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Providence, RI Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$2,235
Monthly Cash Flow
-$550
Principal + Equity
$3,503
Annual Total Gain
$35,437
Cash on Cash
-6.26%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$194
Occupancy Rate
62.5%
Monthly Revenue
$2,793
Monthly Cash Flow
-$411
Principal + Equity
$3,503
Annual Total Gain
$37,107
Cash on Cash %
-4.68%
Net ROI %
Market Health & Growth
Median Income
$66,772
Population
190,214
LTR Renter %
58.82%
Forecast (1 yr)
2.94%
Appreciation (1 yr)
1.35%
Appreciation (5 yr)
54.63%
Appreciation (10 yr)
137.96%
Job Growth
2.6%
LTR Rentability
Moderate
STR Demand
74
STR Rentals
1,026
Top Public Schools
A-Classical High School
BBlackstone Valley Prep High School
B
B
B-
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B-
Overall
Top-level market grade
Most Diverse Cities in America
#41out of 229 markets
Best Cities for Outdoor Activities in America
#54out of 229 markets
Best Cities for Young Professionals in America
#39out of 229 markets
D
Public School
D
Crime And Safety
D
Housing
A
Nightlife
C
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Providence, RI.
In Providence, RI, short term rentals are regulated by the city's Zoning Ordinance. Here are some key regulations that an investor should be aware of before investing in purchasing a property for short term rental:
1. Zoning Restrictions: Providence has specific zoning regulations that dictate where short term rentals are allowed to operate. Investors should ensure that the property they are considering purchasing is located in a zone that permits short term rentals.
2. Licensing Requirements: Short term rental hosts in Providence are required to obtain a Short Term Rental License from the city. This license must be renewed annually and hosts must comply with all licensing requirements, including safety and occupancy standards.
3. Occupancy Limits: Providence has strict occupancy limits for short term rentals, which vary depending on the size of the property. Investors should be aware of these limits and ensure that their property complies with them.
4. Taxation: Short term rental hosts in Providence are required to collect and remit both state and local taxes on their rental income. Investors should be aware of these tax obligations and factor them into their financial projections.
5. Noise and Nuisance Regulations: Providence has noise and nuisance regulations that apply to short term rentals. Investors should be aware of these regulations and take steps to ensure that their guests comply with them.
6. Insurance Requirements: Short term rental hosts in Providence are required to maintain liability insurance coverage for their rental property. Investors should ensure that they have the appropriate insurance coverage in place before renting out their property.
Overall, investors considering purchasing a property for short term rental in Providence should carefully review and comply with all relevant regulations to avoid potential fines or legal issues. It is also advisable to consult with a real estate attorney or property management company familiar with local regulations to ensure compliance.
Market Trends Over Time
Explore 25 years of market data for Providence, RI, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Providence, RI.
The LTR Genie Score of Providence, RI is 74 and STR Genie Score is 81, indicating a high score for short-term rental potential and a moderate score for long-term rental potential. The high STR Genie Score can be attributed to the strong STR Net ROI of 35.23% and high STR Revenue of 2793, as well as a decent STR Occupancy rate of 62.5. On the other hand, the LTR Genie Score is slightly lower due to a lower LTR Rent Growth Rate of 0.0644% and LTR Net ROI of 33.64%.
Providence, RI is a vibrant city known for its historic architecture, diverse culture, and thriving arts scene. With several universities and colleges in the area, there is a steady demand for rental properties from students and young professionals. The city also offers a variety of attractions, restaurants, and outdoor activities, making it an attractive destination for both short-term and long-term rental investments.
Based on the metrics provided, Providence, RI appears to be a promising market for both short-term and long-term rental investments. The high STR Genie Score suggests that short-term rentals could yield strong returns, especially with the forecasted 1-Year Price Appreciation of 2.94%. However, the moderate LTR Genie Score indicates that long-term rentals may not be as lucrative in comparison. Overall, real estate investors may find success in diversifying their portfolio with a mix of both short-term and long-term rental properties in Providence, RI.
LTR Genie Score 93
$175,000
🛏 4 Beds🛁 1.0000 Baths🏙 1,200 sqft.🏠 SINGLE FAMILY
