There are currently 61,530 real estate properties in Providence, RI, with a median automated valuation model (AVM) price of $286,600.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Providence, RI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Providence, RI, is $346,773.00, with the most expensive house in Providence, RI, topping out at $9,625,000.00 and the cheapest home in Providence, RI, clocking in at $82,500.00. In other words, there’s something for every potential homebuyer or savvy investor in Providence, RI!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Providence, RI, is on a rollercoaster ride. The average rent price in Providence, RI, is $1,762.00. Indeed, when looking to rent in Providence, RI, you can expect to pay as little as $710.00 or as much as $4,500.00, with the average rent median estimated to be $1,620.00. The good news is that finding an affordable and desirable property to rent in Providence, RI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Providence, RI area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Providence, RI and much more. Save thousands at closing with home foreclosure listings in Providence, RI — up to 75% off market value!
Providence is located in Providence, Rhode Island, with an estimated municipal population of 179,883 residents. All of the best foreclosed homes for sale in Providence are located in the following zip code areas on Foreclosure.com: 02903 02906 02907 02905 02908 02909 02904 02912 02901 02902 02918 02940. The estimated population per square kilometer (.62 miles) in Providence is 3,773.
So, about how much do homes cost in Providence? The most recent median value of resident-owned homes in Providence is 202,477. An estimated 36.1 percent of households in Providence own their homes, with an average family size of 3.52. The median household income in Providence is 45,610, with19.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Providence, the median commute time of resident workers (in minutes) is 23.2. And last, but certainly not least, are you looking for homes to rent in Providence? If so, the average rent price paid by renters in Providence is 994, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Providence, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Providence is 30.6, split between 48.4 percent male versus 51.6 female. The percentage of residents who report being married in Providence is 30.6, with an average family size of 3.52.
The percentage of residents who report their race in Providence is as follows:
|Black / African American||16.8%|
|American Indian / Alaskan Native||1%|
|Native Hawaiian / Other Pacifc Islander||0.1%|
Looking for family-friendly neighborhoods in and/or near Providence? Or maybe you are searching for 55+ active adult communities in and/or near Providence?
The percentage of residents who report their age in Providence is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Providence with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Providence.
How do you know that living in -- or moving to -- Providence is right where you need to be? Perhaps you grew up in Providence or already live nearby; therefore, the decision to buy a home in Providence is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Providence for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Providence:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Providence.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Providence can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Providence, meanwhile, can field multiple offers from more qualified buyers.
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