The story of this market
The typical home in ZIP 02909 sells for about $389,184, or $265 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $1,979 a month.
ZIP 02909 — Providence
The housing market in 02909 is characterized by high rental demand and a significant share of multi-family properties, reflecting its urban, student-adjacent nature. While home values have appreciated, the market faces challenges including elevated vacancy rates and lower-than-average household incomes. Investors remain active, though the market requires careful due diligence due to the age of the housing stock and socioeconomic factors.
This ZIP is best suited for urban-oriented renters, students, and investors who specialize in multi-family properties, as the area offers lower entry price points compared to surrounding suburban markets.
Median prices moved up 4.2% year over year.
Homes spend a median of 42 days on market with 3.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 8.7% · poverty 22.5% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 10.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 02909, Providence County RI
Crime rates in the area are generally higher than the national average, with property and violent crime trends remaining a consistent focus for local law enforcement in this urban Providence sector.
Public schools serving the area are part of the Providence Public School District, which faces ongoing challenges regarding academic performance and resource allocation compared to suburban districts.
The area is primarily an urban environment with standard flood and wind risks associated with the coastal New England climate; insurance premiums are influenced by regional storm exposure.
Economic momentum is driven by the proximity to Providence's university and medical hubs, though large-scale new development is limited by the area's dense, historic urban fabric.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Rhode Island) — Local Property Tax Assessment: Property is assessed at full and fair cash value. The tax is calculated by multiplying the assessed value by the local tax rate (mill rate). Municipalities may apply homestead exemptions or tax classifications (residential vs. commercial) as authorized by state law.
Residents benefit from proximity to downtown Providence, with most commutes involving short drives or local RIPTA bus transit; highway access to I-95 and I-6 is readily available.
The area features several local neighborhood parks and is within a short distance of the larger Roger Williams Park, which offers extensive green space, a zoo, and recreational lakes.
The rental market is characterized by high demand driven by the local student and workforce population, with vacancy rates reflecting a tight supply of affordable units.
The local economy is anchored by healthcare, education, and government services, with major employers including nearby hospitals and universities in Providence.
The area is served by the Rhode Island Public Transit Authority (RIPTA) and provides easy access to the Providence Amtrak station for regional travel.
Development is largely focused on infill projects and the conversion of older industrial buildings into residential lofts.
The Providence Tax Assessor manages property valuations, with periodic revaluations conducted to align assessments with market values.
Parcels are subject to Providence municipal taxes and the Providence Public School District levies.
Property insurance markets are stable but sensitive to coastal storm risks, requiring standard homeowners coverage with potential flood insurance riders.
Rhode Island has seen modest net domestic migration, with urban centers like Providence attracting younger professionals and students.
Rhode Island is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a comprehensive real estate disclosure form detailing the condition of the property.
Data retrieved from U.S. Census Bureau ACS 5-year estimates for ZCTA 02909.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
- The Xfinity Center4.217.5 mi
- Supercharged Entertainment4.518 mi
- Amica Mutual Pavilion4.42.3 mi
- Rhode Island Convention Center4.42.3 mi
- Topgolf Rhode Island4.34.2 mi
- Bally's Lincoln3.95.2 mi
- Roger Williams Park Zoo4.62.8 mi
- RISD Museum4.72.8 mi
- Colt State Park4.812.6 mi
- Lincoln Woods State Park4.66 mi
- RISD Museum4.72.8 mi
- Lizzie Borden House (A Bed and Breakfast & Museum)4.817.5 mi
- Providence Children's Museum4.62.6 mi
- Newport Car Museum4.919.2 mi
- Blithewold Manor, Gardens & Arboretum4.714.8 mi
- Colt State Park4.812.6 mi
- Lincoln Woods State Park4.66 mi
- Roger Williams Park4.73 mi
- Goddard Memorial State Park4.610.8 mi
- Slater Memorial Park4.67.2 mi
- The Cove | Restaurant & Marina4.317.1 mi
- Herreshoff Marine Museum4.714.1 mi
- Harbor Lights Dining Events Golf Marina4.49.5 mi
- East Providence Yacht Club4.33.8 mi
- Rhode Island Yacht Club4.64.9 mi
- Topgolf Rhode Island4.34.2 mi
- Kirkbrae Country Club4.69.2 mi
- Triggs Memorial Golf Course4.21.4 mi
- Swansea Country Club4.410.4 mi
- Harbor Lights Dining Events Golf Marina4.49.5 mi
- Providence Place4.42.5 mi
- Warwick Mall4.36.2 mi
- Garden City Center4.63.6 mi
- Emerald Square Mall410.8 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
A major regional park featuring a zoo, botanical center, and multiple lakes.
A historic neighborhood known for its high concentration of Italian restaurants and cafes.
Key-figure check: median price diverges 23.7% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict.