Average Rent In Rhode Island For January 2024
Average Rent
What is the average rent in Rhode Island?
The average rent in Rhode Island for January 2024 is $1,400, according to the most recent data from ApartmentList - January 3, 2024. The average rent of a 2-bedroom apartment in Rhode Island is $1,471. The average rent of a 1-bedroom apartment in Rhode Island is $1,083.
Compared to the national average of $1,379, Rhode Island rent costs 1.5% less. Read our analysis of rents by state to see how Rhode Island ranks.
Here's a look at how average rents have changed over time:
How Does Rhode Island Rent Compare To The Rest Of The Country?
| Statistic | RI | USA | % Difference |
|---|---|---|---|
| Average Rent | $1,400 | $1,379 | 1.5% |
| M-o-M Change | -$15 | -$11 | 36.4% |
| Y-o-Y Change | $93 | -$14 | -764.3% |
| M-o-M % Change | -1.1% | -0.8% | - |
| Y-o-Y % Change | 7.1% | -1.0% | - |
Median Rent By Bedrooms In Rhode Island
1-Bedroom
2-Bedroom
As you would expect, the median price for rent in Rhode Island increases as the number of bedrooms in the unit increases. 1-Bedroom rent is the cheapest in Rhode Island clocking in at $1,083, while a 2-bedroom rental will set you back $1,471 per month.
If you don't mind having roommates, the best option on a per room basis is a 2-bedroom rental for $735/room/month.
Read on to find out more or for more on Rhode Island check out:
- Best Places To Live In Rhode Island
- Cheapest Places To Live In Rhode Island
- Most Dangerous Cities In Rhode Island
Month Over Month Rhode Island Rent Statistics
M-o-M Increase
M-o-M Increase
Rhode Island has experienced a -$15 change in rent over the past month going from $1,415 to $1,400. That change comes out to -1.1%.
For reference, the US national average rent changed -$11 in the past month or -0.8%.
Here's a look at the month over month change for each month since 2017 for Rhode Island:
Year Over Year Rhode Island Rent Statistics
Y-o-Y Increase
Y-o-Y Increase
Over the past year, the average rent in Rhode Island changed $93 from $1,307 to $1,400. A change of $93 means that rents changed 7.1% in a year.
That compares to the US national change of -$14 in the past year or -1.0%.
Here's a look at the year over year change by month since 2017 for Rhode Island:
The 10 Places With The Highest Rent In Rhode Island
Population: 1,429
Median Rent: $2,233
More on Melville: Real Estate
Population: 1,777
Median Rent: $1,546
More on Hope Valley: Real Estate
Population: 6,983
Median Rent: $1,379
More on Kingston: Data | Cost Of Living | Real Estate
Population: 3,977
Median Rent: $1,286
More on Narragansett Pier: Data | Real Estate
Population: 11,211
Median Rent: $1,263
More on Newport East: Data | Cost Of Living | Real Estate
Population: 24,745
Median Rent: $1,245
More on Newport: Data | Crime | Cost Of Living | Real Estate
Population: 1,477
Median Rent: $1,227
More on Bradford: Real Estate
Population: 81,218
Median Rent: $1,178
More on Warwick: Data | Crime | Cost Of Living | Real Estate
Population: 17,323
Median Rent: $1,119
More on Westerly: Data | Crime | Cost Of Living | Real Estate
Population: 9,044
Median Rent: $1,072
More on Wakefield-Peacedale: Real Estate
Learn More About Living In Rhode Island
About Chris Kolmar
Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.
He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.
If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.
You can find out more about him on LinkedIn.