Rent in Rhode Island
The median 2-bedroom Fair Market Rent in Rhode Island is $1,729/mo, ranking #13 out of 51 states for highest rent. This is $479 above the national median of $1,250/mo. Rhode Island has a population of 1.1M. About 36.7% of households rent their homes. Fair Market Rent data covers 3 areas across the state.
Highlights
All 3 Areas in Rhode Island
| Area | Studio | 1BR | 2BR | 3BR | Burden | YoY |
|---|---|---|---|---|---|---|
| Newport-Middleton-Portsmouth Pop. 85K | $1,752 | $1,764 | $2,314 | $3,131 | 27.5% | +1.9% |
| Providence-Fall River Pop. 1.7M | $1,318 | $1,402 | $1,729 | $2,087 | 24.2% | +2.1% |
| Westerly-Hopkinton-New Shoreham Pop. 1.7M | $1,353 | $1,362 | $1,721 | $2,146 | 24.1% | +6.9% |
Frequently Asked Questions
The median 2-bedroom Fair Market Rent across Rhode Island is $1,729 per month. Rents range from $1,721/mo in Westerly-Hopkinton-New Shoreham to $2,314/mo in Newport-Middleton-Portsmouth. The actual median gross rent statewide is $1,273/mo according to Census data.
Rhode Island ranks #13 out of 51 states for highest median Fair Market Rent. The state median 2BR FMR of $1,729/mo is $479 above the national median of $1,250/mo.
The average rent burden across Rhode Island is 25.3%, meaning a typical household would spend 25.3% of income on a 2-bedroom at Fair Market Rent. No areas exceed HUD's 30% cost-burden threshold. The statewide median household income is $86,372.
The most affordable area in Rhode Island is Westerly-Hopkinton-New Shoreham with a 2-bedroom Fair Market Rent of $1,721/mo. The median household income there is $85,646.
The most expensive area in Rhode Island is Newport-Middleton-Portsmouth with a 2-bedroom Fair Market Rent of $2,314/mo. The median household income there is $100,859.
Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. State-level income and demographic data comes from the Census Bureau ACS 5-Year estimates. Rent burden is calculated as annual 2BR FMR divided by area median household income.