Providence, Rhode Island is a medium-sized city with a population of 178,851 people. With a population density of 9,720 people per square mile, Providence is well above the nation's average density level. More than a quarter of the residents of Providence identify themselves as Hispanic or Latino, and 37% of the population speak Spanish as their primary or secondary language. Providence tends to attract a younger crowd, as the median age of 29 is far below the national average.
Are you trying to ascertain if living in Providence is the right fit for your lifestyle? To ensure a great experience before moving to any new city in Rhode Island, you will probably want to make sure that you check all of the most important boxes. Using the livability score which includes data from categories like amenities, cost of living, education, housing, you can easily compare the best places to live in Providence and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Providence to Rhode Island and the national average.
With a livability score of 58 out of 100, Providence is ranked #25,648 in the United States and #34 in Rhode Island. This is a poor rating when compared to the average of other places in the country. If we dig down a little deeper into each category within the livability score, we see that Providence has higher than average rankings for the following: amenities (A+). There is at least one category that you should be aware of in Providence. The following was graded with a less than perfect score: crime (F), cost of living (F), education (F) and employment (F).
Location, location, location - possibly the three most important words in your search for a new place to live. Fortunately, in Providence, there is no shortage of amazing local amenities and interesting things to do. Some of the interesting things to do and attractions include: WaterFire, Roger Williams Park Zoo, and Rhode Island School of Design Museum of Art.
Unemployment rates can range pretty dramatically from one city to another. Knowing that Providence has an unemployment rate of 1.12% probably means that there are ample job opportunities for you to consider as it is far below the national average.
Being close to public transportation, grocery stores, parks and other conveniences are all important when weighing your options for a new home in Providence. Before you determine if any of these amenities are available in the area, you will also want to know if the real estate prices in Providence are affordable. Median real estate prices in Providence come in at $173,800, which is 27% lower than the Rhode Island average. The home price to income ratio compares the median home prices to the median household income. In Providence, the home price to income ratio is 4.7, which is 14.6% higher than the Rhode Island average. Year over year appreciation rates for homes in the Providence area were 11.6% and the 5 year appreciation rates came in at 9.4%. Why is this important? Knowing the appreciation rates for any area is a quick and easy way to determine if you will see a solid return on your investment.