Providence is a mid-sized city located in the state of Rhode Island. The city has 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.
Whether you’re relocating to a new town to be closer to family, friends or for a new job, living in Providence could be a positive experience compared to other cities in Rhode Island if you know where to search. With useful information like amenities, cost of living, education, employment and other key data points, finding the best places to live in Providence and in the areas around Providence is a much easier task.
With a livability score of 58 out of 100, Providence is ranked #25,648 in the United States and #34 in Rhode Island. This score ranks well below the US average. With such a low livability score, it might be worth investigating a little further. If we check out each of the categories on their own, we see that Providence ranks well for amenities (A+). On a more negative note, Providence does not have favorable scores for the following: crime (F), cost of living (F), education (F) and employment (F). If we take a look at the data, we can find out why.
Assuming that Providence meets all of your requirements, the next most important item to examine is the affordability of real estate in Providence. Everything else becomes a lot less important if it turns out that home prices in Providence are simply unattainable. The median home price for Providence homes is $173,800, which is 27% lower than the Rhode Island average. If we take a closer look at the affordability of homes in Providence, we’ll see that the home price to income ratio is 4.7, which is 14.6% higher than the Rhode Island average. Real estate appreciation rates in Providence are important to consider, as they can act as a guide to determine if your new home purchase will be a solid investment going forward. During the last twelve months, the appreciation rate for Providence homes comes in at 11.6%, and the 5 year appreciation rates were 9.4%.