Melissa Rose Benson is the 2026 president of the Greater Providence Board of Realtors. A 14-year real estate professional, she is a residential sales associate with RE/MAX River's Edge, where she has worked since 2013. Benson, who has been board member since 2022, previously served as the board’s president-elect in 2025 and as treasurer and corporate secretary in 2024.
In 2026, Benson will also serve on the board of directors of the Rhode Island Association of Realtors. She holds multiple professional designations through the National Association of Realtors and is licensed in Rhode Island, Massachusetts and Connecticut.
PBN: As the incoming 2026 president of the Greater Providence Board of Realtors, what do you see as the most pressing challenges facing Rhode Island’s residential real estate market over the next 12 to 24 months?
BENSON: High prices and still-elevated interest rates combined with low inventory continues to impact the real estate landscape across the state. Their effect decreases a buyer’s purchasing power, thus limiting and severely impacting affordability.
Lack of affordable starter homes is pushing younger and lower-income buyers to rent longer, eroding and delaying ownership, which is pushing the average age of first-time homebuyers to the 40s.
PBN: Homeownership is often cited as a pathway to generational wealth, yet affordability remains a major barrier. What structural changes – market-driven or policy-driven – would most effectively expand access for first-time buyers?
BENSON: If we want homeownership to remain a realistic pathway to generational wealth, we have to address the root causes, not just symptoms. Rhode Island needs more inventory; modifications to zoning and land use to allow the construction of two- to four-unit multifamilies; ease of adding accessory dwelling units; revision of minimum lot sizes; conversion of commercially zoned properties to accommodate residential units; and the acceleration of approvals for development, incentivizing builders to make entry-level projects financially viable.
Monthly payments matter, but the upfront cash barrier is what sidelines most buyers. Educating buyers on creative financing options helps buyers compete without overstretching. Many renters are closer to qualifying than they think – they just need guidance. Homeownership is attainable – not just aspirational.
PBN: Investor activity continues to shape housing availability across the state. How should policymakers and market participants balance the role of real estate investment with the need to preserve owner-occupant opportunities?
BENSON: Investor activity is part of a healthy housing ecosystem. Investors often provide capital to rehabilitate aging housing stock, increase rental supply and stabilize distressed properties.
That said, balance matters. Policymakers should focus on increasing overall supply rather than targeting one category of buyer. When inventory is constrained, competition intensifies across all segments. The solution is not to restrict participation but to create more housing opportunities at every price point. Cities can prioritize owner occupant access through programs, down payment assistance and incentives for owner-occupied redevelopment. These tools preserve opportunity without distorting the broader market.
PBN: Rent-control proposals periodically resurface in Rhode Island. Based on your experience, how would rent regulation likely affect housing supply, development decisions and long-term affordability in Greater Providence?
BENSON: Rent control is often proposed with the goal of providing stability for tenants. Stability is important. However, experience from other markets shows that broad rent caps can carry unintended consequences.
When rent control is initiated, operating costs are not taken into account. Property owners face pressure on margins. Over time, that can reduce reinvestment in maintenance and improvements. For smaller-property owners in Providence, many of whom operate two- to four-unit homes, those pressures are significant.
More importantly, rent control can influence development decisions. Developers evaluate risk across jurisdictions. If Providence is perceived as a market with price controls and regulatory uncertainty, capital may shift elsewhere. That reduces new housing production at a time when Rhode Island needs more supply.
Long-term affordability is driven by supply. When fewer units are built and fewer remain in the rental market, upward pressure on prices continues. The most durable path to affordability is increasing housing production, streamlining approvals and preserving existing units through targeted incentives rather than broad price caps.
PBN: Looking ahead to your leadership role at the Greater Providence Board of Realtors, what priorities will guide the organization’s engagement with legislators, municipalities and consumers during a period of constrained inventory and evolving regulations?
BENSON: Our priority will be constructive engagement. First, we will advocate for policies that increase housing supply. That includes zoning modernization, support for accessory dwelling units, predictable permitting timelines and incentives for redevelopment of underutilized properties.
Second, we will support first-time buyer access. Down payment assistance, housing counseling and partnerships with lenders and community organizations are essential to expanding ownership opportunities.
Third, we will work to preserve housing quality and stability. That means encouraging investment in existing housing stock and promoting balanced tenant protections that do not discourage new construction.
Fourth, we will strengthen communication. GPBOR will continue serving as a resource to legislators and municipal leaders by providing data, market insight and practical feedback on proposed policies. Our goal is to ensure decisions are informed by how the housing market actually functions on the ground.
Rhode Island’s housing challenges are real. They require thoughtful solutions that expand opportunity, protect consumers and sustain long-term investment in our communities.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X at @Marc_La_Rock.
