PROVIDENCE – The Providence-Warwick metropolitan area ranked No. 99 among the 100 largest U.S. metropolitan areas in Realtor.com’s 2026 Metro Report Cards, receiving an “F” based on measures of housing affordability and homebuilding activity.
The metro received an overall score of 14.1 out of 100, ahead of only Los Angeles. Its affordability score was 11.2, while its homebuilding score was 17.1, according to Realtor.com.
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The report found a median listing price of $572,233 in the Providence-Warwick area, compared with median household income of $85,421. The report calculated that a median earner would need to devote nearly 46% of annual income to the mortgage payment on a median-priced home, assuming a 10% down payment, a 6.5% mortgage rate and a 30-year fixed loan.
Realtor.com also reported a permit-to-population ratio of 0.38 for the metro, indicating relatively low homebuilding activity compared with population, and a 37.4% premium for newly constructed homes over existing homes.
The report comes as Providence has reported increased housing production. The city said it completed 988 housing units and permitted another 726 units during fiscal 2026, with 40% of completed units designated as affordable.
Realtor.com senior economist Joel Berner said the Providence market remains constrained by a lack of housing inventory and pointed to zoning requirements, including minimum lot sizes and parking requirements, as factors limiting the amount and types of housing that can be built.
The report also noted recent Providence efforts to increase housing production, including zoning and planning changes intended to encourage multifamily development, accessory dwelling units and higher-density development along major transit corridors.
Realtor.com’s 2026 report primarily uses 2025 data, while Providence’s latest housing-production figures cover fiscal 2026.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X at @MarcLaRock.
