Rents expected to stabilize in 2023, yet remain unaffordable for many

ON TOUR: Brett Bessette, left, a real estate agent with Residential Properties Ltd., shows an apartment in a newly constructed building at 500 South Water St., Providence, to a prospective tenant, John Pereira, of East ­Providence. 
PBN PHOTO/
MICHAEL SALERNO
ON TOUR: Brett Bessette, left, a real estate agent with Residential Properties Ltd., shows an apartment in a newly constructed building at 500 South Water St., Providence, to a prospective tenant, John Pereira, of East ­Providence. 
PBN PHOTO/
MICHAEL SALERNO
Nearly three years into a rental market characterized by a steep decline followed by surging increases, the market has showed some signs of starting to cool at the upper level, observers say, though renters most in need of affordable housing will likely continue to struggle in 2023. It’s a trend that Scott Veloso, a real…

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