PROVIDENCE – Rent prices in the city for May declined 1% year over year but rose 1.9% month to month, according to a new report from ApartmentList.com.
The median monthly rent price for a two-bedroom apartment in the city was $1,097 for May, lower than the national average of $1,137. A one-bedroom apartment in the city rented at a median price of $807 per month.
The city’s year-over-year downward rent price trend did not reflect prices in Rhode Island at large. Statewide, rent prices rose 5.2% year over year, faster than the national growth rate of 2.3% in that time.
In nearby Massachusetts, statewide rent prices declined 4.2% year over year for May, including a 9.5% decline in Boston rent prices in that time.
The report uses data from the U.S. Census Bureau and listing data. More information may be found online.
