Real Estate Investing in Providence, Rhode Island (02907)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02907 (Providence, RI)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Providence, RI (02907)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 02907 Providence
Not every below-median market is a bargain. Providence's 02907 ZIP reflects signals that favor experienced operators who can absorb the risk $405K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 02907 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 02907's metrics run below Providence County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Who lives in 02907 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 02907 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Providence:
Property Strategy for 02907
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $323,254 | $1,590 | 3.5% | +11.7% | $161,627 |
| 3BR | $361,547 | $1,920 | 3.8% | +9.8% | $120,516 |
| 4BR | $391,352 | $2,280 | 4.2% | +9.7% | $97,838 |
| 5BR | $511,216 | — | — | +9.7% | $102,243 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02907 Compare?
| Metric | 02907 | Providence | Rhode Island |
|---|---|---|---|
| Home Value | $405,464 | $368,588 | $487,363 |
| 5-Year CAGR | 7.3% | 6.8% | 8.8% |
| Avg Rent | $1,847 | $2,153 | - |
| Cap Rate | 3.6% | 3.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02907 (Providence, RI). Anonymous, moderated, never written by AI.
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Property managers serving Providence County
Manage rentals here? List your business →Ferland Corporation provides professional management services for over 2,600 apartment units in the Rhode Island area, offering quality apartments and amenities. summary from their website
Zanno Property Management offers residential and multi-family property management services in Providence, including marketing, resident screening, rent collection, maintenance, accounting, and evictio summary from their website
Avellino Construction & Property Management offers property management, general contracting, investments & lending, and rentals in Providence, RI. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $405,464 |
| Monthly Rent | $1,847 |
| Price-to-Rent | 18.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +6.5% ▲ |
| 5-Year CAGR | +7.3% ▲ |
| 10-Year CAGR | +10.3% ▲ |
🏠 Rent Trends
| 1-Year | +8.3% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 02907
Population: 31,427
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 02907
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is Providence, RI a good place for real estate investing?
Providence, RI scores 3.0/5 for investability. Home values sit at $405K and rents near $1,847/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What investment strategy works best in Providence, RI?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Providence, RI. The numbers - $405K homes against $1,847/mo rents - support that play.
What do rentals go for in Providence, RI?
Expect rents around $1,847/mo per month in Providence, RI. With home values at $405K, the yield math works out to reasonable levels for rental investors.
Is rental property easy to operate in Providence, RI?
Providence, RI falls under RI landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
Do landlords face vacancy issues in Providence, RI?
Providence, RI sees elevated vacancy, which is reasonable relative to the broader RI rental market.
You know 02907 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 02907 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 02907 ranks in Providence-Warwick, RI-MA
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