Why Live in Downtown Providence
Downtown Providence, located between the Providence River and Interstate 95, is a lively neighborhood where business, art, and culture come together. Residents include students, professors, entrepreneurs, and artists, living in high-rise apartments, micro lofts, and luxury condos. The area features historic red brick sidewalks and is close to cultural institutions, art exhibits, top-ranked universities, and famous restaurants. Popular venues like the Providence Performing Arts Center, Trinity Repertory Company, and Veterans Memorial Auditorium host Broadway shows and concerts, while the Amica Mutual Pavilion is home to the AHL Providence Bruins. Art lovers visit AS220’s community galleries, and there are many dining options, from casual pubs to upscale restaurants like Hemenway’s and The Capital Grille. Food trucks are a big draw near city hall on weekends. Shopping options include The Arcade, a historic indoor mall, and Providence Place Mall for national retailers. Burnside Park and Prospect Park offer green spaces with scenic views, and the Providence Rink provides year-round skating. The annual WaterFire event lights up the rivers with bonfires and live music from mid-April to November. Downtown Providence is very walkable and bikeable, with easy access to Interstate 95, Interstate 195, and public transportation, including Amtrak and the Massachusetts Bay Transportation Authority Commuter Rail. T.F. Green International Airport is about 9 miles away. Students attend highly rated Classical High School, and the area offers charter and private school options. The neighborhood is safer than the national average, with ongoing efforts to improve safety through increased police presence and training.
Frequently Asked Questions
Is Downtown Providence a good place to live?
Downtown Providence is a good place to live. Downtown Providence is considered very walkable and very bikeable with great transit options. Downtown Providence has 6 parks for recreational activities. It is very dense in population with 18.1 people per acre and a median age of 32. The average household income is $122,711 which is above the national average. College graduates make up 74.7% of residents. A majority of residents in Downtown Providence are renters, with 88.9% of residents renting and 11.1% of residents owning their home. A
local real estate agent serving Downtown Providence can help you decide if this neighborhood is the right one for you. Learn more on our
Downtown Providence neighborhood guide.
How much do you need to make to afford a house in Downtown Providence?
The median home price in Downtown Providence is $499,000. If you put a 20% down payment of $99,800 and had a 30-year fixed mortgage with an interest rate of 6.56%, your estimated principal and interest payment would be $2,540 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $109K a year to afford the median home price in Downtown Providence. The average household income in Downtown Providence is $123K.
What are the best public schools in Downtown Providence?
The best public schools that serve Downtown Providence are:
What are the best private schools in Downtown Providence?
The best private schools that serve Downtown Providence are:
- Blessed Sacrament School has an A+ Niche grade, a student teacher ratio of 11:1 and an average review score of 5.0.
- Wheeler School has an A+ Niche grade, a student teacher ratio of 6:1 and an average review score of 4.6.
- Moses Brown School has an A+ Niche grade, a student teacher ratio of 8:1 and an average review score of 4.6.
What are the most popular zip codes in Downtown Providence, Providence, RI?
What are the most popular neighborhoods near Downtown Providence, Providence, RI?
Are home prices dropping in Downtown Providence?
Yes, home prices in Downtown Providence are down 5% in the last 12 months.
Home Trends in Downtown Providence, RI
On average, homes in Downtown Providence, Providence sell after 39 days on the market compared to the national average of 52 days. The median sale price for homes in Downtown Providence, Providence over the last 12 months is $500,000, down 5% from the median home sale price over the previous 12 months.
Median Sale Price
$500,000
Median Single Family Sale Price
$245,450
Median 2 Bedroom Sale Price
$830,000
Median 1 Bedroom Sale Price
$297,500
Average Price Per Sq Ft
$624
Number of Homes for Sale
13
Last 12 months Home Sales
43
Median List Price
$499,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-5%