$2,099 Per Month
- 2 Beds
- 2 Baths
- Townhouse for Rent
287 Lockwood St, Providence, RI 02907
Property Id: 1784671Great three story condo available now. Close to all mohor highways with all am
(401) 537-1236
Frequently Asked Questions
How much does it cost to rent a townhouse in Providence, RI?
The median rent for a townhouse in Providence, RI is $2,125 per month, though prices vary by neighborhood, size, and property type. As of May 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Providence, RI?
To comfortably afford the median rent in Providence, RI, a household needs to earn roughly $88,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,200 per month in Providence, RI, renters typically need to show $6,600 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Providence, RI?
In Providence, RI, the price-to-rent ratio is 16.3, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
