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Rhode Island Real Estate Market Trends 2026

450000

Median Price
Vacancy Rate %

2.6

Population

1095962

Population Growth %

0.2

Home Price YoY % Change

6

Average Cap Rate %

5.5

Rent Yoy % Growth

5.5

Median Rent

1350

Market Overview

Rhode Island's real estate market in 2026 features a median home price of $450,000, reflecting a +6% year-over-year change. The rental market shows rising rents with a median one-bedroom at $1,350/month and two-bedroom at $1,650/month (+5.5% YoY). With a population of 1.1M that is steadily growing, Rhode Island represents a mid-range market with exceptionally strong rental demand. The vacancy rate of 2.6% is well below the national average (national: 7.2%). Top investment cities include Providence, Warwick, Cranston, Pawtucket, Newport. Rhode Island is considered tenant-friendly in terms of rental regulations.

Top Investment Cities

Providence, Warwick, Cranston, Pawtucket, Newport

Investment Outlook

Rhode Island's market offers an average cap rate of 5.5%, typical of mid-range markets. Investors should focus on value-add opportunities and neighborhoods with above-average rental demand. The very high rental demand in Providence and Warwick provides the strongest opportunity for consistent occupancy and rent growth.

Key Takeaways for 2026

Median home price: $450,000 (+6% YoY)
Average rent: $1350-$1650/mo
Cap rate: 5.5%
Vacancy: 2.6%
Population growth: +0.2%
Demand: Very High
Regulation: Tenant-Friendly

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