Providence, RI Real Estate Market 2026: 96 Score, 12 Months of Consistency

Providence, Rhode Island does not get the coverage of Boston or New York. It is not a market that appears on most national investor shortlists. The data, however, has been consistent for over a year.

PropertyIQ scores Providence a 96 out of 100 as of February 28, 2026. That is an A grade, placing it in the top tier of markets nationally. The score has held between 95 and 96 for every single month since March 2025 -- 12 consecutive months of top-tier performance.

Here is what is driving it.

Supply Is Tightening Significantly

New listings in Providence are down 22.5% year over year as of February 2026. That is a substantial drop. Fewer sellers are listing homes, which compresses available supply even as demand holds steady.

There are 1,523 homes for sale in the metro as of February 2026, up 7.5% year over year -- but the new listings decline signals that recent supply additions are slowing. The pipeline is thinning.

Demand Remains Strong

Providence has a demand score of 90 out of 100 as of February 2026. The hotness score is 86. There are 1,059 pending listings against 1,523 active homes for sale, a pending ratio of 0.70. Homes are selling in 49 days on average.

The sale-to-list ratio is 100% as of November 2025. Sellers in Providence are receiving exactly their asking price, on average.

Price Appreciation Is Steady

Home values in Providence are up 2.35% year over year as of February 2026. Zillow forecasts near-term appreciation of 3.5% as of December 2025. The five-year home value appreciation is 29.6% as of February 2026.

The median listing price is $547,450 as of February 2026. The Zillow median home value is approximately $502,211 as of January 2026.

What the Valuation Data Shows

Providence is 67.2% overvalued relative to local income fundamentals as of February 2026. The income needed to qualify for a home at the median price is approximately $145,510 annually, against a median household income of $85,646 (2023 Census). That gap is meaningful and reflects the Northeast premium common across the region.

The market is not cheap. But the overvaluation is consistent with comparable Northeast metros rather than a recent speculative run.

How Providence Compares to Other Northeast Markets

Hartford, CT and Rochester, NY are among the highest-scoring markets in the Northeast. Providence holds its own with a 96 -- a point above Hartford's 98 score on the same index. Worcester, MA scores a 95.

The Northeast continues to produce consistently high PropertyIQ Scores driven by constrained supply, strong employment bases, and income levels that support purchase activity even at elevated prices.

The 12-Month Stability Story

What distinguishes Providence from markets like Seattle or Indianapolis -- which have seen significant score movement recently -- is the consistency. A score that holds at 95-96 for 12 months reflects structural market health, not a temporary spike or recovery. The underlying supply-demand relationship has been stable.

Markets with volatile scores require more analysis of direction and timing. Providence is a market where the direction has been steady.

PropertyIQ score as of February 28, 2026. Listing and inventory data as of February 1, 2026. Zillow home value data as of January 31, 2026. Forecast data as of December 2025. Census data as of 2023. All data for informational purposes only.