Providence Multifamily Market Report
By PropZone Research · Data through Q4 2023 · Aggregated from Avisonyoung, Colliers, Cushman & Wakefield
Quarterly multifamily market indicators for Providence, aggregated by PropZone from Avisonyoung, Colliers, Cushman & Wakefield. As of Q4 2023, average asking rent was — with a 19.3% vacancy rate.
Projected current multifamily pricing — Providence
indicative confidenceModeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Providence multifamily yet, so this applies the typical cap rate across comparable multifamily markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q4 2023 asking-rent data (benchmark cap rate 5.0%–5.8%, asking rent held flat). Assumes ~81% occupancy and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 | — | 19.3% | 84.8M SF | — | Avisonyoung |
| Q4 2023 | $1491.00/SF | — | — | — | Colliers |
| Q4 2019 | — | 4.1% | — | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for multifamily space in Providence?
- PropZone aggregates multifamily asking-rent data for Providence from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the multifamily vacancy rate in Providence?
- The multifamily vacancy rate in Providence was 19.3% as of Q4 2023 (Avisonyoung).
- Where does PropZone's Providence market data come from?
- This report aggregates quarterly multifamily market data for Providence from Avisonyoung, Colliers, Cushman & Wakefield.