Providence Multifamily Market Report
By CREhunt Research · Data through Q4 2023 · Aggregated from Colliers, Cushman & Wakefield
Quarterly multifamily market indicators for Providence, aggregated by CREhunt from Colliers, Cushman & Wakefield. As of Q4 2023, average asking rent was $1,491.00/unit/mo, per Colliers.
Projected current multifamily pricing — Providence
Modeled 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 Colliers asking-rent data (benchmark cap rate 5.1%–6.0%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 Colliers | $1,491.00/unit/mo | — | — | — | Colliers |
| Q4 2019 Cushman & Wakefield | — | 4.1% | — | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for multifamily space in Providence?
- As of Q4 2023, the average asking rent for multifamily space in Providence was $1,491.00/unit/mo, per Colliers.
- What is the multifamily vacancy rate in Providence?
- Vacancy data for Providence multifamily is aggregated from brokerage reports; refer to the quarterly table for available quarters.
- Where does CREhunt's Providence market data come from?
- This report aggregates quarterly multifamily market data for Providence from Colliers, Cushman & Wakefield.