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Rhode Island

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Market Overview

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EXPLORE 1 Rhode Island MARKETToggle markets

Providence

Providence

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VACANCY

Apartment

Average Vacancy Rate 4.4%

No change since year-end 2020.
Expected to finish 2021 at 4.2%.

Distribution / Warehousing

Average Vacancy Rate 7.4%

No change since year-end 2020.
Among the 20 lowest vacancies nationally.
Expected to finish 2021 at 7.3%.

Office

Average Vacancy Rate 18.1%

Drifted downward by 30 basis points.
Expected to finish 2021 at 19.4%.

Retail

Average Vacancy Rate 12.9%

Rose by 120 basis points.
Among the 20 highest vacancies nationally.
Expected to finish 2021 at 14.2%.

RENT

Apartment

Average Asking Rent $1,473

Down 0.2% from year-end 2020.
Expected to finish 2021 at $1,486.

Distribution / Warehousing

Average Asking Rent $6.08

Down 0.3% from year-end 2020.
Expected to finish 2021 at $6.16.

Office

Average Asking Rent $20.91

Flat since year-end 2020.
Expected to finish 2021 at $20.49.

Retail

Average Asking Rent $21.75

Up 0.1% from year-end 2020.
Expected to finish 2021 at $21.15.

Learn more about the Rhode Island markets from one of our professionals

Learn more about the Rhode Island markets from one of our professionals.