Insights
Rhode Island
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VACANCY
Apartment
Average Vacancy Rate 4.5%
- Drifted upward by 10 basis points.
- Highest level since Q3 2011.
- Expected to finish 2020 at 5.8%.
Distribution / Warehousing
Average Vacancy Rate 8.0%
- Declined by 90 basis points.
- Expected to finish 2019 at 5.5%.
Office
Average Vacancy Rate 16.8%
- Declined by 50 basis points.
- Expected to finish 2020 at 19.0%.
Retail
Average Vacancy Rate 10.3%
- Drifted downward by 40 basis points.
- Lowest level since Q1 2010.
- Expected to finish 2020 at 12.9%.
RENT
Apartment
Average Asking Rent $1,487
- Flat since Q1 2020.
- Expected to finish 2020 at $1,419.
Distribution / Warehousing
Average Asking Rent $6.03
- Up 0.5% from year-end 2018.
- Expected to finish 2019 at $6.07.
Office
Average Asking Rent $21.01
- Down 0.6% from Q1 2020.
- Expected to finish 2020 at $20.51.
Retail
Average Asking Rent $21.96
- Ninth fastest rent growth in the nation, and the second in the Northeast region, behind only Buffalo.
- Expected to finish 2020 at $20.90.