Apartments for Rent in Federal Hill, Providence, RI

Federal Hill, Providence apartment availability

Federal Hill's rental market offers a very strong selection of listings, with an average of 104 rentals available each month in 2024. The neighborhood's inventory is diverse, featuring a mix of 1-bedroom, 2-bedroom, and 3-bedroom apartments, as well as studios. Many of these apartments offer desirable amenities, including hardwood floors, dishwashers, and in-unit laundry, which are available in approximately 37% of the apartments. With nearly 20% of Providence's total listings located in Federal Hill, renters have a wide range of options to choose from in this popular neighborhood.

Federal Hill, Providence rental market trends

Federal Hill's rental market saw a modest increase of about 1.6% last year, with the average monthly rent reaching $1,988. Breaking it down by bedroom count, 1-bedrooms averaged $1,897 per month, a 3.2% increase from the previous year. The average rent for 2-bedrooms was $1,949, while studios came in at $1,383, reflecting a notable 7.8% annual increase.

In Federal Hill, the highest rents are typically found in January, with a 4.7% increase compared to June, the month with the lowest rents. This trend suggests that winter may be the best time to secure a rental at a slightly lower price. However, it's essential to note that the rental market can be competitive, especially during the peak season. If you're looking for a new apartment, be prepared to act quickly, especially during the most competitive months. On the other hand, if you're flexible with your move-in date, you may find more options and better deals during the less competitive periods.

Why Federal Hill, Providence is a great place to live

Federal Hill is a haven for renters who value a vibrant social life and prioritize environmental sustainability. With its abundance of restaurants, safe streets, well-maintained infrastructure, and frequent transit options, this neighborhood is perfect for those who enjoy going out and exploring. The high walk score is an added bonus, making it easy to get around without relying on a car.

For the eco-conscious renter, Federal Hill is a dream come true. Many buildings in the area feature non-toxic paint, waste recycling and composting programs, rainwater harvesting systems, and sustainable materials in construction. The neighborhood's commitment to community solar projects and low-flow fixtures further solidifies its reputation as a leader in environmental sustainability. If you're looking for a neighborhood that aligns with your values and lifestyle, Federal Hill is an excellent choice.