Moving to Providence, RI

Thinking about moving to Providence?

You’re in for a treat. Providence woos new residents with its affordability relative to other nearby cities, its small-town feel with big-town culture, and its excellent educational opportunities.

Living

Providence is home to 179,219 Providentians. With an area of 18.4 square miles, Providence has a population density of 9,740 persons per square mile, which makes it more dense than many other cities of comparable size.

The Providence-Warwick, RI-MA Metropolitan Statistical Area boasts a population of 1,614,750 people, of which Providence proper’s population makes up 11%.

Housing

One of Providence’s greatest strengths is its relatively affordable housing market. The median home value in Providence is $175,400, -12% below the US median value, according to Zillow. The median price per square foot in Providence is $144. Over the past 5 years, home values in Providence have increased by 6%.

Renters in Providence may find it more difficult to find affordable housing. The median rent in Providence is $1,439 per month, which is 1% higher than the US median. Over the past year, rental rates in Providence have increased by 1.2%.

Economy

The Providence area economy is growing strong. The Providence metro area’s GDP grew by 17% between 2011 and 2016, from $68.5 billion in 2011 to $80.1 billion in 2016, a total increase of $11.6 billion. The metro area has a per capita GDP of $49,645. According to the US Census Bureau, the median household income in Providence is $56,849, 4% lower than the national median. Providence’s unemployment rate is 4.3%.

Weather

The average annual temperature in Providence is 51.5 degrees. The average annual low temperature is 42.5 degrees, while the average annual high is 60.5 degrees. Providence’s hottest month is July, during which the average high temperature is 83 degrees, while the coldest month is January, when the average low drops down to 21 degrees.

Providence sees an average rainfall of 102.52 inches per year. July is the wettest month, with an average rainfall of 11.46 inches, while November is the dryest month, with an average rainfall of 5.79 inches.

Crime

Providence has an annual violent crime rate of 5.69 violent crimes per 1,000 residents, which is higher than the national median of 3.8 in 1,000. Its property crime rate is 34.63 crimes per 1,000 residents a year, which is higher than the national average of 26.

Traffic & Transportation

Ask anyone who lives in Providence what the city’s biggest problems are and traffic will almost certainly be one of them. According to a survey conducted by INRIX, the average commuter in Providence spends 20.3 hours in traffic each year, with about 6% of their time commuting in a traffic jam, a higher portion than average among US cities.

Walk Score gives Providence a 79 walk score, a 48 transit score, and a 67 bike score.

Cost of Living

Providence is a relatively affordable place to live with a low cost of living. According to the Bureau of Economic Analysis‘s Regional Price Parity survey, which takes into account cost of living metrics including the price of goods and services and housing, Providence has a regional price parity of 108.0, -1.4% below the average for US metro areas.

Demographics

The median age in Providence is 39.8 years. 48.4% of the population in the Providence metro area is male, while 51.6% is female. 12.7% of the metro population is foreign born.

In terms of racial demographics, Providence is 34% Non-Hispanic White, 44% Hispanic, 12% Black, and 6% Asian.

77.5% of those over the age of 25 in Providence have a high school diploma, a lower rate than nationally. 30% of those over the age of 25 have a bachelor’s degree, which is lower than the national rate. 13.5% of residents have an advanced or professional degree.

In the 2016 presidential election, 47% of Providence voters voted for the Republican nominee, while 58% voted for the Democratic nominee.

Plan Your Move to Providence With SpareFoot

Planning a move to Providence? SpareFoot can help. Use SpareFoot to find special deals and discounts on Providence Moving Truck Rentals. If you need a storage unit as part of your move, SpareFoot makes it easy to find storage units in Providence too.