Providence, the capital of Rhode Island, is the third most populous city in New England, at around 180,000 inhabitants. (The cities of Boston and Worcester, both in Massachusetts, are the record-holders, at 685,000 and nearly 186,000 inhabitants, respectively.) It’s only about an hour away from Boston by car or train. To New York City, it’s about three hours by car or four hours by train.
Why Providence Is a Great Place to Live
Providence was founded in 1636 as one of the original 13 American colonies, making it one of the oldest cities in the U.S. As you can imagine, there’s a world of history to be explored in Providence. A few homes from the 18th and 19th centuries are open for tours.
The city has earned its nickname, the “Creative Capital,” by embracing and encouraging public art in various forms. The city’s many murals are impossible to ignore. Some have been painted by famous artists, some by students and others by members of the local community. The city’s seasonal WaterFire phenomenon is another art installation that is hard to miss: Each spring, summer, and fall, nearly 100 bonfires light up the rivers that run through the downtown area.
What the Providence Housing Market Is Like
The North End, East Side, Jewelry District, and South Providence areas divide Providence’s 25 neighborhoods into larger districts. The College Hill neighborhood on the East Side is home to the esteemed Brown University and Rhode Island School of Design. The neighboring downtown area has a slightly more professional, but still vibrant, feel. The west side of the city has more of a family vibe.
More than half of the housing units in the Providence area were built before 1940. The median home value is approximately $210,000, and the median monthly rent is around $2,200. Available real estate typically includes historic homes, newly-build condominiums, multi-family homes (including historic buildings converted to apartments) as well as a few manufactured homes.
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