PROVIDENCE, R.I. — Providence is near the bottom of the list in Realtor.com’s 2026 Metro Report Cards, which examined housing affordability and homebuilding across the country’s 100 largest metro areas.
The Providence-Warwick metro area received an F in the report and ranked 99th overall. Only Los Angeles ranked lower.
The report gave Providence-Warwick an overall score of 14.1 out of 100.
The metro’s affordability score was 11.2, while its homebuilding score was 17.1. Realtor.com gave equal weight to the two categories when calculating the overall grade.
Photo: Realtor.com
The metro report based its affordability score on two measures. The first looked at the median listing price relative to the median household income, including how much of the typical earner’s income would go toward a mortgage on a median-priced home. The second measured the share of homes for sale that were affordable to households at different income levels.
For homebuilding, 80% of the score came from the permit-to-population ratio, which measures the number of new homes permitted relative to the metro’s population. The remaining 20% came from the new-construction premium, or how much more expensive newly built homes are compared with existing homes.
Home prices remain out of reach for many buyers
Realtor.com reported a median listing price of $572,233 in the Providence-Warwick metro area.
The median household income was $85,421.
The report also measured how many new homes are being permitted compared with the size of the population. Providence-Warwick had a permit-to-population ratio of 0.38.
Another factor was the premium attached to newly built homes. Realtor.com reported a 37.4% new-construction premium in the metro area, meaning new homes were priced substantially higher than existing homes.
Providence was one of 13 metro areas to receive an F in the 2026 report.
Realtor.com said the report was designed to look at both the current cost of buying a home and the pace of new construction. The affordability portion considers factors such as home prices and incomes, while the homebuilding portion looks at construction activity and the cost difference between new and existing homes.
Metros that scored the highest
While Providence-Warwick ranked near the bottom of Realtor.com’s 2026 report, several metros received grades in the A range.
Des Moines-West Des Moines, Iowa, had the highest overall score at 83.4 and received an A+. Raleigh-Cary, North Carolina, followed with an 82.8 and also received an A+.
Columbia, South Carolina, ranked third with a score of 75.3, followed by Houston, Texas, at 74.8 and Indianapolis, Indiana, at 73.9. All three received an A.
The remaining metros in the top 10 were Austin-Round Rock-San Marcos, Jacksonville, Oklahoma City, Palm Bay-Melbourne, and Columbus. Their scores ranged from 72.5 to 70.1, with each receiving an A-.
Realtor.com said the highest-performing metros generally scored well in both affordability and homebuilding, rather than relying on strength in just one category.
Photo: Realtor.com
Rhode Island also received an F
The findings come after Rhode Island received an F in Realtor.com’s 2026 State Report Cards.
The state-level report also pointed to limited homebuilding as a major factor in Rhode Island’s housing challenges.
Realtor.com based its state affordability scores on median listing prices, median household income, and the share of available housing affordable to typical earners. The homebuilding score was based on the permit-to-population ratio and the price difference between newly built and existing homes, known as the new-construction premium.
Morales puts rent stabilization on campaign agenda
The report comes as housing affordability remains a central issue in Providence’s mayoral race.
State Rep. David Morales won the Democratic primary for mayor on September 9, defeating incumbent Mayor Brett Smiley. Official preliminary results show Morales received 53.57% of the vote.
Morales has made rent stabilization a major part of his housing platform. He has said he would work to put a 4% annual cap on rent increases into effect.
The Providence City Council approved a rent stabilization ordinance in April. Smiley vetoed the measure the following day, and the council later failed to override the veto.
The proposed ordinance would have capped annual rent increases at 4% for certain rental properties, with exemptions for newly constructed housing, smaller owner-occupied buildings, and units already designated as affordable housing.
“Providence is near the bottom of the list…” “The report gave Providence-Warwick an overall score of 14.1 out of 100.”
Rhode Island, at the bottom of another list. Let’s not forget that a former general assembly member, left Rhode Island because it is too expensive. We are at the bottom of these lists because McKee, Foulkes, and the rest of those Demorats over the years have caused this ranking.
“Providence is near the bottom of the list…” “The report gave Providence-Warwick an overall score of 14.1 out of 100.”
Rhode Island, at the bottom of another list. Let’s not forget that a former general assembly member, left Rhode Island because it is too expensive. We are at the bottom of these lists because McKee, Foulkes, and the rest of those Demorats over the years have caused this ranking.