Multifamily developers remain very active in Providence, Rhode Island, with construction volumes approaching post‑pandemic highs. More than 1,800 units are currently underway as of the first quarter of 2026, the highest quarterly construction total since mid-2022. The vast majority of the development pipeline, 92%, is concentrated in the suburbs.
With more than 1,800 units underway, multifamily construction remains elevated in Providence
Rhode Island region's vacancy has risen as leasing momentum has fallen over the past year
CoStar Analytics
March 12, 2026 | 8:45 P.M.
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