To address a lack of affordable housing in Providence, a Housing Crisis Task Force presented its findings to the Providence City Council in late September.
The 2025 report raises a variety of housing challenges in Providence and recommends a number of solutions. Unfortunately, one of the recommendations is that the City of Providence impose rent stabilization, another name for rent control.
The Providence City Council is weighing a proposal called the “Providence Tenant Right of First Refusal Act,” which would place significant new restrictions on property owners seeking to sell multi-family rental housing.
A proposed Providence Ordinance Amending Chapter 14, “Licenses”, of the Code of Ordinances “Student Housing Providers” would require owners of non-owner occupied property who rent to four or more full-time or part-time post-secondary students in the same building to obtain a license from the City of Providence and pay an annual registration of $500/year per student.
The Rhode Island Association of REALTORS® has approved the following forms changes, which were sent to authorized forms vendors. Please keep in mind that some vendors update at different times.
In order to move operations to its new location, the RI State Health Laboratories (RISHL) will temporarily stop accepting drinking water samples from private well owners for a period beginning September 11, 2025. If any clients require private well testing while services are not available at the RISHL, they can submit samples to another certified drinking water testing lab.
New Alerts:
1. Scammers have been sending fake emails pretending to be from staff and/or members of RI REALTORS®. Just a couple of the most recent scams include an offer of a free piano and a "secure" message including an RI REALTORS® Annual Report from our President. Both are fake emails.
2. The Norwich, CT Police Dept. warns REALTORS® of a buyer with suspicious behavior and criminal background.
Warwick, R.I. – August 21, 2025 -- Rhode Island’s single-family home market showed some stabilization in July as the supply of homes for sale continued to grow. Data released by the Rhode Island Association of Realtors highlighted a slight .3% drop in sales activity of single-family homes and a two percent gain in the median price year-over-year. The July numbers also indicated a slow but steady gain in the supply of homes for sale.
Are you booking short-term rentals for 2026 now? Keep in mind that a new tax on short-term rentals of entire homes, cottages and condominium units will take effect, and the local hotel tax will increase.
WARWICK, R.I. – July 22, 2025 – Today, the Rhode Island Association of Realtors reported a year-over-year increase in June’s median home sales price. At $520,000, the median price of single-family homes represented a 5.3% gain from 12 months earlier and a 73.6% gain since 2019, the last year unaffected by pandemic migration.
Moving forward, property owners should take note of new taxes introduced in the recently passed RI FY 2026 budget that impact residential real estate. Whether homeowners are offering short-term vacation rentals, selling their home, or own a non-owner-occupied second property valued over $1 million, new or increased taxes will become a part of their ongoing expenses.