The story of this market
The typical home in ZIP 02907 sells for about $562,000, or $213 per square foot.
Prices are up +14.5% from a year ago, so sellers still have some momentum. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $1,170 a month.
ZIP 02907 — Providence
The 02907 housing market shows steady price appreciation driven by limited inventory and high demand for urban living. While affordability remains a challenge for many residents, the area continues to attract interest due to its historic charm and proximity to Providence's core. Figures for active inventory and sales count are based on October 2025 market data.
This ZIP is well-suited for first-time homebuyers and investors looking for historic character and proximity to urban amenities at a lower price point than neighboring affluent districts.
Median prices moved up 14.5% year over year.
Homes spend a median of 35 days on market with 3.2 months of supply — a fast-moving market.
19% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.6% · poverty 22.2% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 12.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 02907, Providence County RI
Crime rates in the Elmwood and surrounding 02907 areas are generally higher than the national average, with property crime being the most frequently reported issue.
Public schools in this ZIP are part of the Providence Public School District, which has faced significant oversight and performance challenges in recent years.
The area is primarily urban with standard flood risks associated with older infrastructure; it is not in a high-risk wildfire zone.
Economic momentum is driven by the revitalization of historic neighborhoods and proximity to downtown Providence, though large-scale industrial growth is limited.
Property taxes are assessed by the City of Providence; the city utilizes a split-tax rate system that imposes higher burdens on commercial properties compared to residential homesteads.
Residents benefit from proximity to I-95 and I-195, providing direct access to downtown Providence and the broader New England employment corridor.
The ZIP features access to Roger Williams Park, a major regional amenity offering a zoo, botanical center, and extensive walking trails.
The rental market is characterized by high demand for multi-family units, with vacancy rates remaining tight due to the area's popularity with students and commuters.
The local economy is anchored by healthcare, education, and government services centered in nearby downtown Providence.
The area is served by RIPTA bus lines and provides easy access to the Providence Amtrak station for regional travel.
Development is primarily focused on infill housing and the adaptive reuse of older industrial buildings.
The Providence Tax Assessor manages property valuations, with revaluations occurring on a cyclical basis.
Parcels are subject to municipal taxes and standard school district levies; no major MUDs are present.
Property insurance premiums are rising in line with regional trends due to coastal storm exposure and aging housing stock.
Data retrieved from Census Reporter and ACS 2024 tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Supercharged Entertainment4.518.4 mi
- Urban Air Trampoline and Adventure Park4.519.8 mi
- United Skates of America4.35.3 mi
- R1 Indoor Karting | Time Mission, Dart City, Mission Box & Axe Bar4.66.3 mi
- Dave & Buster's Providence4.22.3 mi
- The Xfinity Center4.217.3 mi
- Supercharged Entertainment4.518.4 mi
- Amica Mutual Pavilion4.42 mi
- Rhode Island Convention Center4.42 mi
- Topgolf Rhode Island4.33.4 mi
- Bally's Lincoln3.96.5 mi
- Roger Williams Park Zoo4.60.7 mi
- RISD Museum4.72.3 mi
- Colt State Park4.810.5 mi
- Lincoln Woods State Park4.67 mi
- RISD Museum4.72.3 mi
- Lizzie Borden House (A Bed and Breakfast & Museum)4.815.5 mi
- Providence Children's Museum4.61.7 mi
- Newport Car Museum4.917.4 mi
- Blithewold Manor, Gardens & Arboretum4.712.8 mi
- Colt State Park4.810.5 mi
- Lincoln Woods State Park4.67 mi
- Roger Williams Park4.71 mi
- Goddard Memorial State Park4.69.5 mi
- Rocky Point State Park4.77.9 mi
- The Cove | Restaurant & Marina4.315 mi
- Herreshoff Marine Museum4.712.1 mi
- Harbor Lights Dining Events Golf Marina4.47.8 mi
- East Providence Yacht Club4.32.6 mi
- Rhode Island Yacht Club4.62.9 mi
- Topgolf Rhode Island4.33.4 mi
- Kirkbrae Country Club4.610.5 mi
- Triggs Memorial Golf Course4.23.1 mi
- Swansea Country Club4.48.4 mi
- Harbor Lights Dining Events Golf Marina4.47.8 mi
- Providence Place4.42.4 mi
- Warwick Mall4.35.5 mi
- Garden City Center4.62.9 mi
- Emerald Square Mall411.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A massive 435-acre park featuring a zoo, museum, and lake system.
Known for its high concentration of Victorian-era architecture.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.