East Providence’s Zillow ZHVI typical home value is $452,910, while Zillow ZORI typical observed market rent is $1,908 a month. That produces a 5.1% gross yield before every operating cost. The value equals 6.0x ACS median household income, and annualized ZORI equals 30.2% of that income. These citywide measures define the pre-expense revenue frame; financing, taxes, insurance, repairs, vacancy and management still determine property-level cash flow.
In the city, renters hold 40.1% of occupied units, and citywide vacancy is 4.9%. Single-family homes make up 56.2% of stock, while large multifamily buildings make up 13.5%. ACS reports a $365,500 median value for surveyed owner-occupied homes and $1,288 median gross rent, including selected utilities, for surveyed occupied rentals. Those ACS measures differ in coverage and period from Zillow’s typical home value and observed market rent, so they should not be blended. The ACS median year built is 1958, so physical condition and capital needs require asset-specific review.
Among city renters, 48.5% pay at least 30% of income toward gross rent. Of all city vacancies, 11.3% are categorized for rent; that does not predict lease-up for a specific unit. Population declined 0.4% between overlapping ACS five-year vintages; the change is not annualized and may reflect boundary changes. Median household income is $75,912, while the poverty rate is 10.1% and unemployment is 5.5%. These are descriptive demand constraints, not causal findings; structure, burden and vacancy-reason survey shares do not measure available investment inventory.
Providence County’s supplied property-tax rate is 1.3%, while county listings had a median 29 days on market; both are county context, not city measures. In the broader Providence metro, metro months of supply was 2.5, while metro jobs were down 0.3% year over year. These are separate metro housing and labor indicators, not city measures. The national Freddie Mac 30-year mortgage rate was 6.7%, making financing assumptions a material sensitivity.
The principal limitation is that citywide and wider-context statistics cannot reveal a property’s achievable rent, physical condition, legal use, tenant profile or expense load. Before acting, verify the asking price against relevant comparables; inspect roof, structure, systems and deferred maintenance; confirm unit count, zoning, leases, utility responsibility and taxes; obtain insurance and hazard quotes; and model vacancy, turnover, maintenance, management and financing. Reconcile advertised rent with property-level leases rather than substituting either city Zillow rent or ACS gross rent.