Cost of Living in Rhode Island

Rhode Island has a cost of living index of 111, making it 11% more expensive than the national average. The statewide median household income is $92,962 (24% above the US median of $75,149). Across 33 cities tracked in Rhode Island, costs vary widely depending on location, proximity to metro areas, and local housing markets.

Housing drives most of the variation. The average median rent across Rhode Island cities is $1,312/mo (1% below the national median of $1,319), and the average median home value is $432,650 (42% above the national figure of $304,900). There is a 48-point spread between the most affordable city, Woonsocket (index 91), and the most expensive, Newport (index 139) — a moderate range typical of states with a mix of urban and rural areas.

When evaluating Rhode Island, it helps to look beyond the state average. Individual city costs can deviate significantly — use the map and rankings below to compare specific locations.

The largest cities in Rhode Island by population are Providence (index 102, pop. 190,214), Warwick (index 101, pop. 82,871), Cranston (index 105, pop. 82,632), Pawtucket (index 94, pop. 75,280), and East Providence (index 100, pop. 46,970). Notably, all of these major cities are at or below the state average, which is unusual and suggests that smaller or resort communities are driving up the statewide figure.

Data: US Census Bureau (ACS 2023), Zillow, HUD, BEA Regional Price Parities. Updated monthly.