Cost of Living in Ashaway, RI

With a cost of living index of 101, Ashaway, RI is right around the national average in cost. Living here is 1% more expensive than the national average and 10% below the Rhode Island state average of 111. Ashaway is a small community of 1,682 residents.

Housing costs are the biggest factor in Ashaway's cost of living. The median monthly rent is $1,318 (0% below the US median of $1,319), and the median home value sits at $305,600 (0% below the national median of $304,900). At current prices, the median home costs roughly 3x the median household income — well within traditional affordability guidelines.

The median household income in Ashaway is $101,165, which is 35% higher than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Ashaway. The area sees an average annual temperature of 52.5°F, with summers averaging 71°F and winters around 34°F. Annual rainfall totals 42.8 inches spread over roughly 123 days.

Everyday prices in the Providence-Warwick, RI-MA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.