Cost of Living in Cumberland Hill, RI

With a cost of living index of 95, Cumberland Hill, RI is slightly more affordable than average. Living here is 5% cheaper than the national average and 16% below the Rhode Island state average of 111. Cumberland Hill is a smaller community of 8,638 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Cumberland Hill's cost of living. The median monthly rent is $974 (26% below the US median of $1,319), and the median home value sits at $362,700 (19% above the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Cumberland Hill is $131,006, which is 74% higher than the national median of $75,149. Residents spend roughly 9% 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 Cumberland Hill. The area sees an average annual temperature of 52.1°F, with summers averaging 72°F and winters around 33°F. Annual rainfall totals 47.5 inches spread over roughly 127 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.