Cost of Living in Foster Center, RI

With a cost of living index of 110, Foster Center, RI is somewhat more expensive than average. Living here is 10% more expensive than the national average and in line with the Rhode Island state average. Foster Center is a small community of 328 residents.

Housing costs are the biggest factor in Foster Center's cost of living. The median monthly rent is $1,245 (6% below the US median of $1,319), and the median home value sits at $450,000 (48% above the national median of $304,900). At current prices, the median home costs roughly 8x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Foster Center is $56,027, which is 25% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Climate is another factor for anyone considering a move to Foster Center. 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.