Rhode Island cost of living
Prices in Rhode Island run at 102.3 against a national average of 100, which makes it the 15th most expensive of the 51 jurisdictions. Housing is the part that separates states: rents there sit at 105.6.
Where the difference actually is
Prices in Rhode Island run at 102.3 where the national average is 100, so about 2.3 per cent above the country as a whole. It ranks #15 of 51 states.
The parts move together here rather than pulling against each other: goods at 97.2, rents at 105.6, other services at 146.7. When the components agree, the headline number is a fair summary of the whole cost of living rather than a proxy for rent.
The practical use of this number is converting pay between places. Take any salary quoted here, divide by 102.3, multiply by 100, and you have what it would need to be nationally to leave you equally well off.
The vertical line is the national average of 100. Source: U.S. Bureau of Economic Analysis, Regional Price Parities, SARPP, 2024.
What it costs, in actual money
Parities are ratios. These are the figures behind them for Rhode Island, drawn from the other datasets on this site.
| Rhode Island | |
|---|---|
| Median home value | $368,800 |
| Median gross rent | $1,273 a month |
| Median household income | $86,372 |
| Average electricity bill | $165 a month |
| Effective property tax | 1.32% |
Everything about Rhode Island Property tax by county Salaries
Metro areas in Rhode Island
Within a state, cities and rural areas diverge sharply. A statewide parity averages over that.
| Metro area | All items | Goods | Rents | Rank |
|---|---|---|---|---|
| Providence-Warwick | 101.8 | 97.1 | 103.9 | #59 |
Rhode Island cost of living: common questions
Is Rhode Island expensive to live in?
Prices overall are 2.3% above the national average, at a parity of 102.3 where 100 is the country as a whole. It ranks #15 of 51. Goods run at 97.2, rents at 105.6 and other services at 146.7.
What is a salary in Rhode Island really worth?
The median wage there is $54,040. Adjusted for local prices that buys what $52,825 buys nationally. A state that pays well and costs more can leave a household no better off, and this is the arithmetic that shows it.
What is a regional price parity?
An official measure from the Bureau of Economic Analysis of what a dollar buys in one place against the national average, set at 100. It is built from the same price collection that underlies the consumer price index, extended to compare places rather than time periods. It is the only government measure of cost of living differences between states.
Why is housing treated separately?
Because it carries most of the difference. In Rhode Island rents sit 3.3 points above the state's overall parity. Goods barely vary between states, since most of them are shipped nationally; services vary more; housing varies enormously. Any cost of living comparison that does not separate housing is mostly measuring housing anyway.