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Cost of living in Rhode Island

Everyday prices in Rhode Island run 2.3% above the US average, the 37th lowest of 51 states and DC.

By Sol Lakein. Updated November 2026.

Rhode Island next to New York and the US

Longer bar = costs more.1,4,2,3
Rhode IslandUnited StatesNew York metro

How affordable is Rhode Island?

Rent and home prices next to what households earn.6
$96,880
Typical household incomeA year · 15th highest of 51
21%
Of income goes to rentA year of 2-bed rent ($1,701/mo) against median income ($96,880). 35th lowest of 51.
5.9
Years of income to buy a home$569,900 median listing against $96,880 income. 41st lowest of 50.

Are people moving to Rhode Island?

1,551 more people left Rhode Island for other states than arrived between July 2024 and July 2025 (Census Bureau estimates).

Where Americans are moving5

Metro areas in Rhode Island

Cheapest first. Tap one for its full cost of living.1,4,2
Price levelUS averageShorter bar = cheaper, longer = pricier
  1. 1Providence-Warwick, RI-MA2% pricier than average
    2-bed rent
    $1,641
    Typical home
    $569,450
    Mortgage
    $3,129/mo

Rhode Island next to its neighbors

The states that border Rhode Island, on the same measures. The number is each state's national rank on everyday prices.1,4,2
  1. 37Rhode IslandThis state2% pricier than average
    2-bed rent
    $1,701
    Typical home
    $569,900
    Net moves
    -1,551
  2. 42Connecticut4% pricier than average
    2-bed rent
    $1,772
    Typical home
    $522,500
    Net moves
    -5,945
  3. 45Massachusetts6% pricier than average
    2-bed rent
    $2,121
    Typical home
    $714,250
    Net moves
    -33,340

Rhode Island by the numbers

Every figure on this page, as tables

Rhode Island next to New York and the US

PlacePrice levelHousingTypical homeMonthly payment2-bedroom rent
Rhode Island102.3105.6$569,900$3,132$1,701
United States100.0100.0$419,250$2,304$1,563
New York metro112.6148.6$742,000$4,078$1,997

Metro areas in Rhode Island

MetroPrice level2-bedroom rentTypical home
Providence-Warwick, RI-MA101.8$1,641$569,450

Rhode Island next to its neighbors

StatePrice level2-bedroom rentTypical homeNet moves from other states
Rhode Island102.3$1,701$569,900-1,551
Connecticut103.6$1,772$522,500-5,945
Massachusetts105.8$2,121$714,250-33,340

Net moves from other states

Year (July to July)Net moves from other states
2019-20-2,234
2020-21+405
2021-22-4,992
2022-23-3,254
2023-24-364
2024-25-1,551

States with a similar cost of living to Rhode Island

Keep comparing

Rhode Island cost of living: questions people ask

What is the cost of living in Rhode Island?

Everyday prices in Rhode Island run 2.3% above the US average, the 37th lowest of 51 states and DC (BEA, 2024). Housing costs, rent included, index at 105.6 against a US average of 100. The median listed home is $569,900 (Realtor.com, September 2026), about $3,132 a month in principal and interest. The median 2-bedroom rent is $1,701 a month, utilities included (Census, 2025). A $150,000 salary in New York buys the same as $136,297 in Rhode Island.

Is Rhode Island cheap or expensive to live in?

More expensive than average. Rhode Island's regional price parity is 102.3, 2.3% above the US average (BEA, 2024).

How much does a house cost in Rhode Island?

The median listed home in Rhode Island is $569,900 as of September 2026 (Realtor.com via FRED), against $419,250 nationally. That ranks 41st lowest of 50. With 20% down at 7.32%, principal and interest run about $3,132 a month.

How much is rent in Rhode Island?

The median gross rent for a 2-bedroom in Rhode Island is $1,701 a month, including utilities the renter pays, against $1,563 for the US (Census American Community Survey, 2025).

What salary in Rhode Island equals $150,000 in New York?

About $136,297, using BEA regional price parities for Rhode Island (102.3) and the New York metro (112.6), 2024.

Are people moving to Rhode Island?

1,551 more people left Rhode Island for other states than arrived between July 2024 and July 2025 (Census Bureau estimates).

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Notes on the numbers
  1. 1Everyday prices, housing costs and price levels: BEA regional price parities via FRED, 2024, where the US average is 100. In ranked lists, 1 is the cheapest.
  2. 2Homes: the typical home is the median listing price, Realtor.com via FRED, September 2026.
  3. 3Mortgage: Principal and interest on the median listed home with 20% down, 30-year fixed at 7.32% (Freddie Mac 30-year fixed average, week of October 22, 2026). Excludes taxes, insurance and HOA.
  4. 4Rent: Census ACS 2025 1-year, median gross rent for 2-bedroom units, including utilities.
  5. 5Net moves: US Census Bureau population estimates, net domestic migration, July to July.
  6. 6Affordability: our arithmetic on Census median gross rent (2025), Census median household income (2025) and Realtor.com median listing price (September 2026). Rank 1 is the most affordable.
Sources for this page