Providence cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexProvidenceRhode IslandNational
Cost of living index112119100
IndexProvidenceRhode IslandNational
Goods & Services index118118100
Groceries index107107100
Health care index107107100
Housing index104126100
Transportation index101101100
Utilities index139139100
Displayed above is a general overview of the Providence, RI cost of living index. The overall cost of living index in Providence, RI is 112, which is 6% lower than the Rhode Island average and 12% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Providence, RI are equal to the Rhode Island average and 18% higher than the national average.

Did you know?

  • The cost of living in Providence is 6% lower than the Rhode Island average.
  • The cost of living in Providence is 12% higher than the national average.
  • The cost of housing in Providence is 4% higher than the national average.
  • Rhode Island general sales tax is 37% higher than the national average.
  • Rhode Island state income tax is 69% higher than the national average.

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Salary Calculator

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Groceries index
Health care index
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The salary calculator is meant to help you compare your salary in Providence, RI to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Providence, RI, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Providence, RI salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$68,920$5,743$1,608$2,068
Renters$25,082$2,090$585$753
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Providence, RI as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Providence, RI homeowners, is $68,920. This would allow for a maximum of $1,608 per month to be spent on housing costs. For renters, the median monthly income is $25,082 which would result in a maximum of $585 to be spent on rental costs.

Rhode Island Sales Tax

StateGeneral Sales TaxWith Max Surtax
Rhode Island7%7%

Rhode Island Income Tax

StateIncome Tax (Low)Income Tax (High)
Rhode Island3.75%5.99%
One thing to keep in mind when considering the cost of living in Providence, RI is the Rhode Island sales tax and Rhode Island income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Rhode Island sales tax rate is 7% and the maximum surtax that can be charged is 7%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Rhode Island income tax rates range from 3.75% to 5.99%.

Goods & Services

ItemProvidenceNational avg.Difference
Haircut $16.67$15.567.1%
Beauty Salon $48.75$36.1135.0%
Toothpaste $3.97$2.4760.6%
Shampoo $0.99$0.962.6%
Movie $11.17$10.1310.3%
Bowling $4.77$4.740.7%

Groceries

ItemProvidenceNational avg.Difference
Ground Beef $4.56$3.9814.4%
Fried Chicken $1.49$1.415.9%
Milk $2.56$2.0623.9%
Potatoes $3.99$2.9833.8%
Pizza $8.83$9.476.8%
Beer $9.44$8.797.3%

Health Care

ItemProvidenceNational avg.Difference
Optometrist $123.75$101.0422.5%
Doctor $142.56$107.4432.7%
Dentist $88.44$90.422.2%
Ibuprofen $8.99$9.283.1%
Lipitor $391.73$426.508.2%

Housing

ItemProvidenceNational avg.Difference
Home Price $186,000.00$175,700.005.9%
Avg. Mortgage Payment $1,459.71$1,133.2328.8%
Apartment Rent $910.00$920.001.1%

Transportation

ItemProvidenceNational avg.Difference
Gasoline $1.97$1.991.0%
Tire Balancing $49.00$45.767.1%

Utilities

ItemProvidenceNational avg.Difference
All Electricity$243.22$163.8148.5%
Phone $36.19$28.3927.5%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Central Falls, RI19,4061088%
Woonsocket, RI41,1361099%
Pawtucket, RI71,31311010%
Chepachet, RI1,51011212%
Pascoag, RI4,31011414%
Providence, RI178,56211212%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Overland Park, KS178,9451044%
Santa Clarita, CA179,03013939%
Brownsville, TX179,83478-22%
Grand Prairie, TX181,13597-3%
Newport News, VA181,3621044%
Providence, RI178,56211212%
Source: The Providence, RI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.