Wakefield-Peacedale 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.
IndexWakefield-PeacedaleRhode IslandNational
Cost of living index128121100
IndexWakefield-PeacedaleRhode IslandNational
Goods & Services index123123100
Groceries index111111100
Health care index117117100
Housing index148126100
Transportation index111111100
Utilities index126126100
A general summary of the cost of living index in Wakefield-Peacedale, RI is shown above. Compared to the state average of Rhode Island the cost of living index in Wakefield-Peacedale, RI is 128, which is 5% higher than the average in Rhode Island and compared to the national average it is 28% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Wakefield-Peacedale, RI goods and services come in at equal to the average in Rhode Island and are 23% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Wakefield-Peacedale is 5% higher than the Rhode Island average.
  • The cost of living in Wakefield-Peacedale is 28% higher than the national average.
  • The cost of housing in Wakefield-Peacedale is 48% 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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Compare Wakefield-Peacedale, RI Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Wakefield-Peacedale, RI would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Wakefield-Peacedale, RI, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Wakefield-Peacedale, RI salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
The affordability of the housing market in Wakefield-Peacedale, RI as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Wakefield-Peacedale, RI homeowners, the median income is $88,534. This indicates that a monthly maximum of $2,066 should be spent by homeowners on all housing related costs. Renters have a median income of $28,160. This indicates that renters should have a maximum of $657 used for their rent related monthly 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%
When you are determining the total cost of living in Wakefield-Peacedale, RI you will want to make sure you consider both the Rhode Island sales tax and the Rhode Island income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Rhode Island is 7%, with the highest surtax being 7%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Rhode Island have a range from 3.75% to 5.99%.

Goods & Services

ItemWakefield-PeacedaleNational avg.Difference
Haircut $15.00$14.592.8%
Beauty Salon $40.00$34.6815.3%
Toothpaste $2.50$2.471.1%
Shampoo $1.25$1.0222.3%
Movie $11.75$9.8719.1%
Bowling $4.75$4.398.2%


ItemWakefield-PeacedaleNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.59$1.468.6%
Milk $3.39$2.3643.8%
Potatoes $3.99$3.0630.3%
Pizza $8.50$9.248.0%
Beer $8.32$8.633.6%

Health Care

ItemWakefield-PeacedaleNational avg.Difference
Optometrist $125.00$99.7825.3%
Doctor $149.00$105.0341.9%
Dentist $98.00$88.7010.5%
Ibuprofen $10.25$9.418.9%
Lipitor $293.99$298.501.5%


ItemWakefield-PeacedaleNational avg.Difference
Home Price $299,000.00$175,700.0070.2%
Avg. Mortgage Payment $1,392.30$1,081.0328.8%
Apartment Rent $873.00$920.005.1%


ItemWakefield-PeacedaleNational avg.Difference
Gasoline $2.33$2.0911.4%
Tire Balancing $49.00$45.298.2%


ItemWakefield-PeacedaleNational avg.Difference
All Electricity$213.54$170.8025.0%
Phone $36.19$28.2628.1%
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.
Bradford, RI1,21212020%
Tiverton, RI7,30012222%
Ashaway, RI1,30712222%
Wyoming, RI15612525%
Hope Valley, RI1,69613131%
Wakefield-Peacedale, RI8,91112828%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Good Hope, CA8,9111033%
Mecca, CA8,91297-3%
Middletown, PA8,90993-7%
Versailles, KY8,90889-11%
Glenshaw, PA8,90897-3%
Wakefield-Peacedale, RI8,91112828%
Source: The Wakefield-Peacedale, RI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.