Woonsocket 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.
IndexWoonsocketRhode IslandNational
Cost of living index109119100
IndexWoonsocketRhode IslandNational
Goods & Services index118118100
Groceries index107107100
Health care index107107100
Housing index93126100
Transportation index101101100
Utilities index139139100
Here we can see a simple outline of the cost of living in Woonsocket, RI. As you can see, with the average cost of living in Woonsocket, RI being 109, that puts it 8% lower than the average of Rhode Island and 9% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Woonsocket, RI, the price of goods and services are equal to the average of Rhode Island as well as 18% higher than the nation's average.

Did you know?

  • The cost of living in Woonsocket is 8% lower than the Rhode Island average.
  • The cost of living in Woonsocket is 9% higher than the national average.
  • The cost of housing in Woonsocket is 7% lower 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 Woonsocket, RI Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
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Transportation index
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Using the salary calculator lets you compare the salary you earn in Woonsocket, RI to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Woonsocket, RI, you have to earn a higher income in order to still have the same standard of living. To operate the Woonsocket, RI salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$64,288$5,357$1,500$1,929
Renters$24,410$2,034$570$732
If you want to find a good determining factor for the cost of living and the general affordability of housing in Woonsocket, RI, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Woonsocket, RI, the median monthly income is $64,288 for those who own their own homes. Under the standard rule, that income level would allow for $1,500 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,410, per the median income in the area. That would allow for renters to spend up to $570 on monthly rental expenses.

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%
The Rhode Island sales tax and Rhode Island income tax rates should definitely be considered when determining the overall cost of living in Woonsocket, RI. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Rhode Island sales tax is 7% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Rhode Island income tax rates range from 3.75% to 5.99%.

Goods & Services

ItemWoonsocketNational 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

ItemWoonsocketNational 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

ItemWoonsocketNational 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

ItemWoonsocketNational avg.Difference
Home Price $168,200.00$175,700.004.3%
Avg. Mortgage Payment $1,459.71$1,133.2328.8%
Apartment Rent $805.00$920.0012.5%

Transportation

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

Utilities

ItemWoonsocketNational 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%
Pawtucket, RI71,31311010%
Providence, RI178,56211212%
Chepachet, RI1,51011212%
Pascoag, RI4,31011414%
Woonsocket, RI41,1361099%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Urbandale, IA41,15796-4%
Wilkes-Barre, PA41,20288-12%
Linden, NJ41,05412121%
Findlay, OH41,29791-9%
Leominster, MA40,95411212%
Woonsocket, RI41,1361099%
Source: The Woonsocket, RI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.