Providence, Rhode Island gets a BestPlaces Cost of Living index of 108.8, which means the total cost of housing, food, child care, transportation, health care, taxes, and other necessities is 8.8 percent higher than the U.S. average and 3.3 percent higher than the average for Rhode Island.
A typical home costs $350,800, which is 3.8 percent more expensive than the national average of $338,100 and 12.6 percent less expensive than the average Rhode Island home, at $401,200. Renting a two-bedroom unit in Providence costs $1,490 per month, which is 4.2 percent more than the national average of $1,430 and 4.0 percent more than the state average of $1,430.
To live comfortably in Providence, Rhode Island, a minimum annual income of $67,320 for a family, and $49,600 for a single person is recommended.
Our cost of living indices are based on a US average of 100. An amount below 100 means Providence is cheaper than the US average. A cost of living index above 100 means Providence, Rhode Island is more expensive.
Providence cost of living is 108.8