Housing costs in Rhode Island?
A typical home costs
$401,200, which is 18.7% more expensive than the national average of
$338,100 and 0.0% less expensive than the average Rhode Island home, at
$401,200. Renting a two-bedroom unit in Rhode Island costs
$1,430 per month, which is 0.0% more than the national average of
$1,430 and close to the state average of
$1,430.
Can I afford Rhode Island?
To live comfortably in Rhode Island, a minimum annual income of
$77,040 for a family, and
$47,600 for a single person is recommended.
What does A.I. say about Rhode Island?
The cost of living in Rhode Island State is higher than the national average. Housing costs are significantly higher, as is the cost of utilities and other basic necessities. Taxes are also higher in Rhode Island, although it does have one of the lowest sales taxes in the country. In addition, because the state is so small and has limited land resources, the cost of goods can be high due to transportation costs. Despite these high costs, Rhode Island offers a variety of cultural and recreational attractions that make living in the state worthwhile for many individuals and families.