Housing costs in Providence?
A typical home costs
$315,700, which is 6.6% less expensive than the national average of
$338,100 and 21.3% less expensive than the average Rhode Island home, at
$401,200. Renting a two-bedroom unit in Providence costs
$1,380 per month, which is 3.5% cheaper than the national average of
$1,430 and 3.6% cheaper than the state average of
$1,430.
Can I afford Providence?
To live comfortably in Providence (zip 02904), Rhode Island, a minimum annual income of
$60,480 for a family, and
$46,000 for a single person is recommended.
What does A.I. say about Providence?
The cost of living in 02904 Providence, RI is slightly higher than the national average. According to the cost of living index, the city's overall costs are 104.3, which means that it is 4.3% more expensive than the rest of the country. The biggest contributors to this figure are housing, transportation, and healthcare costs, all of which are higher than average in Providence. That being said, the cost of basic goods such as food and clothing is relatively reasonable. Thus, although 02904 may be slightly pricier than other areas in the US, it remains an attractive option for those looking to make a home in Providence.