The Providence-Warwick, RI Metro Area is a great place to live with a strong economy and plenty of job opportunities. The 2 bedroom rent is on par with the US average at $1,460 per month. Additionally, it has a Grocery Cost Index of 107 versus 100 in the US which means that groceries are slightly more expensive than the national average. This area is home to several major companies, such as Hasbro, Textron, CVS Health Corporation, Nortek Air Solutions LLC, Blue Cross & Blue Shield of Rhode Island, and Gilbane Building Company. These employers make Providence-Warwick a desirable place to live for its job market but due to higher housing prices and grocery costs associated with living in this area the cost of living may be somewhat higher than other parts of the US.
Providence-Warwick Metro Area has an unemployment rate of 7.2%. The US average is 6.0%.
Providence-Warwick Metro Area has seen the job market decrease by -8.8% over the last year. Future job growth over the next ten years is predicted to be 31.7%, which is lower than the US average of 33.5%.
Tax Rates for Providence-Warwick Metro Area
- The Sales Tax Rate for Providence-Warwick Metro Area is 6.7%. The US average is 7.3%.
- The Income Tax Rate for Providence-Warwick Metro Area is 3.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Providence-Warwick Metro Area
- The average income of a Providence-Warwick Metro Area resident is $39,267 a year. The US average is $37,638 a year.
- The Median household income of a Providence-Warwick Metro Area resident is $74,422 a year. The US average is $69,021 a year.