Providence, RI (02905) is an attractive area for those seeking to rent a two bedroom apartment, as the median cost of $1,430 is comparable to the national average. It also has a slightly higher grocery cost index of 105 compared to 100 in the US. There are many local businesses providing employment opportunities for Providence residents. These include Citizens Bank, the largest retail bank in Rhode Island with headquarters in Providence, specializing in banking services; Hasbro Inc., one of the world’s largest toy manufacturers based in nearby Pawtucket; and CVS Health, a health services company headquartered in Woonsocket. Providence also has a thriving tech industry with companies such as GTECH Corporation and Infosys Technologies leading the way.
Providence (zip 02905) has an unemployment rate of 8.6%. The US average is 6.0%.
Providence (zip 02905) has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 28.6%, which is lower than the US average of 33.5%.
Tax Rates for Providence (zip 02905)
- The Sales Tax Rate for Providence (zip 02905) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Providence (zip 02905) 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 (zip 02905)
- The average income of a Providence (zip 02905) resident is $20,995 a year. The US average is $28,555 a year.
- The Median household income of a Providence (zip 02905) resident is $45,594 a year. The US average is $69,021 a year.