The small town of Block Island, Rhode Island (zip code 02807) is a popular destination for travelers who enjoy the quiet atmosphere and stunning views. With a population of just under 1,000 people, it's no surprise that the cost of living is quite affordable. The average 2 bedroom rent in Block Island is $1,270 per month, which is significantly lower than the US average of $1,430. The Grocery Cost Index in Block Island is 120 versus 100 in the US, so groceries are also quite affordable.
There are plenty of local companies and services to suit locals' needs around Block Island. For example, there is Ballard Hall Real Estate for those looking to buy or rent property; Ballard & Ballard Fuel Co for fuel delivery; G&R Marine Services for boat repair and maintenance; and four grocery stores: Zab, Doug’s Fish Market & Clam Shack, Turner’s Seafood and Buster’s Market.
Block Island (zip 02807) has an unemployment rate of 6.5%. The US average is 6.0%.
Block Island (zip 02807) has seen the job market decrease by -9.5% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Block Island (zip 02807)
- The Sales Tax Rate for Block Island (zip 02807) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Block Island (zip 02807) 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 Block Island (zip 02807)
- The average income of a Block Island (zip 02807) resident is $37,067 a year. The US average is $37,638 a year.
- The Median household income of a Block Island (zip 02807) resident is $72,279 a year. The US average is $69,021 a year.