Providence

Providence, Rhode Island is a growing city with a population of approximately 190,792. The overall cost of living index sits at 114, which is above the national average of 100. This means everyday expenses — housing, groceries, transportation, and healthcare — are roughly 14% more expensive compared to the typical U.S. city.

Housing is the largest cost driver in Providence. Median rent is $2,187 per month, while the median home price is $420,051. At a median household income of $66,772, rent consumes roughly 39% of gross income, which represents a moderate housing cost burden. The housing sub-index of 136 highlights significantly elevated shelter costs.

Beyond housing, healthcare is the most elevated non-shelter expense in Providence with a sub-index of 118, while utilities is comparatively more affordable at 105. State-level taxes also shape the true cost of living: Rhode Island applies a 5.99% income tax rate, and property tax averages 1.24% of assessed home value. The combined sales tax rate is 7.00%. Local income tax may apply in some municipalities.

Over the past twelve months, the cost of living in Providence has remained relatively stable. Among the 1 tracked cities in Rhode Island, Providence ranks #1 from most to least affordable. Whether you're evaluating a job offer, planning a relocation, or comparing salary purchasing power, these numbers give a grounded, data-backed view of what life in Providence actually costs.