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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Let's be honest: Rhode Island isn't cheap. But within that premium market, there are cities where your dollar stretches meaningfully further. Providence proves it with a cost index of 114, the lowest in Rhode Island, and we've ranked all 1 contenders to help you find the best deal in an expensive la…
Let's be honest: Rhode Island isn't cheap. But within that premium market, there are cities where your dollar stretches meaningfully further. Providence proves it with a cost index of 114, the lowest in Rhode Island, and we've ranked all 1 contenders to help you find the best deal in an expensive landscape.
What does daily life actually cost in Providence? Start with the 39% rent-to-income ratio — stretched, especially for single earners. On the category level, Utilities (index 105) is where the real savings show up, while Housing (index 136) is the line item most likely to surprise newcomers. Income at $66,772 and homes at $420,051 round out a profile that ranks #1 for clear reasons.
What to do with this data: use the ranking as a shortlist, then dig into the city profiles for trend lines and category breakdowns. The difference between #1 and #5 is often smaller than the difference between "good on paper" and "actually fits my life." Compare your top picks with our calculator to see real take-home numbers.
#1 Ranked: Providence — cost index 114, rent $2,187/mo, income $66,772
0 of 1 cities keep rent under 30% of $40K gross income
Data sourced from Census Bureau, Zillow, BLS, and Tax Foundation — current as of 2026
| Rank | City | Median Rent | Rent % of Gross | Cost Index | |
|---|---|---|---|---|---|
| 1 | Providence | $2,187 | 66% | 114 | Details |
190,792 residents · Rhode Island
What does daily life actually cost in Providence? Start with the 39% rent-to-income ratio — stretched, especially for single earners. On the category level, Utilities (index 105) is where the real savings show up, while Housing (index 136) is the line item most likely to surprise newcomers. Income at $66,772 and homes at $420,051 round out a profile that ranks #1 for clear reasons.
| City | State Tax | Sales Tax | Property Tax | Est. Take-Home |
|---|---|---|---|---|
1Providence | 5.99% | 7% | 1.24% | $29,976 |
We calculate what percentage of a $40K gross salary goes to median rent. Cities where rent consumes less of your paycheck rank higher. We also factor in estimated take-home pay after federal taxes, FICA (7.65%), and state income tax. All data is sourced from federal agencies and verified research institutions. Cost of living indices are normalized to 100 (national median) using Zillow rent as the primary signal, with sub-category adjustments derived from regional BLS price data. Rankings are updated monthly as new data is released.
Providence ranks #1 in Rhode Island for this analysis with a cost index of 114 and median income of $66,772.
Yes. On a $40K salary in Providence, rent would consume about 66% of your gross monthly income. Financial experts recommend keeping rent under 30%. It's tight — consider a roommate or nearby suburb.
Our cost of living index uses real Zillow rent data as the foundation, indexed to 100 (national median). Sub-categories (housing, food, transport, utilities, healthcare) are derived from the overall index with regional adjustments. Data is updated monthly.
City data is refreshed monthly from Census Bureau population estimates, Zillow rent and home price indices, BLS salary data, and Tax Foundation tax rates. Last updated: 2026.
The median 1-bedroom rent in Providence is $2,187/month as of 2026, based on Zillow's Observed Rent Index. This is $292 above the national median of $1,895/month.
After federal taxes, FICA (7.65%), and 5.99% state income tax, estimated take-home on $40K in Providence is approximately $29,976/year ($2,498/month). After median rent of $2,187/month, you'd have roughly $3,732/year for all other expenses.
The median home price in Providence is $420,051, which is 6.3× the local median income. Most median-income households would stretch to buy at this ratio. The national median home price is $467,370.
Rhode Island has a 5.99% state income tax rate. Combined state and local sales tax averages 7%, and the effective property tax rate is 1.24%.
This ranking was generated using data current as of early 2026. Population and income data comes from the Census Bureau's American Community Survey (5-year estimates). Rent and home price data is from Zillow's monthly releases. Tax rates are from the Tax Foundation's 2025 edition. Rankings are refreshed monthly.