State profile
Rhode Island Cost of Living Comparison
Rhode Island's 2024 price level is 102.280, 2.28% above the national level and the lowest in southern New England; its utilities, at 146.653, cost even more than Connecticut's.
Updated
102.280Rhode Island all-items price level, U.S. = 100 · rank 37 of 51, lowest first
| Measure | Rhode Island | Alaska | First − second |
|---|---|---|---|
| All-items price level | 102.280 | 102.359 | −0.079 points |
| Rent price level | 105.620 | 93.784 | +11.836 points |
| Home value | $404,200±$4,032 | $352,900±$3,735 | +$51,300 |
| Two-bedroom gross rent | $1,457±$28 | $1,434±$21 | +$23 |
| Household income | $87,796±$1,209 | $92,788±$1,232 | −$4,992 |
| Real estate taxes paid | $4,900±$36 | $3,901±$70 | +$999 |
$4,000 of monthly spending in Rhode Island scales to $4,003 in Alaska at the 2024 all-items price ratio.
BEA 2024 and ACS 2020–2024; ± marks the Census 90% margin. How to read a gap
Rhode Island: the cheaper corner of southern New England
Rhode Island undercuts both of its neighbours on the headline measure: Massachusetts is at 105.757 and Connecticut at 103.610. The saving is in rents. Rhode Island's rent parity of 105.620 compares with 128.068 in Massachusetts, and its two-bedroom gross-rent median of $1,457 is $419 a month below the Massachusetts median of $1,876.
Utilities are the exception. At 146.653, Rhode Island's utilities parity is 46.65% above the national level, ranks 48th of 51 and edges out Connecticut's 146.495. Goods (97.165) are below the U.S. level and other services (102.840) a little above it.
Owners face a substantial tax bill. The typical property-tax bill, $4,900 a year, ranks ninth and keeps paid-off homes expensive to hold: $898 a month at the median. The median home value is $404,200, rank 14.
Household incomes are higher than real per capita income suggests. The median household income of $87,796 ranks 15th, while real per capita personal income, adjusted for prices, is $55,878, rank 35. Renters spend 29.2% of income on gross rent.
The state government collected $4,909 per resident in fiscal 2025, rank 16. Individual income tax supplied 33.4%, general sales 30.6% and other selective sales 19.0%, or $932 per resident.
The relative price level spiked in 2022 at 104.453 and has since returned to 102.280, slightly above the 101.771 of 2020. Alaska (102.359) is Rhode Island's nearest price level nationally.
Category price levels in Rhode Island
| Category | Parity | Rank, low first | vs U.S. |
|---|---|---|---|
| All items | 102.280 | 37 | 2.28% above |
| Goods | 97.165 | 29 | 2.83% below |
| Housing (rents) | 105.620 | 34 | 5.62% above |
| Utilities | 146.653 | 48 | 46.65% above |
| Other services | 102.840 | 43 | 2.84% above |
| Real income per person, 2017 $ | $55,878 | 35 | U.S. $59,195 |
All items by year: 2020 101.771 · 2021 102.190 · 2022 104.453 · 2023 102.065 · 2024 102.280 (+0.509 since 2020). How to read categories and trends
Monthly housing costs
- Owners with a mortgage
- $2,234±$17 · rank 12, high first
- Owners without a mortgage
- $898±$10 · rank 7
- Renters: gross rent / income
- 29.2%±0.5 · rank 30
Rhode Island state tax collections, FY2025
$5.47 billion in total, $4,909 per resident. Scope of these figures
| Tax | FY2025 | Share | Per resident |
|---|---|---|---|
| Individual income | $1.83 billion | 33.4% | $1,641 |
| General sales | $1.68 billion | 30.6% | $1,504 |
| Property | $5.1 million | 0.1% | $5 |
| Motor fuel | $153.7 million | 2.8% | $138 |
| Other selective sales | $1.04 billion | 19.0% | $932 |
| Corporate income | $531.2 million | 9.7% | $477 |
| Licenses | $139.0 million | 2.5% | $125 |
| Severance | not levied | ||
| Other taxes | $99.3 million | 1.8% | $89 |
Rhode Island beside its neighbours
| Jurisdiction | All items | Rents | Goods | 2BR rent |
|---|---|---|---|---|
| Rhode Island | 102.280 | 105.620 | 97.165 | $1,457 |
| Connecticut | 103.610 | 117.048 | 97.330 | $1,584 |
| Massachusetts | 105.757 | 128.068 | 98.820 | $1,876 |
Beyond its two borders, the nearest 2024 all-items price levels to Rhode Island:
Before you budget a move
A Rhode Island comparison should specify whether the job and dwelling are both in the state. A Massachusetts commute, for example, creates work-location questions that the statewide price level cannot answer. Put offered compensation, benefits and prepared taxes in their own annual cash-flow lines.
For Providence-area or another Rhode Island destination, collect an actual lease or listing and identify tenant utilities. The historical two-bedroom rent statistic concerns cash-rent households throughout the state. It does not describe one rental contract, a temporary stay or the financing of an owner-occupied dwelling.
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