Cost of Living in Providence, RI
Providence has a cost of living index of 104 (100 = national average), making it close to the national average. The median household income is $42,658 and the median home price is $340,000.
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Providence at a Glance
Population
189,692
Cost of Living Index
104
Median Income
$42,658
Median Home Price
$340,000
Property Tax Rate
2.47%
Sales Tax Rate
7.00%
Rent Index
95
State
Rhode Island
Living in Providence
Providence has a cost of living slightly above the national average. While housing at $340,000 is a significant expense, the area offers a balance between cost and quality of life.
The combined sales tax rate in Providence is 7.00%, and the effective property tax rate is 2.47%. Property taxes are above the national average, which is an important consideration for homebuyers.