What is the cost of living in Providence, RI?
According to the most recent data on the cost of living, Providence has an overall cost of living index of 111, which is 1.1x higher than the national index of 100.
Compared to Rhode Island, Providence has a cost of living index that's 1.0x lower than Rhode Island's index of 112.
The standard of living in Providence ranks as #6 most affordable out of the 15 places we measured in Rhode Island. By definition, that implies Providence ranks as the #9 most expensive place in the Ocean State.
For more reading on life in Providence, check out:
Providence Cost Of Living Vs. Rhode Island
Six factors go into calculating the cost of living index in Providence. Here is how it fares on each of the criteria:
The Services index in Providence is 101.
The Groceries index in Providence is 103.
The Health index in Providence is 118.
The Housing index in Providence is 106.
The Transportation index in Providence is 104.
The Utilities index in Providence is 109.
| Living Expense | Providence | Rhode Island | National Average |
|---|---|---|---|
| Overall | 111 | 112 | 100 |
| Services | 101 | 104 | 100 |
| Groceries | 103 | 102 | 100 |
| Health | 118 | 125 | 100 |
| Housing | 106 | 106 | 100 |
| Transportation | 104 | 107 | 100 |
| Utilities | 109 | 108 | 100 |
Providence Cost Of Living Compared To Rhode Island Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Rhode Island, check out:
- Most Expensive Cities In Rhode Island
- Most Affordable Cities In Rhode Island
- Average Rent In Rhode Island
Source: Cost-of-living index 2026, normalized to US average = 100
Providence, RI Housing Cost Breakdown
Housing swings affordability the most between places in Rhode Island, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Providence is $426,006.
The Median Rent in Providence is $1,408.
The Median Income in Providence is $68,119.
The Home Value To Income in Providence is 6.3x.
The Rent To Monthly Income in Providence is 0.25x.
| Statistic | Providence | Rhode Island | United States |
|---|---|---|---|
| Median Home Value | $426,006 | $499,271 | $332,700 |
| Median Rent | $1,408 | $1,342 | $1,413 |
| Median Income | $68,119 | $87,796 | $80,734 |
| Home Value To Income | 6.3x | 5.7x | 4.1x |
| Rent To Monthly Income | 0.25x | 0.18x | 0.21x |
Providence, RI Costs By Category
Detailed Providence Services costs vs. Rhode Island
| Item | Providence | Rhode Island |
|---|---|---|
| Shampoo | $1.43 | $1.28 |
| Movie | $14.37 | $12.13 |
| Bowling | $22.72 | $18 |
| Haircut | $31.5 | $24.26 |
| Beauty Salon | $49.92 | $45.56 |
Detailed Providence Groceries costs vs. Rhode Island
| Item | Providence | Rhode Island |
|---|---|---|
| Ground Beef | $5.85 | $5.84 |
| Fried Chicken | $1.43 | $1.57 |
| Milk | $4.74 | $4.67 |
| Potatoes | $5.0 | $4.93 |
| Pizza | $11.59 | $12.09 |
| Beer | $10.74 | $10.41 |
| Toothpaste | $3.46 | $3.7 |
Detailed Providence Health costs vs. Rhode Island
| Item | Providence | Rhode Island |
|---|---|---|
| Optometrist | $104.45 | $125.68 |
| Doctor | $169.83 | $135.78 |
| Dentist | $130.28 | $113.29 |
Detailed Providence Transportation costs vs. Rhode Island
| Item | Providence | Rhode Island |
|---|---|---|
| Gasoline | $3.38 | $3.46 |
| Tire Balancing | $48.2 | $59.92 |
Detailed Providence Utilities costs vs. Rhode Island
| Item | Providence | Rhode Island |
|---|---|---|
| All Electricity | $230.62 | $193.99 |
| Phone | $195.18 | $192.25 |
Providence SnackAbility
Cost Of Living In Cities Around Providence
The cost of living varies in the cities and towns around Providence. Here's a quick look at the cost of living in the most populous nearby places:
Cranston, RI has a cost of living index of 115, 1.0x Providence.
Warwick, RI has a cost of living index of 109, 1.0x Providence.
Pawtucket, RI has a cost of living index of 106, 1.0x Providence.
| City | Population | Cost Of Living | Vs. Providence |
|---|---|---|---|
| Cranston, RI | 83,250 | 115 | 1.0x |
| Warwick, RI | 83,175 | 109 | 1.0x |
| Pawtucket, RI | 75,893 | 106 | 1.0x |
| East Providence, RI | 47,281 | 109 | 1.0x |
| Attleboro, MA | 46,762 | 127 | 1.1x |
| Woonsocket, RI | 43,521 | 106 | 1.0x |
| Central Falls, RI | 22,701 | 105 | 0.9x |
| Somerset, MA | 18,298 | 123 | 1.1x |
| Valley Falls, RI | 12,657 | 114 | 1.0x |
| Cumberland Hill, RI | 8,648 | 114 | 1.0x |
