Cost of living in Woonsocket research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Woonsocket is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Rhode Island, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Woonsocket is 108, with 100 being the average.
The cost of living index in Woonsocket is 1.1x higher than the national average.
Woonsocket ranks as the #1 cheapest in Rhode Island out of 15.
Woonsocket ranks as the #3,954 cheapest out of 6,412 in the US.
The median home value in Woonsocket is $208,400.
The median income in Woonsocket is $48,822.
According to the most recent data on the cost of living, Woonsocket has an overall cost of living index of 108, which is 1.1x higher than the national index of 100.
Compared to Rhode Island, Woonsocket has a cost of living index that's 1.0x lower than Rhode Island's index of 111.
The standard of living in Woonsocket ranks as #1 most affordable out of the 15 places we measured in Rhode Island. By definition, that implies Woonsocket ranks as the #14 most expensive place in the Ocean State.
For more reading on life in Woonsocket, check out:
Six factors go into calculating the cost of living index in Woonsocket. Here is how it fairs on each of the criteria:
The Services index in Woonsocket is 118.
The Groceries index in Woonsocket is 111.
The Health index in Woonsocket is 108.
The Housing index in Woonsocket is 86.
The Transportation index in Woonsocket is 106.
The Utilities index in Woonsocket is 127.
|Living Expense||Woonsocket||Rhode Island||National Average|
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 2017-2021. The key points are:
The Median Home Value in Woonsocket is $208,400.
The Median Rent in Woonsocket is $974.
The Median Income in Woonsocket is $48,822.
The Home Value To Income in Woonsocket is 4.3x.
The Rent To Monthly Income in Woonsocket is 0.24x.
|Statistic||Woonsocket||Rhode Island||United States|
|Median Home Value||$208,400||$292,600||$244,900|
|Home Value To Income||4.3x||3.9x||3.5x|
|Rent To Monthly Income||0.24x||0.18x||0.2x|
The cost of living varies in the cities and towns around Woonsocket. Here's a quick look at the cost of living in the most populous nearby places:
Milford, MA has a cost of living index of 125, 1.2x Woonsocket.
Central Falls, RI has a cost of living index of 108, 1.0x Woonsocket.
Valley Falls, RI has a cost of living index of 115, 1.1x Woonsocket.
|City||Population||Cost Of Living||Vs. Woonsocket|
|Central Falls, RI||22,192||108||1.0x|
|Valley Falls, RI||12,064||115||1.1x|
|Cumberland Hill, RI||8,925||118||1.1x|
|Mansfield Center, MA||7,689||129||1.2x|