Cost Of Living in Pascoag, RI

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Pascoag	Rhode Island	National
Cost of living	111	112	100
Goods & Services	115	115	100
Groceries	102	102	100
Health care	108	108	100
Housing	117	120	100
Transportation	93	93	100
Utilities	112	112	100

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Cost Of Living Quick Facts

The cost of living in Pascoag is 1% lower than the Rhode Island average
The cost of living in Pascoag is 11% higher than the national average
Pascoag housing is 17% higher than the national average
Rhode Island general sales tax is 37% higher than the national average
Rhode Island state income tax is 44% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$103,246	$8,604	$2,409	$3,098
Renters	$74,472	$6,206	$1,738	$2,234

A good way to judge both the affordability of the housing and the cost of living in Pascoag is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Pascoag has a median income of about $103,246 for people who own homes. Based on that number, a maximum of $2,409 should be spent on expenses related to housing. Renters have a slightly different median income, which is $74,472. Based on this average, renters should spend no more than $1,738 on all rental costs if they want to maintain a non-impoverished standard of living.

Rhode Island Sales Tax

State	General Sales Tax	With Max Surtax
Rhode Island	7%	7%

Rhode Island Income Tax

State	Income Tax (Low)	Income Tax (High)
Rhode Island	3.75%	5.99%

Goods & Services

Item	Pascoag	National avg.	Difference
Haircut	$31.50	$24.26	29.8%
Beauty Salon	$49.92	$45.56	9.6%
Toothpaste	$3.46	$3.70	6.5%
Shampoo	$1.43	$1.28	11.4%
Movie	$14.37	$12.13	18.4%
Bowling	$22.72	$18.00	26.2%

Groceries

Item	Pascoag	National avg.	Difference
Ground Beef	$5.85	$5.84	0.2%
Fried Chicken	$1.43	$1.57	8.9%
Milk	$4.74	$4.67	1.4%
Potatoes	$5.00	$4.93	1.3%
Pizza	$11.59	$12.09	4.1%
Beer	$10.74	$10.41	3.1%

Health Care

Item	Pascoag	National avg.	Difference
Optometrist	$104.45	$125.68	16.9%
Doctor	$169.83	$135.78	25.1%
Dentist	$130.28	$113.29	15.0%
Ibuprofen	$11.11	$10.65	4.3%
Lipitor	$369.37	$468.60	21.2%

Housing

Item	Pascoag	National avg.	Difference
Home Price	$236,000.00	$184,700.00	27.8%
Avg. Mortgage Payment	$2,379.56	$2,346.69	1.4%
Apartment Rent	$875.00	$949.00	7.8%

Transportation

Item	Pascoag	National avg.	Difference
Gasoline	$3.38	$3.46	2.5%
Tire Balancing	$48.20	$59.92	19.6%

Utilities

Item	Pascoag	National avg.	Difference
All Electricity	$230.62	$193.99	18.9%
Phone	$195.18	$192.25	1.5%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Clayville, RI	81	109	8.7%
North Grosvenor Dale, CT	1,180	103	2.6%
Wauregan, CT	1,486	105	5.2%
Danielson, CT	3,996	105	5.4%
East Brooklyn, CT	2,103	106	6.4%
Pascoag, RI	4,911	111	11.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Demarest, NJ	4,911	198	97.7%
Northvale, NJ	4,911	148	48.1%
Falmouth, VA	4,911	129	29.5%
Eagar, AZ	4,910	102	2.0%
Silver Springs, NV	4,910	98	1.5%
Pascoag, RI	4,911	111	11.2%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Pascoag, RI