Rhode Island, the smallest state in the United States, is known for its picturesque coastlines, historic towns, and vibrant cultural scene. Landmarks such as Newport's mansions, the Roger Williams Park Zoo, and the WaterFire art installation in Providence highlight the state's attractions. The state's economy is diverse, with significant contributions from sectors such as healthcare, education, and tourism. Rhode Island's tax structure includes relatively high income and property taxes, which can impact the overall affordability for residents. Despite recent inflation and rising food costs, Rhode Island remains one of the more affordable states in the New England region, especially in its smaller towns and rural areas. The combination of a diverse economy and manageable living costs makes Rhode Island an attractive place for those seeking affordability and quality of life.
Affordable living in Rhode Island can often be found in smaller towns and suburban areas where housing costs and everyday expenses are lower. These regions provide a more manageable cost of living, which is essential for maintaining financial stability. Affordability is a key factor in livability, as it allows residents to enjoy a comfortable standard of living without undue financial strain. Factors contributing to the cheapest places to live in Rhode Island include lower housing demand in less populated areas, supportive local economic policies, and efficient public services. Utilizing C2ER's cost of living data helps to identify these affordable regions, ensuring that potential residents can make informed decisions. In a state known for its scenic beauty and cultural richness, finding affordable living options enhances the overall living experience.
Rank | Location | Population | COL Index | Med. Home Value | Med. Household Inc. |
1 | Central Falls | 19,437 | 104 | $176,300 | $34,689 |
2 | Woonsocket | 41,616 | 107 | $191,500 | $44,310 |
3 | Pawtucket | 71,821 | 109 | $213,700 | $52,902 |
4 | Providence | 179,472 | 111 | $225,200 | $77,826 |
5 | Providence | 179,472 | 111 | $225,200 | $92,475 |
6 | Providence | 179,472 | 111 | $225,200 | $52,291 |
7 | Providence | 179,472 | 111 | $225,200 | $68,504 |
8 | Providence | 179,472 | 111 | $225,200 | $45,408 |
9 | Providence | 179,472 | 111 | $225,200 | $51,724 |
10 | Providence | 179,472 | 111 | $225,200 | $59,559 |
11 | Providence | 179,472 | 111 | $225,200 | $57,834 |
12 | Providence | 179,472 | 111 | $225,200 | $128,378 |
13 | Providence | 179,472 | 111 | $225,200 | $45,261 |
14 | Providence | 179,472 | 111 | $225,200 | $n/a |
15 | Providence | 179,472 | 111 | $225,200 | $49,439 |
16 | Providence | 179,472 | 111 | $225,200 | $42,194 |
17 | Providence | 179,472 | 111 | $225,200 | $64,063 |
18 | Providence | 179,472 | 111 | $225,200 | $27,440 |
19 | Providence | 179,472 | 111 | $225,200 | $43,450 |
20 | Providence | 179,472 | 111 | $225,200 | $38,131 |
21 | Providence | 179,472 | 111 | $225,200 | $49,065 |
22 | Providence | 179,472 | 111 | $225,200 | $76,286 |
23 | Providence | 179,472 | 111 | $225,200 | $63,560 |
24 | Providence | 179,472 | 111 | $225,200 | $49,563 |
25 | Providence | 179,472 | 111 | $225,200 | $43,021 |
26 | Providence | 179,472 | 111 | $225,200 | $49,838 |
27 | Providence | 179,472 | 111 | $225,200 | $89,275 |
28 | Providence | 179,472 | 111 | $225,200 | $43,068 |
29 | East Providence | 47,442 | 112 | $233,100 | $63,158 |
30 | Warwick | 81,043 | 114 | $238,300 | $73,285 |
31 | Valley Falls | 11,548 | 115 | $265,800 | $88,927 |
32 | Cranston | 81,252 | 116 | $257,400 | $74,425 |
33 | Tiverton | 7,996 | 116 | $266,600 | $75,887 |
34 | Cumberland Hill | 8,515 | 117 | $284,400 | $94,773 |
35 | Wakefield-Peacedale | 8,904 | 120 | $298,800 | $66,711 |
36 | Westerly | 17,842 | 121 | $307,700 | $75,200 |
37 | Greenville | 9,114 | 124 | $317,800 | $90,048 |
38 | Newport East | 11,289 | 129 | $356,000 | $75,036 |
39 | Kingston | 6,407 | 133 | $372,100 | $112,344 |
40 | Newport | 24,697 | 145 | $495,000 | $68,201 |
To formulate the list of the cheapest places to live in Rhode Island, AreaVibes utilized comprehensive data from the Council for Community and Economic Research (C2ER) cost of living index. The report is released annually and offers a detailed comparison of living expenses across various urban areas. The data is meticulously gathered by over 300 independent researchers, ensuring a high level of accuracy and reliability. The C2ER index encompasses more than 60 goods and services, categorized into six essential areas that significantly impact the cost of living. These categories and their respective weightings in the index are as follows: goods and services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%), and utilities (10%).
The map above is a great way to help you discover the most affordable states across the U.S. By highlighting states with the lowest cost of living, this map provides an in-depth look at where you can get the most value for your money. By visually representing this data, the map allows users to easily compare different regions and make informed decisions about potential relocations or investments. Additionally, it provides valuable insights into the economic conditions and lifestyle factors that influence these cost of living statistics. Whether you're planning a move, considering a new job, or simply curious about the economic landscape, this map is a useful resource for understanding and navigating the financial implications of living in different states.