Cheapest Places to Live in Rhode Island

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.

Central Falls Population: 19,437 7% cheaper than Rhode Island average

Med. Home Value: $176,300 Med. Rent: $884 Med. Household Inc.: $34,689

With a cost of living index that is 7% cheaper than the state average, Central Falls is the cheapest place to live in Rhode Island. This area offers residents a remarkable blend of relatively low housing costs, budget-friendly grocery prices, affordable utilities, and economical health care services, making it an attractive destination for those seeking to stretch their dollars further. Whether you're a young professional, a growing family, or someone looking to enjoy a more relaxed pace of life, Central Falls provides an inviting and cost-effective environment to call home.

Woonsocket Population: 41,616 5% cheaper than Rhode Island average

Med. Home Value: $191,500 Med. Rent: $921 Med. Household Inc.: $44,310

The second most affordable city in Rhode Island is Woonsocket and stands out for its cost-effective lifestyle. With an overall cost of living that is 5% cheaper than the Rhode Island average, overall goods and services, housing, utilities, transportation and health care costs fall within a reasonable range. Median household income levels are steady and come in at , which helps to increase the purchasing power of the local residents.

Pawtucket Population: 71,821 3% cheaper than Rhode Island average

Med. Home Value: $213,700 Med. Rent: $933 Med. Household Inc.: $52,902

Pawtucket lands in the #3 spot for the cheapest cities to live in Rhode Island, with a cost of living that is 3% cheaper than the state average. With home prices averaging and rental rates coming in around , it helps that household income levels average about , which assists with paying the mortgage or your monthly rent. Its robust public school system and accessible health care further enhance its appeal, making it a great place to settle down. The strong community spirit and ample recreational opportunities add to its charm.

Providence Population: 179,472 1% cheaper than Rhode Island average

Med. Home Value: $225,200 Med. Rent: $1,015 Med. Household Inc.: $49,065

The cost of everyday grocery items, goods & services and of course housing, can have a significant impact on the overall cost of living in any area. Providence offers a picturesque and affordable living environment, with a cost of living that is 1% cheaper than the state average. Everyday items like ground beef , eggs , coffee and pizza are all fairly reasonable compared to most other cities, which helps reduce those grocery bills. Home prices are also fairly affordable (compared to the state average), coming in at around .

East Providence Population: 47,442 equal to Rhode Island average

Med. Home Value: $233,100 Med. Rent: $988 Med. Household Inc.: $63,158

For those wanting to live well on a budget, East Providence is ideal, with a cost of living that is equal to the state average. Reasonable housing prices (compared to the Rhode Island average) of and rental prices of are paired with economical goods and services and a range of free or low-cost recreational activities. The city's proactive economic development initiatives also ensure a steady stream of job opportunities, making it a smart choice for those prioritizing financial ease.

Warwick Population: 81,043 2% more expensive than Rhode Island average

Med. Home Value: $238,300 Med. Rent: $1,168 Med. Household Inc.: $73,285

Warwick comes in at #6 on our list of the cheapest cities in Rhode Island and is a haven for those seeking affordability without sacrificing convenience. The city is known for its discount shopping centers and budget-friendly dining options and has a cost of living that is 2% more expensive than Rhode Island. The city's local markets provide fresh produce and other groceries at reduced prices, while parks and community centers offer free entertainment and leisure. This city is perfect for enjoying a high quality of life at a low cost.

Valley Falls Population: 11,548 3% more expensive than Rhode Island average

Med. Home Value: $265,800 Med. Rent: $910 Med. Household Inc.: $88,927

With its cost-effective lifestyle, Valley Falls is an attractive destination for those looking to live affordably. The city boasts suitable housing costs, affordable healthcare, and a variety of budget-friendly dining options. The community is welcoming and vibrant, providing residents with a rich social life at a fraction of the cost. Median income levels come in at , which provides financial stability, purchasing power and increases the quality of life in the city.

Cranston Population: 81,252 3% more expensive than Rhode Island average

Med. Home Value: $257,400 Med. Rent: $1,107 Med. Household Inc.: $74,425

A lower cost of living allows individuals to manage their expenses more effectively, reducing the risk of financial stress and debt. When essential costs such as housing, food, transportation, and healthcare are more affordable, people can achieve greater financial stability and resilience. Cranston fits that mold and has a cost of living that is 3% more expensive than Rhode Island.

Tiverton Population: 7,996 4% more expensive than Rhode Island average

Med. Home Value: $266,600 Med. Rent: $1,024 Med. Household Inc.: $75,887

Lower living costs can lead to a higher quality of life by making it easier for people to afford comfortable housing, nutritious food, and access to healthcare. It can also provide opportunities for better education, recreational activities, and community engagement, contributing to overall well-being. Tiverton is one of the most affordable cities in Rhode Island, and has a cost of living that is 4% more expensive than the state average.

Cumberland Hill Population: 8,515 5% more expensive than Rhode Island average

Med. Home Value: $284,400 Med. Rent: $958 Med. Household Inc.: $94,773

With a cost of living that is 5% more expensive than Rhode Island, Cumberland Hill comes in at #10 on our list of the cheapest places to live in Rhode Island. Financial stress is a significant factor affecting mental and physical health. By lowering the cost of living, individuals can experience reduced anxiety related to meeting monthly expenses, thereby improving overall health and well-being. The ability to afford basic necessities without constant worry contributes to a more balanced and fulfilling life.

Full list of the cheapest places in Rhode Island

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	$49,065
5	East Providence	47,442	112	$233,100	$63,158
6	Warwick	81,043	114	$238,300	$73,285
7	Valley Falls	11,548	115	$265,800	$88,927
8	Cranston	81,252	116	$257,400	$74,425
9	Tiverton	7,996	116	$266,600	$75,887
10	Cumberland Hill	8,515	117	$284,400	$94,773
11	Wakefield-Peacedale	8,904	120	$298,800	$66,711
12	Westerly	17,842	121	$307,700	$75,200
13	Greenville	9,114	124	$317,800	$90,048
14	Newport East	11,289	129	$356,000	$75,036
15	Kingston	6,407	133	$372,100	$112,344
16	Newport	24,697	145	$495,000	$68,201

Methodology

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%).

Map of Cost of Living by State

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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.