Rhode Island cost of living
Moving to a new state can be exciting and a bit challenging. While a fresh start offers new opportunities and experiences, it's important to consider the practical side of things, too. If you’re planning a move to Rhode Island, read on to learn about what to expect in terms of cost of living.
The median rent in Rhode Island is $2,300.24, versus the national median rent of $1,529.01.
Jump to insightResidents in Rhode Island spend $255.86 weekly on food at home and $101.37 on food out.
Jump to insightAs of publishing, the average price per gallon of regular gas is $3.43 in Rhode Island.
Jump to insightRecent data shows that employees in Rhode Island pay $1,903 annually for employee-sponsored health insurance coverage.
Jump to insightHousing costs in Rhode Island
According to recent data from Zillow, the median rent in Rhode Island is $2,300.24, while the national median rent is $1,529.01.
Data from the U.S. Census Bureau shows rent prices in Rhode Island broken down by home size. As of publishing, one-bedroom apartments in Rhode Island had a median cost of $913 per month, and the two-bedroom median cost was $1,331 per month. Three- and four-bedroom homes had median costs of $1,664 and $1,533, respectively.
As of publishing, the median home price in Rhode Island is $465,000, according to Redfin. The U.S. median home price is $436,000.
The median home price in the Providence metro area was $470,700 in the first quarter of 2024, according to the National Association of Realtors (NAR).
Rhode Island ranks No. 13 for highest effective property tax rates in the nation, according to the most recent Tax Foundation data, at 1.40%.
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Food costs in Rhode Island
According to recent census data, the average spent on food to prepare at home each week in Rhode Island is $255.86, compared with the U.S. average of $270.21 at the time. Rhode Island residents spend an average of $101.37 weekly on food prepared outside the home, compared with the U.S. average of $109.21.
Transportation costs in Rhode Island
According to recent data from AAA, the average price per gallon of regular gas in Rhode Island is $3.43, compared with the U.S. average of $3.46.
The most recent National Association of Insurance Commissioners data shows that the average auto insurance premium (liability, collision and comprehensive coverage combined) in Rhode Island is $1,588.47, versus the national average of $1,189.50.
Public transportation costs
Public transit opportunities depend on where you live in Rhode Island. Providence ranked 18th in our 2024 ranking of cities with the best public transit. The average fare was $1.50 in 2022.
Health care costs in Rhode Island
The most recent KFF data shows that, on average, employer-sponsored health insurance cost Rhode Island employees $1,903 annually, with employers covering the remaining $6,312 of the $8,215 total cost.
Nationwide, the average employee contribution was $1,637 out of a total premium of $7,590.
Utility costs in Rhode Island
According to the most recent data from the Energy Information Administration, the average monthly electric bill in Rhode Island is $136.74, versus $135.25 countrywide.
Recent EIA data also shows that natural gas in Rhode Island costs $18.49 per thousand cubic feet, compared with $13.25 nationally.
FAQ
How does the cost of living in Rhode Island compare with the national average?
Overall, Rhode Island has a higher cost of living than the national average, according to our 2023 survey, but the state is less expensive than several of its New England neighbors.
Is Rhode Island safe?
Our 2023 analysis actually found that the Ocean State was the seventh-safest in the nation.
How much does it cost to move across the country?
If you’re moving more than 1,000 miles, it’s likely to cost you several thousand dollars to hire professional movers. Fortunately, there are ways to make your cross-country move cheaper.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Zillow, "Housing Data." Accessed May 14, 2024.
- Redfin, "Redfin Data Center." Accessed May 14, 2024.
- Tax Foundation, "Where Do People Pay the Most in Property Taxes?" Accessed May 14, 2024.
- United States Census Bureau, "Week 63 Household Pulse Survey: October 18 - October 30." Accessed May 14, 2024.
- AAA Gas Prices, "State Gas Price Averages." Accessed June 14, 2024.
- National Association of Insurance Commissioners, "2020/2021 Auto Insurance Database Report." Accessed May 14, 2024.
- KFF, "Average Annual Single Premium per Enrolled Employee For Employer-Based Health Insurance." Accessed May 14, 2024.
- U.S. Energy Information Administration, "2022 Average Monthly Bill- Residential." Accessed May 14, 2024.
