Is Providence’s cost of living higher than the national average?

Providence’s cost of living is consistently calculated to be higher than the national average.

Estimates vary depending on the methodology used. Apartments.com places Providence’s cost of living at 10% above the national average based on the cost of housing, groceries, utilities, transportation, healthcare and goods and services. However, the Economic Research Institute places it at 19% based on the price of food, transportation, housing and medical care.

Both sources found the price of housing and utilities in Providence to be significantly higher than the national average.

In 2024, Forbes found Rhode Island had the 13th highest cost of living out of all states in the country based on the combined cost of housing, healthcare, taxes, food and transportation. In the same report, Rhode Island ranked 22nd in terms of disposable income.