The cost of living is 9% lower than the state average and the cost of housing is 17% lower than the national average. Woonsocket is the 6th largest city in Rhode Island. The cost of living in this vibrant community is 9% lower than the state average.
Is Rhode Island expensive to live in?
Rhode Island has a cost of living index of 117.2, making it the ninth most expensive in the United States. Housing costs are 21% higher than the national average, with a typical single-family dwelling costing $372,809. The average rent for a two-bedroom apartment in Rhode Island is $1,043 a month.
Is it affordable to live in Rhode Island?
An amount below 100 means Rhode Island is cheaper than the US average. A cost of living index above 100 means Rhode Island, Rhode Island is more expensive.
Rhode Island cost of living is 110.6.
| COST OF LIVING | Rhode Island | United States |
|---|---|---|
| Overall | 110.6 | 100 |
| Grocery | 106.5 | 100 |
| Health | 81.9 | 100 |
| Housing | 123.4 | 100 |
How much does it cost to live comfortably in Rhode Island?
Living Wage Calculation for Rhode Island
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $17.80 | $38.11 |
| Poverty Wage | $6.19 | $12.74 |
| Minimum Wage | $12.25 | $12.25 |
Is it cheaper to live in Massachusetts or Rhode Island?
Massachusetts is 7.9% more expensive than Rhode Island.
What state is the least expensive to live in?
Mississippi
1. Mississippi. Coming in as the cheapest state to live in in the United States is Mississippi with a cost of living index score of 83.3. It also has the lowest average housing costs in the nation at 33.7% below the national average.
What is Rhode Island’s minimum wage?
12.25
State Minimum Wage Rate for Rhode Island (STTMINWGRI) Download
| 2022: | 12.25 |
|---|---|
| 2020: | 10.50 |
| 2019: | 10.50 |
| 2018: | 10.10 |
| View All |
Are Rhode Island taxes high?
Rhode Island
Rhode Island is one of several New England states to rank among those with the highest effective tax burden. The high tax burden is driven in part by the state’s 7.0% sales tax — the second highest sales tax rate of among states. Property taxes are also high in Rhode Island.
What is a good salary in Rhode Island?
Above Average Salary in Rhode Island
| Annual Salary | Weekly Pay | |
|---|---|---|
| Top Earners | $80,305 | $1,544 |
| 75th Percentile | $65,247 | $1,254 |
| Average | $61,327 | $1,179 |
| 25th Percentile | $32,122 | $617 |
Is it safe to live in Rhode Island?
Like the rest of New England, Rhode Island’s crime rates are lower than the national average. Among all 50 states, Rhode Island ranks seventh-lowest for violent crime and sixth-lowest for property crime.
What is the average wage in Rhode Island?
Average Salary in Rhode Island
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $100,381 | $48 |
| 75th Percentile | $75,286 | $36 |
| Average | $75,603 | $36 |
| 25th Percentile | $49,688 | $24 |
Is Rhode Island a good state to move to?
The Ocean State low crime rate, top quality education, affordable housing, and natural beauty makes it one of the best places to live in the country. If you love festivals and events, great tasty food, sports, and an eco-friendly environment, moving to Rhode Island is perfect for you.
How much does food cost in Rhode Island?
Rhode Island Food Costs
In Rhode Island, a single adult spends an average of $3,414 on food annually, and a family of four spends $9,859 on average.
What is the best area to live in Rhode Island?
The 20 Best Places to Live in Rhode Island
- Fox Point.
- Portsmouth.
- Mount Hope.
- Cumberland Hill.
- Downtown.
- Newport.
- Reservoir.
- Cranston. Niche lists Cranston as one of the top 20 places to live in Rhode Island.
What are taxes in Rhode Island?
Rhode Island has a graduated individual income tax, with rates ranging from 3.75 percent to 5.99 percent. Rhode Island also has a 7.00 percent corporate income tax rate. Rhode Island has a 7.00 percent state sales tax rate and does not levy local sales taxes.
Is Providence RI safe?
Rhode Island’s property crime rate is 27% lower than the average crime rate in the United States. Providence has the highest property crime rate in Rhode Island (30.1 incidents per 1,000 people).
Where can I live for $500 a month in USA?
Without further ado – and in no particular order – here’s what $500 per month can get you in ten affordable U.S. cities:
- Greenville, OH. Listing: Wayne Crossing.
- Wichita, KS. Listing: Eagle Creek.
- Lawton, OK. Listing: Sheridan Square Apartments.
- Amarillo, TX.
- Indianapolis, IN.
- Searcy, AR.
- Shreveport, LA.
- Jackson, MS.
What is the best state to live in financially?
The five best states for your personal finances in 2022 are (No. 1 being best): Tennessee.
- New Jersey.
- Hawaii.
- Connecticut.
- Alaska.
- Illinois.
What is the cheapest and safest state to live in?
Here are the 10 most affordable states in the U.S.:
- Indiana. Average cost of living index: 90.57.
- Michigan. Average cost of living index: 90.40.
- Missouri. Average cost of living index: 89.75.
- Tennessee. Average cost of living index: 89.49.
- Georgia. Average cost of living index: 89.30.
- Arkansas.
- Alabama.
- Oklahoma.
What is the poorest city in Rhode Island?
Central Falls, Rhode Island
Central Falls is the poorest town in Rhode Island. The $28,901 median annual household income in Central Falls is less than half that of the Newport East area, the state’s next poorest town, where the typical household earns $59,680 a year.
How much tax is deducted from a paycheck in RI?
These make up FICA (Federal Insurance Contributions Act) taxes. Your employer will withhold 6.2% of your wages in Social Security tax and 1.45% in Medicare tax.
Income Tax Brackets.
| All Filers | |
|---|---|
| Rhode Island Taxable Income | Rate |
| $66,200 – $150,550 | 4.75% |
| $150,550+ | 5.99% |