Cost of living in Providence: rent, homes and salary
The cost of living in Providence sits 1.8% above the US average. For 2024, the regional price parity (RPP) published by BEA put the Providence, RI metro area at 101.8, with the US at 100, and housing on its own at 103.9.
- The general level of prices
- 101.8US = 100, BEA 2024
- Price level for housing
- 103.9. For rents, US = 100.
Cost of living index for Providence
A regional price parity holds the US average at 100, then measures the cost of the same goods and services in one place against it. Providence lies inside the Providence-Warwick, RI-MA metro area, a region that BEA prices as one. Utilities sit furthest from the US average, at 148.8, or 48.8% above the US.
| Price level, US = 100 | Providence, RI metro | Rhode Island | Metro against the US |
|---|---|---|---|
| All items | 101.8 | 102.3 | +1.8% |
| Goods | 97.1 | 97.2 | −2.9% |
| Housing (rents) | 103.9 | 105.6 | +3.9% |
| Utilities | 148.8 | 146.7 | +48.8% |
| Other services | 102.3 | 102.8 | +2.3% |
U.S. Bureau of Economic Analysis (BEA), 2024: regional price parities for each metro area and state. Regional price parities
Providence rent
Providence's typical asking rent, taken from the Zillow Observed Rent Index (ZORI), is $2,190 a month, +4.9% on a year. That index covers rent on homes listed now. In the US it is $1,932. Every renting household, not only new leases, is counted in the Census median gross rent of $1,429. One year of asking rent equals 43% of the median household income.
| Rent | Providence | United States |
|---|---|---|
| Typical asking rent, Zillow ZORI | $2,190 | $1,932 |
| Asking rent, 12-month change | +4.9% | |
| Median gross rent, Census ACS 2024 | $1,429 | $1,487 |
| Asking rent over a year, as a share of median income | 43% | 28% |
One-year estimates from Census Bureau American Community Survey 2024; Zillow Observed Rent Index.
Providence home prices
In September 2026 the Zillow Home Value Index (ZHVI) put a typical home in Providence at $431,740. It measures what a typical home is worth, one near the middle of the market. That value is +2.3% on a year, and the US figure is $366,157. A home costs 7.0 years of median household income, compared with 4.5 in the US.
| Home prices | Providence | United States |
|---|---|---|
| Typical home value, September 2026 | $431,740 | $366,157 |
| 12-month change | +2.3% | +1.2% |
| 10-year change | +123.7% | +77.4% |
| Price to income (years of median income) | 7.0 | 4.5 |
| Price to rent (years of asking rent) | 16.4 | 15.8 |
Days on market and the forecast, with a price chart going back to 2000: Providence housing market.
The salary you need to live in Providence
Where you live and what you earn are the two questions that give the Providence salary matching your present purchasing power.
- Moving away from
- Salary
Every city side by side, plus the method: comparison of cost of living by city.
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Providence cost of living compared with other cities
| City | The general level of prices | Housing | Rent, typical | Home value, typical |
|---|---|---|---|---|
| Providence | 101.8 | 103.9 | $2,190 | $431,740 |
| New York City | 112.6 | 148.6 | $4,089 | $825,854 |
| Los Angeles | 113.6 | 170.4 | $2,772 | $927,891 |
| Chicago | 103.6 | 112.0 | $2,311 | $334,108 |
| Houston | 98.6 | 104.5 | $1,544 | $259,465 |
| Phoenix | 103.3 | 121.2 | $1,571 | $404,067 |
| Philadelphia | 102.6 | 113.1 | $1,757 | $231,584 |
| San Antonio | 94.7 | 94.6 | $1,381 | $244,623 |
| San Diego | 111.9 | 179.3 | $3,004 | $980,490 |
Price levels: BEA regional price parities 2024, with US = 100. Rent figures: Zillow ZORI. Home values: Zillow ZHVI, September 2026.
All cities ranked: city cost of living comparison. All states: cost of living for each state.