Cost of Living in Providence, RI
Population: 190,214 • 2026 Data
$66,772
Median Household Income
-14% vs national
$1,333
Median Monthly Rent
-1% vs national
$322,800
Median Home Value
-5% vs national
7.4%
Unemployment Rate
Housing in Providence
The median home value in Providence, RI is $322,800. Monthly rent for a typical unit averages $1,333, while total monthly housing costs (including utilities and insurance) average $1,467.
Rent-to-income ratio: 24.0%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Providence, RI is $66,772. The unemployment rate stands at 7.4%, with a labor force of 100,702 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.