City profile
Providence, RI cost of living
RI · BLS RPP 103.9
Overall RPP
103.9
US = 100
Housing RPP
98.8
Housing component
Goods RPP
101.2
Goods component
2-BR Rent (HUD)
$1,693/mo
FY2024 FMR
Where Providence, RI sits in the verified metro set
RPP rank
#20 of 67
+3.9 vs U.S. average
Vs median metro
+5.5
median RPP 98.4
2-BR rent rank
#26 of 67
+87/mo vs median verified metro
RPP ranks use only verified ReloMath metro records. Sources: BEA Regional Price Parities by MSA, 2022 (Table 4); HUD FY2024 Fair Market Rents (2-BR); reviewed June 2026. These are official published averages, not neighborhood-level prices.
Who’s moving in and out of Providence, RI
IRS tax-return migration · 2021-2022Cost of living is only half the relocation question. The other half is which way people are actually voting with their feet, straight from IRS tax-return migration for the Providence, RI metro.
Moved in
60,913
people · 38,508 households
Moved out
63,636
people · 40,004 households
Net
−2,723
net loss of residents
Net migration rank
#38 of 65
among IRS-covered ReloMath metros
Vs median net flow
-2,619
median -104 people
Largest flow share
8% in / 5% out
top named county shares
Where new residents came from
- Plymouth County, MA 5,167
- Norfolk County, MA 4,544
- Suffolk County, MA 3,037
- Middlesex County, MA 2,249
- Worcester County, MA 1,635
Where residents moved to
- Plymouth County, MA 3,193
- Norfolk County, MA 2,994
- Suffolk County, MA 1,615
- Worcester County, MA 1,523
- Middlesex County, MA 1,477
Counts are IRS tax filers (returns ≈ households, individuals ≈ exemptions) who changed address between 2021-2022. Flows too small for IRS to disclose are grouped and excluded from the named lists. Source: IRS SOI county-to-county migration data ↗, mapped to metros via the U.S. Census CBSA delineation.
What salary do you need in Providence, RI?
Equivalent salary to maintain the same purchasing power as in a US-average city (RPP 100).
| In US-average city | You need in Providence, RI | Formula |
|---|---|---|
| $50,000 | $51,950 | $50,000 x (103.9/100) |
| $75,000 | $77,925 | $75,000 x (103.9/100) |
| $100,000 | $103,900 | $100,000 x (103.9/100) |
| $125,000 | $129,875 | $125,000 x (103.9/100) |
| $150,000 | $155,850 | $150,000 x (103.9/100) |
| $200,000 | $207,800 | $200,000 x (103.9/100) |
This tool provides estimates only. Equivalent-salary figures are derived from BLS Regional Price Parities (RPP) and HUD Fair Market Rents — they are averages, not guarantees. Actual cost of living varies by neighborhood, lifestyle, and individual circumstances. Not financial advice.
State income tax note
Rhode Island income tax 3.75%-5.99%.
Frequently asked questions
- What is the cost of living in Providence, RI?
- Providence, RI has a BLS Regional Price Parity of 103.9 (US average = 100). It is 3.9% more expensive than the national average.
- What salary do I need to live in Providence, RI?
- If you earn $100,000 in a US-average city (RPP 100), you would need approximately $103,900 in Providence, RI to maintain the same purchasing power.
- What is the average rent in Providence, RI?
- The HUD Fair Market Rent for a 2-bedroom in Providence, RI is approximately $1,693 per month as of FY2024.
- Are people moving to or away from Providence, RI?
- Based on IRS tax-return migration data for 2021-2022, about 60,913 people moved into the Providence, RI metro and 63,636 moved out — a net loss of roughly 2,723 residents. The largest single source of new residents was Plymouth County, MA.
Curated nearby & similar cities
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