Cost of Living in Providence, RI [2025]

Although Rhode Island is the smallest state in the U.S., it's big on history and charm. The state capital, Providence, exemplifies this feature and is often considered an under-appreciated gem of the East Coast, offering residents countless options in terms of entertainment, art, and food.

Living in the capital city means a central location within the state a quick 30-minute drive from just about anything. Explore some of the city's unbeatable food trucks, experience some of the deep-rooted histories, or even take a pleasant long stroll along the sandy shores.

Whether you’re moving to Providence to take advantage of the scenic views, the affordable cost of living, the foodie scene, or some combination, you’ll want to get a good idea of what your costs will look like. So let’s look at the cost of living in Providence to understand better how much you need to live there.

Cost of Living in Providence, RI

What Is the Cost of Living in Providence, RI?

If you’re considering a move to Providence, you'll find it's become an increasingly popular destination, known for its rich history, diverse culture, and thriving arts scene. The cost of living in Providence is 8.8% higher than the rest of the U.S., but cheaper than many parts of other cities in the Northeast. The cost of living accounts for essentials like housing, groceries, utilities, and transportation, making it a manageable option for those seeking a vibrant urban lifestyle with New England charm. Here's what the different categories look like for your cost of living in Providence, RI:

Where Is the Cost of Living Highest in Providence?

If you're moving to Providence, you'll need to figure out how housing will impact your budget. If you want to live in the more expensive, trendy parts of Providence, look to College Hill. A one-bedroom in College Hill ranges from $1,650 to $2,400 with an average rent of $2,038. You'll spend more if you want upscale, modern amenities. You can compare the data to the rest of the overall median rent in Providence, which is $1,390 a month.

Where Is the Cost of Living Lowest in Providence?

If you want to find cheap neighborhoods in Providence, start apartment hunting in Washington Park. This neighborhood is more affordable than most of Providence and you'll spend between $800 and $850 with an average rent of $825 for a one-bedroom apartment. It's always wise to look into the crime index and safety of any neighborhood you rent in, especially if they're known as the cheapest place to live in your area.

How Much Is Rent in Providence?

After looking over apartment data in January, 2025, we found the median rent for a one-bedroom apartment runs $1,075 a month. Here is some of the other median rental data to look over for your apartment search.

How Much Is a 1-Bedroom Apartment in Providence?

If you're looking for a one-bedroom apartment in Providence, you'll spend an average of $1,090 a month. That number will also fluctuate if you live in a trendy neighborhood with the best modern amenities. We also looked over the apartment data in Providence and found rents are on the decline month over month.

How Much Is a 2-Bedroom Apartment in Providence?

You can team up with a roommate to rent a two-bedroom apartment in Providence at $1,440 a month. Rents are also down for a two-bedroom, making the cost of living more affordable for renters. You'll also save money on shared costs, like utilities.

How Much is Housing in Providence?

If you're looking to eventually buy a home in Providence, you'll see prices that are lower than most of New England. According to Best Places, the median home cost in Providence is an affordable $350,800, compared to Rhode Island's median home cost of $401,200. By comparison, Portland, Maine's median home price is $451,100 and Concord, New Hampshire's median home price is $360,000.

What Salary Do I Need to Live in Providence, RI?

The recommended salary you need to live in Providence will depend on your lifestyle, preferences, and any outstanding student loans or other debts. Currently, the living wage in Providence is $23.23 per hour, which is the basic wage needed to pay for essentials like housing, food, and necessities. That figure does not account for any extras, like recreation, travel, savings, or debt repayments. Make sure you're factoring in all of your costs before following the basic living wage.

To make sure you can live comfortably in Providence, we recommend the 30% rule for rent. This rule says you shouldn’t spend more than one-third, or 30%, of your gross income on rent. If you rent a one-bedroom apartment in Providence with an average rent price of $1,090, you need to earn at least $43,600 a year, $3,633.33 per month, or about $21.10 an hour.

We also checked the data on Providence's salary compared to the rest of the country. The median household income in Providence is currently $66,772 per year or roughly $32.10 per hour. The median household income in the United States is higher at $78,538, but the cost of living is generally lower in Providence.

How Much Is Transportation In Providence, RI?

Providence’s official public transportation operator is the Rhode Island Public Transit Authority (RIPTA). Bus fares run $2 per one-way ride or $6 for a one-day unlimited pass throughout the state.

While the public transportation in Providence is affordable and runs throughout the year, the city is also incredibly car-friendly, unlike many other major East Coast cities like Boston or New York. So if you plan to make the most out of living in Providence, you’ll probably want to have a car to get around and see all of the sights.

If you're a single adult without children, you'll spend about $9,085 on transportation in Providence annually. A family of two working adults and one child will spend $13,244 for transportation annually.

How Much Is Food Providence?

Providence is a foodie heaven and locals have access to countless food trucks and other dining options readily available throughout the city. The city is known for a handful of authentic foods to add to your must-eat list, including Rhode Island clam chowder, johnnycakes, Rhode Island-style calamari, stuffies, and clam cakes.

According to data from Numbeo, eating out at an inexpensive restaurant in Providence costs $20 for a meal on average, while a three-course dinner for two people at a mid-range restaurant runs $80 without alcohol or dessert.

Single adults without children should expect to pay at least $4,698 on food per year. However, if you have a family of two working adults and one child, you'll spend around $10,721 per year for food.

How Much is Healthcare in Providence, RI?

Healthcare is another significant line item when planning your budget in Providence, RI. According to MIT's Living Wage Calculator, a single adult with no children can expect to spend approximately $3,606 on healthcare every year . For a family of two working adults and two children, you can expect to spend $9,591 every year.

These figures will fluctuate depending on your current health, age, and insurance coverage. It's important to research different healthcare options and plans in the Providence area. You should also weigh your deductibles, co-pays, and available network coverage and alternative options available that could reduce your costs.

How Much Are Utilities in Providence, RI?

You'll need to account for higher utilities year-round to stay comfortable and combat winter's freezing weather. Providence’s basic utilities include electricity, heating, cooling, water, and garbage, running $148.94 for a 915-sq. ft. apartment. You'll spend more during a cold, snowy winter.

Adding on a cell phone plan and Internet with 60 Mbps or more with unlimited data, cable/ADSL will cost you an extra $101.05 Plan to spend a total of $249.99 each month.

Before moving, you should get a better idea of what to expect and budget accordingly by getting an idea of how much utilities will cost in an apartment.

How Much Is Child Care in Providence?

Childcare is pricey in Providence, but is somewhat cheaper than other east coast cities. If you have one child, you need to spend $13,472 for the annual cost of one child at daycare. For two children, you’ll spend around $25,563.

Your daycare costs can also fluctuate depending on your neighborhood. If you live in a trendy area with tons of bars, public transportation, and amenities, you'll spend more on child care. You may be able to lower your costs with a nanny share or creative scheduling with your co-parent.

How Much is Fitness & Entertainment In Providence, RI?

Fitness and entertainment should also be included in your budget. One working adult in Providence will spend around $3,013 annually or about $251 monthly on recreation and entertainment. A family of two working adults and one child will spend $6,675 annually or about $556.

If you value working out, you'll need to add an average of $53 a month for a gym membership. Or you can take advantage of nearby hiking, cycling, or look for an apartment complex with an included fitness center.

For entertainment, you can look at the cost of a movie ticket to get an idea of the cost of living. You'll spend $14.75 at the cinema, which doesn't include snacks and drinks.

Other Expenses to Consider in Providence, RI

Providence has a lot to offer for a charming little city but can come with hidden expenses if you don't plan carefully. Here’s a look at some of the additional costs to keep in mind when settling in Providence:

• Income Tax Rate: Rhode Island has a tiered income tax system that ranges from 3.75% to 5.99%, depending on your income level. Newcomers should plan their budgets based on where they fall within these tax brackets.
• Sales Tax Newcomers should know state imposes a 7% sales tax on most goods and services, but some municipalities, including Providence, may add their own local taxes, which can slightly increase the total rate.

Providence's Job Market

The job market in Providence, Rhode Island offers several opportunities across key industries like healthcare, education, finance, and technology. Some of the major employers attracting locals include Brown University, Lifespan Health System, and CVS Health that could be good options for someone pursuing research, healthcare, and corporate services. Although a smaller sector, creative professionals and those in tourism also settle in Providence looking for opportunities in hospitality and the arts.

Find Your Next Apartment in Providence

Take all of our data to make the best decision for you about moving to Providence and stick to your budget. We can also help you find the best apartment for you with our quiz and start checking out thousands of available apartments. Or get started browsing some of our featured apartments here.

FAQs: Cost of Living in Providence

How expensive is an apartment in Providence, RI?

The neighborhood you live in will depend on how expensive your apartment in Providence, RI is. However, the current overall median rent in Providence, RI is $1,390. A one-bedroom apartment costs $1,075 and two-bedroom apartment in Rhode Island runs $1,463 a month.

What is the cheapest rent in Providence, RI?

The cheapest rent in Providence, RI is a one-bedroom apartment. Currently, the median rent for a one-bedroom apartment in Providence, RI is $1,075 a month.

How expensive is it to live in Providence, RI?

Your expenses and budget will fluctuate depending on where you live in Providence, RI. The median rent for a one-bedroom apartment in Providence is $1,075 a month. A two-bedroom apartment runs $1,463 a month. You can expect to pay at least $4,698 on food if you're a single adult living in Providence. You'll spend $9,085 a year on transportation and $3,606 on healthcare as a single adult every year in Providence.

What is the population of Providence, RI?

According to the US Census Bureau, the population of Providence, RI was 190,792 in 2023. The population of the entire state of Rhode Island was 1,112,308.

What is a good salary in Providence, RI?

We recommend only spending 30% or less of your take-home pay on rent. If you rent a one-bedroom apartment for $1,075, you should earn at least $43,000 a year, $3,583.33 a month, or $20.67 an hour.

You can also consider MIT's living wage data that says you should to make at least $23.23 an hour to live above the poverty line and cover your basic expenses in Providence. This figure would allow you to cover housing, food, transportation and other necessities. However, it doesn't take into account student debt repayments, travel, an emergency fund, and other expenses.

Finally, you could look at the U.S. Census Bureau's data that shows the median household income in Providence, RI is currently $66,772.