Rhode Island's cost of living index is 117 — 17.0% above the US average of 100. Compare purchasing power and equivalent salaries across states.
CoL Index
117
US avg = 100
vs. National Avg
+17.0%
More expensive
Median Income
$70,305
Rhode Island median household
Equiv. at US Avg
$60,090
Same purchasing power
| CoL Index | 117 | MIT/MERIC composite index (US avg = 100) |
| vs. National | +17.0% | Above average cost |
| Median Household Income | $70,305 | Rhode Island median (2023 ACS) |
| National Purchasing Power | $60,090 | Equivalent $ at US avg CoL |
| Overall Category | High | Qualitative classification |
| Population | 1,097,379 | 2020 US Census |
With a cost of living index of 117, Rhode Island is 17% above the national average. Higher costs in Rhode Island mean your dollar stretches less far than in most states. A salary of $70,305 in Rhode Island provides the equivalent purchasing power of $60,090 in a state with average cost of living.
Housing is typically the largest driver of cost of living differences between states.Rhode Island's median home price of $400,000 is near the national median of approximately $310,000. Other factors include state income tax (5.99% top rate in Rhode Island), sales tax (7.00% state rate), and local property tax rates (1.63%).
