State cost profile · 2024 BEA RPP
Cost of Living in Rhode Island
Statewide Regional Price Parities for Rhode Island from the Bureau of Economic Analysis, overall, goods, services, and rents vs the U.S. average of 100, across 1 metro areas.
- 102.3
- Statewide RPP
- #15
- of 51 states by cost
- 105.6
- Rents RPP
- 1
- Metro areas
Rhode Island ranks #15 of 51 states by cost, and its statewide price index has held steady since 2008.
- stable since 2008
- rose +0.2 points in the 2023-2024 release
- similar cost to Alaska
The verdict
Rhode Island is more expensive than 71% of U.S. states, a statewide cost index of 102.3, 2.3% above the national average.
- Services
- furthest category from 100, at 146.7
- Alaska
- closest statewide cost peer, 0.1 points away
- Providence-Warwick
- highest-cost metro, 101.8
- top 29%
- national statewide placement
A $100,000 national salary carries the purchasing power of about $97,771 when earned in Rhode Island.
Metro areas in Rhode Island, ranked by cost
| Metro area | Overall | Goods | Services | Rents |
|---|---|---|---|---|
| Providence-Warwick | 101.8 | 97.1 | 148.8 | 103.9 |
The Rents RPP index measures housing costs relative to the national average (100). For the federal 40th-percentile Fair Market Rent by bedroom size and county, see the HUD Fair Market Rents dataset.
Latest BEA release change
What changed from 2023 to 2024
Rhode Island's overall RPP rose +0.2 points, from 102.1 in 2023 to 102.3 in 2024. The largest category move was rents, changing from 102.7 to 105.6. RPP is a relative price index, so this reports a change against the national benchmark rather than a household's dollar bill.
Rhode Island RPP history, 2008–2024
The statewide index has changed by only 1.3 points from 2008 to 2024. The line shows every retained BEA release against the national benchmark of 100; the table preserves the component detail.
| Year | Overall |
|---|---|
| 2008 | 103.6 |
| 2009 | 103.9 |
| 2010 | 101.8 |
| 2011 | 101.1 |
| 2012 | 99.8 |
| 2013 | 101.4 |
| 2014 | 100.3 |
| 2015 | 102.0 |
| 2016 | 101.6 |
| 2017 | 102.4 |
| 2018 | 102.0 |
| 2019 | 102.4 |
| 2020 | 101.8 |
| 2021 | 102.2 |
| 2022 | 104.5 |
| 2023 | 102.1 |
| 2024 | 102.3 |
Reading the Rhode Island Cost of Living Picture
Rhode Island clusters near the national line with Alaska, Colorado, Oregon as its closest statewide peers. In that near-par lane, the component mix matters more than the small headline distance from 100. Services and Goods are 49.5 points apart, so the statewide average joins two materially different household experiences.
Rhode Island captures 1 metro area in the BEA dataset, and the range across them is meaningful. With a single metro reporting in the BEA series, the statewide figure reflects that urban anchor directly. For goods the state indexes at 97.2, for services 146.7, and for rents 105.6. Rents sit within 3.3 points of the statewide index, so no single category is distorting the headline — unusual, and it makes the state number more transferable between households than most.
Over time, Rhode Island's statewide index has held steady within 1.3 points, suggesting a stable competitive position against other states. Practically, this means a $100,000 national salary delivers the purchasing power of about $97,771 of national buying power when earned inside Rhode Island, and a household relocating here would need roughly $102,280 to reproduce a $100K lifestyle. With a single reporting metro, this figure carries no internal range to check it against, which is a reason to weight local wage and rent data more heavily than usual.
Rhode Island vs every U.S. state
Where this state sits in the national cost distribution
102 Top 29% higher than 71% of 51 US states
Each bar is a band; taller bars hold more US states. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Bureau of Economic Analysis, Regional Price Parities · 2024
What this means in Rhode Island
The statewide index is a starting point, cost varies metro to metro within Rhode Island.
- Rents index at 105.6 (5.6% above average) - the largest swing in the RPP. Review the housing line before any relocation decision. Highest rents
- Weighing Rhode Island against another state? Convert your salary to local purchasing power first. Salary calculator
RPP is BEA's annual price-level benchmark (national average = 100) for the data year shown, pair it with local wages and current rents before deciding.
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Cost of living guides →, cheapest and most-expensive rankings, cost of living vs wages, and how BEA constructs RPP data.
States with Similar Cost of Living
These states have RPP indices closest to Rhode Island, making them useful peers for relocation or budget comparison.
Nationwide states with similar overall cost or rent prices
Two BEA RPP-derived peer sets for Rhode Island: nearest states by overall regional price parity and by rents RPP. These are labelled nationwide neighborhoods, distinct from the closest-RPP list above.
Similar overall RPP
Nearest states by overall regional price parity (102.3 here).
Similar rents RPP
Nearest states by rents regional price parity (105.6 here).
Source: Bureau of Economic Analysis, Regional Price Parities Index where national average = 100
Frequently Asked Questions
Where does Rhode Island sit versus the national cost-of-living line?
Rhode Island has a Regional Price Parity (RPP) index of 102.3, meaning it is 2.3% more expensive than the national average. Goods are indexed at 97.2, services at 146.7, and rents at 105.6.
What salary in Rhode Island equals $100K nationally?
To maintain the same purchasing power as a $100,000 salary at the national average, you would need approximately $102,280 in Rhode Island. Conversely, $100K earned in Rhode Island has the purchasing power of $97,771 at the national average.
Is housing expensive in Rhode Island?
Rents in Rhode Island are indexed at 105.6, which is 5.6% above the national average. Housing costs are close to the national average.
Is Rhode Island getting more expensive?
From 2008 to 2024, Rhode Island's overall cost index changed by -1.3 points (from 103.6 to 102.3). The cost of living has remained relatively stable.
Which categories pull Rhode Island away from the national average?
The most expensive category in Rhode Island is services at 146.7, which is 46.7% above the national average. The most affordable category is goods at 97.2, 2.8% below average.
Data sources
- BEA Regional Price Parities (RPP), the cost-of-living indices shown on this page
- U.S. Census Bureau, American Community Survey (ACS), gross-rent observations behind the rents component
- BLS Consumer Price Index (CPI), goods and services price relatives
- BLS Occupational Employment and Wage Statistics (OEWS), labor-driven services component
- HUD Fair Market Rents (FMR), 40th-percentile rent cross-reference
Every figure on PlainCost is rendered directly from BEA Regional Price Parity source data, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, our changelog, or report a data error. Data current as of 2024. Rankings measure the published cost-of-living index only; we don't recommend where to live or rate any metro's quality of life.