Providence, RI Relocation Guide (2026)
Cost of living, housing, and income data for Providence, sourced from the US Census Bureau.
Salary needed to live in Providence →
Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.
Roughly 189,715 people call Providence, Rhode Island home. Household income runs $61,365 at the median, below what we see across the broader set of cities (-15%).
Housing costs are a defining factor for anyone relocating to Providence. The median home value sits at $293,000 (below the multi-city median at -10%), while renters pay a median of $1,214 per month. Buyers should weigh current mortgage rates and local property taxes against these figures before committing.
Providence's home-price-to-income ratio of about 4.8× is fairly typical — housing costs track reasonably in line with local pay. Prices in the area have gained 5.31% year over year, a moderate pace that suggests a stable market around Providence. Climate and natural-hazard risk in Providence runs on the lower side, per FEMA's Relatively Moderate rating.
Personal Affordability Check
Renting at $1,214/mo in Providence would take 23.7% of your income.
$320/mo under the 30% guideline.
Buying the median home ($293,000) would take 30.6% of your income toward principal & interest.
$132/mo over the 28% guideline.
Cost of housing in Providence
Median home value is $293,000 and median gross rent is $1,214/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.
FHFA's county-level home price index for Providence rose 5.31% over the past year (as of 2025).
HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,729/month.
Climate & home insurance
FEMA rates Providence's overall natural-hazard risk as Relatively Moderate. Risk level is a major driver of home insurance premiums.
Safety
Providence reported a violent crime rate of 286.6 per 100,000 residents in 2025, per FBI data.
Moving to Providence
Planning a move to Providence? Compare licensed movers and get quotes based on your origin and move date.
Frequently asked questions
- What is the cost of living in Providence, RI?
- Providence's key cost-of-living figures: $293,000 median home value, $1,214 median monthly rent, and $61,365 median household income, per the US Census Bureau ACS 5-Year (2022).
- How much do you need to earn to live comfortably in Providence?
- Comfortably affording rent in Providence — where the median runs $1,214/month — typically means earning about $48,560 a year, per the standard 30%-of-income benchmark. See the full salary breakdown (renting and buying) for Providence.
- Is it better to rent or buy in Providence?
- Providence's median rent of $1,214/month translates to about $48,560 a year needed to rent comfortably, versus roughly $67,037 a year for principal and interest on the $293,000 median home (20% down, 30-year fixed, today's rates). How long you'll stay is usually the deciding factor.
- Is Providence safe?
- In 2025, Providence reported 286.6 violent crimes per 100,000 residents, according to FBI data.
See the full salary breakdown for Providence →
Cities with a similar cost of living
Matched on median rent and household income within 15% of Providence's.