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Cost question

Is Rhode Island expensive to live in?

A direct, data-backed answer using cost-of-living exposure, housing cost signals, rent pressure, and income context.

67

/ 100

Cost-of-living risk

Short answer

It appears more expensive than many states.

Rhode Island (RI) has a score of 67, compared against other states. The score reflects rent, housing-cost, home-value, rent-to-income, and rent-growth signals where available. Coverage: State-backed. This answer uses state-level cost data for Rhode Island; city pages may use city, county, metro, or state-backed data depending on source coverage.

Source and freshness

Score versionV3
CoverageState-backed
Latest year2024

ACS 2023-2024 5-year

View data freshness →

Top drivers in this score

  • Rent growth (YoY)

    +5.4%

    Risk pressure percentile: 84

  • Median monthly housing costs

    $1,587

    Risk pressure percentile: 78

  • Median home value

    $404,200

    Risk pressure percentile: 74

How this compares

Relative risk score66.8
Median (states)52.0
Delta vs median+14.8

Approximate percentile: 67 of 100

Coverage and confidence

Scope usedState-backed
Metric coverage5/5
ConfidenceHigh confidence

Most core metrics are available at state level.

Metrics used

Median gross rent$1,342
Median home value$404,200
Median monthly housing costs$1,587
Rent as % of household income29.2%
Rent growth (YoY)+5.4%

Why it matters

Cost of living affects financial risk because fixed costs can absorb income before households address debt, savings, transportation, healthcare, or emergency expenses.

View full cost risk detail

Common follow-ups

Is Rhode Island expensive to live in?

Rhode Island (RI) has a score of 67, compared against other states. The score reflects rent, housing-cost, home-value, rent-to-income, and rent-growth signals where available. Coverage: State-backed. This answer uses state-level cost data for Rhode Island; city pages may use city, county, metro, or state-backed data depending on source coverage.

What cost data is used for Rhode Island?

FinancialRiskIQ uses public indicators such as median gross rent, monthly housing costs, home value, rent-to-income ratio, and rent growth. This state answer uses ACS 2023-2024 5-year (2024).

Does this describe every household in the state?

No. The answer describes state-level conditions using aggregated public data, not individual household budgets.