11 Cheapest Places to Live in Rhode Island

Updated On March 18, 2024

Rhode Island is known as the “Ocean State”, thanks to its 400 miles of coastline.

It also has lots of beaches and marinas, making it a great place to live for water lovers.

It also has a thriving cultural scene, with plenty of museums, performing arts venues, and galleries.

It’s also close to large cities, including Boston and New York City.

If you want to move to Rhode Island, knowing the cheapest places to live can allow you to find the perfect home.

11 Cheapest Places to Live in Rhode Island

West Warrick
West Warrick

1. West Warrick

West Warrick has a median home price of $350K.

The median price per square foot is $250.

The town is only 8 square miles and has a population of 30,000.

Popular attractions include The Arctic Playhouse and Action Sports Park.

Nature lovers will enjoy

It encompasses only eight square miles and has a population of around 30,000.

The Arctic Playhouse, Station Fire Park is dedicated to the Station Night Club fire, which occurred in 2003.

The park is located on the same property as the nightclub where the fire took place.

Central Falls
Central Falls

2. Central Falls

Central Falls has a median home price of $455,000 and costs $178 per square foot.

Central Falls is the smallest city in the U.S., encompassing just 1.3 square miles.

It has a population of 22,359.

Central Falls has a mix of suburban and urban living.

The cost of living is slightly higher than average for the U.S., but it’s 6% lower than the average for Rhode Island.

It’s a very diverse city, ranked the 4th most diverse suburb in Rhode Island.

60% of residents are Hispanic or Latino.

This also leads to a variety of cuisines and cultural experiences.


3. Woonsocket

Woonsocket has a median home price of $380,000.

The price per square foot is $219 on average.

It’s one of the largest textile manufacturing centers in the country.

The first public library in Rhode Island was located here.

The building is now part of City Hall.

Woonsocket is known for its beautiful housing and upscale neighborhoods.

However, there are some poorer areas as well.

There are several public parks, and it’s fairly near the coastline as well.

However, Rhode Islanders state that the schools are not impressive.


4. Pawtucket

The median home price in Pawtucket is $375,000.

The median price per square foot is $230.

Residents say Pawtucket is safe, but there’s not much nightlife.

They also say there’s a lack of a community feel.

However, residents do enjoy Slater Park.

It features the Loof Carousel, which was built in 1894, and a three-mile bike trail.

Other features include the Daggett House.

You can enjoy the Pawtucket Arts Festival performances from the Rhode Island Philharmonic Orchestra in September, and events throughout the year.

North Providence
North Providence

5. North Providence

North Providence has a median home price of $344,500.

The price per square foot is $234 on average.

The city is a suburb of Providence, with a population of 33,945.

North Providence is made up of 7 villages.

It’s the second-smallest town in the state, encompassing just 6 square miles.

The city has a small-town feel and a strong community vibe.

The suburb features several parks. Peter Randall Park provides a view of Providence and the surrounding towns.

It’s a great place for a picnic.


6. Coventry

Coventry has an average price of $379,900.

The median price per square foot is $231.

It’s the largest city in Rhode Island by landmass, with 62 square miles of land.

It has a population of 35,656 people.

It’s a popular place to raise a family, featuring low crime rates, good schools, and plenty of outdoor activities.

The western portion of Coventry is relatively rural.

The eastern side of town is one of the quickest-growing residential areas in Rhode Island.

You’ll find lots of villages, historic homes and churches, and outdoor activities.

Residents say that there’s not much to do in Coventry, but you can learn to line dance.

Fire taxes are a bit expensive, and the schools leave something to be desired.

However, if you are looking for a rural area that allows plenty of hunting and fishing, you’ll enjoy Coventry.


7. Johnston

Johnston has a median home price of $445,500.

The price per square foot is $233.

The population of Johnston is 29,568, and the town encompasses 24 square miles.

Johnston features the Clemence-Iron House.

It was built in 1691, and it’s an example of a “stone ender” home, which became popular in England in the 1600s.

It’s a historic home museum that you can visit throughout the summer months.

You can also enjoy local parks, including the Johnston War Memorial Park and Snake Den State Park.

Residents say it’s a nice place to live, and near to Providence.


8. Providence

Providence has a median home price of $363,200.

The average price per square foot is $256. 60% of residents rent their homes, and the average rent is $2,500 for an 840-square-foot one-bedroom home or apartment.

Providence is an interesting city.

It has the culture of a big city, including a thriving arts community, upscale restaurants, and hotels.

At the same time, it feels like a small town, and you’ll find a strong sense of community here.

Providence is the capital of Rhode Island.

It has a small landmass of 18 square miles and a population of 189,000.

This makes the area densely populated.

The city was founded in 1636.

It went on to play a key role in the Revolutionary War and the Industrial Revolution.

History lovers will enjoy the Stephen Hopkins House and the John Brown House Museum.


9. Warren

Warren has a median home cost of $469,900.

The price per square foot averages $275.

You can rent a one-bedroom apartment for $2,641.

Houses are more expensive, averaging $3,500 per month in rent.

Warren doesn’t have a lot to do.

However, you can enjoy the East Bay Bike Path.

The 14.5-mile paved trail begins in Providence, crosses the Seekonk River, and goes through East Providence and Warren.

Warren is a small town, with a population of just 10,611.

The town began as a Massachusetts colony.

It was given to Rhode Island in 1747, along with several other towns.

It’s the original location of Brown University. Unlike Princeton and Yale, Brown welcomed students of all religious persuasions.

Rhode Island was founded on this same principle of religious freedom.


10. Cranston

Cranston is the second largest city in Rhode Island by population, with a population of 82,934.

The average home price is $390,000.

The median price per square foot is $244.

The city spans nearly 30 square miles.

Cranston was originally called Pawtuxet.

In 206, Cranston made the list of “100 Best Places to Live” published by Money.

A 2014 survey done by 247wallst declared the city 36th on their list of America’s Best Cities to Live.

Cranston became a city in 1910, with settlement going back to the early 1600s.

It’s located near Providence.

It’s well known for the St. Mary’s Feast, which was inspired by the Feast of the Madonna della Civita which is celebrated in Itri.

The festival lasts for a week and features vendors, a carnival, and a religious procession beginning at St. Mary’s Church.

In 2000, Itri and Cranston became sister cities.

Cranston boasts the first car race track in the country.

Narragansett Park was originally built for horse racing.

In 1896, the first automobile race took place there as part of the state fair.


11. Hopkinton

Hopkinton is a tiny town in Rhode Island, with a population of 8,398.

The median housing cost is $430,000, and the price per square foot is $235.

The average rent price is $1,600, which is slightly higher than the national average of $1,469.

Two-bedroom apartments can cost $1,100 to $3,529.

History lovers will be at home in Hopkinton.

Black Farm is a 264-acre farm that was developed in 1710 and functioned as an active farm for more than 200 years.

The main house was built in the late 18th century.

The state bought the farm in 1991, and much of the land is now conservation land.

You can also visit the Hopkinton Historical District, Bradford Village Historic District, and Hope Valley Historic District.

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Frequently Asked Questions

Is Rhode Island a cheap state?

Rhode Island has a relatively high cost of living, like most New England states.

It’s an attractive location with a relaxed atmosphere and lots of coastline, so it’s no surprise people are willing to pay more to call the Ocean State home.

What is the housing problem in Rhode Island?

You may have noticed from our list that housing is fairly expensive in Rhode Island.

Almost half of all renters spend more than 30% of their income on housing.

Rent typically costs $2,000 or more for a small apartment, and $3,000 or more to rent a home.

Home prices are also expensive, making home ownership out of reach for many Rhode Islanders.

Experts estimate the state needs 24,000 affordable housing units to meet the current demand.

What is the lost town of Rhode Island?

Hanton City, known as The Lost City by locals, is a ghost town.

It’s located near Smithfield, RI.

The remains of the city include home foundations, a dam that was used for irrigation, a cemetery, and stone walls.

How much do I need to make to live in Rhode Island?

You’ll need to earn about $17 an hour, or $35,000 a year, to live comfortably in Rhode Island.

This is slightly lower than the national average of $18 per hour to be comfortable.

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