Rhode Island households earn a median $87,796 a year and pay a median $1,342 in rent, according to the Census Bureau. Before borrowing, confirm the lender's state license, compare written offers on APR, fees and total cost, and walk away from any upfront fee.
On this page
- Rhode Island by the numbers
- What the numbers mean for Rhode Island borrowers
- Largest places in Rhode Island
- The next 20 places in Rhode Island
- Counties with the most residents
- How Rhode Island earns a living
- More context for Rhode Island budgets
- Checking a lender in Rhode Island
- Can Rhode Island residents use the questionnaire?
- Local guides in Rhode Island
- Frequently asked questions
Rhode Island by the numbers
Start with the numbers. These Census Bureau estimates (five-year ACS, 2020 to 2024) cover what Rhode Island households earn, what they pay for housing and how they get to work.
| Measure | Rhode Island | U.S. | Rank (1 = highest) |
|---|---|---|---|
| Median household income | $87,796 | $80,734 | 15th |
| Workers who work from home | 13% | 15% | 29th |
| Adults 25+ with a bachelor's degree | 38% | 36% | 14th |
| Median age | 40.6 | 38.9 | 10th |
| Gini index (inequality) | 0.461 | 0.483 | 32nd |
| Share of households under $35,000 | 21% | 21% | 31st |
| Households earning $100,000 or more | 44% | 41% | 15th |
| People below the poverty line | 11.2% | 12.5% | 30th |
| Jobless rate, 5-year ACS | 5.8% | 5.2% | 10th |
| Rent, median gross (monthly) | $1,342 | $1,413 | 22nd |
| Renters paying 30%+ of income on rent | 48% | 51% | 33rd |
| Median home value | $404,200 | $332,700 | 14th |
| Homes owner-occupied | 64% | 65% | 42nd |
| Mortgaged owners paying 30%+ on housing | 31% | 28% | 7th |
| Home value to income ratio | 4.6x | 4.1x | 15th |
| Commutes of 45 minutes or longer | 15% | 17% | 21st |
What the numbers mean for Rhode Island borrowers
Over 2020 to 2024, 5.8% of the Rhode Island labor force was unemployed on average in the ACS, against 5.2% nationally; the poverty rate was 11.2%. A new job is not a deal breaker for most lenders, but a gap in income usually is.
On commuting, Rhode Island ranks 21st: 15% of workers need 45 minutes or more to get to work (U.S. 17%). Remote and self-employed workers should expect lenders to ask for bank statements or tax returns in place of a simple pay stub.
At $87,796, median household income in Rhode Island ranks 15th of 51 jurisdictions; the national median is $80,734. Think of the median as the budget a typical offer is written for; if yours is tighter, borrow less.
Median gross rent in Rhode Island is $1,342 a month, ranking 22nd, and 48% of renters are cost-burdened by the Census definition, compared with 51% nationally. For a renter, the safest loan is the smallest one that fixes the problem, sized to what is left after rent.
Largest places in Rhode Island
These 12 places hold the biggest populations in Rhode Island. Income, rent and home values come from the 2020 to 2024 American Community Survey.
| City or town | County | Residents | Household income (median) | Median rent | Median home value |
|---|---|---|---|---|---|
| Providence | Providence County | 191,767 | $68,119 | $1,408 | $362,200 |
| Cranston | Providence County | 83,250 | $90,206 | $1,375 | $378,300 |
| Warwick | Kent County | 83,175 | $88,708 | $1,363 | $354,600 |
| Pawtucket | Providence County | 75,893 | $68,310 | $1,208 | $325,500 |
| East Providence | Providence County | 47,281 | $75,912 | $1,288 | $365,500 |
| Woonsocket | Providence County | 43,521 | $61,059 | $1,161 | $311,000 |
| Cumberland | Providence County | 36,820 | $117,522 | $1,379 | $431,000 |
| Coventry | Kent County | 35,907 | $102,946 | $1,206 | $356,200 |
| North Providence | Providence County | 34,293 | $83,756 | $1,405 | $355,900 |
| South Kingstown | Washington County | 32,073 | $108,960 | $1,368 | $560,200 |
| West Warwick | Kent County | 31,173 | $77,608 | $1,303 | $330,800 |
| Johnston | Providence County | 29,835 | $91,866 | $1,275 | $355,500 |
Rhode Island has 4 places with 50,000 or more residents and 31 with at least 10,000. Among places of 20,000 or more, median household income runs from $49,285 in Central Falls to $126,293 in North Kingstown. Newport renters pay the most ($1,698 at the median) and Smithfield renters the least ($1,016).
The next 20 places in Rhode Island
Places ranked 13 to 32 by population.
| Place | Residents | Median household income | Rent (median) |
|---|---|---|---|
| North Kingstown | 27,859 | $126,293 | $1,268 |
| Newport | 24,874 | $86,313 | $1,698 |
| Lincoln | 22,864 | $104,821 | $1,468 |
| Central Falls | 22,701 | $49,285 | $1,200 |
| Smithfield | 22,233 | $102,077 | $1,016 |
| Bristol | 22,220 | $97,764 | $1,579 |
| Westerly | 18,411 | $95,207 | $1,260 |
| Portsmouth | 17,644 | $117,467 | $1,719 |
| Barrington | 17,126 | $153,198 | $1,943 |
| Middletown | 16,832 | $101,948 | $1,990 |
| Burrillville | 16,427 | $119,813 | $1,206 |
| East Greenwich | 14,554 | $177,090 | $1,276 |
| Narragansett | 14,494 | $95,721 | $1,712 |
| North Smithfield | 12,708 | $108,866 | $1,282 |
| Valley Falls | 12,657 | $92,901 | $1,362 |
| Warren | 11,144 | $90,729 | $1,363 |
| Newport East | 11,069 | $89,028 | $1,876 |
| Scituate | 10,517 | $112,315 | $1,489 |
| Glocester | 10,221 | $113,508 | $1,417 |
| Wakefield-Peace Dale | 9,302 | $106,551 | $1,258 |
Measured as a year of median rent against median household income, housing weighs most in Central Falls (29%) and least in East Greenwich (9%) among these 20 places.
Counties with the most residents
Population and housing costs for the 5 biggest of 5 counties in Rhode Island.
| County | Residents | Median household income | Median gross rent | Median home value |
|---|---|---|---|---|
| Providence County | 664,854 | $78,787 | $1,312 | $373,600 |
| Kent County | 171,456 | $94,345 | $1,327 | $366,100 |
| Washington County | 130,344 | $106,638 | $1,327 | $510,800 |
| Newport County | 84,657 | $103,514 | $1,713 | $609,700 |
| Bristol County | 50,490 | $114,490 | $1,528 | $513,800 |
Median income by county stretches from $78,787 (Providence County) up to $114,490 (Bristol County). That spread is a reminder to size a payment to your own budget, not to a state average.
How Rhode Island earns a living
Top four employers of Rhode Island residents by industry, with the gap to the U.S. mix.
| Industry | Share of Rhode Island workers | National share | Gap vs U.S. |
|---|---|---|---|
| Education, health care and social assistance | 26% | 24% | +2.8 pts |
| Professional, scientific and administrative services | 12% | 13% | -1.0 pts |
| Retail trade | 11% | 11% | +0.6 pts |
| Manufacturing | 11% | 10% | +0.8 pts |
Rhode Island's signature sector, measured against the U.S., is education, health care and social assistance at 26% of employed residents. If your income comes from self-employment or gig work, gather two years of tax returns and recent bank statements before you compare offers.
More context for Rhode Island budgets
Rhode Island's Gini index of income inequality is 0.461 (U.S.: 0.483; higher means more unequal), 38% of adults 25 and older hold a bachelor's degree, and the median resident is 40.6 years old.
In Rhode Island, 44% of households report $100,000 or more in income and 21% report under $35,000, against 41% and 21% for the country. If your household sits under $30,000 a year, start with credit unions, creditor hardship plans and nonprofit counseling before a personal loan.
Rhode Island is a middle-of-the-pack state for homeownership: 64% of occupied homes are owned, against 65% nationally. The median value of $404,200 equals 4.6 years of median income. Among owners with a mortgage, 31% spend 30 percent or more of income on housing (U.S.: 28%).
Checking a lender in Rhode Island
The Rhode Island Department of Business Regulation is Rhode Island's state banking agency in the CSBS directory. Start there, or with NMLS Consumer Access, whenever a lender you have not heard of reaches out.
- If a lender stops answering, the CFPB complaint form usually gets a response within weeks.
- Search the lender by name on NMLS Consumer Access to see which states it is licensed in.
- Never pay a fee before the money arrives; the FTC calls that an advance-fee loan scam.
Can Rhode Island residents use the questionnaire?
Partner availability depends on the state. For Rhode Island, the questionnaire checks coverage at the location step and never asks for contact details when no partner can help.
Local guides in Rhode Island
We publish 2 local guides for Rhode Island, each built on Census data for that place.
Frequently asked questions
Who regulates personal lenders in Rhode Island?
Start with the Rhode Island Department of Business Regulation, Rhode Island's banking agency in the CSBS directory. NMLS Consumer Access lists many lenders' licenses, and the CFPB accepts complaints from every state.
What do households in Rhode Island earn?
The Census Bureau puts it at $87,796, which places Rhode Island 15th of 51 (U.S.: $80,734).
Is rent high in Rhode Island?
Median gross rent is $1,342 a month, and 48% of renter households spend 30 percent or more of income on rent (ACS 2020 to 2024). Nationally the figures are $1,413 and 51%.
How common are long commutes in Rhode Island?
15% of Rhode Island workers travel 45 minutes or more to work, against 17% nationally (ACS 2020 to 2024). Long drives raise fuel and repair costs, so build them into any loan budget.