Rhode Island renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Rhode Island is about $1,229 per month. This puts it in the 1st percentile compared to the nation average cost of rent, which is $1,307. Households in Rhode Island have a median income of $6,945 per month so the average renter in Rhode Island is spending roughly 18% of their earnings on housing.
Nationally, and in Rhode Island, home values are the data point most closely correlated with the cost of rent. The median price of a home in Rhode Island is $323,786 right now, which is lower than nearby states, meaning that rents in Rhode Island also tend to be lower versus these nearby states.
Higher rent prices are common in the southeastern parts of Rhode Island while lower rent rates are often available in northwestern areas.
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