Quick facts: Cranston, RI

Quick Facts

105.3
Cost of Living
above US average
82,421
Population
12.72
Crime Rate per 1000
below US average
$83,123
Median Income
above US average
$399,000
Median House Price
above US average
$2085.0
Average Rent
above US average
8%
Poverty Rate
below US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $83,123.

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Income Needed to Buy

βœ— Stretch
$125k/year
Based on $399,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $125k vs median $83,123
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Income Needed to Rent

⚠ Stretch
$89k/year
Based on $2085.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $89k vs median $83,123
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cranston, RI

Cranston, Rhode Island, is a vibrant city located just southwest of Providence, the state capital. Known for its rich history and beautiful neighborhoods, Cranston offers a blend of urban conveniences and suburban charm. With a population of approximately 80,000 residents, it is one of Rhode Island's largest cities. Cranston features a variety of parks, including the scenic Garden City Park and Pawtuxet Park, providing residents with ample opportunities for outdoor activities and recreation. The city also boasts a selection of shopping centers, restaurants, and entertainment options, particularly in the bustling Garden City area. Educationally, Cranston is home to several public and private schools, and it is served by the Cranston Public Schools district, which is known for its commitment to quality education. Cranston's location offers easy access to major highways, making it a convenient base for commuters traveling to Providence and beyond. The city's diverse community and range of amenities make it an attractive option for families and individuals seeking a dynamic living environment in Rhode Island.

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