Cost of Living in Cranston, RI

Housing

The housing market plays a significant role in determining the cost of living in Cranston, RI.

• Housing Index: 115.5 / 100
• Median Home Price is: $368600
• Average Rent (2 BR Apartment): $1800 per month
• Average Rent (2 BR House): $1840 per month

Considering a move to Cranston, RI? The housing index of 115.5 indicates that the cost of living is relatively higher than the national average, suggesting potential challenges for budget-conscious renters and buyers. Currently, the median home price stands at 368600, which reflects a competitive market. Moreover, the average rent for a 2-bedroom apartment is 1800 and for a 2-bedroom house is 1840. As affordability becomes pivotal, it's wise to explore neighborhoods with a lower cost of living that still offer good amenities and thriving communities.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Cranston, RI.

• Electricity Price: 27.03 USD (median by state)
• Natural Gas Price: $21.52 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $275 per month

Living in Cranston, RI could entail higher utility costs. Electricity costs sit at 27.03, while natural gas is priced at 21.52 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 275 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 105.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $83123

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Cranston, RI, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.