Central Falls, RI

Below Avg · 86

Rhode Island · Population 22,481 · Updated March 2026

$1,118
Median Rent / Month
$45,921
Median Income
$300,500
Median Home Value
$1,186
Owner Costs / Month

Affordability

How far your income goes in Central Falls

29.2%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Rhode Island

State-level tax rates that affect your costs

5.99%
Income Tax (Top Rate)
7.0%
Sales Tax
1.53%
Property Tax Rate

Estimated Annual Costs

$13,416
Annual Rent
$2,751
State Income Tax
$4,598
Property Tax (est.)

Cost of Living Overview

Central Falls offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 86 (where 100 equals the national median), Central Falls residents can expect to pay median rent of $1,118/month while earning a median household income of $45,921/year.

The median home value in Central Falls, RI is $300,500, with typical monthly owner costs around $1,186 including mortgage, insurance, and taxes. With a rent-to-income ratio of 29.2%, Central Falls falls within the generally affordable range, though it's approaching the 30% burden threshold.

Rhode Island has a moderate income tax rate of 5.99%. Combined with a 7.0% sales tax rate and 1.53% effective property tax rate, the overall tax environment is a factor in the total cost of living in Central Falls.

Frequently Asked Questions

Common questions about living costs in Central Falls

What is the cost of living in Central Falls, RI?
The cost of living index in Central Falls, RI is 86 (US average = 100). Median monthly rent is $1,118, median household income is $45,921/year, and the median home value is $300,500.
Is Central Falls, RI affordable?
Yes, Central Falls is more affordable than the national average with a cost index of 86. The rent-to-income ratio is 29.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Central Falls, RI?
The median gross rent in Central Falls, RI is $1,118 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,416.
What is the median household income in Central Falls?
The median household income in Central Falls, RI is $45,921 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Rhode Island?
Rhode Island has a top income tax rate of 5.99%, a sales tax of 7.0%, and an effective property tax rate of 1.53%.