Cranston, RI

Average · 104

Rhode Island · Population 82,632 · Updated March 2026

$1,332
Median Rent / Month
$87,716
Median Income
$348,800
Median Home Value
$1,572
Owner Costs / Month

Affordability

How far your income goes in Cranston

18.2%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

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

$15,984
Annual Rent
$5,254
State Income Tax
$5,337
Property Tax (est.)

Cost of Living Overview

Cranston has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 104 (where 100 equals the national median), Cranston residents can expect to pay median rent of $1,332/month while earning a median household income of $87,716/year.

The median home value in Cranston, RI is $348,800, with typical monthly owner costs around $1,572 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

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 Cranston.

Frequently Asked Questions

Common questions about living costs in Cranston

What is the cost of living in Cranston, RI?
The cost of living index in Cranston, RI is 104 (US average = 100). Median monthly rent is $1,332, median household income is $87,716/year, and the median home value is $348,800.
Is Cranston, RI affordable?
No, Cranston is more expensive than the national average with a cost index of 104. The rent-to-income ratio is 18.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Cranston, RI?
The median gross rent in Cranston, RI is $1,332 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,984.
What is the median household income in Cranston?
The median household income in Cranston, RI is $87,716 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%.