Valley Falls, RI

Average · 97

Rhode Island · Population 12,370 · Updated March 2026

$1,160
Median Rent / Month
$93,653
Median Income
$347,900
Median Home Value
$1,481
Owner Costs / Month

Affordability

How far your income goes in Valley Falls

14.9%
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

$13,920
Annual Rent
$5,610
State Income Tax
$5,323
Property Tax (est.)

Cost of Living Overview

Valley Falls has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 97 (where 100 equals the national median), Valley Falls residents can expect to pay median rent of $1,160/month while earning a median household income of $93,653/year.

The median home value in Valley Falls, RI is $347,900, with typical monthly owner costs around $1,481 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.9% 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 Valley Falls.

Frequently Asked Questions

Common questions about living costs in Valley Falls

What is the cost of living in Valley Falls, RI?
The cost of living index in Valley Falls, RI is 97 (US average = 100). Median monthly rent is $1,160, median household income is $93,653/year, and the median home value is $347,900.
Is Valley Falls, RI affordable?
Yes, Valley Falls is more affordable than the national average with a cost index of 97. The rent-to-income ratio is 14.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Valley Falls, RI?
The median gross rent in Valley Falls, RI is $1,160 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,920.
What is the median household income in Valley Falls?
The median household income in Valley Falls, RI is $93,653 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%.