Cost of Living: Indianapolis, IN vs Providence, RI (2026)

Indianapolis

Indiana
74
VS

Providence

Rhode Island
99

Indianapolis is 25% cheaper than Providence.

$1,112/mo ↓ 17%
Median Rent
$1,333/mo ↑ 20%
$62,995/yr ↓ 6%
Median Income
$66,772/yr ↑ 6%
$207,000 ↓ 36%
Home Value
$322,800 ↑ 56%
$1,124/mo ↓ 23%
Owner Costs
$1,467/mo ↑ 31%
882,043
Population
190,214

Tax Comparison

3.05%
Income Tax
5.99%
7.0%
State Sales Tax
7.0%
0.83%
Property Tax
1.53%

Affordability

21.2%
rent-to-income
Affordability
24.0%
rent-to-income

Detailed Comparison

When comparing Indianapolis, IN and Providence, RI, the overall cost of living indices are 74 and 99 respectively (national median = 100). Rent is $221/month cheaper in Indianapolis, saving renters about $2,652/year.

Median household income is $3,777/year higher in Providence. Home values also differ significantly — the median in Indianapolis is $207,000 compared to $322,800 in Providence.

Indiana has a lower income tax rate, making Indianapolis slightly more tax-friendly.

Frequently Asked Questions

Indianapolis vs Providence — common questions

Is Indianapolis or Providence cheaper to live in?
Based on our cost index, Indianapolis is cheaper to live in with an index of 74 compared to 99 (US average = 100).
What is the rent difference between Indianapolis and Providence?
Median rent in Indianapolis is $1,112/month and in Providence it's $1,333/month — a difference of $221/month.
Which city has higher income, Indianapolis or Providence?
Median household income is $62,995 in Indianapolis and $66,772 in Providence. Median household income is $3,777/year higher in Providence.
How do taxes compare between Indiana and Rhode Island?
Indiana has 3.05% income tax, 7.0% sales tax, and 0.83% property tax. Rhode Island has 5.99% income tax, 7.0% sales tax, and 1.53% property tax.
Should I move to Indianapolis or Providence?
It depends on your priorities. Indianapolis has a cost index of 74 with median rent of $1,112/mo, while Providence has a cost index of 99 with rent of $1,333/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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