Cost of Living: Providence, RI vs Elizabeth, NJ (2026)

Providence

Rhode Island
99
VS

Elizabeth

New Jersey
112

Providence is 12% cheaper than Elizabeth.

$1,333/mo ↓ 9%
Median Rent
$1,463/mo ↑ 10%
$66,772/yr ↑ 5%
Median Income
$63,874/yr ↓ 4%
$322,800 ↓ 18%
Home Value
$393,500 ↑ 22%
$1,467/mo ↓ 5%
Owner Costs
$1,543/mo ↑ 5%
190,214
Population
135,887

Tax Comparison

5.99%
Income Tax
10.75%
7.0%
State Sales Tax
6.625%
1.53%
Property Tax
2.23%

Affordability

24.0%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Providence, RI and Elizabeth, NJ, the overall cost of living indices are 99 and 112 respectively (national median = 100). Rent is $130/month cheaper in Providence, saving renters about $1,560/year.

Median household income is $2,898/year higher in Providence. Home values also differ significantly — the median in Providence is $322,800 compared to $393,500 in Elizabeth.

Rhode Island has a lower income tax rate, making Providence slightly more tax-friendly.

Frequently Asked Questions

Providence vs Elizabeth — common questions

Is Providence or Elizabeth cheaper to live in?
Based on our cost index, Providence is cheaper to live in with an index of 99 compared to 112 (US average = 100).
What is the rent difference between Providence and Elizabeth?
Median rent in Providence is $1,333/month and in Elizabeth it's $1,463/month — a difference of $130/month.
Which city has higher income, Providence or Elizabeth?
Median household income is $66,772 in Providence and $63,874 in Elizabeth. Median household income is $2,898/year higher in Providence.
How do taxes compare between Rhode Island and New Jersey?
Rhode Island has 5.99% income tax, 7.0% sales tax, and 1.53% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Providence or Elizabeth?
It depends on your priorities. Providence has a cost index of 99 with median rent of $1,333/mo, while Elizabeth has a cost index of 112 with rent of $1,463/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Providence details → View Elizabeth details →

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