Cost of Living: Richmond, VA vs Providence, RI (2026)

Richmond

Virginia
98
VS

Providence

Rhode Island
99

Richmond and Providence have a similar cost of living.

$1,314/mo ↓ 1%
Median Rent
$1,333/mo ↑ 1%
$62,671/yr ↓ 6%
Median Income
$66,772/yr ↑ 7%
$328,100 ↑ 2%
Home Value
$322,800 ↓ 2%
$1,374/mo ↓ 6%
Owner Costs
$1,467/mo ↑ 7%
227,595
Population
190,214

Tax Comparison

5.75%
Income Tax
5.99%
5.3%
State Sales Tax
7.0%
0.8%
Property Tax
1.53%

Affordability

25.2%
rent-to-income
Affordability
24.0%
rent-to-income

Detailed Comparison

When comparing Richmond, VA and Providence, RI, the overall cost of living indices are 98 and 99 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $4,101/year higher in Providence. Home values also differ significantly — the median in Richmond is $328,100 compared to $322,800 in Providence.

Virginia has a lower income tax rate, making Richmond slightly more tax-friendly.

Frequently Asked Questions

Richmond vs Providence — common questions

Is Richmond or Providence cheaper to live in?
Based on our cost index, Richmond is cheaper to live in with an index of 98 compared to 99 (US average = 100).
What is the rent difference between Richmond and Providence?
Median rent in Richmond is $1,314/month and in Providence it's $1,333/month — a difference of $19/month.
Which city has higher income, Richmond or Providence?
Median household income is $62,671 in Richmond and $66,772 in Providence. Median household income is $4,101/year higher in Providence.
How do taxes compare between Virginia and Rhode Island?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Rhode Island has 5.99% income tax, 7.0% sales tax, and 1.53% property tax.
Should I move to Richmond or Providence?
It depends on your priorities. Richmond has a cost index of 98 with median rent of $1,314/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.
View Richmond details → View Providence details →

More Comparisons

Other cost of living comparisons for Richmond and Providence

Richmond vs. Fremont Richmond vs. Baton Rouge Richmond vs. Santa Clarita Richmond vs. Hialeah Richmond vs. Spokane Richmond vs. San Bernardino Providence vs. Glendale Providence vs. Akron Providence vs. Vancouver Providence vs. Brownsville Providence vs. Knoxville Providence vs. Tempe