10 Most Affordable Places to Live in Rhode Island in 2024
The smallest state in the US, Rhode Island, has no shortage of reasons to consider moving there. With charming small towns along the coast, historic cities like Providence, the state’s maritime heritage, historic mansions, and beautiful islands, there’s much to love about Rhode Island. If Rhode Island sounds like the state for you, then you may also be curious about what cities fit into your budget. When it comes to buying a home in Rhode Island the median home sale price is $489,100.
If that price is out of your budget, don’t worry. We’ve got options to help you find a home. Redfin has rounded up a list of the 10 of the most affordable places to live in Rhode Island – and they all have a median home sale price under the state’s average. From West Warwick to Woonsocket, read on to see what cities you may want to consider moving to.
#1: Central Falls
Median home price: $377,000
Average sale price per square foot: $181
Median household income: $34,689
Nearest major metro: Providence (5 miles)
Central Falls, RI homes for sale
Central Falls, RI apartments for rent
With a median home sale price of $377,000, Central Falls lands the number one spot on our list as the most affordable place to live in Rhode Island. You’ll find there are about 22,600 residents in the Central Falls area so you’ll have a smaller city-like feel without the big-city prices. If Central Falls is the city for you, be sure to spend the afternoon at Valley Falls Pond and check out the restaurants and shops in the heart of Central Falls.
#2: West Warwick
Median home price: $380,000
Average sale price per square foot: $244
Median household income: $62,649
Nearest major metro: Providence (10 miles)
West Warwick, RI homes for sale
West Warwick, RI apartments for rent
The second spot is West Warwick, with a median home sale price of $380,000. There are about 31,000 residents living in this mid-sized city, located about 10 miles south of Providence. If you’re considering moving to this area make sure to check out the Matteson Pond Recreation Area, explore the Arctic neighborhood, and golf at one of the clubs.
#3: North Providence
Median home price: $385,000
Average sale price per square foot: $236
Median household income: $63,158
Nearest major metro: Providence (5 miles)
North Providence, RI homes for sale
North Providence, RI apartments for rent
Another noteworthy city is North Providence, where you’ll find the home prices are about $100K less than the state’s average. North Providence has about 34,100 residents and is a great city to consider living in this year. Whether you visit Governor John Notte Memorial Park along the Wenscott Reservoir, grab a meal at one of the stellar local restaurants, and golf at one of the courses, there are many activities to do and see in this city.
#4: Warwick
Median home price: $397,500
Average sale price per square foot: $256
Average rent for a 1-bedroom apartment: $1,622
Median household income: $73,285
Nearest major metro: Providence (10 miles)
Warwick, RI homes for sale
Warwick, RI apartments for rent
Claiming the fourth spot on our list of affordable places to live in Rhode Island is Warwick. With a population of about 82,800, you’ll be living in a mid-sized city, but there is no shortage of things to do in Warwick. Don’t miss out on enjoying nature at the waterfront spots like Rocky Point State Park, Buttonwoods Beach, or Conimicut Point Park, having a meal by the water, or checking out some of the other amazing local restaurants and shops in town once moving here.
#5: Pawtucket
Median home price: $420,000
Average sale price per square foot: $239
Average rent for a 1-bedroom apartment: $1,750
Median household income: $52,902
Nearest major metro: Providence (5 miles)
Pawtucket, RI homes for sale
Pawtucket, RI apartments for rent
Fifth is Pawtucket where about 75,600 residents currently live. The median home sale price is $420,000 which is about $70K less than the median home sale price in Rhode Island. If you find yourself moving to this affordable place in Rhode Island, check out one of the parks like Slater Memorial Park or Ten Mile River, stop by the Old Slater Mill National Historic Landmark, and visit the downtown area.
#6: Coventry
Median home price: $427,950
Average sale price per square foot: $235
Median household income: $44,310
Nearest major metro: Providence (15 miles)
Coventry, RI homes for sale
Coventry, RI apartments for rent
A little more expensive than Pawtucket is the city of Coventry. There are several top attractions you may want to check out in Coventry. Make sure to explore the nature preserves like Audubon George Parker Woodland Wildlife Refuge, Audubon Maxwell Mays Wildlife Refuge, or Tillinghast Pond Management Area, take a camping trip, or fish at Tiogue Lake.
#7: East Providence
Median home price: $432,064
Average sale price per square foot: $264
Average rent for a 1-bedroom apartment: $1,950
Median household income: $65,016
Nearest major metro: Providence (5 miles)
East Providence, RI homes for sale
East Providence, RI apartments for rent
Another great place to consider living in Rhode Island is East Providence where the population is about 47,100. Popular things to do in East Providence include stopping by the Crescent Park Carousel which dates back to 1895 and taking in the scenic views from Sabin Point Waterfront Park. You can also take a tour of Pomham Rocks Lighthouse and visit downtown East Providence.
#8: Johnston
Median home price: $442,000
Average sale price per square foot: $262
Median household income: $75,579
Nearest major metro: Providence (5 miles)
Johnston, RI homes for sale
Johnston, RI apartments for rent
If you’ve been living in Rhode Island for some time, you probably know Johnston. About 29,600 people live in Johnston, just 5 miles west of Providence. Once moving to Johnston you’ll want to explore the trails at the expansive Snake Den State Park where you’ll also find the Wicked Tulips Farm, and check out the shops and restaurants along Atwood Ave.
#9: Woonsocket
Median home price: $455,000
Average sale price per square foot: $198
Average rent for a 1-bedroom apartment: $900
Median household income: $44,310
Nearest major metro: Providence (15 miles)
Woonsocket, RI homes for sale
Woonsocket, RI apartments for rent
Taking ninth place on our list of affordable cities to live in Rhode Island is Woonsocket. When living in this city of 43,200 people, you can visit one of the museums like the Museum of Work & Culture, sites like the Polar Express Station, see a show at the Stadium Theatre, and check out one of the parks like Cass Park.
#10: Cranston
Median home price: $467,814
Average sale price per square foot: $257
Average rent for a 1-bedroom apartment: $1,360
Median household income: $44,310
Nearest major metro: Providence (5 miles)
Cranston, RI homes for sale
Cranston, RI apartments for rent
The final area on our list of most affordable places to live in Rhode Island is Cranston. With 82,900 residents, moving to this affordable city gives you the perks of city-life without living in a major metropolitan area. Living in Cranston, you can check out all the local restaurants in the heart of the city, and visit some of the parks like Pawtuxet Oboes Park and John L. Curran State Park.
Methodology: All cities must have over 20,000 residents per the US Census and have a median home sale price under the average median home sale price in Rhode Island. Median home sale price and median sale price per square foot from the Redfin Data Center during July 2024. Average rental data from Rent.com August 2023. Population and median household income data sourced from the United States Census Bureau.
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