Newport-Middleton-Portsmouth, RI vs Providence-Fall River, RI
A 2-bedroom in Providence-Fall River costs $585 less per month than Newport-Middleton-Portsmouth ($1,729 vs $2,314). Median income is $100,859 in Newport-Middleton-Portsmouth and $85,646 in Providence-Fall River. That's a difference of $7,020 per year in housing costs.
Side-by-Side Comparison
| Metric | Newport-Middleton-Portsmouth | Providence-Fall River |
|---|---|---|
| Studio FMR | $1,752 | $1,318 |
| 1BR FMR | $1,764 | $1,402 |
| 2BR FMR | $2,314 | $1,729 |
| 3BR FMR | $3,131 | $2,087 |
| 4BR FMR | $3,595 | $2,480 |
| Median Income | $100,859 | $85,646 |
| Rent Burden | 27.5% | 24.2% |
| Actual Median Rent | $1,652 | $1,236 |
| Median Home Value | $559,700 | $385,900 |
| Population | 85K | 1.7M |
| Renter % | 32.6% | 37.1% |
| Vacancy Rate | 16.9% | 8.2% |
| Poverty Rate | 8.6% | 11.2% |
| Unemployment | 3.8% | - |
| YoY Change | +1.9% | +2.1% |
| Min Wage | $15.00/hr | $15.00/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Providence-Fall River, RI is more affordable with a 2BR FMR of $1,729/mo, which is $585 less than Newport-Middleton-Portsmouth at $2,314/mo. However, when considering local incomes, Newport-Middleton-Portsmouth has a rent burden of 27.5% vs 24.2% in Providence-Fall River.
A 2-bedroom in Newport-Middleton-Portsmouth, RI costs $2,314/mo at Fair Market Rent, while in Providence-Fall River, RI it's $1,729/mo, a difference of $585/mo or $7,020/year.
To afford a 2BR without spending more than 30% of income on rent: Newport-Middleton-Portsmouth requires $92,560/year ($45/hr). Providence-Fall River requires $69,160/year ($33/hr).