Cost of Living in Wakefield-Peace Dale, RI
Cost of Living in Wakefield-Peace Dale, RI has an overall index of 114, 14% above the U.S. baseline of 100. The typical home value is $464,400; typical monthly rent is $1,196; and median household income is $111,200.
Cost index: committed city housing/rent inputs and BEA 2024 state nonmetro price parities. Home value: Census ACS 2023 fallback place estimate. Rent: Census ACS 2023 fallback place estimate. A place-level signal, not a personal affordability decision or financial recommendation.
Housing costs sit well above the national baseline. This describes the local market, not your household.
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Frequently asked questions about Wakefield-Peace Dale
Living in Wakefield-Peace Dale
Is Wakefield-Peace Dale, RI an expensive place to live?+
Yes — Wakefield-Peace Dale is about 14% more expensive than the national average, with an overall Cost Index of 114. Housing is the biggest factor: the typical home here is valued around $464,400, and monthly rents average roughly $1,196. Day-to-day costs like groceries and utilities tend to run closer to the national norm.
How does Wakefield-Peace Dale fit a household housing budget?+
Start with housing. Typical monthly rent is $1,196, while local median household income is $111,200. That implies a rent-burden proxy of about 13% before utilities and other costs. Use that as a planning signal for whether the place looks manageable under your own household assumptions.
How much are taxes in Wakefield-Peace Dale, RI?+
Rhode Island uses an approximate state-income-tax planning model; 5.99% is top marginal-rate context from the tax snapshot. Applying the 1.53% state-level effective owner-occupied proxy to a home worth $464,400 gives a planning estimate near $7,105 per year; it is not a city, county, parcel, or individual tax bill. State plus average local sales-tax context is around 7%.
How much does it cost to rent in Wakefield-Peace Dale, RI?+
The typical monthly rent in Wakefield-Peace Dale is around $1,196. That's roughly 11% lower than the $1,348 national median. For comparison, the median home value here is $464,400, so buyers should also factor in mortgage payments, property taxes, and insurance.
How much does a house cost in Wakefield-Peace Dale, RI?+
The typical home value in Wakefield-Peace Dale is $464,400. With 20% down and the committed 6.11% national 30-year fixed benchmark as of 2026-03-12, principal and interest are roughly $2,254/month before property tax and insurance. This is a planning estimate, not a local lender quote. About 68% of residents here own their homes.
Are groceries and utilities expensive in Wakefield-Peace Dale?+
Grocery prices in Wakefield-Peace Dale are about average compared to the rest of the US (index: 96, where 100 is the national average). Utility bills (electricity, gas, water) are below average (index: 88). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.
What is Wakefield-Peace Dale, RI like to live in?+
Wakefield-Peace Dale is a small town with a population of about 9,812. The median age of residents is 41, which is close to the national median. The local poverty rate is 6.71%, well below the national average of 12.4%.