Cost of Living in Albion, RI
Housing
The housing market plays a significant role in determining the cost of living in Albion, RI.
- Housing Index: 121.5 / 100
- Median Home Price is: $300,000
- Average Rent (2 BR Apartment): $2097 per month
- Average Rent (2 BR House): $2279 per month
When considering a move to Albion, RI, the current housing data presents some interesting insights. With a housing index of 121.5 and a median home price of 300000, it showcases affordability relative to many larger urban areas. However, the absence of data for average rents for both 2-bedroom apartments and houses suggests a potentially tight rental market, which might complicate housing options for new residents. If you’re looking to own rather than rent, the median home price here could offer substantial value. Always factor in local amenities and job market conditions for a well-rounded decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Albion, RI.
- Electricity Price: $27.03 USD (median by state)
- Natural Gas Price: $21.52 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $262 per month
Living in Albion, RI could entail higher utility costs. Electricity costs sit at $27.03, while natural gas is priced at $21.52 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $262 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Albion is a financially viable option for your relocation.