Cost of Living in Rumford, RI
Housing
The housing market plays a significant role in determining the cost of living in Rumford, RI.
- Housing Index: 121.5 / 100
- Median Home Price is: $295,000
- Average Rent (2 BR Apartment): $2097 per month
- Average Rent (2 BR House): $2279 per month
Based on the provided data for Rumford, RI, the housing index is remarkably low at 121.5, with the median home price standing at 295000. This could suggest excellent opportunities for homebuyers looking for affordability in today's market. However, it's concerning that the average rents for both 2-bedroom apartments and houses are at 2097 and 2279, respectively, indicating a lack of rental options. If your priority is budget-friendly homeownership, this may be an ideal time to consider moving to Rumford. Keep in mind to explore local amenities and employment opportunities as well.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Rumford, 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 Rumford, 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 Rumford is a financially viable option for your relocation.