Providence, Rhode Island Income Statistics
Providence Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
D
Providence Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Providence | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,755 | $88,093 | $80,455 |
| Median Personal Income | $53,819 | $66,452 | $60,758 |
| Average Yearly Income Growth | 7.7% | 5.2% | 4.8% |
| Six-Figure Earners | 10.4% | 14.6% | 13.9% |
| $200k+ Households | 9.8% | 13.8% | 13.2% |
The median household income in Providence is about 23% lower than in Rhode Island. Income has been growing faster in Providence (7.7%/yr) than in Rhode Island (5.2%/yr).
About 10% of adults in Providence earn six figures ($100,000 or more) a year, lower than the Rhode Island average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Providence, Rhode Island grew by 81.2% from 2009 to 2024, reaching $67,755 in 2024. That's an average of about 7.7% per year.
Income Inequality and the Gender Pay Gap in Providence
| Metric | Providence | Rhode Island Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.581 | 0.529 | 0.552 |
| Male Median Income | $60,693 | $75,201 | $69,667 |
| Female Median Income | $53,454 | $63,031 | $56,850 |
| Gender Pay Gap | 11.9% | 16.2% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Providence, it is 0.581, higher than Rhode Island's 0.529, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 14% more than women's income in Providence, Rhode Island. Over a 35-year career, a 14% wage gap accumulates to roughly $253,365 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Providence, Rhode Island has narrowed from about 14% to 12% in 2024. Over that period the gap was widest at 18% in 2021, and was narrowest at 8% in 2016. In dollar terms, the gap has widened by $1,825 since 2009.
Employment
| Metric | Providence | Rhode Island Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.2% | 5.8% | 5.2% |
| Working from Home | 14.3% | 13.0% | 15.0% |
| Commute time (minutes) | 20 | 21 | 22 |
Approximately 8,312 people are unemployed in Providence, Rhode Island.
The average commute time in Providence is 20 minutes, shorter than the 21 minutes in Rhode Island.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Providence, Rhode Island has fallen from 14.2% to 8.2% in 2024. Over that period the rate peaked at 14.7% in 2012 and fell as low as 7.1% in 2020.
Providence, RI Wealth Compared With Nearby Cities
Providence, RI is the largest of the 5 cities compared here, 191,427 residents against a local median of 61,462. Where Providence, RI breaks from the cities next to it is income growth, sitting 45% above the local median of 5.3%/yr at 7.7%/yr. That is the better end of the local range on this measure.
Unemployment tells the same story from another angle: 8.2% against a local median of 6.7%, 22% above it. The picture is mixed rather than uniform: income growth runs ahead of the neighbourhood while unemployment runs behind it, so Providence, RI is trading one against the other rather than simply out-performing what surrounds it. The cities themselves spread 2.2%/yr on income growth, so Providence, RI sits at one end of an already wide local range rather than apart from it. Providence, RI has the highest income growth of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Providence, RI | 191,427 | $67,755 #4/5 | 7.7%/yr #1/5 | 8.2% #5/5 | 0.581 #5/5 |
| East Providence, RI | 47,128 | $75,877 | 4.8%/yr | 5.5% | 0.500 |
| Pawtucket, RI | 75,796 | $69,228 | 5.8%/yr | 7.3% | 0.497 |
| Central Falls, RI | 22,570 | $49,176 | 7.0%/yr | 7.9% | 0.525 |
| Cranston, RI | 83,232 | $90,177 | 4.8%/yr | 6.1% | 0.532 |
Conclusion
Considering all these factors, Providence, Rhode Island has an overall wealth index grade of D, making it somewhat worse than Rhode Island, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Providence, Rhode Island.
How Rich Is Providence, Rhode Island?
Providence has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $67,755, about 23% lower than the Rhode Island average of $88,093.
How has median household income changed in Providence, Rhode Island?
Between 2009 and 2024, the median household income in Providence, Rhode Island rose 81%, from $37,403 to $67,755. Over the same years, income here outpaced Rhode Island as a whole: +81% against +57%.
What was the median household income in Providence in 2023?
In 2023, the median household income in Providence, Rhode Island was $66,865, up 9% from $61,617 in 2022. The Rhode Island median that year was $86,472.
What was the median household income in Providence in 2020?
In 2020, the median household income in Providence, Rhode Island was $49,200. By 2024 it had risen 38% to $67,755.
Is unemployment high in Providence, Rhode Island?
Unemployment in Providence, Rhode Island is 8.2%, well above the Rhode Island rate of 5.8%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Providence, Rhode Island?
The Gini coefficient in Providence is 0.581. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Providence, Rhode Island?
Since 2009, the income gap between men and women in Providence, Rhode Island has narrowed from about 14% to 12% in 2024. Over that period the gap was widest at 18% in 2021, and was narrowest at 8% in 2016. In dollar terms, the gap has widened by $1,825 since 2009.
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