States › Rhode Island › Wakefield-Peace Dale

Is Wakefield-Peace Dale, RI expensive to live in?

CheapRent takes 14 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,37322% lower than U.S. average
💵 Families earn per year (2026)$114,915about $9,576/month · 32% higher than U.S. average
🔑 House price$494,40049% higher than U.S. average

Rent is lower than in 65% of U.S. cities. That makes it a rare mix of above-average pay and below-average rent. A typical house costs about 4.3 years of household income. It is a highly educated city: 59.6% of adults have a college degree.

How much money do I need?

To rent here comfortably, you should earn about $54,920 a year. That is $26 an hour at a full-time job.

Is rent cheaper than other Rhode Island cities?

Yes. Rent here is cheaper than in most of Rhode Island. It is number 1 of 15 cities from cheapest to most expensive.

Wakefield-Peace Dale
$1,373
Cumberland Hill
$1,445
Greenville
$1,395
Tiverton
$2,132
Newport East
$2,518
Valley Falls
$1,474
Westerly
$1,608

How much do households earn in Wakefield-Peace Dale?

Under $25k
7.6%
$25k–50k
15.9%
$50k–100k
27.1%
$100k–150k
27.4%
$150k+
16.0%

Share of households by yearly income. 43.4% of households earn $100,000 or more.

Rent by apartment size in Wakefield-Peace Dale

SizeWakefield-Peace DaleU.S. average
Studio$1,174$1,338
1 bedroom$1,049$1,324
2 bedrooms$1,552$1,509
3 bedrooms$1,316$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Wakefield-Peace Dale overall?

Everyday prices in Rhode Island overall are 2% above the U.S. average (index 102.3, U.S. = 100).

Housing
106
Goods (food, clothes…)
97
Utilities
147
Other services
103
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Wakefield-Peace Dale, so the Rhode Island figure is shown.

Taxes and bills in Wakefield-Peace Dale

🏛️ Property tax$4,624a year · 0.94% of home value · U.S. $3,119
⚡ Electric bill$134a month (typical) · U.S. $156

Life in Wakefield-Peace Dale

Commute to work24 minU.S.: 26.4 min
College degree59.6%U.S.: 35.7%
Own their home66.3%U.S.: 65.2%
Below poverty line9.5%U.S.: 12.5%
Unemployment5.3%U.S.: 5.2%

Is it cheaper to rent or buy in Wakefield-Peace Dale?

Renting is cheaper right now: about $2,057 a month less.

Renting
$1,373
Owning
$3,430

Owning assumes a typical $494,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $49,440 for the down payment.

Frequently asked questions

What is the average rent in Wakefield-Peace Dale, RI?

Renting in Wakefield-Peace Dale costs a median of about $1,373 a month in 2026, including utilities. The Rhode Island median is $1,704.

How much do I need to make to live in Wakefield-Peace Dale?

To keep rent under 30% of income, you need about $54,920 a year, or $26 an hour at a full-time job.

Is Wakefield-Peace Dale cheap or expensive?

Wakefield-Peace Dale is rated Cheap: rent takes 14.3% of the typical household income of $114,915. It ranks 1st cheapest of 15 Rhode Island cities we track.

How much are property taxes in Wakefield-Peace Dale?

The median homeowner in Wakefield-Peace Dale pays $4,624 a year in property taxes, about 0.94% of the median home value.

Is Wakefield-Peace Dale more expensive than the national average?

Overall prices in Rhode Island are 2% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Wakefield-Peace Dale?

The median home value in Wakefield-Peace Dale is $494,400, about 4.3 times the typical yearly household income.

9,302 people live in Wakefield-Peace Dale. Numbers are typical (middle) values.