Salary Needed to Live in Providence as a Retiree
A retired individual (65+) needs approximately $23,122/year to live comfortably in Providence, RI — including 5% savings.
Comfortable Salary
$23,122
with 5% savings
Bare Minimum
$21,517
no savings buffer
Monthly Expenses
$1,291
5% above national avg
Detailed Monthly Budget for a Retiree in Providence
| Expense | Providence | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $148 | $121 | +22% |
| 🛒 Groceries | $19 | $16 | +19% |
| ⚡ Utilities | $15 | $15 | 0% |
| 🚗 Transportation | $18 | $18 | 0% |
| 🛡️ Car Insurance | $212 | $229 | -7% |
| 🏥 Health Insurance | $47 | $58 | -19% |
| Medicare Supplement | $216 | $200 | +8% |
| Prescription Drugs | $162 | $150 | +8% |
| Internet + Phone | $130 | $120 | +8% |
| Recreation & Social | $216 | $200 | +8% |
| Home Maintenance | $108 | $100 | +8% |
| Total Monthly | $1,291 | $1,227 | +5% |
How We Calculated the Salary
Monthly expenses:$1,291
Target savings (5%):$73/mo
Monthly after-tax needed:$1,364
Effective tax rate:28%
Gross annual salary needed:$23,122
Other Household Types in Providence
Related Pages
FAQ
What salary does a retiree need in Providence?
A retiree needs approximately $23,122/year ($1,927/month gross) to live comfortably in Providence with a 5% savings rate.
How much is rent for a retiree in Providence?
A 1-2br senior-friendly in Providence costs approximately $148/month, which is the largest single expense at 11% of the total budget.
Is Providence affordable for a retiree?
Providence is roughly average for retiree costs, requiring a salary close to the national median.