Is it cheaper to live in Providence or Santa Fe?

They're close. Providence, RI runs about $1,310 a month and Santa Fe, NM about $1,310 (1BR rent + utilities) — within a few percent of each other.

How much more do you need to earn to live in Providence than in Santa Fe?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $41,000 a year in Providence versus $47,000 in Santa Fe.

Which has lower taxes, Providence or Santa Fe?

Providence is taxed under Rhode Island's rules (a top state income tax rate of 5.99% and a 7% state sales tax); Santa Fe under New Mexico's (a top state income tax rate of 5.90% and a 4.875% state sales tax).

Providence vs Santa Fe Cost of Living 2026

Providence

Rhode Island

$1,310/mo est.

Santa Fe

New Mexico

$1,310/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,310 in Providence, RI versus $1,310 in Santa Fe, NM. The two are close overall, within a few percent of each other.

Median household income is $66,772 in Providence, RI and $70,110 in Santa Fe, NM — about 5% higher in Santa Fe, NM. Rhode Island has a top state income tax rate of 5.99% and a 7% state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.

Providence, RI

Santa Fe, NM

Rent

Studio

$1,116

$969

+13% in Providence, RI

1 Bedroom

$1,030

$1,167

+13% in Santa Fe, NM

2 Bedroom

$1,323

$1,559

+18% in Santa Fe, NM

3 Bedroom

$1,627

$1,733

+7% in Santa Fe, NM

Buying a Home

Median Home Value

$322,800

$411,500

+27% in Santa Fe, NM

Income

Median Household Income

$66,772

$70,110

+5% in Santa Fe, NM

Metro Median Wage (annual)

$53,680

$48,710

+9% in Providence, RI

People & Lifestyle

Median Age

32.9 yr

46.4 yr

+13.5 yr in Santa Fe, NM

Homeownership

41.2%

62.8%

+21.6 pp in Santa Fe, NM

Bachelor's+ (25+)

34.7%

45.4%

+10.7 pp in Santa Fe, NM

Avg Commute

25.0 min

20.2 min

+4.8 min in Providence, RI

Crime (per 100k/yr)

Violent Crime

282.4

843.3

+199% in Santa Fe, NM

Property Crime

1,665.6

5,189

+212% in Santa Fe, NM

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature

51.6°F

51.9°F

+0.3°F in Santa Fe, NM

Annual Precipitation

47.2 in

13.5 in

+33.7 in in Providence, RI

Gas

Regular Gasoline

$3.86/gal

$3.62/gal

+6% in Providence, RI

Area: East Coast (PADD 1) vs Gulf Coast (PADD 3).

Utilities

Electricity (¢/kWh)

29.5

14.1

+52% in Providence, RI

Natural Gas ($/MCF)

$16.06

$11.90

+26% in Providence, RI

Residential, state-level averages (EIA). MCF = 1,000 cubic feet.

Groceries

Milk (gal)

$4.31

$4.82

+12% in Santa Fe, NM

Bread (lb)

$1.92

$2.04

+6% in Santa Fe, NM

Eggs (doz)

$2.19

about equal

Ground Beef (lb)

$6.90

$7.36

+7% in Santa Fe, NM

Chicken (lb)

$2.19

$2.01

+8% in Providence, RI

Bananas (lb)

$0.69

$0.70

about equal

Average prices — Northeast vs West (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (RI / NM)

4.875%

+2.1 pp in RI

Income Tax (top rate)

5.99%

5.90%

+0.1 pp in RI

Providence vs Santa Fe — FAQ

Is it cheaper to live in Providence or Santa Fe?: They're close. Providence, RI runs about $1,310 a month and Santa Fe, NM about $1,310 (1BR rent + utilities) — within a few percent of each other.
How much more do you need to earn to live in Providence than in Santa Fe?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $41,000 a year in Providence versus $47,000 in Santa Fe.
Which has lower taxes, Providence or Santa Fe?: Providence is taxed under Rhode Island's rules (a top state income tax rate of 5.99% and a 7% state sales tax); Santa Fe under New Mexico's (a top state income tax rate of 5.90% and a 4.875% state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).