Kingston, Hope Valley, Cumberland Hill: These cities aren’t just some of the best places to live in Rhode Island. They are also home to some of the richest people in the Ocean State.
Kingston in particular houses the richest residents in the state thanks, in part, to a median household income of $108,056 and a ridiculously low poverty rate of 3.42156229825694%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in Rhode Island share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2018-2022 American Community Survey for the 18 places in Rhode Island with more than 2,000 people.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Richest Places In Rhode Island For 2024
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in Rhode Island.
Rich people not your cup of tea? Feel free to check out some more reading about Rhode Island:
The 10 Richest Cities In Rhode Island For 2024
1. Kingston
/10
Population: 6,560
Median Income: $108,056
Median Home Values: $570,961
More on Kingston: Data | Cost Of Living | Real Estate
2. Hope Valley
/10
Population: 2,209
Median Income: $93,888
Median Home Values: $546,063
More on Hope Valley: Real Estate
3. Cumberland Hill
/10
Population: 8,866
Median Income: $120,365
Median Home Values: $436,265
More on Cumberland Hill: Data | Cost Of Living | Real Estate
4. Newport East
/10
Population: 11,644
Median Income: $90,659
Median Home Values: $565,274
More on Newport East: Data | Cost Of Living | Real Estate
5. Newport
/10
Population: 25,087
Median Income: $81,330
Median Home Values: $827,429
More on Newport: Data | Crime | Cost Of Living | Real Estate
6. Westerly
/10
Population: 18,272
Median Income: $86,343
Median Home Values: $529,378
More on Westerly: Data | Crime | Cost Of Living | Real Estate
7. Narragansett Pier
/10
Population: 2,805
Median Income: $76,528
Median Home Values: $868,841
More on Narragansett Pier: Data | Real Estate
8. Valley Falls
/10
Population: 12,072
Median Income: $93,901
Median Home Values: $410,692
More on Valley Falls: Data | Cost Of Living | Real Estate
9. Greenville
/10
Population: 8,777
Median Income: $92,367
Median Home Values: $445,455
More on Greenville: Data | Cost Of Living | Real Estate
10. Tiverton
/10
Population: 8,101
Median Income: $86,102
Median Home Values: $477,304
More on Tiverton: Data | Crime | Cost Of Living | Real Estate
Methodology: How We Determined The Richest Places In Rhode Island For 2024
The first thing that comes to most people’s minds when they think about determining the richest places is simply identifying personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places.” So we looked at this set of criteria from the newly released 2018-2022 American Community Survey and applied Saturday Night Science:
- Median Home Values
- Median Household Income
Median household income is the most digestible way to understand how rich a place is. And home values are a measure of wealth. The two combine to define a “Rich City.”
After we collected the data for all 18 places with more than 2,000 people in Rhode Island, we ranked each place from 1 to 18 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a “Rich Score,” with the place having the lowest overall Rich Score, Kingston, crowned the “Richest City In Rhode Island For 2024.”
The data has been updated for 2024. This is our tenth time ranking the wealthiest cities in Rhode Island.
You can skip to the end to see the rankings for all 18 places.
Summary: The Wealthiest Places In Rhode Island For 2024
Like we said earlier, when we set out to identify the richest places in Rhode Island, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in Rhode Island.
The richest cities in Rhode Island are Kingston, Hope Valley, Cumberland Hill, Newport East, Newport, Westerly, Narragansett Pier, Valley Falls, Greenville, and Tiverton.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in Rhode Island, according to data:
Poorest: Central Falls
2nd Poorest: Woonsocket
3rd Poorest: Pawtucket
For more Rhode Island reading, check out:
- Best Places To Raise A Family In Rhode Island
- Safest Places In Rhode Island
- Cheapest Places To Live In Rhode Island
Detailed List Of The Richest Cities In Rhode Island
| Rank | City | RichScore | Median Income | Average Home Price |
|---|---|---|---|---|
| 1 | Kingston | 2.5 | $108,056 | $570,961 |
| 2 | Hope Valley | 5.0 | $93,888 | $546,063 |
| 3 | Cumberland Hill | 5.0 | $120,365 | $436,265 |
| 4 | Newport East | 5.5 | $90,659 | $565,274 |
| 5 | Newport | 6.5 | $81,330 | $827,429 |
| 6 | Westerly | 7.0 | $86,343 | $529,378 |
| 7 | Narragansett Pier | 7.0 | $76,528 | $868,841 |
| 8 | Valley Falls | 7.0 | $93,901 | $410,692 |
| 9 | Greenville | 7.0 | $92,367 | $445,455 |
| 10 | Tiverton | 8.0 | $86,102 | $477,304 |
| 11 | Pascoag | 8.0 | $97,064 | $374,050 |
| 12 | Cranston | 10.5 | $83,123 | $392,034 |
| 13 | East Providence | 13.0 | $71,736 | $381,790 |
| 14 | Warwick | 13.5 | $81,009 | $364,360 |
| 15 | Providence | 15.0 | $61,365 | $365,946 |
| 16 | Pawtucket | 15.5 | $62,799 | $343,911 |
| 17 | Woonsocket | 17.0 | $54,398 | $338,485 |
| 18 | Central Falls | 18.0 | $43,092 | $313,807 |