Cost of Renting in Chepachet, Rhode Island
Rental market data powered by HUD Fair Market Rents and Census ACS.
Rent Overview
Median Monthly Rent
$1,011
Median Household Income
$92,228
Population
1,755
Affordability
Chepachet: 19.8% rent burden, below the 30% affordability threshold.
Rent Burden
19.8%
% of household income spent on rent
Vacancy Rate
4.0%
Renter-Occupied
20.8%
% of housing units
How Chepachet Compares
Chepachet vs Rhode Island avg vs National avg
Median Rent
$1,011
Median Income
$92,228
Rent Burden
19.8%
Renting in Chepachet
The median rent in Chepachet, Rhode Island is typically $1,011 per month, while the median household income is approximately $92,228. This means the typical renter spends approximately 19.8% of their income on rent. (Source: Census ACS)
Housing experts generally consider rent affordable when it accounts for no more than 30% of gross income. At 19.8% rent burden, Chepachet is generally considered very affordable. Renters earning less than the median income may face higher housing cost pressure. (Source: HUD affordability guidelines)
Chepachet has a population of approximately 1,755 with a rental vacancy rate of 4.0%, suggesting a tight rental market with limited availability. (Source: Census ACS)
HUD Fair Market Rents
Official HUD Fair Market Rent for the area. Used to set Section 8 voucher amounts.
| Bedrooms | Fair Market Rent |
|---|---|
| Studio | N/A |
| 1 Bedroom | N/A |
| 2 Bedroom | N/A |
| 3 Bedroom | N/A |
| 4 Bedroom | N/A |
Rent by Bedroom
Detailed bedroom-level rent data for Chepachet is not available in the current HUD release.
Can You Afford Chepachet?
of income
Generally Affordable
The median rent in Chepachet is typically $1,011/month. The typical household earns $92,228/year, spending approximately 13.2% of income on rent.
Based on the 30% rule, you would generally need at least $40,440/year to afford the median rent without being cost-burdened.
Based on the median rent of $1,011, you would typically need an annual gross income of at least $40,440 to keep rent at or below 30% of your income. (Source: Census ACS)
How Chepachet Compares
Rent in Chepachet is 18% lower than the Rhode Island average of approximately $1,226. (Source: Census ACS) Compared to the national average, rent in Chepachet is 26% lower than the national median of approximately $1,365. Keep in mind that income levels also vary by location, so raw rent comparisons may not fully reflect relative affordability. (Source: Census ACS)
Other Cities in Rhode Island
Cost of Living Context
Rent is typically the largest single expense for most households, generally accounting for 30-40% of total living expenses. Other significant costs include transportation, food, healthcare, and taxes, which vary considerably by location. A city with lower rent but higher transportation costs may not be more affordable overall. Consider using our cost of living calculator to compare total expenses between cities.
What This Data Does Not Cover
This data reflects area-wide statistics and may not represent specific neighborhoods, buildings, or lease terms. Median rent captures the midpoint of the market: approximately half of rentals are above this price and half below. HUD Fair Market Rents are updated annually and represent the 40th percentile of rents in the area, so they may lag current market conditions in rapidly changing markets. Actual rents vary significantly by neighborhood, building age, amenities, and lease terms. We present this data for informational purposes to help with research, not as a guarantee of what you will pay.
Data Sources
**Data Sources:** - U.S. Census Bureau American Community Survey (ACS) 5-Year Estimates - U.S. Department of Housing and Urban Development (HUD) Fair Market Rents
Data is updated periodically. Census ACS data reflects 5-year estimates. HUD Fair Market Rents are updated annually. BLS rent CPI is updated monthly.
StayRentals is not a real estate agent, landlord, or property manager. This content is for educational and informational purposes only. Rent estimates are based on government data and may not reflect current market conditions. Housing laws vary by state and municipality. Consult a local tenant rights organization or attorney for advice specific to your situation.
Sources: U.S. Department of Housing and Urban Development (HUD) Fair Market Rents, U.S. Census Bureau American Community Survey (ACS) 5-Year Estimates, Bureau of Labor Statistics (BLS) Consumer Price Index.
Data vintage: HUD FMR FY 2025, Census ACS 2019–2023 5-Year Estimates, BLS CPI updated monthly. Government data may lag 1–2 years behind current market conditions.