Rhode Island’s Economic Prosperity Scorecard
Rhode Island’s Economic Prosperity Scorecard provides a data-driven snapshot of the financial well-being of the state’s residents and the health of its economy.
Utilizing a set of widely used federal economic data, the Scorecard compares Rhode Island to the U.S. overall and to other states, with a particular focus on neighboring states in New England. It also analyzes these metrics over time to draw comparisons over the most recently available five- and ten-year periods.
The value and ranking of each economic prosperity measure is available in an interactive 50-state map that allows users to explore and compare the data themselves.
Key Findings
- Rhode Island is positioned positively in the top half of states in median household income, ranking 17th highest in 2024 and exceeding the U.S. average by 2%.
- In comparison, Rhode Island’s personal income per capita, which includes a broader definition of income, ranked six spots lower (23rd) and fell 4% below the U.S. average.
- The Ocean State’s relative position falls further once cost of living is considered. In 2024, Rhode Island ranked 30th in real personal income per capita, which incorporates the regional cost of goods and services, including sales taxes and residential property taxes. Rhode Island ranked in the bottom third of states (36th) in real disposable personal income per capita, which accounts for additional taxes and fees, primarily federal, state, and local income taxes.
- Compared to other states, Rhode Island fares poorly with respect to measures of economic output, ranking 35th in both gross domestic product (GDP) per capita and labor force productivity in 2024.
- For every measure except median household income, Rhode Island’s rank among states has fallen since 2014, with the biggest drops in labor force productivity (-14 spots), real disposable personal income per capita (-8), and GDP per capita (-7).
- For every measure, Rhode Island’s growth rate between 2014 and 2024 considerably lagged the U.S., with the state’s GDP per capita and labor force productivity marking the largest gap—growing at less than half the U.S. rate.
