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This question is about Woonsocket, RI.
What is a good salary in Woonsocket, RI?
A good salary in Woonsocket, RI is anything over $51,000. That's because the median income in Woonsocket is $51,000, which means if you earn more than that you're earning more than 50% of the people living in Woonsocket. The average salary in Woonsocket is $57,023.
A good hourly wage in Woonsocket is $24.52 per hour. That works out to a good weekly wage of $980 per week and a good monthly wage of $4,250 per month. However, using the median income is only one way to calculate a good salary in Woonsocket.
Another way to calculate a good salary in Woonsocket is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $173,300, a good salary in Woonsocket would be $34,660.
Lastly, we can determine a good salary in Woonsocket by looking at the cost of living and comparing it to the US average salary. The cost of living in Woonsocket is 7% higher than than the national average. The national average salary is $56,310, so a good salary in Woonsocket is anything over $60,251 by this measure.
Average Annual Salary in Woonsocket, RI
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $28,000 | $2,333 | $538 | $13.46 |
| 25th | $37,000 | $3,083 | $711 | $17.79 |
| Median | $51,000 | $4,250 | $980 | $24.52 |
| 75th | $69,000 | $5,750 | $1,326 | $33.17 |
| 90th | $92,000 | $7,666 | $1,769 | $44.23 |
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