NAICS 52

Finance and Insurance in Providence-Warwick, RI

Metro Market Score 66.0 (Difficult), ranked #273 of 331 metros. 2,564 establishments, 27,056 jobs.

Metro Market Score 66.0

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Difficult

ⓘ Lower is better. Relative to national finance and insurance average.

💰High-Cost Market

Providence-Warwick scores 66.0 on the Metro Market Score for finance and insurance, placing it in the bottom quartile. High wage costs, strong existing competition, or slowing growth contribute to tougher entry conditions compared to most metros.

Industry Concentration

83.4

LQ: 0.94

Rank #276 of 331 metros

Wage Competitiveness

82.8

$111,459 avg wage

Growth Trend

48.3

Employment growth index

Rank #172 of 331 metros

Wage Pressure

45.0

YoY wage change index

2,564 Finance and Insurance Firms in Providence-Warwick

2,564

Establishments

+1.4% YoY

27,056

Total Employment

-0.9% YoY

$111,459

Average Annual Wage

+5.8% YoY

0.94

Location Quotient

Below national avg

Within Rhode Island

#1 of 1

finance and insurance metros in state

Rhode Island state rank

#4 of 51

for finance and insurance entry risk

vs State Median

0.0

matches median (66.0)

Providence-Warwick vs Rhode Island Statewide

How this metro's finance and insurance market compares to Rhode Island overall. The state ranks #4/51 for entry risk.

Measure	Providence-Warwick	RI Statewide
Overall Score	66.0 Difficult	41.9 Moderate
Score Type	Metro Market Score	Entry Risk Score
Rank	#273 of 331 metros	#4 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Providence-Warwick

Real Estate and Rental and Leasing 53.5 Healthcare and Social Assistance 53.9 Professional, Scientific, and Technical Services 55.1 Other Services 57.7 Retail Trade 61.1 Information 61.6 Accommodation and Food Services 63.2 Administrative and Support Services 65.3

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Providence-Warwick's 66.0 score. Useful when comparing markets with comparable entry profiles.

Reading, PA 65.6 #272/331 Boise City, ID 65.4 #271/331 Tampa-St. Petersburg-Clearwater, FL 66.8 #274/331 Appleton, WI 65.1 #270/331 Harrisburg-Carlisle, PA 67.0 #275/331 Phoenix-Mesa-Chandler, AZ 67.0 #276/331 Birmingham, AL 67.1 #277/331 Evansville, IN 67.2 #278/331 Akron, OH 67.2 #279/331 Dallas-Fort Worth-Arlington, TX 64.7 #269/331

Finance and Insurance in States Bordering Rhode Island

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

Massachusetts 48.2 #15/51 Connecticut 73.7 #51/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Providence-Warwick's finance and insurance sector, the industry concentration component (83.4) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Providence-Warwick, RI-MA MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment