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Global mean precipitation changes due to climate change were previously shown to be relatively small and well constrained by the energy budget. However, local precipitation changes can be much more significant. In this paper we propose that for large enough scales, for which the water budget is closed (precipitation [P] roughly equals evaporation [E]), changes in P approach the small global mean value. However, for smaller scales, for which P and E are not necessarily equal and convergence of water vapor still plays a role, changes in P could be much larger due to dynamical contributions. Using 40 years of two reanalysis data sets, 39 Coupled Model Intercomparison Project Phase 5 (CMIP5) models and additional numerical simulations, we identify the scale of transition in the importance of the different terms in the water budget to precipitation to be ~3,500–4,000 km and demonstrate its relation to the spatial scale of precipitation changes under climate change. Plain Language Summary: Predicting precipitation changes due to climate change is of great importance for society. We propose that the present‐day characteristic scale of the hydrological cycle (for which precipitation roughly equals evaporation) predicts the spatial scale of future precipitation changes under global warming. For smaller scales than the characteristic scale of the hydrological cycle, changes in precipitation could be much larger than the global mean change due to water vapor convergence contributions. However, above this scale the precipitation changes approach the relatively small global mean change. Using reanalysis data sets, Coupled Model Intercomparison Project Phase 5 (CMIP5) models, and additional numerical simulations, we identify the characteristic scale of the hydrological cycle to be ~3,500–4,000 km and demonstrate its relation to the spatial scale of precipitation changes under climate change. These results suggest that changes in precipitation on the regional‐continental scale could be much larger than the global mean change. Key Points: The present‐day characteristic scale of the hydrological cycle predicts the spatial scale of precipitation changes under climate changeUsing reanalysis data sets and CMIP5 models, we identify the characteristic scale of the hydrological cycle to be ~3,500–4,000 kmThese results suggest that changes in precipitation on the continental scale could be much larger than the global mean change [ABSTRACT FROM AUTHOR]