F
Overall 14%
Goods & Services 19%
Housing 9%
Date & Last Updated: This data reflects 2020 and was released from C2ER in January, 2021; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
IndexWarwickRhode IslandNational
Cost of living114117100
Goods & Services119119100
Groceries110110100
Health care107107100
Housing109120100
Transportation106106100
Utilities126126100

Key findings

  • The cost of living in Warwick is 3% lower than the Rhode Island average
  • The cost of living in Warwick is 14% higher than the national average
  • Warwick housing is 9% higher than the national average
  • Rhode Island general sales tax is 37% higher than the national average
  • Rhode Island state income tax is 52% higher than the national average

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Compare Warwick, RI Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$80,383$6,699$1,875$2,412
      Renters$40,674$3,390$949$1,220
      The affordability of the housing market in Warwick, RI as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Warwick homeowners, the median income is $80,383. This indicates that a monthly maximum of $1,875 should be spent by homeowners on all housing related costs. Renters have a median income of $40,674. This indicates that renters would have a maximum of $949 for their rent related monthly costs.

      Rhode Island Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Rhode Island7%7%

      Rhode Island Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Rhode Island3.75%5.99%

      Goods & Services

      ItemWarwickNational avg.Difference
      Haircut $24.44$18.6231.2%
      Beauty Salon $48.53$39.0524.3%
      Toothpaste $2.53$2.347.9%
      Shampoo $0.96$1.069.5%
      Movie $12.75$10.6819.3%
      Bowling $19.67$14.6734.1%

      Groceries

      ItemWarwickNational avg.Difference
      Ground Beef $3.82$4.229.4%
      Fried Chicken $1.75$1.3926.5%
      Milk $2.52$2.0523.1%
      Potatoes $4.11$3.2924.9%
      Pizza $10.49$10.621.3%
      Beer $10.32$9.3810.0%

      Health Care

      ItemWarwickNational avg.Difference
      Optometrist $131.39$108.5721.0%
      Doctor $157.87$116.1735.9%
      Dentist $92.75$99.136.4%
      Ibuprofen $9.76$9.680.8%
      Lipitor $408.27$466.9212.6%

      Housing

      ItemWarwickNational avg.Difference
      Home Price $195,700.00$184,700.006.0%
      Avg. Mortgage Payment $1,438.35$1,197.4220.1%
      Apartment Rent $1,091.00$949.0015.0%

      Transportation

      ItemWarwickNational avg.Difference
      Gasoline $2.15$2.223.5%
      Tire Balancing $62.00$50.0723.8%

      Utilities

      ItemWarwickNational avg.Difference
      All Electricity$240.57$167.6743.5%
      Phone $189.01$175.647.6%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City, StatePopulationCost of Living IndexNational Avg.
      Wyoming, RI1961066%
      Central Falls, RI19,3661066%
      Pawtucket, RI71,3891088%
      Providence, RI178,8511099%
      East Providence, RI47,26011313%
      Warwick, RI81,88111414%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Longview, TX82,18488-12%
      Mission, TX82,20078-22%
      Westland, MI82,21892-8%
      Merced, CA81,46199-1%
      Town 'n' Country, FL82,55495-5%
      Warwick, RI81,88111414%
      Source: The Warwick, RI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2020.