Warwick, Rhode Island Real Estate & Housing Market

Warwick, RI Listings

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Warwick Housing Information

Index	Warwick	Rhode Island	National
Median home price	$195,700	$238,200	$184,700
Median rent asked	$1,091	$938	$949
Avg. people per household	2.2	2.4	2.6
Owner occupied households	70.7%	59.7%	63.6%
Renter occupied households	29.3%	40.3%	36.4%

Above, you will see a summary of real estate in Warwick, RI. On average, homes in Warwick, RI cost $195,700, a value that is 18% lower than the average in Rhode Island. In general terms, this results in Warwick, RI real estate being more affordable than Rhode Island real estate. On average, people who rent houses in Warwick, RI pay $1,091; this value is 16% higher than the average amount renters pay in Rhode Island. 70.7% of Warwick, RI residents own their own homes and, on average, each of the homes has 2.2 occupants. Warwick, RI real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Warwick, RI is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Warwick Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Warwick, RI. To estimate home affordability, one method is to use the ratio of home price to median household income. The Warwick, RI’s median home price stands at $195,700 while $66,602 is the value of the average household income. The resulting home price to income ratio, which is 2.9x, differs from the Rhode Island average as the ratio is 28% lower than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Warwick, RI are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Warwick, RI.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Melville, RI	1,370	$0	100%
Wyoming, RI	196	$0	100%
Central Falls, RI	19,366	$153,900	17%
Pawtucket, RI	71,389	$169,000	9%
Providence, RI	178,851	$173,800	6%
Warwick, RI	81,881	$195,700	6%

Cities with similar population

City, State	Population	Home Price	National Avg.
Longview, TX	82,184	$129,900	30%
Mission, TX	82,200	$97,000	47%
Westland, MI	82,218	$96,700	48%
Merced, CA	81,461	$170,500	8%
Town 'n' Country, FL	82,554	$136,300	26%
Warwick, RI	81,881	$195,700	6%

Source: The Warwick, RI housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).