| Index | Westerly | Rhode Island | National |
| Cost of living | 121 | 110 | 100 |
| Groceries | 107 | 103 | 100 |
| Health care | 109 | 103 | 100 |
| Housing | 151 | 124 | 100 |
| Transportation | 105 | 104 | 100 |
| Utilities | 107 | 106 | 100 |
| Lifestyle & Entertainment | 110 | 107 | 100 |
| Household Items | 103 | 105 | 100 |
| Education & Childcare | 113 | 106 | 100 |
The cost of living in Westerly affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Westerly is 121, which is 21% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
If you're in pursuit of an economical living environment, Westerly may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Westerly falls within this bracket.
When it comes to the cost of living in Westerly, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 51.4% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Westerly an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Westerly, the median home price is 69.5% higher than what most folks pay across the country, and monthly rent prices are 9.2% higher than the usual rates. Income levels in Westerly come in at $110,609, which is 36% higher than the national average.
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Westerly, the transportation index is 5.2% higher than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Westerly, the prevailing sales tax rate starts at 7%, and income tax rates kick off at 3.75%.
The Westerly cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $149,577 | $12,465 | $3,490 | $4,488 |
| Renters | $59,858 | $4,988 | $1,397 | $1,796 |
| State | General Sales Tax | With Max Surtax |
| Rhode Island | 7% | 7% |
| State | Income Tax (Low) | Income Tax (High) |
| Rhode Island | 3.75% | 5.99% |
| City | Population | Cost of Living Index | National Avg. |
| Fishers Island, NY | 63 | 107 | 7.4% |
| Hopkinton, RI | 628 | 102 | 2.1% |
| Poquonock Bridge, CT | 1,701 | 105 | 4.5% |
| Norwich, CT | 40,661 | 105 | 5.1% |
| New London, CT | 27,712 | 107 | 6.9% |
| Westerly, RI | 18,517 | 121 | 20.6% |
| City | Population | Cost of Living Index | National Avg. |
| Avon, IN | 18,517 | 104 | 3.8% |
| Russell, ON | 18,518 | n/a | |
| Sheridan, WY | 18,519 | 105 | 4.5% |
| Canby, OR | 18,522 | 126 | 25.9% |
| Dover, NJ | 18,528 | 121 | 21.0% |
| Westerly, RI | 18,517 | 121 | 20.6% |
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