Warwick, RI

Average · 100

Rhode Island · Population 82,871 · Updated March 2026

$1,299
Median Rent / Month
$87,536
Median Income
$322,000
Median Home Value
$1,587
Owner Costs / Month

Affordability

How far your income goes in Warwick

17.8%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Rhode Island

State-level tax rates that affect your costs

5.99%
Income Tax (Top Rate)
7.0%
Sales Tax
1.53%
Property Tax Rate

Estimated Annual Costs

$15,588
Annual Rent
$5,243
State Income Tax
$4,927
Property Tax (est.)

Cost of Living Overview

Warwick has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 100 (where 100 equals the national median), Warwick residents can expect to pay median rent of $1,299/month while earning a median household income of $87,536/year.

The median home value in Warwick, RI is $322,000, with typical monthly owner costs around $1,587 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.8% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Rhode Island has a moderate income tax rate of 5.99%. Combined with a 7.0% sales tax rate and 1.53% effective property tax rate, the overall tax environment is a factor in the total cost of living in Warwick.

Frequently Asked Questions

Common questions about living costs in Warwick

What is the cost of living in Warwick, RI?
The cost of living index in Warwick, RI is 100 (US average = 100). Median monthly rent is $1,299, median household income is $87,536/year, and the median home value is $322,000.
Is Warwick, RI affordable?
No, Warwick is more expensive than the national average with a cost index of 100. The rent-to-income ratio is 17.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Warwick, RI?
The median gross rent in Warwick, RI is $1,299 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,588.
What is the median household income in Warwick?
The median household income in Warwick, RI is $87,536 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Rhode Island?
Rhode Island has a top income tax rate of 5.99%, a sales tax of 7.0%, and an effective property tax rate of 1.53%.