Westerly, RI

Average · 106

Rhode Island · Population 18,528 · Updated March 2026

$1,243
Median Rent / Month
$82,333
Median Income
$400,200
Median Home Value
$1,495
Owner Costs / Month

Affordability

How far your income goes in Westerly

18.1%
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

$14,916
Annual Rent
$4,932
State Income Tax
$6,123
Property Tax (est.)

Cost of Living Overview

Westerly is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 106 (where 100 equals the national median), Westerly residents can expect to pay median rent of $1,243/month while earning a median household income of $82,333/year.

The median home value in Westerly, RI is $400,200, with typical monthly owner costs around $1,495 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.1% 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 Westerly.

Frequently Asked Questions

Common questions about living costs in Westerly

What is the cost of living in Westerly, RI?
The cost of living index in Westerly, RI is 106 (US average = 100). Median monthly rent is $1,243, median household income is $82,333/year, and the median home value is $400,200.
Is Westerly, RI affordable?
No, Westerly is more expensive than the national average with a cost index of 106. The rent-to-income ratio is 18.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Westerly, RI?
The median gross rent in Westerly, RI is $1,243 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,916.
What is the median household income in Westerly?
The median household income in Westerly, RI is $82,333 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%.