Quick facts: Warwick, RI

Quick Facts

110.3
Cost of Living
above US average
83,016
Population
14.82
Crime Rate per 1000
below US average
$81,009
Median Income
above US average
$474,900
Median House Price
above US average
$2298.09
Average Rent
above US average
7%
Poverty Rate
below US average
3.8%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $81,009.

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Income Needed to Buy

βœ— Stretch
$149k/year
Based on $474,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $149k vs median $81,009
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Income Needed to Rent

⚠ Stretch
$98k/year
Based on $2298.09/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $98k vs median $81,009
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Warwick, RI

Warwick, located in Rhode Island, is a diverse city known for its rich history and vibrant community. Situated approximately 12 miles south of Providence, Warwick is the second largest city in the state, boasting a population of around 82,000 residents. The city is characterized by its picturesque waterfront along Narragansett Bay, providing numerous opportunities for boating, fishing, and other outdoor activities. Warwick's history dates back to the 1600s, with Colonial remnants still visible in its historic districts. The city offers various attractions, including the Warwick City Park, which features trails, playgrounds, and picnic areas, and the Goddard Memorial State Park, known for its wide open spaces and horse trails. Shopping and dining options abound, particularly at the Rhode Island Mall and throughout the bustling Pawtuxet Village. Warwick is also home to several good schools and community organizations, contributing to its family-friendly atmosphere. Additionally, the city's close proximity to T.F. Green Airport makes it a convenient location for travelers. Warwick combines suburban living with easy access to urban amenities, making it a desirable place to reside in Rhode Island.

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