Home Values in Warwick, Rhode Island — 2026 Market Report
Updated March 2026 | Buyer's Market | +3.6% YoY
The median home value in Warwick, Rhode Island is $325,000 as of March 2026, which is below the national median of $400,000. Home values in Warwick have increased by 3.6% over the past year and 19.3% over the last five years. With a population of 82,823 and a median household income of $62,250, the price-to-income ratio stands at 5.2x, making Warwick affordable for the average household.
Warwick Housing Market Conditions
| Metric | Warwick | National Avg |
|---|---|---|
| Median Home Value | $325,000 | $400,000 |
| YoY Appreciation | +3.6% | +3.8% |
| 5-Year Appreciation | +19.3% | +22.4% |
| Price per Sq Ft | $124 | $222 |
| Days on Market | 51 days | 45 days |
| Months of Supply | 5.5 | 3.5 |
| List-to-Sale Ratio | 98.3% | 98.5% |
| Monthly Homes Sold | 57 | — |
| Foreclosure Rate | 0.8% | 0.3% |
Home Value Trends in Warwick
A homeowner who purchased at the median price of $272,422 five years ago in Warwick would have gained approximately $52,578 in equity, representing a 19.3% return on investment. Over the past year alone, the typical homeowner gained $11,293 in home equity.
Affordability in Warwick, RI
With a median household income of $62,250 and a median home price of $325,000, the price-to-income ratio in Warwick is 5.2x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,131 compared to estimated monthly ownership costs of $1,985 gives a rent-vs-buy ratio of 0.93. In Warwick, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Warwick
The effective property tax rate in Rhode Island is 1.63%. On a home valued at $325,000, the estimated annual property tax bill is $5,298, or approximately $442/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Warwick is 105.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Warwick, RI?
The median home value in Warwick, Rhode Island is $325,000 as of March 2026. Home values have changed +3.6% over the past year, with a 5-year appreciation of 19.3%.
Is Warwick a buyer's or seller's market?
Warwick is currently a buyer's market with 5.5 months of housing supply. Homes spend an average of 51 days on market, and the list-to-sale price ratio is 98.3%. Higher inventory gives buyers more negotiating power.
Are home values going up in Warwick?
Yes, home values in Warwick have increased by 3.6% over the past year. The 5-year appreciation rate is 19.3%, meaning a home worth $272,422 five years ago is now worth $325,000.
Is it better to rent or buy in Warwick?
The average monthly rent in Warwick is $2,131, while estimated monthly homeownership costs are approximately $1,985. The price-to-rent ratio is 12.7. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Warwick, Rhode Island is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.