Mortgage Rates in West Warwick, Rhode Island — March 2026
Updated March 2026 | Based on West Warwick market data and regional lending conditions
West Warwick is a growing city in Rhode Island with a population of 29,078. The current 30-year fixed mortgage rate in West Warwick is 6.83%, which is 0.18% above the national average. With a median home price of $371,000 and a 20% down payment of $74,200, homebuyers can expect a monthly principal and interest payment of approximately $1,941.
Current Mortgage Rates in West Warwick, RI
Below are the current average mortgage rates available in the West Warwick area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.83% | 6.65% | +0.18% |
| 15-Year Fixed | 6.05% | 5.89% | +0.16% |
| 5/1 ARM | 6.3% | 6.15% | +0.15% |
| FHA | 6.54% | 6.25% | +0.29% |
| VA | 6.29% | 6.05% | +0.24% |
| Jumbo | 7.08% | 6.85% | +0.23% |
West Warwick Housing Market Overview
The West Warwick housing market reflects moderate demand with prices near the national average. The median household income in West Warwick is $71,100, and the cost of living index is 95.6 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $105,171 to comfortably afford the median-priced home in West Warwick, which exceeds the current median household income.
Monthly Payment Breakdown for West Warwick
Based on the median home price of $371,000 with 20% down ($74,200), here is what you can expect to pay monthly in West Warwick:
15-Year vs. 30-Year Mortgage in West Warwick
Choosing a 15-year mortgage in West Warwick at 6.05% instead of a 30-year at 6.83% would save you $246,420 in total interest over the life of the loan. However, your monthly payment would be $2,513 instead of $1,941 — an increase of $572 per month.
Calculate Your West Warwick Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in West Warwick
What are the current mortgage rates in West Warwick, RI?
As of March 2026, the average 30-year fixed mortgage rate in West Warwick, Rhode Island is 6.83%, while the 15-year fixed rate is 6.05%. FHA loans average 6.54% and VA loans 6.29%. These rates are 0.18% above the national average of 6.65%.
How much is a monthly mortgage payment in West Warwick?
Based on the median home price of $371,000 with 20% down, the estimated monthly mortgage payment in West Warwick is $1,941 for principal and interest. Including property taxes of $513/month, the total monthly housing cost is approximately $2,454.
What income do I need to buy a home in West Warwick?
Using the 28% rule, you would need an annual income of approximately $105,171 to afford the median-priced home in West Warwick at $371,000. The median household income in West Warwick is $71,100. This means most households would need to either earn above the median or consider homes below $371,000.
Is West Warwick a good place to buy a home in 2026?
West Warwick offers a below-average cost of living with a cost of living index of 95.6 (national average = 100). The property tax rate in Rhode Island is 1.66%, which is above the national average. West Warwick has a population of 29,078 and offers a balanced lifestyle.
Mortgage Rates in Other Rhode Island Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the West Warwick, Rhode Island area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.