Warwick, RI—02886
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Warwick, RI
As of Oct '25, the median home price in Warwick, RI is $407,000, with a year-over-year change of 2.4%. This indicates that home prices in Warwick, RI are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $407,000 | 2.4% |
| Single Family | $416,000 | 2.2% |
| Condos | $335,000 | 1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $242,000 | 2.1% |
2 Bed | $355,000 | 1.1% |
3 Bed | $418,000 | 2.5% |
4 Bed | $582,000 | 3.2% |
| 5 Bed | $570,000 | 1.8% |
% of Housing Stock
Rental Trends — Warwick, RI
As of July '25, Rentcast reports the average rent in Warwick, RI is $2,250, with a year-over-year rent change of 4.2%. Per bedroom, the median rent as of July '25 in Warwick, RI is studios: $1,900, 1-bedrooms: $1,900, 2-bedrooms: $2,240, 3-bedrooms: $3,200, 4-bedrooms: $3,700. The most common rental property sizes in Warwick, RI are 1-bedroom and 2-bedroom, accounting for 51.6% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,160 | $2,250 |
| Studio Rent | $1,590 | $1,900 |
| 1 Bed Rent | $1,900 | $1,900 |
| 2 Bed Rent | $2,250 | $2,240 |
| 3 Bed Rent | $2,900 | $3,200 |
| 4 Bed Rent | $3,700 | $3,700 |
% of Rental Stock
Property Listings — Warwick, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Warwick, RI is 26. This is a decrease of -10.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $477,000 | 3.0% |
Listing Count | 109 | 30.0% |
| Listings as % of Homes | 0.4% | 30.0% |
Days on Market | 26 | -10.0% |
Demographics — Warwick, RI
As of the latest ACS Survey released in 2023, Warwick, RI has a population of 30,900, which has increased by 6.6% over the past 5 years. Warwick, RI is a moderately popular place for families, as children make up 18.9% of the population. The area has a moderately educated workforce, with 36.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,900 | 6.6% |
% Under 18 | 18.9% | 0.0% |
% Seniors | 21.1% | -0.9% |
% WFH | 11.1% | 226.5% |
% w/ College Degree | 36.6% | 4.0% |
As of the latest ACS Survey released in 2023, Warwick, RI is a predominantly white area, with 84.7% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Warwick, RI is hispanic, making up 5.0% of the population. Foreign-born residents account for 6.9% of the population in Warwick, RI, and this percentage has decreased by 19.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.7% | -2.6% |
% Black | 2.3% | 76.9% |
% Hispanic | 5.0% | -26.5% |
% Asian | 4.2% | 23.5% |
% Foreign Born | 6.9% | -19.8% |
Mortgage and Risk — Warwick, RI
According to HUD data as of 2023, there were 740 mortgage originations in Warwick, RI, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Warwick, RI. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 740 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Warwick, RI
As of 2024, the percent of homes in Warwick, RI under the Section 8 program is 24.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Warwick, RI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,315 |
Total Units Section 8 | 1,121 |
% Rentals under Section 8 | 24.7% |
% Occupied Section 8 | 93.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$360 | $1,900 | $1,540 |
| 2 Bedroom | -$360 | $2,250 | $1,890 |
| 3 Bedroom | -$620 | $2,900 | $2,280 |
| 4 Bedroom | -$940 | $3,700 | $2,760 |
Affordability — Warwick, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $407,000 |
| Median Household Income | $91,000 |