Warwick, RI—02888
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Warwick, RI
As of Nov '25, the median home price in Warwick, RI is $395,000, 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 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $395,000 | 2.4% |
| Single Family | $400,000 | 2.3% |
| Condos | $277,000 | 1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $264,000 | 1.1% |
2 Bed | $356,000 | 2.0% |
3 Bed | $412,000 | 2.2% |
4 Bed | $452,000 | 2.5% |
| 5 Bed | $534,478 | 1.7% |
% of Housing Stock
Rental Trends — Warwick, RI
As of July '25, Rentcast reports the average rent in Warwick, RI is $2,720, with a year-over-year rent change of -11.1%. Per bedroom, the median rent as of July '25 in Warwick, RI is studios: $1,950, 2-bedrooms: $2,440, 3-bedrooms: $3,410. The most common rental property sizes in Warwick, RI are 1-bedroom and 2-bedroom, accounting for 46.9% and 30.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,720 |
| Studio Rent | $1,950 | $1,950 |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,250 | $2,440 |
| 3 Bed Rent | $3,250 | $3,410 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Warwick, RI
As of Nov '25, Realtor.com reports that the median days on market for a home in Warwick, RI is 28. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $449,000 | 5.0% |
Listing Count | 62 | 19.0% |
| Listings as % of Homes | 0.4% | 19.0% |
Days on Market | 28 | 6.0% |
Demographics — Warwick, RI
As of the latest ACS Survey released in 2023, Warwick, RI has a population of 19,000, which has decreased by -1.1% over the past 5 years. Warwick, RI is a moderately popular place for families, as children make up 18.3% of the population. The area has a moderately educated workforce, with 32.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,000 | -1.1% |
% Under 18 | 18.3% | 10.2% |
% Seniors | 20.3% | 15.3% |
% WFH | 9.7% | 977.8% |
% w/ College Degree | 32.0% | 1.9% |
As of the latest ACS Survey released in 2023, Warwick, RI is a predominantly white area, with 81.3% of the population identifying as white. The white population has shrunk by 7.1% in the last 5 years. The second most common race or ethnicity in Warwick, RI is black, making up 6.4% of the population. Foreign-born residents account for 7.1% of the population in Warwick, RI, and this percentage has decreased by 2.7% 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 | 81.3% | -7.1% |
% Black | 6.4% | 255.6% |
% Hispanic | 5.9% | -7.8% |
% Asian | 1.7% | -37.0% |
% Foreign Born | 7.1% | -2.7% |
Mortgage and Risk — Warwick, RI
According to HUD data as of 2023, there were 527 mortgage originations in Warwick, RI, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Warwick, RI. Investor activity is low, as 0.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 527 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Rentals and Section 8 — Warwick, RI
Warwick, RI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 348 |
Total Units Section 8 | 184 |
% Rentals under Section 8 | 10.2% |
% Occupied Section 8 | 80.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,340 |
| 2 Bedroom | -$610 | $2,250 | $1,640 |
| 3 Bedroom | -$1,270 | $3,250 | $1,980 |
| 4 Bedroom | N/A | N/A | $2,400 |
Affordability — Warwick, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $395,000 |
| Median Household Income | $88,800 |