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  1. Home
  2. /Browse ZIP Codes
  3. /Rhode Island
  4. /Warwick, RI - 02888

Warwick, RI—02888

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$422,000
3.4% YoY Growth
Household Income
$88,800
20.6% YoY Growth
Days on Market
26
35.0% Longer YoY
Home Price Forecast
2.8%
Median Rent
$2,500
11.1% YoY Growth
1-Bed Rent
N/A
N/A
2-Bed Rent
$2,250
7.0% YoY Growth
3-Bed Rent
$3,250
19.6% YoY Growth

Other Zip Codes in Warwick, RI

0288902886
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Warwick, RI

As of May '26, the median home price in Warwick, RI is $422,000, with a year-over-year change of 3.4%. This indicates that home prices in Warwick, RI are increasing. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$422,0003.4%
Single Family $428,0003.6%
Condos $283,000-0.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $271,000
    -1.1%
    2 Bed
    		$379,0003.6%
    3 Bed
    		$439,0003.1%
    4 Bed
    		$483,0003.2%
    5 Bed $566,2951.8%
    Loading chart...

    % of Housing Stock

    Studio
    2.8%
    1 Bedroom
    12.4%
    2 Bedrooms
    28.9%
    3 Bedrooms
    44.7%
    4 Bedrooms
    9.3%
    5+ Bedrooms
    1.9%

    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.

    TypeMedian RentAverage Rent
    Average Rent$2,500$2,720
    Studio Rent $1,950$1,950
    1 Bed Rent N/AN/A
    2 Bed Rent $2,250$2,440
    3 Bed Rent $3,250$3,410
    4 Bed Rent N/AN/A
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    % of Rental Stock

    Studio
    10.4%
    1 Bedroom
    46.9%
    2 Bedrooms
    30.4%
    3 Bedrooms
    8.0%
    4 Bedrooms
    4.3%

    Property Listings — Warwick, RI

    As of May '26, Realtor.com reports that the median days on market for a home in Warwick, RI is 26. This is a increase of 35.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$430,0007.0%
    Listing Count
    		54-1.0%
    Listings as % of Homes0.4%-1.0%
    Days on Market
    		2635.0%
    Loading chart...

    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.

    MetricLatest CensusYoY % 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%
    Loading chart...

    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

    MetricLatest Census5-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%
    Loading chart...

    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

    MetricZip 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%
    Loading chart...
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$1,340
    2 Bedroom-$610$2,250$1,640
    3 Bedroom-$1,270$3,250$1,980
    4 BedroomN/AN/A$2,400

    Affordability — Warwick, RI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.9
    Median Home Price$422,000
    Median Household Income$88,800

    Warwick, RI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Cranston, RI

    02910

    Providence, RI

    02905

    Warwick, RI

    02889

    Providence, RI

    02907

    Cranston, RI

    02920

    Frequently Asked Questions