Total monthly cost of ownership
Cost to Own a Home in Warwick, Rhode Island
A $322,000 home here costs
$2,773per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,655. The real number is $1,117 higher every month — 68% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Warwick against Kent County and Rhode Island
| Measure | Warwick | Kent County |
|---|---|---|
| Median home value | $322,000 | $333,900 |
| Median property tax | $4,571 | $4,903 |
| Effective tax rate | 1.420% | 1.468% |
| Median gross rent | $1,299 | $1,264 |
| Population | 82,871 | 170,658 |
The weather behind that power bill
Warwick sits in Kent County, which averages a high of 85.0°F in its hottest month and a low of 18.4°F in its coldest, with 51.96" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 750 cooling and 5,987 heating degree days, which is what sets the $265 electricity line above.
See the full climate breakdown for Kent County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kent County
Full Kent County cost breakdown · Every county in Rhode Island
Common questions
How much does it cost to own a home in Warwick?
A $322,000 home in Warwick, Rhode Island costs approximately $2,773 per month with 20% down at 6.66%. That is $1,655 principal and interest, $381 property tax, $135 homeowners insurance, $333 utilities and $268 set aside for maintenance.
What is the property tax rate in Warwick?
Warwick has an effective property tax rate of 1.420%, based on a median home value of $322,000 and median real estate taxes of $4,571. That is lower than the Kent County average of 1.468%.
What is the average home price in Warwick?
The median owner-occupied home value in Warwick, Rhode Island is $322,000, against $333,900 across Kent County.
Is it cheaper to rent or buy in Warwick?
Median gross rent in Warwick is $1,299 a month, against $2,773 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Warwick — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Rhode Island.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.