Cost of Living in Warwick, RI
Housing
The housing market plays a significant role in determining the cost of living in Warwick, RI.
- Housing Index: 115.0 / 100
- Median Home Price is: $368000
- Average Rent (2 BR Apartment): $2200 per month
- Average Rent (2 BR House): $2240 per month
When considering a move to Warwick, RI, the current housing data indicates a housing index of 115.0, suggesting a competitive market. The median home price stands at 368000, which may be higher than some regions but reflects the local demand. Renting could also be an option, with an average rent of 2200 for a 2-bedroom apartment and 2240 for a 2-bedroom house. Evaluating your financial readiness and lifestyle preferences will be crucial in making this decision. Keep in mind, emerging job opportunities or amenities could further influence your choice.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Warwick, RI.
- Electricity Price: $27.03 USD (median by state)
- Natural Gas Price: $21.52 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Warwick, RI could entail higher utility costs. Electricity costs sit at $27.03, while natural gas is priced at $21.52 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Warwick is a financially viable option for your relocation.