Rent to own Homes in Warwick, RI
Warwick, Rhode Island, is an ideal city to make your home. A large park, a small beach and a collection of cozy villages give the city the feel of a small community, while the airport and train station make it easy to connect with the rest of the world. Crime rates are relatively low, considering its population of over 80,000 people, and the Warwick Public Schools system is well-regarded throughout the state. The city has endless shopping options, including the popular Warwick Mall. In fact, people come from all over for major purchases, as the city has major car dealers, appliance stores and discount retailers in one area.
Warwick, RI is a great place for affordable rent-to-own homes! With a median household income of over $73,285 and a median rent of $1,168, the Warwick, RI rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Warwick, RI. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Warwick, RI Property Resources
Rent to own Homes in Cities Near Warwick, RI
- Attleboro
- Blackstone
- Central Falls
- Chepachet
- Clayville
- Cranston
- Douglas
- East Providence
- Fall River
- Foster
- Foster Center
- Foxborough
- Franklin Town
- Greene
- Greenville
- Harmony
- Hope
- Hope Valley
- Jamestown
- Johnston
- Kingston
- Manville
- Mapleville
- Medway
- Melville
- Moosup
- Narragansett
- Newport East
- North Attleborough Town
- Northbridge
- North Providence
- North Scituate
- North Seekonk
- Norton Center
- Ocean Grove
- Pascoag
- Pawtucket
- Providence
- Riverside
- Saunderstown
- Smithfield
- Somerset
- Sutton
- Taunton
- Tiverton
- Upton
- Uxbridge
- Valley Falls
- Warwick
- Wyoming
Neighborhoods in Warwick, RI
Hoxie rent to own homes Buttonwoods rent to own homes Lakewood rent to own homes Westcott rent to own homes Norwood rent to own homes Lincoln Park rent to own homes East Natick rent to own homes Rocky Point rent to own homes Apponaug rent to own homes Wildes Corner rent to own homesPopular Zip Codes in Warwick, RI
02887 rent to own homes 02886 rent to own homes 02889 rent to own homes 02888 rent to own homesBuying a Home in Warwick, RI
Warwick, RI is seeing rapid growth and Warwick, RI's' housing market remains not optimal with an average home price that is 10% above the 2024 national average. Warwick, RI is part of Kent county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Kent is 1.42% which is above the national average, which is 0.99%.
Median Home Price in Warwick, RI
Median Rent in Warwick, RI
Top Reasons to Live in Warwick RI
Housing Statistics Over the past year, the median home sale price in Warwick was $160,100, which is up by nearly $20,000 when compared to the previous year. This includes data from the 289 house sales transactions that took place, a number that has decreased somewhat since the year before. Just under 75 percent of the homes in Warwick are owner-occupied, and rental properties include a nice mix of both homes and apartments of every size. The median rent is approximately $1,000, which is slightly higher than the state average. Vacancy rate is 5.6 percent and mostly made up of rental homes. That works out nicely for both homeowners and those looking to rent, because there are many rental and purchase opportunities. With the tightening of credit over the past few years, some homeowners are offering a rent to own plan, which takes the pressure of buying and selling off the table.
Shopping in the City When it comes to shopping, anything you could possibly want is available in a short drive, as Warwick is home to many chain and box stores. Some of the more popular businesses even have two locations in the city. The busy Warwick Mall has a variety of large and small shops, as well as a food court and a carousel to entertain the kids. Pawtuxet Village Farmers' Market offers fresh produce, and Warwick Commons, Bald Hill Place, and Warwick Center offer many shopping opportunities in one place. Some of the neighborhoods offer specialty boutiques, such as Becky Brosco Salon & Boutique and Yris Bridal Design, and there are several areas that feature small-town style Main Streets, with coffee shops, antique stores, hair salons and individually-owned businesses.
Entertainment and Nightlife Warwick has a selection of clubs catering to any imaginable music taste, ranging from country to heavy metal. Other folks frequent the sports bars and local watering holes, such as the Nostalgia Grille & Lounge, Fat Belly's Pub, and Sports View Bar. Those who prefer theater take a 15-minute drive to nearby Providence, where the nationally recognized Trinity Repertory Theater makes its home, along with the Providence Performing Arts Center and the Veteran's Memorial Auditorium.
Choosing a Neighborhood Moving to Warwick is surprisingly easy, considering its popularity. There are 10 distinct neighborhoods, so there is something for every taste and price range. Here are a few of Warwick's main neighborhoods: