Washington County · Providence-Warwick · population 18,423
Where Westerly stands
At or near all-time high. home values up 8.3% in the last year. averaging 8.0% annual growth over 5 years. rents up 9.8% in the last year.
Home value trajectory · last 10 years
Zillow ZHVI · monthlyLifestyle scores
Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.
Rent trajectory · last 5 years
Zillow ZORI · monthlyHome value vs rent · indexed to 100
Both rebased at first month of ZORI data (~2015)Rent vs buy
At a 26.8 price-to-rent ratio, renting beats buying in Westerly for most shorter holds. The premium you pay to own would take many years of rent savings to recoup, and that's before maintenance, taxes, and opportunity cost on the down payment.
How the momentum score breaks down
methodology →Westerly has averaged 8.0% annual appreciation over five years and the trend is still live (+8.3% in the last 12 months). When a momentum trade keeps working, the simplest explanation is usually correct: more people want in.
Westerly's bear case is the boring one: the cycle is real and any market that's run hard can stall. Watch for slowing population growth, rising days-on-market, or builder discounts as the early warning signals.
About Westerly
Westerly is a city in Washington County, Rhode Island, with an estimated population of 18,423. It anchors the Providence-Warwick metro area. The median home value in Westerly is $626,390 as of 2026-04, up 8.3% over the last 12 months. Over the last five years, home values have averaged +8.0% annual growth, with prices at or near the 5-year peak. Rents in Westerly average $1,946 per month, up 9.8% year-over-year. The composite momentum score is 84 of 100 (Hot). Buyers should expect competition and limited negotiation room in this market.
▲ Bull case
▼ Bear case
Playbook
Expect competition, escalation clauses, and pressure to waive inspections. Make your strongest offer up front — Hot markets reward decisiveness, not negotiation. If you can't write a clean offer, you may not be the best fit for this market right now.
Price slightly above recent comps and let multiple offers work. Days-on-market should be short. Don't accept the first offer in the first 48 hours unless it's significantly above ask.
Cap rates will look ugly in a Hot market — your thesis has to be appreciation, not yield. Don't expect cash flow; expect to ride the trend and exit before it stalls.
Local safety & alerts
No active National Weather Service alerts for Washington County right now.
Public-safety links are official .gov sources, not curated by us. Washington County routes NWS alerts; check the state EM portal for non-weather emergencies.
Cities like Westerly
Run the numbers for Westerly
Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.
Climate & natural-disaster risk
State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.
Local sports teams
Major professional teams the Providence-Warwick area cheers for. Detailed stats, schedules, and player pages on intherafters.com.
Current weather
Find rentals & listings
Open current Westerly listings on the major real-estate sites.
Links open the live search on the destination site — results are always current.
Local economy & environment
Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.