What to know before you move: cost, market timing, who it fits.
If you're considering a move to Westerly, RI, the most important variables are the local housing market, the cost structure (taxes, insurance, utilities), and how well the city fits your day-to-day life. This page summarizes the housing market read; pair it with the cost of living page for the full picture.
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.
Prices are still moving up (+8.3% YoY). Inventory tends to be tight in 'Hot' markets — buyers should expect competition and limited negotiation room.
Reasons people move here
- Trend still working: prices up 8.3% in the last 12 months — buyers are still chasing inventory.
- Healthy 5-year run: +8.0% annualized over 5 years, outpacing US inflation.
- Held the highs: currently +0.0% from the 5-year peak — this market refused to give back gains.
- Hot rental market: rents up 9.8% YoY — landlords have pricing power, supports new investment math.
Things to know first
- Rental squeeze: rents up 9.8% YoY — tenants face tough renewals. Affordability deteriorating fast.
- Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.
More about Westerly
Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.