Side-by-side comparison of home prices, mortgage payments, and housing costs between Newport and Warwick, Rhode Island. Using Rhode Island's 1.53% property tax rate and $2,200/year insurance. Updated for 2026.
Warwick is significantly more affordable than Newport, with homes priced 45% lower on average. That translates to $2,055/month in savings on your total housing payment. For budget-conscious buyers in Rhode Island, Warwick offers a much more accessible path to homeownership.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Rhode Island's 1.53% property tax rate.
Buying in Warwick saves you approximately $2,055/month ($24,660/year) compared to Newport, based on median home prices with identical loan terms.
Warwick is the better choice for first-time buyers, with a median price of $345K versus $625K in Newport. That's $280K less to save for a down payment. You'd need roughly $12K for an FHA 3.5% down payment in Warwick, compared to $22K in Newport. Rhode Island offers the RIHousing First Homes program (10K DPA forgivable) which applies in both cities.
Warwick has the better price-to-rent ratio at 19.8x versus 25.4x in Newport. A lower ratio generally signals better rental income relative to purchase price. Average rent in Warwick is $1,450/month on a $345K median home, making it a stronger candidate for buy-and-rent investors.
Warwick (pop. 82,823) offers more amenities, schools, and services typical of a larger city, while Newport (pop. 25,163) may offer a quieter, more community-oriented lifestyle. Warwick offers both more options and lower housing costs, making it attractive for families who want urban amenities without a premium price.