Average Rent in Westerly, RI↓ Rents falling 2.1% YoY

Westerly, RI has rental prices ranging from $1,284/month to $2,459/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,292/month — 8% below the national average of $1,400/month. With a median household income of $85,646/year, spending $1,292/month on a 1-bedroom represents 18% of gross income — within the recommended 30% threshold.

How Westerly Compares

With an average 2-bedroom rent of $1,576/month, Westerly ranks #2 most expensive of the 2 cities tracked in Rhode Island — pricier than 93% of all US cities in our data.

The Westerly Rental Market

The Westerly, RI area has a population of about 1,673,807 and 37% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Westerly, RI have fallen by $34/month (2.1%) over the past year, from $1,610 to $1,576. This slight decline is consistent with broader market corrections seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Westerly, RI without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $51,680. The local median household income of $85,646 exceeds that threshold by $33,966, making Westerly relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Westerly, RI is $633,880, giving a price-to-rent ratio of 33.5. With a break-even horizon of approximately 34 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Is Westerly, RI Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Westerly?

Break-even analysis and mortgage estimates based on local market data.

Living in Westerly

Cost of living, job market, crime rates, and moving cost estimates.