Westerly, RI


Highest Appreciating Westerly Neighborhoods Since 2000

Westerly, RI Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Westerly Housing Market Information

With 22,693 people, 9,618 houses or apartments, and a median cost of homes of $287,730, Westerly real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Westerly, accounting for 64.88% of the town's housing units. Other types of housing that are prevalent in Westerly include duplexes, homes converted to apartments or other small apartment buildings ( 23.76%), large apartment complexes or high rise apartments ( 7.43%), and a few row houses and other attached homes ( 3.66%).

The most prevalent building size and type in Westerly are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.14% owning and 37.86% renting.

There is a lot of housing in Westerly built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Westerly built between 1940-1969 ( 27.56%). A lesser amount of the housing stock also hails from before 1939 ( 25.03%). There's also some housing in Westerly built between 2000 and later ( 11.22%).

Vacant housing appears to be an issue in Westerly. Fully 22.36% of the housing stock is classified as vacant. Left unchecked, vacant Westerly homes and apartments can be a drag on the real estate market, holding Westerly real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Westerly Home Appreciation Rates

Westerly's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Westerly during the period has been just -1.01%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Westerly's appreciation rate, at 4.69%, has been at or slightly above the national average. In the latest quarter, Westerly's appreciation rate has been 0.64%, which annualizes to a rate of 2.59%.

Relative to Rhode Island, our data show that Westerly's latest annual appreciation rate is lower than 60% of the other cities and towns in Rhode Island.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Westerly differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westerly - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Westerly real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,093,000 2.5
$820,001 - $1,093,000 2.3
$547,001 - $820,000 7.4
$437,001 - $547,000 7.7
$328,001 - $437,000 21.4
$219,001 - $328,000 40.9
$110,001 - $219,000 14.5
$55,001 - $110,000 0.7
$0 - $55,000 2.7

Average for RI
Very High for Nation

Value Relative to Nation Value Relative to State
17.578811672331 61.5384615384615

Number Of Homes And Apartments:

Westerly Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
71.38% 3.17% 8
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,421 / per month

Homeownership Rate

Owners 62.14
Renters 37.86
Vacant 22.36

Housing Market Details


Age of Homes

2000 or Newer 11.2
1970 - 1999 36.2
1940 - 1969 27.6
1939 or Older 25.0

Types of Homes

Single-Family 64.9
Townhomes 3.7
Small Apt. Buildings 23.8
Apt. Complexes 7.4
Mobile Homes 0.3
Other 0.0

Home Size

No Bedroom 1.49
1 Bedroom 8.17
2 Bedrooms 31.37
3 Bedrooms 37.55
4 Bedrooms 16.19
5 or more bedrooms 5.23