Cost of Living in Westerly

Westerly's cost of living runs genuinely mixed: housing costs above Rhode Island's own statewide average, offset by a genuinely below-state local property tax rate.

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Above-average housing costs

Westerly's average home value ($623,538, Zillow, +8.2% YoY) runs well above Rhode Island's own $436,612 statewide average, driven in part by coastal and second-home demand.

A genuine local property-tax advantage

Westerly's local effective property tax rate (0.98%) runs below both Rhode Island's own statewide average (1.35%) and the national median (1.02%).

Rent close to the statewide average

Westerly's median rent (~$2,000/month) runs close to, and modestly below, Rhode Island's own cited statewide average fair market rent (~$2,032).

Key takeaways

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Last reviewed: 2026-08-28. Independent research; not financial, tax, or legal advice -- confirm current figures with a local professional before making a decision.