Warwick, RI is an affordable place to live with a two-bedroom rent of $1,750 compared to the $1,430 US average. The cost of groceries in Warwick is also relatively low given the Grocery Cost Index of 105 versus 100 for the US. Warwick's local economy is primarily driven by service and manufacturing businesses such as Lockheed Martin Aeronautics, Amica Mutual Insurance Company, and Benson Industries. The town's largest employer is Kent Hospital with about 2,500 employees who provide comprehensive medical care for the community and surrounding areas. Warwick's economy has continued to grow due to its proximity to both Providence and Boston, offering easy access to major metropolitan hubs.
Warwick (zip 02886) has an unemployment rate of 6.0%. The US average is 6.0%.
Warwick (zip 02886) has seen the job market decrease by -8.8% over the last year. Future job growth over the next ten years is predicted to be 30.7%, which is lower than the US average of 33.5%.
Tax Rates for Warwick (zip 02886)
- The Sales Tax Rate for Warwick (zip 02886) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Warwick (zip 02886) is 3.8%. The US average is 4.6%.
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Income and Salaries for Warwick (zip 02886)
- The average income of a Warwick (zip 02886) resident is $39,109 a year. The US average is $37,638 a year.
- The Median household income of a Warwick (zip 02886) resident is $75,404 a year. The US average is $69,021 a year.