Salary & Cost of Living in Warwick, RI
Warwick, RI: $62,000 median salary, cost of living index 105, $15.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$62,000
$30/hr
Cost of Living
105
US avg = 100
Minimum Wage
$15.00
per hour
Unemployment
3.5%
rate
Warwick, RI Overview
Population
82,823
Median Salary
$62,000
Average Salary
$68,000
Avg Commute
24 min
Median Home Price
$320,000
Median Rent
$1,350/mo
Job Growth
+1%
Sales Tax
7%
Warwick is located in Rhode Island with a population of 82,823. The median household salary is $62,000 per year ($30/hour), which is $2,616 above the national median of $59,384. The average commute time is 24 minutes, and the city has a job growth rate of +1%.
Warwick Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Warwick, RI, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$48,911
$4,075.88/month · $1,881.17/biweekly · Effective Rate: 21.1%
Gross Pay
$62,000
Federal Tax
-$5,402
State Tax
-$2,945
Local Tax
$0
FICA
-$4,743
Net Pay
$48,911
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,166.67 | $62,000.00 |
| Federal Income Tax | -$450.13 | -$5,401.50 |
| Rhode Island State Tax (4.75%) | -$245.42 | -$2,945.00 |
| Social Security (6.2%) | -$320.33 | -$3,844.00 |
| Medicare (1.45%) | -$74.92 | -$899.00 |
| Net Take-Home Pay | $4,075.88 | $48,910.50 |
Salary Comparison: Warwick vs Other Cities
See how Warwick's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Warwick, RI | $62,000 | 105 | $59,048 |
| National Average | $59,384 | 100 | $59,384 |
| Tempe, AZ | $62,000 | 105 | $59,048 |
| Wilmington, DE | $62,000 | 105 | $59,048 |
| Fort Lauderdale, FL | $62,000 | 118 | $52,542 |
| Miramar, FL | $62,000 | 112 | $55,357 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Warwick
Warwick's cost of living index is 105 (national average = 100). Living in Warwick is 5% more expensive than the national average.
Median Home Price
$320,000
Median Monthly Rent
$1,350
Annual Rent Cost
$16,200
Your Salary's Purchasing Power
Your $48,911 annual take-home pay in Warwick has the purchasing power of approximately $46,581 in an average-cost US area. You would need to earn $65,100 in Warwick to match a $62,000 salary in an average-cost city.
Top Industries in Warwick
Warwick's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $62,000.
Salary Tips for Warwick Workers
- Research top industries. Warwick's top industries include Healthcare, Retail, Finance. Targeting roles in these sectors can help you earn above the $62,000 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Warwick, RI?
The median salary in Warwick, RI is $62,000 per year, or $30 per hour. The average salary is $68,000. This is $2,616 above the national median of $59,384.
What is the cost of living in Warwick, RI?
Warwick's cost of living index is 105 (national average = 100), meaning it is 5% more expensive compared to the national average. The median home price is $320,000 and the median monthly rent is $1,350.
What are the best industries in Warwick?
The top industries in Warwick, RI include Healthcare, Retail, Finance. The city has a job growth rate of 1% and an unemployment rate of 3.5%. Workers in these industries often earn above the city's median salary of $62,000.
How does Warwick's salary compare to other cities?
Warwick's median salary of $62,000 is 4.4% above the national median of $59,384. However, when adjusted for cost of living (index: 105), the real purchasing power is approximately $59,048.
What is the minimum wage in Warwick, RI?
The minimum wage in Warwick, RI is $15.00 per hour. This equals approximately $31,200 per year for a full-time worker (40 hours/week). This is $7.75 above the federal minimum wage of $7.25/hour.