02886 Rhode Island ZIP | Airport-Corridor Commuter

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Market Intelligence

Warwick Central ZIP 02886 is defined by its proximity to T.F. Green Airport — now Rhode Island's busiest commercial aviation hub — creating a dual-demand market of commuter buyers and short-term rental investors at price points ranging from $280K to $440K. Warwick's residential tax rate of $18.73 per $1,000 assessed value sits mid-range for Rhode Island, translating to roughly $5,200–$8,200 annually on properties in this range. Migration inflows from Massachusetts and Connecticut sustain demand as buyers seek sub-$450K ownership within commuting distance of Boston's Route 128 corridor and Hartford. Gross seasonal and short-term rental income of $20,000–$30,000 annually is achievable on well-positioned properties given airport-adjacent demand from contractors, medical travelers, and airline crew housing programs. The airport's recent terminal expansion and expanded direct route network have added upward pricing pressure in the immediate corridor.

What You Need to Know

Tax Mechanics. Warwick's residential tax rate of $18.73 per $1,000 assessed value is one of the higher rates in Providence County, reflecting the city's large municipal workforce and legacy infrastructure obligations. On a $350,000 home, that rate produces an annual tax bill of approximately $6,555 — meaningfully above the state average effective burden. Warwick assesses at full fair market value, so buyers should not expect a hidden discount between listed assessed value and actual tax liability. Compared to Cranston's effective rate on similar properties, Warwick typically runs $600–$1,200 higher per year on equivalent homes, a figure that becomes relevant when comparing listings across ZIP code lines.
Structural Friction. Airport noise disclosure is a legally required step in Warwick real estate transactions for properties within the FAA noise contour zones, and buyers are entitled to receive the Rhode Island Airport Corporation noise abatement disclosure document — a process that adds 7–10 days to standard contract timelines when not pre-assembled by the listing agent. Properties near the runway approach corridors may also carry deed restrictions tied to historic FAA land acquisition programs, requiring additional title review. The airport expansion footprint extended FAA Part 150 noise zones in 2019, meaning some properties that were outside disclosure thresholds a decade ago now fall within them.
Timing. The Q2 spring surge — April through June — is the dominant buying window in 02886, driven by Massachusetts and Connecticut buyers who begin searches after winter and want to close before school year transitions. Inventory peaks briefly in May before being absorbed by June, leaving summer buyers with limited selection. Rental investors targeting short-term income follow a slightly different calendar, aiming for late Q1 closings (February–March) to capture full summer rental season yield. Properties listed in Q3 or Q4 that miss the summer rental window tend to sell at slight discounts as investor demand softens.
Competitive Context. Cranston ZIP 02910 carries a median price approximately $20,000 higher than comparable 02886 properties, primarily because Cranston's tax rate is slightly lower and its school ratings generate a modest premium among family buyers. Providence's western suburbs offer lower price points but longer airport commute times, making 02886 the clear choice for buyers prioritizing T.F. Green access. East Greenwich and Warwick's southern ZIPs command $50,000–$100,000 premiums over 02886 due to school district differentiation and proximity to the bay, positioning 02886 as the value entry point within the broader Warwick market.

The Bottom Line

ZIP 02886 delivers airport-corridor rental income potential of $20,000–$30,000 annually combined with below-$450K ownership costs, but the $18.73 tax rate and noise disclosure requirement must be factored into net yield calculations before comparing with Cranston alternatives. Off-market activity in this price range runs 10–15% of transactions including FSBO, estate pre-listings, and builder cancellations.

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ZIP 02886's position within Warwick's $280K-$440K market with airport-corridor commuter and rental requires documented ZIP-level closing history. Verified through the 5% Performance Audit™ — documented closing history within 02886's submarket boundary in the trailing 12 months. One direct introduction. No competing names.

Frequently Asked Questions

What is the airport noise disclosure requirement in ZIP 02886?

Rhode Island law requires sellers in FAA noise contour zones around T.F. Green to provide buyers with the Rhode Island Airport Corporation's noise abatement disclosure document before purchase and sale execution. This disclosure identifies the property's position within Part 150 noise contours and adds 7–10 days to contract timelines when not pre-assembled. Buyers should confirm the current contour map, as the 2019 expansion extended noise zones into areas that were previously outside disclosure thresholds.

Can I realistically achieve $20K–$30K in annual rental income in 02886?

Yes, but the figure depends on property configuration and management approach. Airport-adjacent short-term rentals benefit from contractor housing demand, airline crew accommodation programs, and medical traveler bookings that extend occupancy beyond typical seasonal windows. A well-furnished 3-bedroom near the airport corridor can achieve $25,000–$30,000 gross annually with active management; less-optimized properties or those with noise disclosure issues may land closer to $20,000. Net yield after management fees, taxes, and maintenance typically runs 60–70% of gross.

How does Warwick's $18.73 tax rate compare to neighboring ZIPs?

Warwick's $18.73 rate is higher than Cranston ($18.50 effective on comparable homes) and significantly higher than East Greenwich ($16.81) or North Kingstown ($14.99). On a $380,000 home, the Warwick rate produces roughly $7,117 annually versus Cranston's approximately $6,650 — a $467 annual differential. Over a 10-year hold, that gap exceeds $4,600, which buyers should weigh when comparing cross-border listings at similar asking prices.

Related Market Intelligence

• ZIP 02889
• Warwick Specialist
• Warwick Market Guide

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