Westerly, RI

  • Overview
  • Performance
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Key Performance Metrics

Market snapshot

Performance indicators for the Westerly short-term rental market based on reliable data.

Listings

63 / 299

Reliable / Active

Cap Rate

6%

Middle-Earners Gross Yield

Revenue

$38,383

Middle-Earners Revenue

Occupancy

54%

Middle-Earners Occupancy

Home Value

$599,770

Median Home Sale Price

Top Earners

$68,705

Top-Earners Revenue

Westerly

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Westerly.

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B

Generally Investor friendly

Westerly Regulations

Westerly explicitly allows short‑term rentals in residential zones with a straightforward two‑step registration (state DBR and town annual registration via a simple portal) and no municipal occupancy caps. The main constraints are the $500 annual town fee and a town‑wide requirement for active local management, but the process is clear and enforcement appears measured with ongoing policy discussion not yet codified. Overall compliance is manageable for investors, placing the regime in the friendly tier.

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About Westerly

Westerly is a town on the southwestern coastline of Washington County, Rhode Island, United States, first settled by English colonists in 1661 and incorporated as a municipality in 1669. It is a beachfront community on the south shore of the state with a population of 23,359 as of the 2020 census. The Pawcatuck River flows on the western border of Westerly and was once renowned for its own species of Westerly salmon, three of which are on the town's official seal. The river flows from 15 mi (24 km) inland, emptying into Little Narragansett Bay. It also serves as the boundary between Westerly and Pawcatuck, Connecticut. Three large salt ponds lie along the coast of Westerly which serve as shallow, reef-like pools whose outer walls form the long, white beaches for which the town is renowned. From west to east, these ponds are Maschaug Pond, Winnapaug Pond, and Quonochontaug Pond. The Westerly area was known for its granite and stone-cutting industry, which quarried a unique stone known as Westerly granite. This pinkish granite is ideal for statuary and has been used in numerous government buildings of several states on the eastern seaboard.Westerly becomes a popular tourist destination during the summer months when the population nearly doubles. Its well-known beaches include Weekapaug Beach, Westerly Town Beach, Misquamicut State Beach, East Beach, and Watch Hill Beach.

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