3-digit ZIP regional index
Home appreciation in ZIP codes 028xxWarwick, RI area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 028 changed +5.4% over the year to Q2 2026, compared with +5.0% for Rhode Island and +3.0% for the United States.
The region covers ZIP codes 02802–02898. Most of its 2010 population lived in Providence County (37%), Kent County (25%), Washington County (19%). Communities in the region include Pawtucket, Woonsocket, Newport, Central Falls, Westerly. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +5.4%
- 5-year change
- +54.9%
- Since Q1 1995
- +357%
- National rank (1 year)
- 226th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 028 vs Rhode Island and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 028: 457.4
- Rhode Island: 455.9
- Providence-Warwick, RI-MA metro: 452.6
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 028 | RI | U.S. | Gap vs RI | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +5.4% | +5.0% | +3.0% | +0.4 pts | +2.4 pts |
| 3 years | +20.9% | +22.1% | +12.9% | −1.2 pts | +8.0 pts |
| 5 years | +54.9% | +55.6% | +41.3% | −0.7 pts | +13.6 pts |
| 10 years | +117% | +120% | +93.3% | −3.2 pts | +23.5 pts |
| Since Q1 1995 | +357% | +356% | +292% | +1.4 pts | +65.8 pts |
If you bought in ZIP3 028 in…
Applying the regional index change from the same quarter of each year to Q2 2026 to an example $300,000 purchase price. Individual homes can differ widely from the regional average.
| Bought in | Index change | $300,000 then, at the regional rate |
|---|---|---|
| Q2 1995 | +353% | $1,358,181 |
| Q2 2000 | +273% | $1,117,766 |
| Q2 2005 | +85.9% | $557,815 |
| Q2 2010 | +127% | $679,864 |
| Q2 2015 | +124% | $672,731 |
| Q2 2020 | +77.6% | $532,654 |
| Q2 2021 | +54.9% | $464,701 |
| Q2 2023 | +20.9% | $362,595 |
| Q2 2025 | +5.4% | $316,139 |
How ZIP3 028 ranks
Over the past year ZIP3 028 ranks 226th of 882 3-digit ZIP regions nationally and 1st of 2 in Rhode Island. Its one-year change is +2.4 pts versus the nation and +0.4 pts versus Rhode Island. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Rhode Island |
|---|---|---|
| 1 year | 226th of 882 | 1st of 2 |
| 3 years | 176th of 882 | 2nd of 2 |
| 5 years | 125th of 882 | 2nd of 2 |
| 10 years | 126th of 882 | 2nd of 2 |
| Since Q1 1995 | 147th of 879 | 1st of 2 |
Boom, bust, and recovery in ZIP3 028
ZIP3 028's index peaked in Q1 2006, fell 26.4% to its low in Q2 2012, and regained its peak in Q2 2020, about 14.2 years after the top. Today it sits +77.9% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| ZIP3 028 | Q1 2006 | Q2 2012 | -26.4% | Q2 2020 (14.2 yrs) | +77.9% |
| RI | Q2 2006 | Q4 2013 | -27.6% | Q3 2020 (14.2 yrs) | +77.8% |
| Metro | Q1 2006 | Q2 2012 | -26.0% | Q1 2020 (14 yrs) | +75.4% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 028's index has changed +107% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 028 after inflation | RI after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +1.5% | +1.1% | +0.8% | -0.8% |
| 3 years | +9.8% | +10.1% | +11.2% | +10.2% | +2.8% |
| 5 years | +24.0% | +24.9% | +25.4% | +22.5% | +13.9% |
| 10 years | +39.1% | +55.9% | +58.2% | +52.3% | +39.0% |
| Since Q1 1995 | +121% | +107% | +106% | +104% | +76.8% |
Estimate appreciation for a home in ZIP3 028
Regional estimate
$650,410
- Estimated gain
- $350,410
- Index change
- +117%
- Start index
- 210.97
- End index
- 457.39
ZIP3 028 (Warwick, RI area), Q2 2016 to Q2 2026. Index type: Native 3-Digit ZIP index.
Nearby 3-digit ZIP regions
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|---|
| 029 · Providence, RI area | RI | +4.2% | +57.2% | +351% |
| 027 · New Bedford, MA area | MA | +4.1% | +45.1% | +348% |
| 020 · Franklin Town, MA area | MA | +3.1% | +41.1% | +356% |
| 062 · Danielson, CT area | CT | +6.6% | +56.3% | +231% |
| 063 · Norwich, CT area | CT | +4.6% | +60.1% | +275% |
| 023 · Brockton, MA area | MA | +3.6% | +42.3% | +387% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 457.39 |
| Q1 2026 | 447.46 |
| Q4 2025 | 443.23 |
| Q3 2025 | 438.60 |
| Q2 2025 | 434.04 |
| Q1 2025 | 427.48 |
| Q4 2024 | 419.90 |
| Q3 2024 | 416.18 |
| Q2 2024 | 408.86 |
| Q1 2024 | 393.19 |
| Q4 2023 | 387.98 |
| Q3 2023 | 384.16 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 028?
- Based on FHFA HPI® data for 3-digit ZIP region 028, the regional index changed +5.4% over the year to Q2 2026, +54.9% over five years, +117% over ten years, and +357% since Q1 1995.
- Is ZIP3 028 appreciating faster than Rhode Island and the U.S.?
- Over the past year the region's index +5.4% compares with +5.0% for Rhode Island and +3.0% for the U.S., a gap of +2.4 pts versus the nation. Over five years the gap versus the nation is +13.6 pts.
- Which ZIP codes are in 3-digit ZIP region 028?
- All ZIP codes that begin with 028. Census 2010 ZIP Code Tabulation Areas in this region run from 02802 to 02898 (60 areas). FHFA publishes one index for the whole 3-digit region, not for each 5-digit ZIP code.
- Can I use this to value my home?
- No. The FHFA HPI® is a broad regional index of average price movement. It is not an appraisal, tax assessment, or automated valuation of any individual property. Use it as general context alongside local sales and a professional opinion.