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Kane's Way

Bristol at a Glance:

The town of Bristol was incorporated in 1746. It is a deepwater seaport town located in Bristol County. It covers 20.6 square miles, 10.5 of which are water. Bristol’s governmental structure is composed of a five member elected Town Council and a Town Administrator. Bristol is a community rich in history, volunteerism, ethnic diversity and beautiful settings. Once known mostly for boat building, it has now been discovered as a wonderful place to "live, work and play". The Town offers a variety of museums, restaurants, bed and breakfasts, and shops for both its residents and visitors.

Housing Facts: 2009

Typical monthly housing payment* for a $250,000 house $1,645
Household income required to afford a $250,000 house $65,795
Average monthly rent for a two-bedroom apartment $1,263
Household income required for that rent to be affordable $50,520
Average private-sector wage for jobs in Bristol $33,384
Housing Units in Bristol  
Number of year-round housing units 8,575
Housing units that quality as affordable 527
Affordable housing units reserved for the elderly 359
Affordable housing units reserved for families 92
Affordable housing units reserved for persons with special needs 76
Homes funded through Building Homes Rhode Island 19
How much housing is needed?  
Additional housing units necessary to meet the 10% threshold established by the State's Low and Moderate Income Housing Act of 2004 331

*Calculated using a 30-year mortgage at 5.04% interest (2009 average rate) with a 5.75% down payment (which includes a 3.5% down payment and a 2.25% one-time mortgage insurance fee), property taxes (the state's average rate of $14.36 per $1,000 of the home's valuation), hazard insurance ($60/month), and monthly mortgage insurance (0.6%/month).