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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: 2011

Typical monthly housing payment* for a $260,000 house $1,921
Household income required to afford a $260,000 house $76,848
Average monthly rent for a two-bedroom apartment $1,173
Household income required for that rent to be affordable $46,920
Average private-sector wage for jobs in Bristol $38,168
Foreclosures in Bristol  
Actual number of foreclosures 22
Total number of mortgaged housing units 4,177
Foreclosures as a percentage of mortgaged stock 0.50%
Housing Units in Bristol  
Number of year-round housing units 9,015
Housing units that quality as affordable 532
Affordable housing units reserved for the elderly 359
Affordable housing units reserved for families 97
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 370

*Calculated using a 30-year mortgage at 4.45% interest (2011 average rate) with a 3.5% down payment, property taxes (the state's median rate of $17.95 per the $1000 of the home's valuation), hazard insurance ($100/month), monthly mortgage insurance (1.25%/month).