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Granite River Village
Pascoag Elementary renovated into affordable homes

Burrillville at a Glance:

The town of Burrillville was incorporated in 1806. It is located in Providence County. It covers 57.1 square miles, 1.6 of which are water. Burrillville is part of the Blackstone River Valley national Heritage corridor. Burrillville’s governmental structure is composed of a seven member elected Town Council and a Town Manager.

Housing Facts: 2009

Typical monthly housing payment* for a $211,250 house $1,439
Household income required to afford a $211,250 house $57,553
Average monthly rent for a two-bedroom apartment $1,228
Household income required for that rent to be affordable $49,120
Average private-sector wage for jobs in Burrillville $29,640
Housing Units in Burrillville  
Number of year-round housing units 5,694
Housing units that quality as affordable 500
Affordable housing units reserved for the elderly 242
Affordable housing units reserved for families 224
Affordable housing units reserved for persons with special needs 34
Homes funded through Building Homes Rhode Island 36
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 69

*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).