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Burrillville

MEDIAN HOME PRICE

$211,000

Assumed Down Payment

$7,385

Mortgage Amount

$203,615

Monthly Housing Payment

$1,527

$61,090

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2015 dollars

5 YEAR

2010

$207,637

2015

2% INCREASE

10 YEAR

2005

$332,544

2015

37% DECREASE

AVERAGE 2-BEDROOM RENT

$1,183

$47,320

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2015 dollars

5 YEAR

2010

$1,387

2015

15% DECREASE

10 YEAR Insufficient Data

COST BURDENED OWNERS

34%

A household is cost burdened if it spends more than 30% of its income on housing costs

COST BURDENED RENTERS

55%

A household is cost burdened if it spends more than 30% of its income on housing costs

AFFORDABILITY GAP

Housing is considered affordable when a household spends less than 30% of its income on housing costs.

$769

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$972

30% AVERAGE PRIVATE SECTOR WAGE

$432

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

6,730

SINGLE-FAMILY

67%

MULTI-FAMILY

33%

BUILDING PERMITS:

27

(New units Authorized)

AFFORDABLE HOUSING

6,189

532

8.60%

87

Number of year-round housing units

Housing units that qualify as affordable

% of year-round housing that is affordable

Affordable housing needed to meet 10% goal

242

262

28

139

Affordable housing units reserved for the elderly

Affordable housing units reserved for families

Affordable housing units reserved for persons with special needs

Homes funded through Building Homes Rhode Island

Methods and Sources