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Burrillville

MEDIAN HOME PRICE

$208,750

Assumed Down Payment

$7,306

Mortgage Amount

$201,444

Monthly Housing Payment

$1,635

$65,401

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$233,099

2014

10% DECREASE

10 YEAR

2004

$309,573

2014

33% DECREASE

AVERAGE 2-BEDROOM RENT

$1,047

$41,880

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$1,355

2014

23% DECREASE

10 YEAR Insufficient Data

COST BURDENED OWNERS

35%

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

COST BURDENED RENTERS

50%

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.

$686

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$908

30% AVERAGE PRIVATE SECTOR WAGE

$405

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

6,572

SINGLE-FAMILY

67%

MULTI-FAMILY

33%

BUILDING PERMITS:

19

(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