Click | Left Click | Right
Long-term affordable ownership home developed by Habitat South County. Funded in part through BHRI.

Charlestown at a Glance:

The town of Charlestown was incorporated in 1738. It is located in Washington County. It covers 59.3 square miles, 22.5 of which is water. Charlestown’s governmental structure is composed of a five-member elected Town Council and a Town Administrator.

Housing Facts: 2010

Typical monthly housing payment* for a $350,000 house $2,387
Household income required to afford a $350,000 house $95,490
Average monthly rent for a two-bedroom apartment $1,165
Household income required for that rent to be affordable $46,600
Average private-sector wage for jobs in Charlestown $36,036
Foreclosures in Charlestown  
Actual number of foreclosures 9
Total number of mortgaged housing units 1,862
Foreclosures as a percentage of mortgaged stock 0.50%
Housing Units in Charlestown  
Number of year-round housing units 3,318
Housing units that quality as affordable 53
Affordable housing units reserved for the elderly 0
Affordable housing units reserved for families 13
Affordable housing units reserved for persons with special needs 40
Homes funded through Building Homes Rhode Island 8
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 279

*Calculated using a 30-year mortgage at 4.69% interest (2010 average rate) with a 3.5% down payment, property taxes (the state's average rate of $16.44 per $1,000 of the home's valuation), hazard insurance ($75/month), and monthly mortgage insurance (1.15%/month). **Due to insufficient rental sample data, this town uses the statewide average monthly rent for a two-bedroom apartment.