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Coventry Meadows developed by Coventry Housing Associates Corporation. Funded in part through BHRI.

Coventry at a Glance:

The town of Coventry is located in Kent County. It covers 63.2 square miles, 2.8 of which are water. It is the largest town in land area in Rhode Island, being surpassed in total area only by South Kingstown, Rhode Island, with water and land area of 50.8 square miles. Coventry’s governmental structure is made up of a five member Town Council and a Town Manager.

Housing Facts: 2010

Typical monthly housing payment* for a $180,000 house $1,384
Household income required to afford a $180,000 house $55,354
Average monthly rent for a two-bedroom apartment $1,081
Household income required for that rent to be affordable $43,240
Average private-sector wage for jobs in Coventry $30,680
Foreclosures in Coventry  
Actual number of foreclosures 55
Total number of mortgaged housing units 8,359
Foreclosures as a percentage of mortgaged stock 0.70%
Housing Units in Coventry  
Number of year-round housing units 12,861
Housing units that quality as affordable 679
Affordable housing units reserved for the elderly 402
Affordable housing units reserved for families 235
Affordable housing units reserved for persons with special needs 42
Homes funded through Building Homes Rhode Island 52
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 607

*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).