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Cranston at a Glance:

The city of Cranston, once known as Pawtuxet, is located in Providence County. Cranston was incorporated as a town in 1754, and then as a city in 1910. As of the 2000 Census, Cranston was the third largest city in Rhode Island. It covers 29.9 square miles, 1.4 square miles of which are water. Cranston's governmental structure is composed of a City Council comprised of six wards and three city-wide councilors and a Mayor. In 2006, Money Magazine named Cranston as on of the "100 Best Places to Live" in the United States.

Housing Facts: 2009

Typical monthly housing payment* for a $178,700 house $1,323
Household income required to afford a $178,700 house $52,921
Average monthly rent for a two-bedroom apartment $1,089
Household income required for that rent to be affordable $43,560
Average private-sector wage for jobs in Cranston $36,452
Housing Units in Cranston  
Number of year-round housing units 31,968
Housing units that quality as affordable 1,795
Affordable housing units reserved for the elderly 1,345
Affordable housing units reserved for families 229
Affordable housing units reserved for persons with special needs 221
Homes funded through Building Homes Rhode Island 0
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 1,402

*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).