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Historic downtown area

East Greenwich at a Glance:

East Greenwich is a town in Kent County, Rhode Island. It was incorporated in 1677. Until 1854, East Greenwich was one of the five state capitals for Rhode Island. The town has a total area of 16.71 square miles, of which 0.14 square miles is water. East Greenwich's governmental structure is made up of a five member elected Town Council and a Town Manager.

Housing Facts: 2009

Typical monthly housing payment* for a $425,000 house $2,976
Household income required to afford a $425,000 house $119,054
Average monthly rent for a two-bedroom apartment $1,208
Household income required for that rent to be affordable $48,320
Average private-sector wage for jobs in East Greenwich $38,740
Housing Units in East Greenwich  
Number of year-round housing units 5,182
Housing units that quality as affordable 221
Affordable housing units reserved for the elderly 141
Affordable housing units reserved for families 46
Affordable housing units reserved for persons with special needs 34
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 297

*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).