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East Bay Bike Path Causeway

East Providence at a Glance:

East Providence is a city in Providence County, Rhode Island. The city has a total area of 16.6 square miles, of which 3.2 square miles is water. It was incorporated as a town in 1812, and as a city in 1958. The City of East Providence is governed by a five member elected City Council, which sets all city policies and ordinances. The day-to-day operations of the City is conducted by the City Manager, who is selected by the City Council and serves for a fixed contract.

Housing Facts: 2009

Typical monthly housing payment* for a $190,000 house $1,345
Household income required to afford a $190,000 house $53,785
Average monthly rent for a two-bedroom apartment $1,085
Household income required for that rent to be affordable $43,400
Average private-sector wage for jobs in East Providence $38,012
Housing Units in East Providence  
Number of year-round housing units 21,236
Housing units that quality as affordable 2,321
Affordable housing units reserved for the elderly 1,393
Affordable housing units reserved for families 795
Affordable housing units reserved for persons with special needs 133
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 0

*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).