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Deer Brook Estates developed by Deer Brook Development Corporation. Funded in part through BHRI.

Exeter at a Glance:

Exeter is a town in Washington County, Rhode Island. It extends east from the Connecticut border to the town of North Kingstown. It is bordered to the north by West Greenwich and East Greenwich, and to the south by Hopkinton, Richmond and South Kingstown. The town has a total area of 58.4 square miles, of which 0.7 square miles is water. Exeter's governmental structure is made up of a five member elected Town Council.

Housing Facts: 2011

Typical monthly housing payment* for a $322,500 house $2,386
Household income required to afford a $322,500 house $95,445
Average monthly rent for a two-bedroom apartment $1,150
Household income required for that rent to be affordable $46,000
Average private-sector wage for jobs in Exeter $54,444
Foreclosures in Exeter  
Actual number of foreclosures 4
Total number of mortgaged housing units 1,610
Foreclosures as a percentage of mortgaged stock 0.20%
Housing Units in Exeter  
Number of year-round housing units 2,453
Housing units that quality as affordable 54
Affordable housing units reserved for the elderly 0
Affordable housing units reserved for families 30
Affordable housing units reserved for persons with special needs 24
Homes funded through Building Homes Rhode Island 27
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 191

*Calculated using a 30-year mortgage at 4.45% interest (2011 average rate) with a 3.5% down payment, property taxes (the state's median rate of $17.95 per the $1000 of the home's valuation), hazard insurance ($100/month), monthly mortgage insurance (1.25%/month).