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Cardinal Lane Condominiums developed by Women's Development Corporation. Funded in part through BHRI.

Hopkinton at a Glance:

Hopkinton is a town in Washington County, Rhode Island. It is located on the Pawcatuck River on the Connecticut border. Hopkinton was incorporated in 1757, and consists of four villages: Ashaway, Bradford, Hope Valley and Rockville. According to the United States Census Bureau, the town has a total area of 44.1 square miles, of which 1.1 square miles is water. Hopkinton's governmental structure is made up of a five-member Town Council and a Town Manager.

Housing Facts: 2011

Typical monthly housing payment* for a $220,000 house $1,768
Household income required to afford a $220,000 house $70,708
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 Hopkinton $38,896
Foreclosures in Hopkinton  
Actual number of foreclosures 21
Total number of mortgaged housing units 2,136
Foreclosures as a percentage of mortgaged stock 1.00%
Housing Units in Hopkinton  
Number of year-round housing units 3,370
Housing units that quality as affordable 222
Affordable housing units reserved for the elderly 190
Affordable housing units reserved for families 5
Affordable housing units reserved for persons with special needs 27
Homes funded through Building Homes Rhode Island 20
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 115

*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).