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Hopkinton

MEDIAN HOME PRICE

$202,000

Assumed Down Payment

$7,070

Mortgage Amount

$194,930

Monthly Housing Payment

$1,618

$64,711

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$275,857

2014

27% DECREASE

10 YEAR

2004

$322,671

2014

37% DECREASE

AVERAGE 2-BEDROOM RENT

N/A
Not enough data available

N/A

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2014 dollars

5 YEAR Insufficient Data
10 YEAR Insufficient Data

COST BURDENED OWNERS

36%

A household is cost burdened if it spends more than 30% of its income on housing costs

COST BURDENED RENTERS

57%

A household is cost burdened if it spends more than 30% of its income on housing costs

AFFORDABILITY GAP

Housing is considered affordable when a household spends less than 30% of its income on housing costs.

$917

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$1006

30% AVERAGE PRIVATE SECTOR WAGE

$405

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

3,707

SINGLE-FAMILY

81%

MULTI-FAMILY

19%

BUILDING PERMITS:

17

(New units Authorized)

AFFORDABLE HOUSING

3,370

240

7.10%

97

Number of year-round housing units

Housing units that qualify as affordable

% of year-round housing that is affordable

Affordable housing needed to meet 10% goal

190

23

27

20

Affordable housing units reserved for the elderly

Affordable housing units reserved for families

Affordable housing units reserved for persons with special needs

Homes funded through Building Homes Rhode Island

Methods and Sources