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Johnston

MEDIAN HOME PRICE

$192,000

Assumed Down Payment

$6,720

Mortgage Amount

$185,280

Monthly Housing Payment

$1,562

$62,497

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2015 dollars

5 YEAR

2010

$191,385

2015

0% INCREASE

10 YEAR

2005

$327,689

2015

41% DECREASE

AVERAGE 2-BEDROOM RENT

$1,313

$52,520

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2015 dollars

5 YEAR

2010

$1,260

2015

4% INCREASE

10 YEAR

2005

$1,337

2015

2% DECREASE

COST BURDENED OWNERS

33%

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

COST BURDENED RENTERS

49%

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.

$769

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$1198

30% AVERAGE PRIVATE SECTOR WAGE

$432

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

12,804

SINGLE-FAMILY

63%

MULTI-FAMILY

37%

BUILDING PERMITS:

8

(New units Authorized)

AFFORDABLE HOUSING

12,381

997

8.00%

241

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

737

149

111

7

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