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Johnston

MEDIAN HOME PRICE

$162,500

Assumed Down Payment

$5,688

Mortgage Amount

$156,813

Monthly Housing Payment

$1,428

$57,102

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$192,769

2014

16% DECREASE

10 YEAR

2004

$319,475

2014

49% DECREASE

AVERAGE 2-BEDROOM RENT

$1,275

$51,000

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$1,245

2014

2% INCREASE

10 YEAR

2004

$1,372

2014

7% DECREASE

COST BURDENED OWNERS

37%

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

COST BURDENED RENTERS

51%

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.

$686

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$1096

30% AVERAGE PRIVATE SECTOR WAGE

$405

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

12,611

SINGLE-FAMILY

67%

MULTI-FAMILY

33%

BUILDING PERMITS:

10

(New units Authorized)

AFFORDABLE HOUSING

12,381

999

8.10%

239

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

113

13

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