• strict warning: Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state) in /mnt/stor17-wc1-ord1/350461/501661/www.housingworksri.org/web/content/sites/all/modules/views/modules/node/views_handler_filter_node_status.inc on line 13.
  • warning: Parameter 1 to hwri_user_login_block() expected to be a reference, value given in /mnt/stor17-wc1-ord1/350461/501661/www.housingworksri.org/web/content/includes/theme.inc on line 669.
Narragansett

MEDIAN HOME PRICE

$374,000

Assumed Down Payment

$13,090

Mortgage Amount

$360,910

Monthly Housing Payment

$2,600

$103,991

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$371,855

2014

1% INCREASE

10 YEAR

2004

$488,800

2014

23% DECREASE

AVERAGE 2-BEDROOM RENT

$1,278

$51,120

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$1,498

2014

15% DECREASE

10 YEAR Insufficient Data

COST BURDENED OWNERS

33%

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

COST BURDENED RENTERS

53%

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

$756

30% AVERAGE PRIVATE SECTOR WAGE

$405

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

9,933

SINGLE-FAMILY

81%

MULTI-FAMILY

19%

BUILDING PERMITS:

19

(New units Authorized)

AFFORDABLE HOUSING

7,156

261

3.60%

455

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

108

123

30

2

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