• 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.
Newport

MEDIAN HOME PRICE

$405,000

Assumed Down Payment

$14,175

Mortgage Amount

$390,825

Monthly Housing Payment

$2,619

$104,750

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2015 dollars

5 YEAR

2010

$407,665

2015

1% DECREASE

10 YEAR

2005

$544,935

2015

26% DECREASE

AVERAGE 2-BEDROOM RENT

$1,468

$58,720

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2015 dollars

5 YEAR

2010

$1,425

2015

3% INCREASE

10 YEAR

2005

$1,685

2015

13% DECREASE

COST BURDENED OWNERS

30%

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

COST BURDENED RENTERS

43%

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.

$1068

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$888

30% AVERAGE PRIVATE SECTOR WAGE

$432

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

13,170

SINGLE-FAMILY

43%

MULTI-FAMILY

57%

BUILDING PERMITS:

17

(New units Authorized)

AFFORDABLE HOUSING

11,655

1,994

17.10%

0

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

452

1,345

197

171

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