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Pawtucket

MEDIAN HOME PRICE

$150,000

Assumed Down Payment

$5,250

Mortgage Amount

$144,750

Monthly Housing Payment

$1,250

$49,997

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$165,404

2014

9% DECREASE

10 YEAR

2004

$269,341

2014

44% DECREASE

AVERAGE 2-BEDROOM RENT

$1,021

$40,840

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$1,084

2014

6% DECREASE

10 YEAR

2004

$1,213

2014

16% DECREASE

COST BURDENED OWNERS

43%

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.

$686

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$1086

30% AVERAGE PRIVATE SECTOR WAGE

$405

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

31,798

SINGLE-FAMILY

35%

MULTI-FAMILY

65%

BUILDING PERMITS:

7

(New units Authorized)

AFFORDABLE HOUSING

31,979

2,799

8.80%

399

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

1,351

1,214

234

111

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