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Pawtucket

MEDIAN HOME PRICE

$159,000

Assumed Down Payment

$5,565

Mortgage Amount

$153,435

Monthly Housing Payment

$1,211

$48,434

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2015 dollars

5 YEAR

2010

$158,174

2015

1% INCREASE

10 YEAR

2005

$281,418

2015

44% DECREASE

AVERAGE 2-BEDROOM RENT

$1,140

$45,600

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2015 dollars

5 YEAR

2010

$1,082

2015

5% INCREASE

10 YEAR

2005

$1,189

2015

4% DECREASE

COST BURDENED OWNERS

42%

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.

$769

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$1139

30% AVERAGE PRIVATE SECTOR WAGE

$432

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

31,873

SINGLE-FAMILY

34%

MULTI-FAMILY

65%

BUILDING PERMITS:

8

(New units Authorized)

AFFORDABLE HOUSING

31,979

2,843

8.90%

355

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

1,371

1,236

236

117

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