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Wood River

Richmond at a Glance:

The town of Richmond is located in Washington County, Rhode Island. Richmond was incorporated as a separate and distinct town in 1747. It is bounded on the north by the town of Exeter, on the west by the Wood River, on the east by the towns of Exeter and South Kingstown, and on the south by the Pawcatuck River. According to the United States Census Bureau, the town has a total area of 40.8 square miles, of which 0.2 square miles is water. A 2,359-acre tract in Richmond is owned by the state and managed for wildlife food and habitat as the Carolina Management Area. The Carolina Management Area is primarily forest (1,416 acres), but also includes wetlands and agricultural land.

The town government is directed by a 5-member Town Council that is headed by a council president. In May 2007, Richmond voters approved a referendum to create a Home Rule Charter Commission which took effect in 2009. The Charter retains many features of the prior government: the 5-member Town Council headed by a council president; an elected town clerk; and a Finance Board and an annual Financial Town Meeting. The major changes included 4-year terms for the town councilors instead of 2 years, effective in November 2010, and the creation of a Town Administrator who reports directly to the town council.

Housing Facts: 2013

Typical monthly housing payment* for a $222,000 house $1,732
Household income required to afford a $222,000 house $69,265
Average monthly rent for a two-bedroom apartment $1,154
Household income required for that rent to be affordable $46,160
Average private-sector wage for jobs in Richmond $30,680
Foreclosures in Richmond  
Actual number of foreclosures 8
Total number of mortgaged housing units 2,077
Foreclosures as a percentage of mortgaged stock 0.39%
Housing Units in Richmond  
Number of year-round housing units 2,911
Housing units that quality as affordable 52
Affordable housing units reserved for the elderly 0
Affordable housing units reserved for families 22
Affordable housing units reserved for persons with special needs 30
Homes funded through Building Homes Rhode Island 0
How much housing is needed?  
Additional housing units necessary to meet the 10% threshold established by the State's Low and Moderate Income Housing Act of 2004 239