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Warren

MEDIAN HOME PRICE

$230,000

Assumed Down Payment

$8,050

Mortgage Amount

$221,950

Monthly Housing Payment

$1,837

$73,489

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2014 dollars

5 YEAR

2009

$260,409

2014

12% DECREASE

10 YEAR

2004

$370,987

2014

38% DECREASE

AVERAGE 2-BEDROOM RENT

$1,155

$46,200

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2014 dollars

5 YEAR Insufficient Data
10 YEAR Insufficient Data

COST BURDENED OWNERS

41%

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

COST BURDENED RENTERS

48%

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.

$878

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$870

30% AVERAGE PRIVATE SECTOR WAGE

$405

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

4,899

SINGLE-FAMILY

51%

MULTI-FAMILY

49%

BUILDING PERMITS:

7

(New units Authorized)

AFFORDABLE HOUSING

5,031

229

4.60%

274

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

153

7

69

3

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