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Warren

MEDIAN HOME PRICE

$245,000

Assumed Down Payment

$8,575

Mortgage Amount

$236,425

Monthly Housing Payment

$1,804

$72,158

Annual Income Needed to Afford This

MEDIAN HOME PRICE: COMPARISON

*Adjusted to 2015 dollars

5 YEAR

2010

$255,470

2015

4% DECREASE

10 YEAR

2005

$361,975

2015

32% DECREASE

AVERAGE 2-BEDROOM RENT

$1,196

$47,840

Annual Income Needed to Afford This

AVERAGE 2-BEDROOM RENT: COMPARISON

*Adjusted to 2015 dollars

5 YEAR Insufficient Data
10 YEAR

2005

$1,313

2015

9% DECREASE

COST BURDENED OWNERS

37%

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.

$884

30% OF MEDIAN RENTER HOUSEHOLD INCOME

$903

30% AVERAGE PRIVATE SECTOR WAGE

$432

30% MINIMUM WAGE IN RHODE ISLAND

HOUSING STOCK

TOTAL HOUSING UNITS

4,991

SINGLE-FAMILY

50%

MULTI-FAMILY

50%

BUILDING PERMITS:

8

(New units Authorized)

AFFORDABLE HOUSING

5,031

226

4.50%

277

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

66

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