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Long-term affordable home developed by NeighborWorks Blackstone River Valley. Funded in part through BHRI.
Long-term affordable home developed by NeighborWorks Blackstone River Valley.
Long-term affordable home developed by NeighborWorks Blackstone River Valley.
Long-term affordable home developed by NeighborWorks Blackstone River Valley.
Long-term affordable home developed by NeighborWorks Blackstone River Valley.

Woonsocket at a Glance:

The city of Woonsocket is located in Providence County, Rhode Island. The population was 43,224 at the 2000 census, making it the sixth largest city in the state. Woonsocket lies directly south of the Massachusetts border. According to the United States Census Bureau, the city has a total area of 8.0 square miles, of which 0.2 square miles is water. Woonsocket is drained by the Blackstone River.

Woonsocket's governmental structure is composed of a seven-member City Council and a Mayor.

Housing Facts: 2010

Typical monthly housing payment* for a $142,000 house $1,204
Household income required to afford a $142,000 house $48,169
Average monthly rent for a two-bedroom apartment $974
Household income required for that rent to be affordable $38,960
Average private-sector wage for jobs in Woonsocket $64,064
Foreclosures in Woonsocket  
Actual number of foreclosures 113
Total number of mortgaged housing units 5,212
Foreclosures as a percentage of mortgaged stock 2.20%
Housing Units in Woonsocket  
Number of year-round housing units 18,745
Housing units that quality as affordable 3,043
Affordable housing units reserved for the elderly 1,276
Affordable housing units reserved for families 1,614
Affordable housing units reserved for persons with special needs 153
Homes funded through Building Homes Rhode Island 28
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 0

*Calculated using a 30-year mortgage at 4.69% interest (2010 average rate) with a 3.5% down payment, property taxes (the state's average rate of $16.44 per $1,000 of the home's valuation), hazard insurance ($75/month), and monthly mortgage insurance (1.15%/month).