Mythbusters! What's YOUR Affordable Housing IQ?

Think you know about affordable housing? Twelve answers that might surprise you.

True or False:

1. “Affordable housing is just another name for Section 8 and housing projects.”
True   False

2. “Most Rhode Island homeowners live in subsidized housing.”
True   False

3. “Rhode Island’s school population is falling.”
True   False

4. “Rhode Island’s overall population is rising.”
True   False

5. “House production in Rhode Island is keeping pace with population growth.”
True   False

6. “Since 1980, Rhode Island’s rise in house prices has been steeper than California’s.”
True   False

7. “If the housing bubble bursts, prices will fall back to where they were.”
True   False

8. “We have a shortage of housing at all price points in Rhode Island.”
True   False

Multiple Choice:

9. Of those seeking beds in Rhode Island’s homeless shelters, how many have jobs?
5%   10%   20%  50% or more

10. Of the 20 most prevalent occupations in Rhode Island, how many can still afford to rent the state’s median two-bedroom apartment?
4   8   12   16

11. Of the 20 most prevalent occupations in Rhode Island, how many can still afford to buy the state’s median-price home?
1 5 10  15

12. What’s the limit you should spend on housing, to live “affordably” by federal standards?
10% of your gross income   20%   30%   50%

Ready for the answers?

1. False. Public housing and Section 8 subsidized rentals are just part of the picture. Equally important in Rhode Island are the nonprofit developers that build attractive affordable housing for first-time homeowners as well as renters with low to moderate incomes.
2. True. If you take the mortgage interest deduction off your income tax, you in effect are getting a housing subsidy from the government.
3. True. School populations are coming down.
4. True.
5. False. Rhode Island house production is in a 15-year slump.
6. True.
7. False. Economists predict that homes would lose no more than 20 percent of their value. Since 2000, the run-up in appreciation in Rhode Island for single-family homes has been 80.5 percent.
8. True.
9. 20 percent.
10. Four.
11. One.
12. 30 percent.

Affordable Housing 101

Rhode Island's Housing Crisis in a Nutshell

Building Affordable Homes: Obstacles & Options

Mythbusters!

Factual Answers to the Questions Most Often on a Community's Mind

Workforce Housing: Why Employers Care

Glossary

Statistics