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Enews Archives

December 21, 2005

New report echoes HousingWorks RI Fact Book: Housing out of reach for many Rhode Islanders
The National Low Income Housing Coalition (to view, click here) has released “Out of Reach 2005,” its annual analysis of housing affordability in the U.S. Among the findings:

Rhode Island is ranked the 8th least affordable state.
Rhode Island has the second largest gap between the housing wage and the renter wage. Workers must earn $18.42/hour to afford the Fair Market Rent for a 2-bedroom apartment, but the average renter makes just $10.34/hour.
Rhode Island is sandwiched by two even more expensive states: Massachusetts ranks 3rd least affordable at $21.88/hour, and Connecticut comes in 7th at $19.30/hour.

Keep in mind that the Out of Reach report uses the Fair Market Rents (FMRs) set by HUD, which tend to be lower than the rental market. The statewide average 2-bedroom FMR is $958, while Rhode Island Housing’s annual survey (to view, click here) of advertised apartments found the average 2-bedroom unit goes for $1,121.

Also, the FMRs do not account for differences in local housing markets. The same FMR applies to 33 of Rhode Island’s 39 cities and towns: $965/month for a 2-bedroom apartment. Yet according to the annual rent survey, the average 2-bedroom rent ranged from $881 in Central Falls to $1,382 in East Greenwich.

To read the Out of Reach report, click here.
To see HousingWorks RI’s community-by-community statistics, click here.

Providence Journal: “Homeless for the holidays”
On December 14, the front page of the Providence Journal told the story of Celeste Arnold and her 4-year-old son Anthony, residents of the Crossroads RI family shelter. “While the holidays inspire many people to focus on home and hearth,” reporter Jennifer Levitz noted, “the season, for others, only emphasizes the frustrating pursuit of both.”

"Celeste and Anthony's story is a poignant reminder that homelessness in Rhode Island is driven by the lack of affordable housing," said HousingWorks RI Acting Director Ari Matusiak. “This is not the way for any of our families to be spending the holidays.”

To read the story, “Homeless for the holidays,” click here.

Two HousingWorks RI members celebrate new affordable homes
Two HousingWorks RI members recently brought new affordable units on line.

On December 8, the West Elmwood Housing Development Corporation hosted the grand opening of Westfield Lofts, the rehabilitation of two historic mill buildings at the former Rau Fastener site into 69 affordable and market-rate apartments. For more information on the West Elmwood Housing Development Corporation and to view some of their work, click here.

On December 9, the Pawtucket Citizens Development Corporation (PCDC) cut the ribbon on Littlefield Commons, five affordable condominiums on High Street in Pawtucket. To learn more about PCDC and see some of thier work, click here.

National Association of Home Builders highlights affordability
“Affordability is the key issue,” declared the National Association of Home Builders (NAHB) in a recent e-newsletter. The NAHB pointed out that the Housing Affordability Index produced by the National Association of Realtors® has substantially decreased from recent highs, particularly in the Northeast region.

To read the NAHB’s e-newsletter, “Eye on the Economy,” click here.

To learn more about the Housing Affordability Index developed by the National Association of Realtors ®, click here.

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