HousingWorks RI - South Kingstown

South Kingstown

The facts:

$365,000: Price of the median single-family home sold last year
$2,905: Typical monthly payment for that house (including principal, interest, taxes and insurance)
$116,217: The income you need to afford that house
$1,308: Average rent for a 2-bedroom apartment
$52,320: The income you need to afford that apartment
$33,694: Average annual wage in South Kingstown***
769: Households in South Kingstown paying more than half their income for housing
564 (5.9%): Housing units that qualify as affordable

Click here for footnotes.

Affordable homes in South Kingstown:

Kingston

Single family home created by Habitat for Humanity of South County

LaCasa

Elderly apartments by the Women's Development Corporation (under construction in photo)

Peace Dale

Rental property for people with special needs, developed by Habitat for Humanity of South County

Marc Archambault: Watching the market

Marc Archambault has been a realtor for decades and has seen the housing market wax and wane. While he enjoys the thrill of placing people in homes, lately he’s seen a disappointing trend.

“This has been the toughest time I’ve ever seen. Income is not keeping up, and the houses are increasing in value. It’s made it more difficult for first-time buyers to get in. In the recent past there just haven’t been a lot of homes on the market, competition is really tough. People have to be able to act quickly, act aggressively, and that’s not possible for everybody.

We often have clients and customers who want to come to be near a relative and depending on the income of those people, that’s not always successfully completed. Once we talk for a while and they look at houses, they start to realize that they’re not going to get as near to their folks or to their children as they would have liked. They have to go north or west to find what they’re looking for and that’s a big disappointment. But they have to be realistic to find something that they can afford.”