From Simmer to Sizzle to Searching in Vain:
Rhode Island's Red-Hot Rise in House Prices Chills Many Would-Be Buyers

Since 1999, the start of the recent boom, median single-family home prices in Rhode Island have risen, on average, 14 percent annually. During the same period, Rhode Island household incomes rose only about one percent annually, the U.S. Census estimates.

All Rhode Islanders can afford less and less house every year. Moderate-to-low wage earners in Rhode Island (the majority of our workforce) get it worst.

Sale price for existing single-family homes in Rhode Island

Year	Median sale price*	% increase over previous year*
2004	$264,700	+15.09%
2003	$230,000	+22.24%
2002	$188,150	+20.61%
2001	$156,000	+14.73%
2000	$135,976	+7.92%
1999	$126,000	+2.77%

* www.riliving.com, official website of the Rhode Island Association of Realtors. Median sale price means half the properties sold for more, half sold for less.

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