News & Event
The 2018 RI Kids Count Factbook, released on Monday, is fascinating. It provides a window into the lives of Rhode Island’s children, and it also offers some peripheral data that contextualizes how the state’s youngest residents are raised.
A portion of the Factbook involves housing security and the economic well-being of the family unit. According to the Factbook, in 2017, the average rent for a two-bedroom apartment in Rhode Island was $1,385 — a $100 increase over the previous year. In order to live without a cost burden — when more than 30 percent of a family’s income is spent on housing — a worker must earn $26.63 an hour, at forty hours a week, to be able to afford that monthly rent. Last year’s minimum wage in Rhode Island was $9.60.
To view the complete report, visit Rhode Island Monthly
Courtesy of Rhode Island Monthly
Every New England state ranked in the top 25 for rental housing unaffordability: Massachusetts (6th), Connecticut (9th), Vermont (13th), New Hampshire (14th), and Maine (23rd). Hawaii has the highest rental costs in the country, and Puerto Rico the lowest, the report found.
To view the complete article, visit Providence Journal
Courtesy of Providence Journal
WASHINGTON, D.C. - Of the 48.2 million rental housing units, nearly 49 percent are located in rental properties of one to four units, according to the latest Rental Housing Finance Survey (RHFS) data released today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. For these small rental properties, nearly 73 percent (14.1 million) are owned by individual investors and more than one-third (7.9 million) have a mortgage or similar debt
"Since 2012, the Rental Housing Finance Survey has been America's premier source of data on rental housing finance and financial health," said Seth Appleton, HUD's Assistant Secretary for Policy Development and Research. "The new 2018 Rental Housing Finance Survey data will help the administration better understand the potential impacts of COVID-19 on the financial health of America’s rental property owners.”
The Rental Housing Finance Survey is funded by HUD and data is collected every three years by the Census Bureau. RHFS is the most comprehensive survey of rental housing properties in the United States, covering topics such as property configuration, ownership and management, rental income and expenses, financing, and capital improvements and expenses. Today’s release includes summary tables for areas across the nation.
Below are highlights from the national level findings among the 20 million rental properties, which contain 48.3 million rental units.
Rental Property Configuration
Ownership and Management
Rental Income and Expenses
Property Purchase, Value, and Financing
Capital Expenses and Improvements
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available at www.hud.gov and https://espanol.hud.gov.
For information about Opportunity ZonesOpportunity Zones visit: https://opportunityzones.hud.gov/
You can also connect with HUD on social media and follow Secretary Carson on Twitter and Facebook or sign up for news alerts on HUD's Email List.
HUD COVID-19 Resources and Fact Sheets
Courtesy of HUD
Thursday, April 09, 2020 | GoLocalProv Business Team
The National Multifamily Housing Council (NMHC) found, in the first review of the effect of the COVID-19 outbreak on rent payments, found that 31 percent did not pay their rent as of April 5.
According to the NMHC tracker, 69 percent of households had paid their rent by April 5; this compares to 81 percent that had paid by March 5, 2020, and 82 percent that had paid by the same time last year.
To view the complete article, visit GoLocal Prov
Courtesy of GoLocal Prov
Posted on March 28, 2019, at 10:59 a.m. ET
It’s hard to remember the last time affordable rents received consistent national attention, but the tide is finally turning. In recent months, prominent presidential contenders — Kamala Harris, Cory Booker, and Elizabeth Warren — have proposed ambitious solutions, and are speaking substantively about the issue on the campaign trail. They shouldn’t be alone in this: According to the numbers, all 2020 presidential hopefuls would be wise to make it a top-tier priority.
The vast majority of the public — a full 85% — believe that ensuring everyone has a safe, decent, affordable place to live should be a “top national priority,” according to a recent national poll commissioned by the Opportunity Starts at Home campaign. This view is strong across the political spectrum — from 95% of Democrats to 87% of independents and 73% of Republicans. Eight in ten people also say that both the President and Congress should “take major action” to make housing more affordable for low-income households.
To view the complete article, visit BuzzFeed News
Courtesy of BuzzFeed News
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