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RI Monthly: How Much Does It Cost to Rent an Apartment in RI?

on April 10, 2018 in Exeter, Foster, Glocester, Little Compton, Providence, Rhode Island, Richmond, West Greenwich by Amy Cola
Rhode Islanders must earn two-and-a-half times the minimum wage to afford the average cost of rent.
 
Casey Nilsson

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 

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