Housing Needs of South RI
The South Region is dominated by single-family homes—with only about a quarter of its stock as multifamily housing. The projected housing need, according to the 2016 report, is for significantly more multifamily stock than single family homes. Fifty-three percent of the renters in the region are considered cost burdened, or pay more than 30 percent of their income toward housing costs. Thirty-two percent of the region’s households, or 19,920, fall below 80 percent of area median income. While the significant household growth is projected to be households aged 65 and older, it is also projected that there will be half as much need for housing for households aged 25-44.