Housing Needs of Southeast RI
The Southeast Region is comprised of nearly two-thirds owner-occupied and approximately one-third renter households; however, the dominant future need as projected is for multifamily stock. Forty-nine percent of the renters in the region are considered cost burdened, or pay more than 30 percent of their income toward housing costs. Twenty-six percent of the region’s households, or 16,440, fall below 80 percent of area median income. Similar to most of the other regions, the significant majority of household growth is projected to be households aged 65 and older.