Methods & Sources

HousingWorks RI relies on the most recent available government, industry and academic-researched data, professional journals, and peer-reviewed academic literature. Data in tables, graphs, and infographics are rounded to the nearest decimal places and may not total to 100 percent.

Methodologies and sources for research studies and other publications are described within each publication. Primary sources for this website and the Housing Fact Book include:

Population Source: US Census Bureau, American Community Survey, 2012-2016 5-year estimates of total population.

Households Source: US Census Bureau, American Community Survey, 2012-2016 5-year estimates of total occupied housing units.

Owner and Renter Households Source: US Census Bureau, American Community Survey, 2012-2016 5-year estimates of tenure.

Median Home Price

Median Home Price Source: Median sales price of single family homes, Year-End 2017, Year-End 2012, and Year-End 2007 Single-Family Home Sales Statistics, from www.riliving.com, website of the Rhode Island Association of Realtors and Statewide Multiple Listing Service. Figures for 2012 and 2007 are inflation-adjusted to 2017 dollars.

Monthly Housing Payment for Homeownership Methodology:

Calculation of monthly housing payment is derived from:

  • Assumed 3.5% down payment of 2017and mid-year 2018 median sale price of single family homes
  • 30-year mortgage at 3.65% interest rate, the 2017 annual average, and 4.405% interest rate, the 2018 six-month average, as reported by Freddie Mac at www.freddiemac.com/pmms/pmms30.htm
  • Tax Year 2017 municipal property taxes for individual municipalities (excluding homestead exemptions); statewide calculations are based on the average of all RI municipalities
  • Estimated Hazard Insurance for each municipality
  • FHA mortgage insurance at .85%/month
  • Financed upfront 1.75% insurance fee required by FHA

Household Income Required to Afford the Median-Price Home Methodology:

Based on the generally accepted federal standard that a household should be spending no more than 30 percent of its income on housing payments (including rent or mortgage, utilities, taxes, and insurance). Calculated by annualizing the typical housing payment and dividing by 30% to get the income required to pay no more than 30%.

Average 2-Bedroom Rent

Average 2-Bedroom Rent Source: 2017, 2012, and 2007 Year-End Rent Survey, RIHousing. All rents have been adjusted (using HUD utility allowances for 2016) to include heat, cooking fuel, electricity, and hot water unless the listing stated that utilities were part of the contract rent, in which case the adjustment was not made. Figures for 2012 and 2007 are inflation-adjusted to 2017 dollars.

Household Income Required to Afford the Average Rent Methodology:

Based on the generally accepted federal standard that a household should be spending no more than 30 percent of its income on housing payments (including rent, utilities, taxes, and insurance). Calculated by annualizing the typical housing payment and dividing by 30% to get the income required to pay no more than 30%.

Affordability

Average Wage for a Private Sector Job in Each Municipality Source: Quarterly Census of Employment and Wages, Private Sector, Annual 2017 – Rhode Island Department of Labor and Training. The average weekly wage is multiplied by 52 weeks for an annualized figure.

Median Renter Household Income by Area Source: US Census Bureau, American Community Survey, 2012-2016 5-year estimate of the median household income for renter households in each Rhode Island county and Statewide. View a description of counties by cities and towns

Minimum Wage in Rhode Island Source: Workforce Regulation and Safety, Labor Standards, Minimum Wage Rhode Island Department of Labor and Training for 2017. The hourly wage is multiplied by 37.5 hours for a full week and then multiplied by 52 weeks and divided by 12 for a monthly figure.

Cost Burdened Owner and Renter Households Source: US Census Bureau, American Community Survey, 2012-2016 5-year estimates of tenure by housing costs as a percentage of household income in the past 12 months. Owner-occupied units that report zero or negative income and renter-occupied units that indicate “no cash rent” are excluded from cost burden calculations.

Housing Stock

Total Units Source: US Census Bureau, American Community Survey, 2012-2016 5-year estimates of housing units.

Multifamily and Single Family Units Source: US Census Bureau, American Community Survey, 2012-2016 5-year estimates of units in structure. Single family units defined as one unit detached or mobile homes. Multifamily units defined as one unit attached or over two units in structure. Boats, RVs, and other unconventional housing units are excluded from calculations.

Affordable Housing Source: Units that qualify as long-term affordable as percent of year-round housing stock 2017 Low and Moderate Income Housing Chart, RIHousing, as of June 1, 2018.

Annual Building Permits

Source: US Census Bureau, Building Permits Survey, 2007-2017, Annual Permits by Place; statewide figure based on Annual Permits by State. Note: new construction only. 

Regional Affordability 

Projected Future Housing Needs by 2025 Source: HousingWorks RI, Projecting Future Housing Needs Report (April 2016), commissioned by RIHousing.

Annual Building Permits Source: US Census Bureau, Building Permits Survey, 2017, Annual Permits by Place added by region. Note: new construction only. 

Projected Household Change by Age of Householder Source: HousingWorks RI, Projecting Future Housing Needs Report (April 2016), commissioned by RIHousing.

Housing Composition of Household Types Source: HousingWorks RI cross-tabulation of US Census, American Community Survey, Public Use Microdata Sample, 5-Year, 2012-2016, Population and Housing Unit Records. 

Households Below 80% Income Source: US Department of Housing and Urban Development, Comprehensive Housing Affordability Strategy, 2011-2015.

Cost Burdened Owner and Renter Households Source: HousingWorks RI cross-tabulation of US Census, American Community Survey, Public Use Microdata Sample, 5-Year, 2012-2016, Population and Housing Unit Records. Owner-occupied units that report zero or negative income and renter-occupied units that indicate "no cash rent" are excluded from cost burden calculations. 

Affordable Homes by Household Income Source: HousingWorks RI cross-tabulation of US Census, American Community Survey, Public Use Microdata Sample, 5-Year, 2012-2016, Population and Housing Unit Records with analysis of Warren Group Mortgages and Homes Sales, 2017. Numbers of sales were multiplied by 10 as average tenure to accommodate scales.

Rental Affordability Source: HousingWorks RI analysis of RIHousing Rent Survey, 2017.

2017 Production Source: Low and Moderate Income Housing Chart, RIHousing, as of June 1, 2018.

See our latest research at Publications & Reports

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