Today, HousingWorks RI at RWU released their 2024 Housing Fact Book, which paints an annual picture of RI’s housing affordability challenges, by the numbers. We appreciate the hard work of the team at HousingWorks RI to deliver this invaluable data.
According to this year’s Housing Fact Book:
?? There is not a single municipality in Rhode Island where a household earning the median homeowner income of $107,452 can affordably buy a home.
?? Renting the average 2-bedroom apartment would require an income of more than $84,000 to affordably rent. This exceeds the state’s median renter income by nearly $40,000.
?? More than a third of Rhode Island households (143,023) spend more than 30 percent of their income on housing costs, making them housing cost burdened.
We know there’s much more work to be done to tackle RI’s housing crisis, and remain committed to advocating for policies and programs that ensure every Rhode Islander has access to a safe, healthy and affordable home in the community of their choice. To that end, we encourage eligible voters to vote yes on question 3, which will help create much-needed homes across Rhode Island.
Read the statement from HNRI executive director Melina Lodge on the 2024 Fact Book findings: https://lnkd.in/gncd7fr6