PROVIDENCE, RI – People who earn the median salary in Rhode Island - about $54,000 a year - can afford to buy homes in only nine of the state's 39 communities. The information comes from Housing Works RI, which is out with its annual Fact Book. Housing Works director Nellie Gorbea says affordable housing is unavailable to tens of thousands of Rhode Islanders.
"We clearly have not been able to meet our goal of having at least ten percent of the housing stock in each community be affordable to people," she says. "The lack of affordable housing just makes it a lot harder for working families here in the state. Rhode Island is the most housing cost burdened state in New England."
The Housing Works Fact Book also shows foreclosures are on the rise in the Ocean State, with 188 filings per month compared to 157 a month last year.
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