Average rental costs went up by about 5.6 percent last year, according new data from HousingWorks, a housing research group at Roger Williams University.
The group’s annual survey was released Wednesday. It finds the average two-bedroom apartment costs a little more than $1,200 a month in Rhode Island.
HousingWorks says roughly half of renters have to spend more than 30 percent of their income to cover the rent. Director Brenda Clements says the lack of supply of affordable rentals is a persistent problem in the state.
Homeownership rates varied drastically across Rhode Island. In Glocester, 92 percent of residents own their own home, the highest rate in the state. The survey finds Central Falls has the lowest homeownership rate at just 27 percent.
The housing research group based at Roger Williams University highlights a persistent lack of affordable housing options in the state. The report says just five Rhode Island communities have met the state’s goal for 10 percent affordable housing.
And Rhode Island has the lowest public investment in housing in New England. In 2016, the report finds the state spent $8.46 per person on housing.
