Rhode Island falls short providing adequate affordable housing to its lower-income residents. The report comes from the advocacy non-profit National Low Income Housing Coalition.
According to the study, Rhode Islanders must earn at least $18.49 an hour to afford an average two-bedroom apartment. The minimum wage is currently nine dollars an hour, though efforts are underway to raise that to $10.10.
But Rhode Island Coalition for the Homeless Executive Director Jim Ryczek said low-income residents need access to more affordable housing, because they are consistently unable to get into the marketplace.
“Even when the economy has a downturn low-income renters can’t find rents that they can afford, because the rental market is saturated with people who have left the housing market,” said Ryczek. “And then when the economy recovers, they’re priced out of the market.”
Rhode Island ranked 18th overall for least affordable housing. He said Rhode Island must catch up with the states of Connecticut and Massachusetts, who invested more in affordable housing at the start of the economic downturn.
All six New England States ranked among the top 25.
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