A glimmer of hope in the ongoing effort to boost affordable housing in the Ocean State: Housing unit permits in 2025 were up 40% from the previous year and 150% from 2021.
So why aren’t those gains reflected in the overall market? Home sales and rental costs continue to rise and the state still lags most of the nation in housing production per capita.
The answer is that permits represent the beginning of a multiyear construction process and Rhode Island still has years of catching up to do before measurable progress is seen in the broader real estate market.
State data collection on housing spending, production and affordability is also shifting to better measure changes in the market.
The state only began closely tracking certificates of occupancy this year, for example, so there is no historical data for comparison.
Only when housing costs stop rising for owners and renters and inventory increases will the promise of new permits be realized statewide.