In a state as small as Rhode Island, dramatic shifts and differences in wealth should be few and far between.
But as this week’s cover story reports, income disparities in the state’s 39 cities and towns are significant and growing.
“There is a very dramatic difference in wealth in Rhode Island,” said Michael DiBiase, the Rhode Island Public Expenditure Council’s CEO and president. “Our cities and towns don’t resemble each other.”
Income gaps tell at least part of the story.
Over the last decade of U.S. Census data, West Greenwich had the largest increase in median household income in the state, rising almost 25% to $136,629. In neighboring Exeter, however, median household incomes sank more than 23% during the same period to $102,744.
Changing age demographics sparked in part by Amgen Rhode Island’s expansion in West Greenwich have contributed to the disparity.
But Rhode Island’s income differences are not just community by community; in some cities, it’s neighborhood by neighborhood.
The median household income in Providence’s Blackstone Boulevard neighborhood is $150,000. But average household incomes in South Providence and Olneyville are $25,000 and $27,000 respectively.
Such stark differences highlight some of the challenges Gov. Daniel J. McKee faces in not only meeting his goal to raise incomes in R.I. by at least $20,000 but to ensure the gains are spread across the state.
Boosting job skills will help but that must be accompanied by growing housing access and affordability to allow more communities to attract younger homebuyers.