Report: 25% of renters ‘burdened’

PROVIDENCE – Housing Works Rhode Island is calling for increased public investment in affordable housing in a report this week that concluded that a quarter of all renters are “extremely housing-cost burdened” in a report issued this week.
The nonprofit’s report estimated that one in four renters Rhode Island is dedicating 50 percent or more of their income to housing, citing a Harvard University analysis of 2010 U.S. Census data. Forty percent of Ocean State residents rents, the report said.
“Compared with working families who are spending less than 30 percent of their income on housing, housing-cost burdened families are more likely to have difficulty purchasing food and more likely to have a child or adult lack health insurance,” the Housing Works report said. “High housing costs also make it extremely difficult to save money or invest in education as a way to move out of poverty.”
The report also cites a Rhode Island Housing survey that showed rents in Rhode Island rose 75 percent between 2001 and 2010 for three-bedroom apartments, rose 50 percent for two-bedroom apartments and 47 percent for one-bedroom apartments.
“Investment in housing provides the necessary capital funds to rehab and develop long-term affordable rentals and assist with operating expenses and, in some cases, support services,” the report said. “Such an investment will ensure that Rhode Islanders, regardless of income, can live in safe, affordable rental homes in thriving communities.”