75% of Latino Households in RI Rent Housing cost burdens decrease the purchasing power of nearly 71,500 renter households in Rhode Island Public investment in affordable homes has provided a strategic stimulus to Rhode Island's economy. Key Studies have quantified the economic impact and multiplier effect of
investing in affordable homes. Rhode Islanders who spend more than half their incomes on housing cannot fully participate in their local economies. Overall residential foreclosure deeds continue to decline in Rhode Island.
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75% of Latino Households in RI Rent

More than half of those renter households are cost burdened, decreasing Latino purchasing power by an estimated $82 million annually.

Housing cost burdens decrease the purchasing power of nearly 71,500 renter households in Rhode Island

If these cost burdened renters were in homes that were affordable to them, close to $400 million in purchasing power could benefit other parts of the economy.

Public investment in affordable homes has provided a strategic stimulus to Rhode Island's economy.

Close to 60% of the total estimated cost of residential construction permitted from 2007 through 2010 was for developments supported by the Building Homes Rhode Island program.

Key Studies have quantified the economic impact and multiplier effect of investing in affordable homes.

In Rhode Island, the $50 million invested in the Building Homes Rhode Island program generated close $800 million in total economic activity throughout the state- $15.80 per $1 of funding deployed.

Rhode Islanders who spend more than half their incomes on housing cannot fully participate in their local economies.

A state investment in affordable homes helps to keep rents affordable for low- and moderate-income Rhode Islanders. National research finds that low-income families with have high rental costs, spend 52% less on clothing and 24% less on food than families with affordable housing. [Learn more in: The Complete Approach to Funding Affordable Housing]

Overall residential foreclosure deeds continue to decline in Rhode Island.

From Q1 through Q3 2013, 1,144 residential foreclosure deeds were filed in Rhode Island representing a 10 percent decrease from the same time period in 2012.

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New study looks at transportation access and housing choice

By:Kristen Walsh

A report titled "Driving to Opportunity: Understanding the Links among Transportation Access, Residential Outcomes, and Economic Opportunity for Housing Voucher Recipients finds that access to cars has a positive impact on housing location choice and employment options for housing voucher recipients. This study was published last month by the Urban Institute in collaboration with researchers from the University of Maryland and UCLA.

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Going green is good news for Affordable Housing

By: Amy Cola

Going "green" is becoming a standard for affordable housing. When many think of going green, they think of using green materials, they don't necessarily think of how one of the benefits of green building is making homes more affordable by reducing month utility costs for residents.

In the 2010 Housing Fact Book, HousingWorks RI researched the many benefits of going green and how many local nonprofit developers build sustainably. From energy-efficient appliances to geothermal heating and cooling systems, affordable housing developers in Rhode Island have incorporated sustainable design into the homes they are creating.

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Flood insurance and housing affordability

By: Kristen Walsh

Last month, President Obama signed a flood insurance relief bill which will help make flood insurance more affordable for homeowners. The "Homeowner Flood Insurance Affordability Act of 2013" is a response to increased flood insurance premiums that were unaffordable to homeowners living in high-risk areas for floods. These increased premiums came into effect after the government’s flood insurance program was revamped in 2012.

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