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Historic downtown area

East Greenwich at a Glance:

East Greenwich is a town in Kent County, Rhode Island. It was incorporated in 1677. Until 1854, East Greenwich was one of the five state capitals for Rhode Island. The town has a total area of 16.71 square miles, of which 0.14 square miles is water. East Greenwich's governmental structure is made up of a five member elected Town Council and a Town Manager.

Housing Facts: 2011

Typical monthly housing payment* for a $423,000 house $3,241
Household income required to afford a $423,000 house $129,652
Average monthly rent for a two-bedroom apartment $1,228
Household income required for that rent to be affordable $49,120
Average private-sector wage for jobs in East Greenwich $45,032
Foreclosures in East Greenwich  
Actual number of foreclosures 9
Total number of mortgaged housing units 2,896
Foreclosures as a percentage of mortgaged stock 0.30%
Housing Units in East Greenwich  
Number of year-round housing units 5,342
Housing units that quality as affordable 231
Affordable housing units reserved for the elderly 141
Affordable housing units reserved for families 49
Affordable housing units reserved for persons with special needs 41
Homes funded through Building Homes Rhode Island 0
How much housing is needed?  
Additional housing units necessary to meet the 10% threshold established by the State's Low and Moderate Income Housing Act of 2004 303

*Calculated using a 30-year mortgage at 4.45% interest (2011 average rate) with a 3.5% down payment, property taxes (the state's median rate of $17.95 per the $1000 of the home's valuation), hazard insurance ($100/month), monthly mortgage insurance (1.25%/month).