Providence at a Glance:
The city of Providence is located in Providence County, Rhode Island. Providence is the capital and most populous city of Rhode Island. Providence was founded in 1636 by Roger Williams, a religious exile from the Massachusetts Bay Colony. Providence was incorporated as a town in 1636, and a city in 1832.
The Providence city limits enclose a small geographic region, with a total area of 20.5 square miles, of which 2.1 square miles is water. It is home to 25 official neighborhoods.
Providence's city government has a mayor-council form of government. The Providence City Council consists of fifteen city councilors, one for each of the city's wards. The council is tasked with enacting ordinances and passing an annual budget. Providence also has probate and superior courts.
The data displayed here represent Providence excluding the collection of neighborhoods that form the city's East Side. Private-sector wage, housing units, and BHRI counts are for the Providence as a whole.
Housing Facts: 2011
|Typical monthly housing payment* for a $100,000 house||$963|
|Household income required to afford a $100,000 house||$38,505|
|Average monthly rent for a two-bedroom apartment||$1,030|
|Household income required for that rent to be affordable||$41,200|
|Average private-sector wage for jobs in Providence||$51,012|
|Foreclosures in Providence|
|Actual number of foreclosures||445|
|Total number of mortgaged housing units||12,992|
|Foreclosures as a percentage of mortgaged stock||3.40%|
|Housing Units in Providence|
|Number of year-round housing units||71,168|
|Housing units that quality as affordable||10,342|
|Affordable housing units reserved for the elderly||4,373|
|Affordable housing units reserved for families||4,955|
|Affordable housing units reserved for persons with special needs||1,014|
|Homes funded through Building Homes Rhode Island||515|
|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||0|
*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).