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Long-term affordable homes developed by SUNN Builders. Funded in part through BHRI.

Smithfield at a Glance:

The town of Smithfield is located in Providence County, Rhode Island. It includes the historic villages of Esmond, Georgiaville, Mountaindale, Hanton City and Greenville. The town was first settled in the 1600s as a farming community and named after Smithfield, London. Smithfield covers 27.8 square miles, of which 1.2 square miles is water.
Since 1994, the Town of Smithfield has been administered under the Council/Manager form of government. Partisan elections are held every two years to elect five Town Council members, who select a Council President. The Town Manager is appointed by the Smithfield Town Council to serve as the administrative head of the Town Government. The Manager appoints all Department Directors, except the Town Clerk (Clerk of the Council) and the Town Solicitor.

Housing Facts: 2011

Typical monthly housing payment* for a $215,000 house $1,667
Household income required to afford a $215,000 house $66,690
Average monthly rent for a two-bedroom apartment $1,195
Household income required for that rent to be affordable $47,800
Average private-sector wage for jobs in Smithfield $80,080
Foreclosures in Smithfield  
Actual number of foreclosures 25
Total number of mortgaged housing units 4,443
Foreclosures as a percentage of mortgaged stock 0.60%
Housing Units in Smithfield  
Number of year-round housing units 7,845
Housing units that quality as affordable 396
Affordable housing units reserved for the elderly 290
Affordable housing units reserved for families 5
Affordable housing units reserved for persons with special needs 101
Homes funded through Building Homes Rhode Island 5
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 389

*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).