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20260113-120806-7e6-n-warren Housing Works 2025 Fact Book.pdf

Warren is in the middle-range of affordability to purchase a home and at the higher end to rent according to a recent study on the subject published by HousingWorks RI, a research and policy organization based at nearby Roger Williams University.

In its 2025 Housing Fact Book (see attachment), the study marking the years 2019-2024, the group estimated the annual income needed to "affordably purchase" a median priced home in Warren to be $174,943. Using the same measure, the income required to rent a two-bedroom apartment in town was some $107,680.

By contrast, the income approximated to purchase average homes neighboring Barrington was $249,379 and $191,440 in Bristol. The most expensive location in the state was New Shoreham/Block Island, $521,723, and the most affordable Pawtucket, $128,635.

As for apartments, Narragansett was the highest of those municipalities included in the study, $127,840. Bristol was $80,080. The most affordable location was Westerly, $60,320. However, information for several communities, including Barrington, was unavailable.

State-wide, the study found the cost of a median-priced, single-family home in Rhode Island was now $475,000, requiring a monthly housing payment (on average) of $3,957. That represents a 64 percent increase over 2019, when the median-priced home was $288,792 in the state. For context, a $475,000 home would require a household income of $158,263 to afford.

The median household income of all Rhode Islanders, per the fact book, is $86,372. For homeowners, the median income was $112,858.

In addition, a two-bedroom rental in the state now costs $2,316 a month, representing a 16 percent increase over 2019, when the average rent was $1,988. A $2,316 per month rent would require a household income of $92,640 to meet without any financial hardship.

Specific to Warren, the study put the population of the town at 11,138 with 4,962 households and a median income per at $89,722. The percentage of owners and renters was 61-39.

HousingWorks pegged the median single family home price at the time of the study to $522,500, requiring a monthly housing allowance of $4,374. The purchase price up substantially over the five-year timeframe when in 2019 it was $305,005, marking a 71% increase.

Again, for apartments, the median rental cost was $2,692, rising 27 percent since 2019 when the charge was $1,965.

More study results
The study included a number of other interesting figures about Warren.

For instance, when viewing the purchase and rental costs compared with the average monthly income, which for those Rhode Islander who work in the private sector is $1,448 per month. Those who earn at the minimum wage make on average just $683.

The study found 1,483 households are so-called "cost burdened," if it spends 30% or more of its monthly income on housing. Twenty-percent (601 residents) owned their homes and 48 (882) rented.

Warren's total housing stock is 5,536, broken down by percentage, 52-48, single-family and two-or-more bedroom apartments.

In 2024, the town issued 29 residential building permits — eight single family, 18 two-or-more and three accessory dwelling units.

On an especially timely topic, the study found 1,885 households in Warren were below the 80-percent federal Housing and Urban Development's median income.

Eighty-nine percent of those residents were described as families and 11 percent as those with special needs. Of those residences, 373 were receiving some sort of financial assistance, 172 accessing vouchers.

The amount of low and moderately priced housing in town was estimated to be 6.95 percent.
Overall, the report showed that only eight municipalities in Rhode Island have achieved the state’s goal for each city and town to have 10 percent of its total housing stock be deemed “affordable."

Those municipalities were: Burrillville (10.19 percent); Central Falls (17.76 percent); East Providence (10.64 percent); Newport (17.27 percent); Pawtucket (10.41 percent); Providence (16.59 percent); West Warwick (10.6 percent); and Woonsocket (17.09 percent).

Housing hot stove
As mentioned, the topic of housing, especially the affordable type, has been at the fore of much discussion in town in recent years.

Most recently, the Warren Planning Board, for a second time over the duration of the proposal, denied the "Settlers Green" housing development at the preliminary stage.

Of the 12 single-family homes and some 110 apartments proposed, the developers were said to be offering 25 percent of those as "affordable" over the traditional 30-year time period.

During the discussion, the attorney for the developer offer up some statistics critical of the town, specifically claiming Warren's percentage of affordable housing hovered at just 3.84%.

Former Planning Board Chairman Fred Massie took umbrage with the lawyer's remarks, calling them "a misguided sense of how we're going to get affordable housing. And I also take an exception to the fact that we don't have affordable housing. Oh, yes, we do."

Massie pointed to other recent applications his board did support, including that of "Penny Lane" off Child Street where the East Bay Community Development Corporation will soon construct 40 units, deed restricted as affordable, and another at the former Liberty Street School where five of the 20 units will be listed under the category.

Massie also noted Warren has now gained approval from the state to count those who receive housing vouchers in its affordable housing percentage.