According to a report from Realtor.com, Rhode Island has no affordable housing options for homebuyers or renters. This shouldn’t come as a surprise because earlier this year, a report from the National Association of Home Builders revealed that Americans need to earn about $141,000 to be able to afford a median-priced home.
The report noted that 75% of American households were unable to afford the median-priced home of $459,826 with a 30-year mortgage, which means that over 100 million households were priced out of the market.
