Middletown Housing Data Updated to 2017 (2/18/19)

On February 9^th and 16^th, Middletown Leads reported Housing issues as they were addressed in the 2014 Middletown Comprehensive Community Plan. 

Information in the plan reflected conditions current at that time.

The R.I. 2017 Housing Fact Book provides updated information that is more relevant and promotes reinforcement and urgency for the statement in the 

Comprehensive Plan that promises “annual review.” 

The following is the data for Middletown, updated to 2017:

The 2017 population was 16,057.

There were 6,419 households of which 53% were owner occupied and 47% were rentals.

The Median Single Family home price was $352,500 which generated a down payment of approximately $12,338, a mortgage of $346,115, and a monthly house payment of $2,395.

A comparison of the median home prices showed a 7% increase from 2011-2016 (5 yr.) and a 23% increase from 2006-2016 (10 yr.).

An income of $56,280 was needed to pay the average 2-bedroom rent of $1,407.

A comparison of the 2-bedroom rentals showed a 2% increase from 2011-2016 (5 yr.) and a 14% decrease from 2006-2016 (10 yr.).

Middletown had 7,365 dwellings in 2017 of which 36% were multifamily, 64% were single family, and 5.4% qualified as affordable housing.

Housing is considered affordable when a household spends 30% or less of its income on housing costs.