Local homes and apartments unaffordable for the average Latino household living in Rhode Island

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Roger Williams UniversityDOCS@RWUFeatured News Story The Week at Roger2-27-2013LPI / HousingWorks Data: Housing Costs aChallenge for Latinos in R.I.Public Affairs, Roger Williams UniversityFollow this and additional works at: https://docs.rwu.edu/weekatroger_featured_newsPart of the Higher Education CommonsThis News Article is brought to you for free and open access by the The Week at Roger at DOCS@RWU. It has been accepted for inclusion in FeaturedNews Story by an authorized administrator of DOCS@RWU. For more information, please contact mwu@rwu.edu.Recommended CitationPublic Affairs, Roger Williams University, "LPI / HousingWorks Data: Housing Costs a Challenge for Latinos in R.I." (2013). FeaturedNews Story. 80.https://docs.rwu.edu/weekatroger_featured_news/80Home News News Archive LPI / HousingWorks Data: Housing Costs a Challenge for Latinos in R.I.LPI / HousingWorks Data: Housing Costs aChallenge for Latinos in R.I.Local homes and apartments una ordable for the averageLatino household living in Rhode IslandFebruary 27, 2013 Public A airs Sta BRISTOL, R.I., – For many, owning a home is part of living the American Dream but new data reveals that this aspirationis out of reach for the average Latino household living in Rhode Island. The Latino Policy Institute at Roger WilliamsUniversity and HousingWorks RI released an infographic today that shows 71 percent of Latino households in the stateare renters, not homeowners.“The demographic trends of Latinos in Rhode Island are striking with a median age of 26 and an increase in populationof 47 percent over the past 10 years,” says LPI Director Anna Cano Morales. “If we are able to make homes morea ordable and attainable for Latinos, this young and fast-growing demographic can play an even larger role in RhodeIsland’s work force and economic growth.”The data, which was aggregated from the U.S. Census, the Rhode Island Department of Labor and Training and selecthousing surveys reveals that Latino households struggle to a ord Rhode Island homes and apartments. Nearly one inthree Latinos spend more than half of their monthly income on housing costs, o en leaving little income le  to coverbasic living expenses such as food, transportation or healthcare.On average, the median income needed to purchase a single-family home in Rhode Island is approximately $61,000,yet the average income for Latino households is just $29,000. Latinos earn only half of the income needed to purchase ahome and approximately $9,000 less than what is required to rent the average one-bedroom apartment in RhodeIsland, which requires a $38,000 median income.Latinos working to add additional income or secure gainful employment face a stark unemployment rate   and enter jobsearches with a traditionally low level of education compared to other job seekers. Unemployment among Latinos inRhode Island stands at approximately 20.9 percent, more than twice the statewide unemployment rate of 10.3 percent.“Latinos are the fastest growing ethnic group in Rhode Island an they represent the future of the state’s population andwork force,” says State of Rhode Island Senator Juan Pichardo, Chairman of the Senate Housing and Municipal A airsCommittee. “It’s critical, now more than ever, that we  nd ways to create more a ordable homes for Hispanic families.All eyes are on the economy right now and we have research to support that housing can be an important economicdevelopment engine. Investing and creating a ordable housing has a direct link to stimulating the economy.”Share This: REQUEST INFO  VISIT CAMPUS  APPLY  MAKE A GIFTMap & DirectionsContact UsDirectoryNewsEventsAthleticsrwu.eduUndergraduate SiteGraduate SiteSchool of LawSchool of Continuing Studies    One Old Ferry Road, Bristol, RI 028091-800-458-7144

LPI / HousingWorks Data: Housing Costs a Challenge for Latinos in R.I.

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LPI / HousingWorks Data: Housing Costs a Challenge for Latinos in R.I.

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