$500K Affordable Housing Bond
Summary
The median single-family home in Narragansett sells for $875,000, but a house affordable to the median-income household would cost about $287,000. The town sits at only about 4.5% deed-restricted affordable housing versus the state's 10% goal, leaving it exposed to developer appeals.
At a glance
- Total mentions
- 4
- Last 30 days
- 0
Last discussed Jun 8, 2026.
Impact analysis
Sky-high home prices and rents are pricing out working families and younger residents.
Nothing decided yet, but future policies could help first-time buyers, renters, and seniors trying to stay in town.
Young families and workers who can't afford to live here, and the town if developers use affordable-housing appeals to override local zoning.
Mentions & discussions (4)
Planning Board - Jun 8, 2026
The median single-family home in Narragansett sells for $875,000, but a house affordable to the median-income household would cost about $287,000. The town sits at only about 4.5% deed-restricted affordable housing versus the state's 10% goal, leaving it exposed to developer appeals.
Narragansett Town Council - Mar 16, 2026
The council authorized borrowing $500,000 for affordable housing — funding the town's Affordable Housing Trust, housing-plan programs, and the 576 Point Judith Road property purchase. It's a concrete step toward more year-round housing options.
Narragansett Town Council - Feb 2, 2026
Two programs were on the agenda to put the 2024 voter-approved Affordable Housing Bond to work: up to $400,000 in interest-free home repair loans for low-income homeowners, and an RFP for an administrator to run a homeowner rental incentive program. Neither shows an outcome in the official record.
Narragansett Town Council - Jan 5, 2026
The town is using the 2024 voter-approved affordable housing bond to launch a Home Repair Program — interest-free loans up to $25,000 for income-qualified owners of 1-3 family homes for health, safety and energy repairs. Some residents argue voters expected construction of new affordable housing, not repair loans.
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