The majority of rental housing that is produced in Rhode Island is skewed toward higher priced units, with 50% of rental units priced above $1,600 per month. This price point is just too high when compared to Rhode Islanders’ wages. That’s why RIHousing works closely with the for and non-profit developer community to provide a variety of financing options to build or preserve rental homes that Rhode Islanders can afford.

In 2019, RIHousing awarded $145 million in funding for housing development and preservation, which will support 961 jobs and help families access quality, affordable homes throughout the state. Funded developments represent a diverse range of properties located in rural, suburban and urban communities across the state. When constructed, these developments will provide affordable apartments to families, seniors and those with special needs.



developed and preserved with Low-Income Housing Tax Credit (LIHTC) financing.

The LIHTC program is the primary federal program for the construction and rehabilitation of affordable apartments.



in Housing Trust Fund financing to 352 homes, serving extremely low-income households and persons with special needs

The HTF is an important source of financing for projects serving extremely low-income and very low-income families.



in state-bond Acquisition and Revitalization Program (ARP) funding to help stabilize communities by strategically targeting blighted and vacant properties.



in mortgage financing.

Provided funding to support the development of net-zero energy homes through the Zero Energy for the Ocean State (ZEOS) program,

a public-private partnership with the Rhode Island Office of Energy Resources (OER) and National Grid.

Released a Request for Proposals for a new Workforce Housing Pilot program

to support the creation of rental homes for households earning up to 120% of Area Median Income (AMI).

2019 RIHousing Annual Report

We’ll Get You Home.