| Foreclosures in Rhode Island
Population:
43rd largest U.S. State by population, with 1,053,209 people (2009 estimate). 50th largest state in the country by area, at 1,545 square miles.
Largest city: Providence
Median income:$55,701 (2008 estimate)
Climate:
Yearly rainfall: 40.3 inches per year
Yearly snowfall: 35.5 inches per year in Providence
Temperatures (High/Low) in capital city of Providence:
January, 23/38; July, 86/66
Foreclosures:
Foreclosure activity for 2009 decreased in Rhode Island over the prior year. There was a total of 5,065 properties with filings. That works out to a rate of one filing for every 89 households, which compares to the United States average of 45, and is a little more than one percent of the state’s housing units.
Those figures represent a 23 percent decrease over 2008 and a 175 percent increase over 2007.
In 2008 there were about 13,400 existing homes (including condos, co-ops, and single-family homes but excluding new homes) sold in Rhode Island, compared to about 16,400 sold in 2007.
Economy:
Despite diversifying into a more service-based economy, Rhode Island still makes many of the products that supported it throughout the 20th century. The state's manufacturing industry produces jewelry and silver, textiles, fabricated metals, and plastic and rubber products. But healthcare, government and services provide the most jobs overall. There is also a corporate presence from financial firms such as Citizens Financial Group, which is headquartered in Providence.
Noteworthy: State taxes in Rhodes Island are notoriously high even for New England, which is known for having higher tax rates.
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