There are a number of forces at work in in Little Compton that have contributed to increasing housing prices, with each affecting either demand or supply: The high desirability of a coastal …
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There are a number of forces at work in in Little Compton that have contributed to increasing housing prices, with each affecting either demand or supply: The high desirability of a coastal community with successful conservation efforts to protect drinking water, agriculture and rural character; a community ethos that values heritage and working landscapes; an increasing share of home ownership by seasonal residents; work-from-home trends; currently high mortgage rates compared to what owners hold; and an increase in short term rentals. Some combination of these and other forces has led to increased housing prices statewide, nationwide, and in surrounding coastal towns similar to Little Compton. We are not alone.
Little Compton is made up of 14,400 acres. Of that, 16 percent, or 2,300 acres, support agriculture. Less than half of that ag land is conserved, critically leaving 1,300 acres unprotected. Working farms are a foundational part of our heritage, but also play a vital role in providing food security, supporting the local economy, contributing to climate resiliency, and recharging our drinking water supply. Farmland has declined dramatically in Rhode Island in the last 30 years and our state has the nation’s highest average cost of farmland by acre. Little Compton’s Agricultural Conservancy Trust still has important work left to do.
It seems to me that we must do more than one thing at a time. There is a need for BOTH conservation and housing; it is not an either/or question. In addition to the work multiple groups in town are doing to increase year-round housing stock, we must simultaneously work to protect our at-risk agricultural lands to ensure that farming remains a strong and viable part of our community.
Please join this critical community conversation.
Don McNaughton
Little Compton