Location: Providence-Fall River, RI | Metro: Providence-Fall River, RI-MA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,360 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,210 |
| 4 Bedrooms | $2,510 |
| 5 Bedrooms | $2,912 |
| 6 Bedrooms | $3,261 |
| 7 Bedrooms | $3,522 |
| 8 Bedrooms | $3,698 |
The ZIP code 02761 is located in North Attleboro, Massachusetts, a small town with unique characteristics. Unfortunately, there is no available census data for this specific ZIP code, making it challenging to provide precise figures on population, percentage of renters, median income, and median home value.
However, focusing on the rent economics, the Fair Market Rent (FMR) for ZIP code 02761 in fiscal year 2024 is set at $1590. This figure is critical for landlords and small-portfolio investors considering participation in the Section 8 program. Without specific market rent data, it's difficult to compare the FMR to local rental rates; however, the FMR serves as a benchmark for rental pricing in subsidized housing.
In terms of investment strategy, ZIP code 02761 may suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the Section 8 program offers stable, government-backed rental income, which can be particularly attractive in areas with limited data but known demand for affordable housing. On the other hand, for hands-on investors looking to improve property values and potentially increase rents above the FMR, the absence of detailed market data could present opportunities to assess properties individually and make informed decisions based on local conditions.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.