Location: Providence-Fall River, RI | Metro: Providence-Fall River, RI-MA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,950 |
| 1 Bedroom | $2,060 |
| 2 Bedrooms | $2,570 |
| 3 Bedrooms | $3,150 |
| 4 Bedrooms | $3,580 |
| 5 Bedrooms | $4,153 |
| 6 Bedrooms | $4,651 |
| 7 Bedrooms | $5,023 |
| 8 Bedrooms | $5,274 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,570 | $454,650 | 0.57% | F |
| 3BR | $3,150 | $570,942 | 0.55% | F |
| 4BR | $3,580 | $702,467 | 0.51% | F |
| 5BR | $4,153 | $864,125 | 0.48% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 02771 (Seekonk, MA) as a real estate market for Section 8 properties hinges on the balance between yield and stability. The Fair Market Rent (FMR) for ZIP 02771 in fiscal year 2024 is set at $2,060, while the average market rent stands at $1,916. This indicates that Section 8 properties can command a slightly higher rent compared to the market average, providing a modest yield advantage.
However, the median home value in Seekonk is $572,999, which suggests that the area has a relatively high property cost basis. This means that the profit margin from rental income alone might be limited unless the landlord can leverage other factors such as tax benefits or long-term appreciation.
On the stability axis, Seekonk shows a mixed profile. With only 13.0% of residents being renters, the market has a low percentage of potential tenants, which could translate into fewer available Section 8 participants. Additionally, the median household income is $120,613, which is significantly above the national average and might indicate a higher likelihood of residents seeking homeownership over long-term renting.
The lack of data on the number of days on market (DOM) for rentals adds uncertainty to the stability assessment. However, given the low rental population and high median income, it's reasonable to infer that finding consistent tenants could be challenging.
In summary, ZIP 02771 leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The slight premium on FMR over market rent provides a yield edge, but the high home values and low rental population suggest a less volatile but also less dynamic market. Landlords should prepare for potentially longer periods between tenants and consider the broader economic context of Seekonk when planning their investment strategy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
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.