Location: Providence-Fall River, RI | Metro: Providence-Fall River, RI-MA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,460 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,690 |
| 5 Bedrooms | $3,120 |
| 6 Bedrooms | $3,494 |
| 7 Bedrooms | $3,774 |
| 8 Bedrooms | $3,963 |
U.S. Census Bureau data (2024)
ZIP code 02791, located in Westport, Massachusetts, has a unique demographic profile that sets it apart from other ZIP codes in the state. The area has only 290 residents, with only 6.3% of them renting their homes. Despite the low population, the median household income in 02791 is a substantial $130,833. However, there is no available data on the median home value for this ZIP code.
The Federal Market Rent (FMR) for ZIP code 02791 is set at $1,790 for the fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 housing program. Unfortunately, there is no available market rent data to compare against the FMR, making it difficult to assess the economic viability of accepting Section 8 vouchers in this ZIP code.
Given the limited data available, the economic situation in ZIP code 02791 appears to be transitional. The lack of median home value data suggests that the real estate market in this area might be evolving, and the relatively low rental rate indicates that landlords could face challenges in attracting tenants willing to pay the FMR. Landlords and small-portfolio investors should carefully consider these factors before deciding to participate in the Section 8 program in this ZIP code.
Data Sources: FMR data from HUD (2027). 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.