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 | $1,300 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,710 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,370 | $314,563 | 0.44% | F |
| 2BR | $1,710 | $444,314 | 0.38% | F |
| 3BR | $2,090 | $546,644 | 0.38% | F |
| 4BR | $2,380 | $640,943 | 0.37% | F |
U.S. Census Bureau data (2024)
ZIP 02814, located in Glocester, RI, within the Providence-Fall River, RI-MA HUD Metro FMR Area, serves as a strong cash-flow anchor for a Section 8 portfolio strategy. The Family Monthly Rent (FMR) for FY 2024 is set at $1760, significantly higher than the market rent of $970 for the area. This spread ensures that landlords participating in the Section 8 program can secure rental income well above the local market rate, thereby enhancing their cash flow.
The median home value in ZIP 02814 stands at $490,004, which indicates a relatively stable housing market. However, the primary focus for a cash-flow anchor is the guaranteed rental income. With the FMR being $890 more per month than the typical market rent, this ZIP code provides a substantial cushion against potential market fluctuations and vacancies.
The renter share in Glocester is 8.1%, which is low compared to urban centers but still significant enough to ensure a steady demand for rental properties. Additionally, the median income of $110,764 suggests that residents have the financial stability to meet their obligations, reducing the risk of default on rental payments.
While there is no specific data provided regarding price-cut shares or days on market (DOM), the high FMR relative to the market rent makes ZIP 02814 less dependent on these metrics for success in a Section 8 portfolio. Landlords can rely on the government-subsidized rents to maintain profitability even if they occasionally need to adjust market rents downward to attract tenants.
In summary, ZIP 02814 should be considered a key component of a Section 8 portfolio strategy due to its role as a cash-flow anchor. The guaranteed higher rental income, combined with a stable median home value and solid median income levels, makes it an attractive option for landlords seeking consistent returns.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.