Section 8 Fair Market Rent (FMR) for ZIP 02826 - 2027

Location: Providence-Fall River, RI | Metro: Providence-Fall River, RI-MA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,190
1 Bedroom	$1,270
2 Bedrooms	$1,560
3 Bedrooms	$1,880
4 Bedrooms	$2,240
5 Bedrooms	$2,598
6 Bedrooms	$2,910
7 Bedrooms	$3,143
8 Bedrooms	$3,300

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

831

Median Household Income

$78,843

Housing Units

434

Renter Percentage

21.0%

Occupancy Rate

90.1%

Renter Occupied

The ZIP code 02826, located in West Warwick, Rhode Island, offers a unique blend of suburban living with easy access to urban amenities. The area is characterized by its diverse housing stock and a mix of residential and commercial developments, making it an attractive location for both residents and investors.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 02826 for fiscal year 2024 is set at $1560. This figure represents the maximum amount that low-income families should pay for housing under the Section 8 program.
Renters make up 21.0% of the population in this ZIP code, indicating a significant demand for rental properties. However, the exact market rent price is currently unavailable, which suggests that the local rental market might be less active or less tracked compared to other areas.
The median household income in ZIP 02826 is $78,843, providing insight into the financial stability of potential tenants and buyers. This income level supports a moderate rental market but may also indicate a competitive landscape for property investments.
The median home value in this ZIP code is currently not available, which can make it challenging to assess the overall real estate market value. Nonetheless, the lack of a median home value does not necessarily imply a weak market, as it could be due to a variety of factors such as a smaller sample size or recent changes in the housing stock.
The Days on Market (DOM) for properties in ZIP 02826 is not available, suggesting that there is limited data on how quickly homes are selling. This could indicate a slower moving market or a need for more detailed local real estate reports to accurately gauge the speed of transactions.

In summary, ZIP 02826 presents a viable investment opportunity for landlords and small-portfolio investors, particularly in the rental sector, given the established Fair Market Rent and the substantial share of renters in the area. The moderate median income supports stable tenant payments, although the absence of specific market rent and median home value data means that further research is necessary to fully understand the dynamics of the real estate market. Additionally, the lack of Days on Market data points to a potentially steady, if not slow-moving, market for property sales. Investors should focus on acquiring properties that align with the Fair Market Rent guidelines and target the significant renter demographic for optimal returns.

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.