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 | $1,450 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,920 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,670 |
| 5 Bedrooms | $3,097 |
| 6 Bedrooms | $3,469 |
| 7 Bedrooms | $3,747 |
| 8 Bedrooms | $3,934 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,540 | $356,658 | 0.43% | F |
| 2BR | $1,920 | $519,837 | 0.37% | F |
| 3BR | $2,350 | $624,085 | 0.38% | F |
| 4BR | $2,670 | $894,538 | 0.3% | F |
| 5BR | $3,097 | $1,071,357 | 0.29% | F |
U.S. Census Bureau data (2024)
The ZIP code 02852, located in North Kingstown, RI, stands out within Washington County due to its unique demographic and economic profile. With a population of 23,406 residents, it has a rental rate of 27.8%, indicating a moderate reliance on rental housing. The median income in the area is $118,643, reflecting a higher-than-average earning potential compared to national standards. Additionally, the median home value of $626,294 suggests a significant investment in residential property, making it an attractive location for homeownership.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 02852 in fiscal year 2024 is set at $1,840. This figure is notably lower than the market rent, which is measured at $2,535 using the ZORI (Zillow Observed Rent Index). This discrepancy means that landlords who accept Section 8 vouchers will receive less rent than they might from market-rate tenants. However, the stability of income provided by government-backed vouchers can be appealing to landlords seeking consistent cash flow.
The data signature for ZIP 02852 reads as stable. The relatively high median income supports a steady demand for both rental and owned properties. The median home value also indicates a robust local economy capable of sustaining property values. While the rental market shows a slight preference towards ownership, the presence of a substantial number of renters ensures that there is still a considerable segment of the population interested in affordable housing solutions. This balance between homeowners and renters, combined with the economic indicators, suggests a stable environment for both small-portfolio investors and landlords.
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.