Section 8 Fair Market Rent (FMR) for ZIP 02911 - 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 | $1,620 |
| 1 Bedroom | $1,720 |
| 2 Bedrooms | $2,140 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $2,980 |
| 5 Bedrooms | $3,457 |
| 6 Bedrooms | $3,872 |
| 7 Bedrooms | $4,182 |
| 8 Bedrooms | $4,391 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$89,456
Housing Authorities Serving ZIP 02911
- Housing Authority Providence (Providence, RI) - 2,674 Section 8 vouchers
- Rhode Island Housing (Providence, RI) - 2,010 Section 8 vouchers
- Housing Authority of the City of Pawtucket (Pawtucket, RI) - 800 Section 8 vouchers
- Woonsocket Housing Authority (Woonsocket, RI) - 740 Section 8 vouchers
- Central Falls Housing Authority (Central Falls, RI) - 598 Section 8 vouchers
- East Providence Housing Authority (East Providence, RI) - 470 Section 8 vouchers
- Cumberland Housing Authority (Cumberland, RI) - 384 Section 8 vouchers
- North Providence Housing Authority (North Providence, RI) - 272 Section 8 vouchers
- Cranston Housing Authority (Cranston, RI) - 262 Section 8 vouchers
- Johnston Housing Authority (Johnston, RI) - 209 Section 8 vouchers
The ZIP code 02911, located in North Providence, Rhode Island, offers a stable and attractive market for real estate investors, particularly those interested in Section 8 properties. The area is characterized by a mix of residential neighborhoods, making it an ideal location for both homeowners and renters.
- The Fair Market Rent (FMR) for ZIP 02911 in fiscal year 2024 is set at $1,780, which aligns closely with the market rent of $1,777 as indicated by ZORI (Zillow Observed Rent Index).
- The median home value in the area stands at $413,399, reflecting a moderate housing market that is neither overly expensive nor cheap.
- Renters make up a significant portion of the local housing market, with a 32.2% renter share, indicating a robust demand for rental properties.
- The median household income in ZIP 02911 is $89,456, providing evidence of a middle-class community capable of supporting various levels of rental pricing.
- The data does not provide a specific number for days on market (DOM), but given the close alignment between FMR and market rent, it suggests a balanced market where properties are likely to be rented out efficiently.
In summary, North Providence presents a favorable investment landscape for landlords and small-portfolio investors. The near parity between the FMR and market rent signals a competitive yet stable rental environment. With a substantial renter share and a median income that supports rental affordability, the area is poised for steady returns. The absence of a high DOM figure implies efficient property turnover, further enhancing the attractiveness of this market for those seeking reliable rental investments.
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.