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

Investment Score for ZIP 02911

Monthly Rent (2BR)

$2,140

Median Price (2BR)

$351,165

1% Rule

0.61%

Annual Yield

7.31%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,720	$241,005	0.71%	D
2BR	$2,140	$351,165	0.61%	D
3BR	$2,620	$445,077	0.59%	F
4BR	$2,980	$485,439	0.61%	D
5BR	$3,457	$550,312	0.63%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

15,653

Median Household Income

$89,456

Housing Units

7,136

Renter Percentage

32.2%

Occupancy Rate

96.7%

Renter Occupied

2,223

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). 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.