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 | $1,430 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,630 |
| 5 Bedrooms | $3,051 |
| 6 Bedrooms | $3,417 |
| 7 Bedrooms | $3,690 |
| 8 Bedrooms | $3,875 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,520 | $280,781 | 0.54% | F |
| 2BR | $1,890 | $370,977 | 0.51% | F |
| 3BR | $2,320 | $477,326 | 0.49% | F |
| 4BR | $2,630 | $540,818 | 0.49% | F |
| 5BR | $3,051 | $565,435 | 0.54% | F |
U.S. Census Bureau data (2024)
1670 is the Fair Market Rent (FMR) for ZIP code 02919, Johnston, RI, as set by HUD for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 voucher. In contrast, the market rent for the same area, known as the ZORI, stands at 1719, indicating a slight premium over the FMR for unsubsidized units. The median home value in Johnston is 445376, reflecting a stable housing market where property values are relatively high but manageable. With a 24.1% share of renters in the area, there is a notable demand for rental properties, although it's not overwhelming. The median income of 91775 suggests that residents have sufficient financial means to cover housing costs, including those who might rely on Section 8 vouchers. A 13-day DOM, or Days on Market, shows that listings are moving quickly, which is positive for landlords looking to minimize vacancy periods. However, the 0.2% price-cut share indicates that very few landlords are having to reduce their asking prices to attract tenants, a sign of a robust rental market.
In summary, Johnston, RI, presents a favorable environment for landlords participating in the Section 8 program. The close alignment between the FMR and market rents, combined with a solid median income level and brisk rental activity, supports the conclusion that this ZIP code is suitable for Section 8 investments. Landlords can expect steady demand and reasonable returns without significant concessions on pricing. The verdict for Section 8 in Johnston, RI, is positive.
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.