Section 8 Fair Market Rent (FMR) for ZIP 04454 - 2027

Location: Washington County, ME | Metro: Washington County, ME

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$930
1 Bedroom	$950
2 Bedrooms	$1,230
3 Bedrooms	$1,640
4 Bedrooms	$1,880
5 Bedrooms	$2,181
6 Bedrooms	$2,443
7 Bedrooms	$2,638
8 Bedrooms	$2,770

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

18.8%

Renter Occupied

The town of West Greenwich, Rhode Island, represented by ZIP code 04454, is a quiet suburban area known for its peaceful living conditions and close-knit community. Despite its small size and limited housing stock, it's important for real estate investors to understand the dynamics of the rental and housing market here.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metropolitan area for fiscal year 2026 is set at $1,250. This figure represents the maximum amount that a low-income household should pay for housing.
The market rent for properties in this ZIP code is currently N/A, indicating a lack of available data on what tenants are actually paying in the private sector.
The median home value in West Greenwich is also listed as N/A, suggesting there might be insufficient data to calculate an accurate median value for residential properties.
The percentage of renters in West Greenwich is 0.0%, which implies that virtually all residents are homeowners, making the rental market nearly non-existent.
The days on market (DOM) for listings is N/A, meaning there is no recent data available on how long properties typically stay on the market before selling.
The median income for households in this area is N/A, reflecting a lack of detailed economic data specific to this ZIP code.

Given the scarcity of data points for West Greenwich, it's evident that the rental market is underdeveloped due to the overwhelmingly high owner-occupancy rate. The absence of recent market rent and median home value data suggests that investment opportunities in this area might be limited, especially considering the lack of detailed economic indicators. For potential investors, the focus should be on understanding the local real estate trends and possibly looking into adjacent areas with more robust data for comparative analysis. The Fair Market Rent figure can serve as a baseline for affordable housing considerations, but it doesn't reflect the broader market dynamics in a meaningful way given the town's unique characteristics.

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.