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RI/Kent County/West Warwick

West Warwick, RI

CitySAFMR
Kent County
Found 1 ZIP

City Median Investment Score

86Below average

095130300
BRFMR
Eff. Rent
0 BR$1,370$1,510
1 BR$1,450$1,600
2 BR$1,810$1,990
3 BR$2,220$2,440
4 BR$2,520$2,490
5 BR$2,898Not available
6 BR$3,333Not available
7 BR$3,833Not available
8 BR$4,407Not available

Purchase Price Calculator

Maximum purchase price
$233,797

Cost breakdown

+Likely effective rent$1,990
HUD FMR$1,810
Market rent$2,240
Est. payment standard (110%)Used$1,990
-Principal and interest-$1,182
Loan amount$187,037
Down payment$46,759
Rate6.50%
Term30 years
-Operating costs-$608
Property taxes-$234
Insurance-$175
Utilities$0
HOA$0
Management-$199
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,878(68.2% ROI)
Projected value
$251,773
Return breakdown
Property appreciation+$17,977
Loan principal paid down+$6,701
Rental cash flow+$7,200
5-year hold
+$54,673(116.9% ROI)
Projected value
$264,519
Return breakdown
Property appreciation+$30,723
Loan principal paid down+$11,950
Rental cash flow+$12,000
10-year hold
+$117,957(252.3% ROI)
Projected value
$299,280
Return breakdown
Property appreciation+$65,483
Loan principal paid down+$28,474
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.81
1 BR
0.80
2 BR
0.81
3 BR
0.86
4 BR
1.01
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

West Warwick, RI fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in West Warwick, RI is $1,810 a month. That is up 7.7% from $1,680 in FY 2026. West Warwick is in the Providence-Fall River, RI-MA HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,879. The median county two-bedroom FMR in Rhode Island is $1,879, so West Warwick is 4% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for West Warwick, RI
BedroomsFY 2027Change90–110% range
Studio$1,370+7.0%$1,233–$1,507
1BR$1,450+6.6%$1,305–$1,595
2BR$1,810+7.7%$1,629–$1,991
3BR$2,220+9.4%$1,998–$2,442
4BR$2,520+4.6%$2,268–$2,772

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for West Warwick, RI
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,370$1,450$1,810$2,220$2,520
FY 2026$1,280$1,360$1,680$2,030$2,410
FY 2025$1,220$1,310$1,600$1,930$2,340
FY 2024$1,290$1,400$1,690$2,040$2,530
FY 2023$1,130$1,240$1,490$1,810$2,240

Questions about West Warwick, RI rents

How much will Section 8 pay for a two-bedroom in West Warwick, RI?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,879, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,691 to $2,067 a month; under the ZIP-level Small Area FMR of $1,810 it would be $1,629 to $1,991. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is West Warwick, RI in?

West Warwick, RI is in the Providence-Fall River, RI-MA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,879.

How much did fair market rent change in West Warwick, RI for FY 2027?

The two-bedroom FMR rose 7.7%, from $1,680 in FY 2026 to $1,810 in FY 2027. Since FY 2023 it has risen 21.5%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set