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Kent County/Greene/02827

02827

ZIPSAFMR
Kent County, RI
Zillow

ZIP Investment Score

96Above average

095130300
BRFMR
Eff. Rent
0 BR$2,140$2,140
1 BR$2,260$2,260
2 BR$2,820$2,820
3 BR$3,450$3,450
4 BR$3,920$3,920
5 BR$4,508Not available
6 BR$5,184Not available
7 BR$5,962Not available
8 BR$6,856Not available

Purchase Price Calculator

Maximum purchase price
$357,134

Cost breakdown

+Likely effective rent$2,820
HUD FMRUsed$2,820
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,806
Loan amount$285,707
Down payment$71,427
Rate6.50%
Term30 years
-Operating costs-$814
Property taxes-$357
Insurance-$175
Utilities$0
HOA$0
Management-$282
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$44,896(62.9% ROI)
Projected value
$384,595
Return breakdown
Property appreciation+$27,460
Loan principal paid down+$10,236
Rental cash flow+$7,200
5-year hold
+$77,184(108.1% ROI)
Projected value
$404,065
Return breakdown
Property appreciation+$46,930
Loan principal paid down+$18,254
Rental cash flow+$12,000
10-year hold
+$167,524(234.5% ROI)
Projected value
$457,162
Return breakdown
Property appreciation+$100,028
Loan principal paid down+$43,496
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 02827 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02827 (Greene, RI) is $2,820 a month. That is up 8.9% from $2,590 in FY 2026. Greene 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. Among 12 ZIP codes in Kent County, 02827 is tied for the highest two-bedroom rent (county range $1,760–$2,820). The median county two-bedroom FMR in Rhode Island is $1,879, so ZIP 02827 is 50% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 02827
BedroomsFY 2027Change90–110% range
Studio$2,140+8.6%$1,926–$2,354
1BR$2,260+7.6%$2,034–$2,486
2BR$2,820+8.9%$2,538–$3,102
3BR$3,450+10.2%$3,105–$3,795
4BR$3,920+5.4%$3,528–$4,312

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 02827
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,140$2,260$2,820$3,450$3,920
FY 2026$1,970$2,100$2,590$3,130$3,720
FY 2025$1,370$1,470$1,810$2,190$2,660
FY 2024$1,450$1,580$1,900$2,320$2,860
FY 2023$1,600$1,750$2,110$2,570$3,170

Two-bedroom rent in nearby Kent County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 02827
02816$1,820−35.5%
02817$2,8200.0%
02818$2,070−26.6%
02822$1,980−29.8%
02827Current$2,820—
02831$2,470−12.4%
02852$1,920−31.9%
02886$2,150−23.8%
02887$1,930−31.6%
02888$1,760−37.6%
02889$1,990−29.4%
02893$1,810−35.8%

Questions about ZIP 02827 rents

How much will Section 8 pay for a two-bedroom in ZIP 02827?

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 $2,820 it would be $2,538 to $3,102. 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 ZIP 02827 in?

ZIP 02827 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 ZIP 02827 for FY 2027?

The two-bedroom FMR rose 8.9%, from $2,590 in FY 2026 to $2,820 in FY 2027. Since FY 2023 it has risen 33.6%.

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

County fair market rentGreene, RI fair market rentRI statewide rentsWhat is SAFMR?Data sources