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Providence County/Greenville/02828

02828

ZIPSAFMR
Providence County, RI
Zillow

ZIP Investment Score

79Below average

095130300
BRFMR
Eff. Rent
0 BR$1,510$1,580
1 BR$1,610$1,730
2 BR$2,000$2,200
3 BR$2,450$2,700
4 BR$2,780$3,030
5 BR$3,197Not available
6 BR$3,677Not available
7 BR$4,228Not available
8 BR$4,862Not available

Purchase Price Calculator

Maximum purchase price
$265,003

Cost breakdown

+Likely effective rent$2,200
HUD FMR$2,000
Market rent$2,330
Est. payment standard (110%)Used$2,200
-Principal and interest-$1,340
Loan amount$212,002
Down payment$53,001
Rate6.50%
Term30 years
-Operating costs-$660
Property taxes-$265
Insurance-$175
Utilities$0
HOA$0
Management-$220
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$35,172(66.4% ROI)
Projected value
$285,379
Return breakdown
Property appreciation+$20,376
Loan principal paid down+$7,596
Rental cash flow+$7,200
5-year hold
+$60,368(113.9% ROI)
Projected value
$299,826
Return breakdown
Property appreciation+$34,824
Loan principal paid down+$13,545
Rental cash flow+$12,000
10-year hold
+$130,498(246.2% ROI)
Projected value
$339,226
Return breakdown
Property appreciation+$74,223
Loan principal paid down+$32,275
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.93
1 BR
0.89
2 BR
0.86
3 BR
0.81
4 BR
0.88
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 02828 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02828 (Greenville, RI) is $2,000 a month. That is up 10.5% from $1,810 in FY 2026. Greenville 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 47 ZIP codes in Providence County, 02828 has the 15th-highest two-bedroom rent (county range $1,560–$2,720). The median county two-bedroom FMR in Rhode Island is $1,879, so ZIP 02828 is 6% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 02828
BedroomsFY 2027Change90–110% range
Studio$1,510+9.4%$1,359–$1,661
1BR$1,610+9.5%$1,449–$1,771
2BR$2,000+10.5%$1,800–$2,200
3BR$2,450+11.9%$2,205–$2,695
4BR$2,780+6.9%$2,502–$3,058

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 02828
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,510$1,610$2,000$2,450$2,780
FY 2026$1,380$1,470$1,810$2,190$2,600
FY 2025$1,220$1,310$1,600$1,930$2,340
FY 2024$1,230$1,340$1,620$1,960$2,430
FY 2023$980$1,080$1,300$1,580$1,950

Two-bedroom rent in nearby Providence County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 02828
02814$1,710−14.5%
02815$2,100+5.0%
02823$2,320+16.0%
02824$1,750−12.5%
02825$2,120+6.0%
02826$1,560−22.0%
02828Current$2,000—
02829$1,710−14.5%
02830$1,560−22.0%
02831$2,470+23.5%
02838$1,970−1.5%
02839$2,220+11.0%

Questions about ZIP 02828 rents

How much will Section 8 pay for a two-bedroom in ZIP 02828?

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 $2,000 it would be $1,800 to $2,200. 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 02828 in?

ZIP 02828 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 02828 for FY 2027?

The two-bedroom FMR rose 10.5%, from $1,810 in FY 2026 to $2,000 in FY 2027. Since FY 2023 it has risen 53.8%.

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