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Providence County/Oakland/02858

02858

ZIPSAFMR
Providence County, RI
Zillow

ZIP Investment Score

59Below average

095130300
BRFMR
Eff. Rent
0 BR$1,200$1,320
1 BR$1,270$1,400
2 BR$1,580$1,740
3 BR$1,940$2,130
4 BR$2,240$2,300
5 BR$2,576Not available
6 BR$2,962Not available
7 BR$3,407Not available
8 BR$3,918Not available

Purchase Price Calculator

Maximum purchase price
$196,647

Cost breakdown

+Likely effective rent$1,740
HUD FMR$1,580
Market rent$2,440
Est. payment standard (110%)Used$1,740
-Principal and interest-$994
Loan amount$157,317
Down payment$39,329
Rate6.50%
Term30 years
-Operating costs-$546
Property taxes-$197
Insurance-$175
Utilities$0
HOA$0
Management-$174
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,957(71.1% ROI)
Projected value
$211,767
Return breakdown
Property appreciation+$15,120
Loan principal paid down+$5,636
Rental cash flow+$7,200
5-year hold
+$47,892(121.8% ROI)
Projected value
$222,488
Return breakdown
Property appreciation+$25,841
Loan principal paid down+$10,051
Rental cash flow+$12,000
10-year hold
+$103,028(262.0% ROI)
Projected value
$251,725
Return breakdown
Property appreciation+$55,078
Loan principal paid down+$23,950
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.65
1 BR
0.66
2 BR
0.65
3 BR
0.85
4 BR
0.96
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 02858 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02858 (Oakland, RI) is $1,580 a month. That is up 6.8% from $1,480 in FY 2026. Oakland 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, 02858 has the 44th-highest two-bedroom rent (county range $1,560–$2,720). The median county two-bedroom FMR in Rhode Island is $1,879, so ZIP 02858 is 16% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 02858
BedroomsFY 2027Change90–110% range
Studio$1,200+5.3%$1,080–$1,320
1BR$1,270+5.8%$1,143–$1,397
2BR$1,580+6.8%$1,422–$1,738
3BR$1,940+8.4%$1,746–$2,134
4BR$2,240+5.2%$2,016–$2,464

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 02858
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,200$1,270$1,580$1,940$2,240
FY 2026$1,140$1,200$1,480$1,790$2,130
FY 2025$1,170$1,260$1,530$1,850$2,290
FY 2024$1,200$1,300$1,570$1,900$2,350
FY 2023$1,130$1,250$1,500$1,830$2,250

Two-bedroom rent in nearby Providence County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 02858
02838$1,970+24.7%
02839$2,220+40.5%
02857$2,080+31.6%
02858Current$1,580—
02859$1,760+11.4%
02860$1,720+8.9%
02861$1,770+12.0%
02862$1,890+19.6%
02863$1,650+4.4%
02864$1,820+15.2%
02865$1,920+21.5%
02876$2,720+72.2%

Questions about ZIP 02858 rents

How much will Section 8 pay for a two-bedroom in ZIP 02858?

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 $1,580 it would be $1,422 to $1,738. 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 02858 in?

ZIP 02858 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 02858 for FY 2027?

The two-bedroom FMR rose 6.8%, from $1,480 in FY 2026 to $1,580 in FY 2027. Since FY 2023 it has risen 5.3%.

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