FMR is below market; voucher rent may lag private rents.
0.83
2 BR
2 BR
0.84ratio
FMR$2,510
Market$2,990
vs market-$480
FMR is below market; voucher rent may lag private rents.
0.84
3 BR
3 BR
0.99ratio
FMR$3,070
Market$3,100
vs market-$30
FMR is near market; voucher and private rents are aligned.
0.99
4 BR
4 BR
0.91ratio
FMR$3,490
Market$3,830
vs market-$340
FMR is near market; voucher and private rents are aligned.
0.91
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 02912 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 02912 (Providence, RI) is $2,510 a month. That is up 6.8% from $2,350 in FY 2026. Providence 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, 02912 has the 3rd-highest two-bedroom rent (county range $1,560–$2,720). The median county two-bedroom FMR in Rhode Island is $1,879, so ZIP 02912 is 34% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 02912
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,780
$1,900
+6.7%
$1,710–$2,090
1BR
$1,900
$2,020
+6.3%
$1,818–$2,222
2BR
$2,350
$2,510
+6.8%
$2,259–$2,761
3BR
$2,840
$3,070
+8.1%
$2,763–$3,377
4BR
$3,370
$3,490
+3.6%
$3,141–$3,839
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 02912
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,900
$2,020
$2,510
$3,070
$3,490
FY 2026
$1,780
$1,900
$2,350
$2,840
$3,370
FY 2025
$1,640
$1,760
$2,150
$2,590
$3,140
FY 2024
$1,700
$1,850
$2,240
$2,710
$3,350
FY 2023
$1,080
$1,220
$1,460
$1,800
$2,210
Two-bedroom rent in nearby Providence County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 02912?
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 $2,510 it would be $2,259 to $2,761. 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 02912 in?
ZIP 02912 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 02912 for FY 2027?
The two-bedroom FMR rose 6.8%, from $2,350 in FY 2026 to $2,510 in FY 2027. Since FY 2023 it has risen 71.9%.
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