ZIP 02747 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 02747 in the Providence-Fall River, RI-MA FMR area.

Providence-Fall River, RI-MA

$1,700Efficiency
$1,7201 bedroom
$2,1902 bedrooms
$2,6203 bedrooms
$3,2904 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,700$1,530$1,870$1,423
1 bedroom$1,720$1,548$1,892$1,509
2 bedrooms$2,190$1,971$2,409$1,879
3 bedrooms$2,620$2,358$2,882$2,302
4 bedrooms$3,290$2,961$3,619$2,615

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

New Bedford, MA

$1,700Efficiency
$1,7201 bedroom
$2,1902 bedrooms
$2,6203 bedrooms
$3,2904 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,700$1,530$1,870$1,297
1 bedroom$1,720$1,548$1,892$1,305
2 bedrooms$2,190$1,971$2,409$1,668
3 bedrooms$2,620$2,358$2,882$1,987
4 bedrooms$3,290$2,961$3,619$2,524

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 02747

$93,180average adjusted gross income per tax return (2022)
$62,947average salaries and wages per return
9,960tax returns filed
28%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00023.8%
$25,000 to $50,00018.9%
$50,000 to $75,00014.8%
$75,000 to $100,00010.8%
$100,000 to $200,00023.3%
$200,000 or more8.4%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 7.2% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 02747?

HUD's FY2027 Small Area FMRs for ZIP 02747 (Providence-Fall River, RI-MA) are $1,700 efficiency, $1,720 one bedroom, $2,190 two bedrooms, $2,620 three and $3,290 four bedrooms.

What payment standard can a housing authority set in ZIP 02747?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,971 to $2,409.

How affordable is rent in ZIP 02747?

Tax returns filed from ZIP 02747 reported an average adjusted gross income of $93,180 (2022). A two-bedroom unit at the Small Area FMR costs $26,280 a year, or 28% of that income.