ZIP 02748 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 02748 in the Providence-Fall River, RI-MA FMR area.

Providence-Fall River, RI-MA

$1,620Efficiency
$1,6401 bedroom
$2,0902 bedrooms
$2,4903 bedrooms
$3,1604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,620$1,458$1,782$1,423
1 bedroom$1,640$1,476$1,804$1,509
2 bedrooms$2,090$1,881$2,299$1,879
3 bedrooms$2,490$2,241$2,739$2,302
4 bedrooms$3,160$2,844$3,476$2,615

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

New Bedford, MA

$1,620Efficiency
$1,6401 bedroom
$2,0902 bedrooms
$2,4903 bedrooms
$3,1604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,620$1,458$1,782$1,297
1 bedroom$1,640$1,476$1,804$1,305
2 bedrooms$2,090$1,881$2,299$1,668
3 bedrooms$2,490$2,241$2,739$1,987
4 bedrooms$3,160$2,844$3,476$2,524

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

Income in ZIP 02748

$146,056average adjusted gross income per tax return (2022)
$69,158average salaries and wages per return
6,250tax returns filed
17%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00022.1%
$25,000 to $50,00017.3%
$50,000 to $75,00014.7%
$75,000 to $100,00011.2%
$100,000 to $200,00021.0%
$200,000 or more13.8%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 6.1% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 02748?

HUD's FY2027 Small Area FMRs for ZIP 02748 (Providence-Fall River, RI-MA) are $1,620 efficiency, $1,640 one bedroom, $2,090 two bedrooms, $2,490 three and $3,160 four bedrooms.

What payment standard can a housing authority set in ZIP 02748?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,881 to $2,299.

How affordable is rent in ZIP 02748?

Tax returns filed from ZIP 02748 reported an average adjusted gross income of $146,056 (2022). A two-bedroom unit at the Small Area FMR costs $25,080 a year, or 17% of that income.