FY2027 Small Area FMR · Hope, RI

ZIP 02831 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 02831 (Hope, RI) is $2,470 a month, up 6.5% from FY2026. That is 31% above the Providence-Fall River, RI-MA area-wide FMR of $1,879.

2-bedroom SAFMR$2,470per month ▲ 6.5%

Area-wide 2 BR FMR$1,879Providence-Fall River, RI-MA

Rank in the area17thof 102 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,223

2 BR Small Area FMR$2,470

110% of SAFMR$2,717

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,870▲ 5.6%

1 BR$1,980▲ 5.3%

2 BR$2,470▲ 6.5%

3 BR$3,030▲ 8.2%

4 BR$3,440▲ 3.3%

FY2027 FY2026

Where 02831 sits in the Providence-Fall River, RI-MA area

Of the 102 ZIP codes HUD lists for the area, 02831 has the 17th highest two-bedroom Small Area FMR. Providence-Fall River, RI-MA is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,879 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,470 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,870	$1,683 – $2,057	$1,423	$1,770
1 bedroom	$1,980	$1,782 – $2,178	$1,509	$1,880
2 bedrooms	$2,470	$2,223 – $2,717	$1,879	$2,320
3 bedrooms	$3,030	$2,727 – $3,333	$2,302	$2,800
4 bedrooms	$3,440	$3,096 – $3,784	$2,615	$3,330

A household renting a two-bedroom home at the Small Area FMR of $2,470 needs about $98,800 a year to keep housing costs at 30% of income. The area median family income is $112,100 and the 80% low-income limit for four people is $89,700. ZIP code 02831 lies mainly in Providence County and Kent County. See the Providence-Fall River, RI-MA metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
02815	Clayville	2.1 mi	$2,100
02857	North Scituate	3.9 mi	$2,080
02823	Fiskeville	4.1 mi	$2,320
02921	Cranston	4.8 mi	$2,150
02816	Coventry	5.1 mi	$1,820
02919	Johnston	6.0 mi	$1,890

Questions

What is the Fair Market Rent for ZIP code 02831?

HUD's FY2027 Small Area Fair Market Rents for 02831 are $1,870 (studio), $1,980 (1 BR), $2,470 (2 BR), $3,030 (3 BR) and $3,440 (4 BR) a month.

What is the Section 8 payment standard in 02831?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 02831 that range is $2,223 to $2,717 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 02831?

The FY2026 income limits of the Providence-Fall River, RI-MA area apply: median family income $112,100, low-income (80%) limit $89,700 for a family of four.