FY2027 Small Area FMR · Newport, RI

ZIP 02840 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 02840 (Newport, RI) is $2,480 a month, up 4.2% from FY2026. That is 1% below the Newport-Middleton-Portsmouth, RI area-wide FMR of $2,507.

2-bedroom SAFMR$2,480per month ▲ 4.2%

Area-wide 2 BR FMR$2,507Newport-Middleton-Portsmouth

Rank in the area2ndof 6 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,232

2 BR Small Area FMR$2,480

110% of SAFMR$2,728

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

Studio$1,880▲ 4.4%

1 BR$1,900▲ 5.0%

2 BR$2,480▲ 4.2%

3 BR$3,290▲ 2.2%

4 BR$3,940▲ 6.5%

FY2027 FY2026

Where 02840 sits in the Newport-Middleton-Portsmouth, RI area

Of the 6 ZIP codes HUD lists for the area, 02840 has the 2nd highest two-bedroom Small Area FMR. Newport-Middleton-Portsmouth, RI 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 $2,507 for two bedrooms; an agency that opts in to Small Area FMRs would use $2,480 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	$1,880	$1,692 – $2,068	$1,904	$1,800
1 bedroom	$1,900	$1,710 – $2,090	$1,916	$1,810
2 bedrooms	$2,480	$2,232 – $2,728	$2,507	$2,380
3 bedrooms	$3,290	$2,961 – $3,619	$3,327	$3,220
4 bedrooms	$3,940	$3,546 – $4,334	$3,981	$3,700

A household renting a two-bedroom home at the Small Area FMR of $2,480 needs about $99,200 a year to keep housing costs at 30% of income. The area median family income is $137,700 and the 80% low-income limit for four people is $107,900. ZIP code 02840 lies mainly in Newport County. See the Newport-Middleton-Portsmouth, RI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
02841	Newport	2.4 mi	$2,480
02842	Middletown	3.5 mi	$2,590
02835	Jamestown	3.8 mi	$2,750
02871	Portsmouth	8.2 mi	$2,430
02872	Prudence Island	8.3 mi	$2,450
02837	Little Compton	8.3 mi	$2,820

Questions

What is the Fair Market Rent for ZIP code 02840?

HUD's FY2027 Small Area Fair Market Rents for 02840 are $1,880 (studio), $1,900 (1 BR), $2,480 (2 BR), $3,290 (3 BR) and $3,940 (4 BR) a month.

What is the Section 8 payment standard in 02840?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 02840 that range is $2,232 to $2,728 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 02840?

The FY2026 income limits of the Newport-Middleton-Portsmouth, RI area apply: median family income $137,700, low-income (80%) limit $107,900 for a family of four.