FY2027 Small Area FMR · Providence, RI

ZIP 02905 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 02905 (Providence, RI) is $1,810 a month, up 6.5% from FY2026. That is 4% below the Providence-Fall River, RI-MA area-wide FMR of $1,879.

2-bedroom SAFMR$1,810per month ▲ 6.5%

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

Rank in the area75thof 102 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,629

2 BR Small Area FMR$1,810

110% of SAFMR$1,991

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

Studio$1,370▲ 5.4%

1 BR$1,450▲ 5.1%

2 BR$1,810▲ 6.5%

3 BR$2,220▲ 8.3%

4 BR$2,520▲ 3.3%

FY2027 FY2026

Where 02905 sits in the Providence-Fall River, RI-MA area

Of the 102 ZIP codes HUD lists for the area, 02905 has the 75th 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 $1,810 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	$1,370	$1,233 – $1,507	$1,423	$1,300
1 bedroom	$1,450	$1,305 – $1,595	$1,509	$1,380
2 bedrooms	$1,810	$1,629 – $1,991	$1,879	$1,700
3 bedrooms	$2,220	$1,998 – $2,442	$2,302	$2,050
4 bedrooms	$2,520	$2,268 – $2,772	$2,615	$2,440

A household renting a two-bedroom home at the Small Area FMR of $1,810 needs about $72,400 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 02905 lies mainly in Providence 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
02907	Providence	1.8 mi	$1,730
02910	Cranston	2.1 mi	$1,940
02915	Riverside	2.3 mi	$2,190
02903	Providence	2.4 mi	$2,630
02888	Warwick	2.6 mi	$1,760
02914	East Providence	2.6 mi	$1,920

Questions

What is the Fair Market Rent for ZIP code 02905?

HUD's FY2027 Small Area Fair Market Rents for 02905 are $1,370 (studio), $1,450 (1 BR), $1,810 (2 BR), $2,220 (3 BR) and $2,520 (4 BR) a month.

What is the Section 8 payment standard in 02905?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 02905 that range is $1,629 to $1,991 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 02905?

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.