The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Providence, RI 02909's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 02909 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $1,062 to a high of $1,298, with an average of $1,180.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,152, a maximum of $1,408, and an average of $1,280.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,395, peaking at a maximum of $1,705, and averaging at $1,550.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,683, a maximum of $2,057, and an average of $1,870.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,088 to a maximum of $2,552, with an average of $2,320.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Providence, RI 2909 Low Rent (90%) $1,062 $1,152 $1,395 $1,683 $2,088
Average Rent $1,180 $1,280 $1,550 $1,870 $2,320
High Rent(110%) $1,298 $1,408 $1,705 $2,057 $2,552
2023 Providence, RI 2909 Low Rent (90%) $909 $999 $1,206 $1,467 $1,809
Average Rent $1,010 $1,110 $1,340 $1,630 $2,010
High Rent (110%) $1,111 $1,221 $1,474 $1,793 $2,211
2022 Providence, RI 2909 Low Rent (90%) $801 $900 $1,080 $1,332 $1,638
Average Rent $890 $1,000 $1,200 $1,480 $1,820
High Rent(110%) $979 $1,100 $1,320 $1,628 $2,002
2021 Providence, RI 2909 Low Rent (90%) $738 $828 $999 $1,242 $1,494
Average Rent $820 $920 $1,110 $1,380 $1,660
High Rent (110%) $902 $1,012 $1,221 $1,518 $1,826
2020 Providence, RI 2909 Low Rent (90%) $675 $765 $918 $1,143 $1,359
Average Rent $750 $850 $1,020 $1,270 $1,510
High Rent(110%) $825 $935 $1,122 $1,397 $1,661
2019 Providence, RI 2909 Low Rent (90%) $657 $747 $891 $1,116 $1,314
Average Rent $730 $830 $990 $1,240 $1,460
High Rent (110%) $803 $913 $1,089 $1,364 $1,606


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