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

Smithfield, RI 02917'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 02917 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 $963 to a high of $1,177, with an average of $1,070.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,044, a maximum of $1,276, and an average of $1,160.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,260, peaking at a maximum of $1,540, and averaging at $1,400.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,521, a maximum of $1,859, and an average of $1,690.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,890 to a maximum of $2,310, with an average of $2,100.

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 Smithfield, RI 2917 Low Rent (90%) $963 $1,044 $1,260 $1,521 $1,890
Average Rent $1,070 $1,160 $1,400 $1,690 $2,100
High Rent(110%) $1,177 $1,276 $1,540 $1,859 $2,310
2023 Smithfield, RI 2917 Low Rent (90%) $828 $909 $1,089 $1,323 $1,638
Average Rent $920 $1,010 $1,210 $1,470 $1,820
High Rent (110%) $1,012 $1,111 $1,331 $1,617 $2,002
2022 Smithfield, RI 2917 Low Rent (90%) $738 $828 $999 $1,233 $1,512
Average Rent $820 $920 $1,110 $1,370 $1,680
High Rent(110%) $902 $1,012 $1,221 $1,507 $1,848
2021 Smithfield, RI 2917 Low Rent (90%) $702 $783 $945 $1,179 $1,413
Average Rent $780 $870 $1,050 $1,310 $1,570
High Rent (110%) $858 $957 $1,155 $1,441 $1,727
2020 Smithfield, RI 2917 Low Rent (90%) $702 $801 $954 $1,188 $1,413
Average Rent $780 $890 $1,060 $1,320 $1,570
High Rent(110%) $858 $979 $1,166 $1,452 $1,727
2019 Smithfield, RI 2917 Low Rent (90%) $720 $819 $972 $1,215 $1,431
Average Rent $800 $910 $1,080 $1,350 $1,590
High Rent (110%) $880 $1,001 $1,188 $1,485 $1,749


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