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Housing market/Rhode Island/ZIP 02863

ACS 2023 · FY2027 SAFMR

ZIP 02863 Central Falls, Rhode Island

Providence-Fall River, RI-MA HUD Metro FMR Area · Rhode Island. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
22,481
Households
7,487
Median HH income
$45,921
Renter share
71.4%
Median gross rent
$1,118
Vacancy
10.2%
Pop. change
+16.2%
2BR SAFMR
$1,650
SAFMR / rent
1.476×
2–49 unit stock
6,098
LIHTC proj / units
4 / 197
HUD assisted MF
6 / 330

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 02863 · RI — sent to you.

ZIP 02863 · RI

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ACS rent vs 2BR SAFMR

ZIP 02863 — Central Falls, RI HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,118
2BR SAFMR$1,650
90% floor$1,485
110% ceiling$1,815

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 02863

  • 1-unit detached98111.8%
  • 1-unit attached4175.0%
  • 2–4 units5,45465.4%
  • 5–49 units6447.7%
  • 50+ units84510.1%
TypeUnitsShare
1-unit detached98111.8%
1-unit attached4175.0%
2 units (duplex)1,76821.2%
3–4 units3,68644.2%
5–9 units5566.7%
10–19 units580.7%
20–49 units300.4%
50+ units84510.1%
Mobile00.0%

2–4 unit share 65.4% · 5–49 unit share 7.7% · combined 2–49 73.1%.

Units by bedrooms

Studio
207
1BR
1,377
2BR
2,774
3BR
3,409
4BR
492
5+
82

Rent burden

Rent ≥30% of income56.7%
Rent ≥50% of income22.6%
  • ACS median gross rent $1,118 (all bedrooms, occupied rentals).
  • Median contract rent $954.
  • Renters paying ≥30% of income 56.7%; ≥50% 22.6%.
  • FY2027 2BR SAFMR $1,650 (1.476× ACS median gross rent).

Population

22,481 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +16.2%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 4 projects, 197 units.
  • HUD project-based assisted MF: 6 properties, 330 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 438 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 02863 71.4% of occupied households are renters; vacancy is 10.2%; ACS median gross rent is $1,118; population increased +16.2% between the 2018 and 2023 ACS vintages; the housing stock includes 5,454 units in 2–4-unit structures and 644 units in 5–49-unit structures; 4 LIHTC projects totaling 197 units; FY2027 2BR SAFMR is $1,650 versus ACS median gross rent of $1,118. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Rhode Island research

ZIP 02863 is a Census / HUD profile for Providence-Fall River, RI-MA, RI. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 02863 — Central Falls, RI HUD Section 8 Payment Standards / SAFMR·Rhode Island ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
02703Providence-Fall River, RI-MA HUD Metro FMR Area33.9%$1,446$2,14002720Providence-Fall River, RI-MA HUD Metro FMR Area60.3%$1,177$1,80002721Providence-Fall River, RI-MA HUD Metro FMR Area65.3%$1,010$1,56002722Providence-Fall River, RI-MA HUD Metro FMR Area——$1,80002723Providence-Fall River, RI-MA HUD Metro FMR Area67.6%$1,058$1,66002724Providence-Fall River, RI-MA HUD Metro FMR Area66.0%$1,105$1,69002725Providence-Fall River, RI-MA HUD Metro FMR Area1.5%—$1,79002726Providence-Fall River, RI-MA HUD Metro FMR Area17.3%$1,316$1,89002760Providence-Fall River, RI-MA HUD Metro FMR Area28.7%$1,386$2,65002761Providence-Fall River, RI-MA HUD Metro FMR Area——$1,80002763Providence-Fall River, RI-MA HUD Metro FMR Area30.6%$1,692$2,00002769Providence-Fall River, RI-MA HUD Metro FMR Area9.3%$1,304$1,660

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Rhode Island research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 02863?

ZIP 02863 (Providence-Fall River, RI-MA HUD Metro FMR Area) has 22,481 residents, 7,487 households, a renter share of 71.4%, median household income of $45,921, and ACS 2023 median gross rent of $1,118. Vacancy is 10.2%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 02863?

ACS counts 1,768 units in 2-unit buildings, 3,686 in 3–4 unit buildings, 556 in 5–9, 58 in 10–19, and 30 in 20–49. Combined 2–49 unit stock is 6,098 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 02863?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,650. See the full schedule and 90–110% payment-standard band on the ZIP 02863 — Central Falls, RI HUD Section 8 Payment Standards / SAFMR.

Does this Rhode Island ZIP profile include Georgia listings?

No. ZIP 02863 is Census / HUD research for Providence-Fall River, RI-MA HUD Metro FMR Area. Jeff Crowe CRE does not list Rhode Island property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.