Location: Puerto Rico HUD Nonmetro Area, Unknown | Metro: Arecibo, PR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $510 |
| 1 Bedroom | $520 |
| 2 Bedrooms | $600 |
| 3 Bedrooms | $790 |
| 4 Bedrooms | $950 |
| 5 Bedrooms | $1,102 |
| 6 Bedrooms | $1,234 |
| 7 Bedrooms | $1,333 |
| 8 Bedrooms | $1,400 |
U.S. Census Bureau data (2024)
ZIP code 00612 corresponds to Aguadilla, a coastal municipality on Puerto Rico’s northwest coast known for its surfing beaches and proximity to Rafael Hernández Airport. The local economy has historically been supported by aerospace and industrial activity, with companies such as Lufthansa Technik maintaining a significant presence at the airport. This infrastructure provides a base of employment that bolsters the rental market, though the broader region relies heavily on tourism and government services.
From a strictly numerical perspective, the data presents a clear arbitrage opportunity for voucher holders. The HUD Fair Market Rent (FMR) for a 2-bedroom unit in FY2026 is set at $600, while the current Census market rent stands at $510. This creates a positive gap of $90 per month, meaning a Section 8 tenant effectively pays above the going market rate. However, liquidity and valuation data are opaque; median home values, days on market, and median 2BR sale prices are currently not available, making exit strategy planning difficult without local broker input.
Demand fundamentals are anchored by a renter share of 35.9% and a median household income of $24,488, which is well below the mainland average and suggests high eligibility for housing assistance. The area is served by the University of Puerto Rico at Aguadilla, which provides a steady stream of faculty and student renters. While public transit options exist, they are limited compared to major metro areas, so proximity to schools or the airport is critical for maintaining occupancy. The low income levels relative to rent costs naturally drive demand for subsidy programs.
The Section 8 verdict for 00612 is defined by cash-flow potential over appreciation. With the 2BR FMR exceeding market rent by $90, investors can secure reliable, government-backed payments that are higher than what the open market currently bears. This premium is rare and offsets the risks associated with the low median income of the resident population. The strongest angle here is acquiring distressed units at a discount and utilizing the $900 4BR FMR to maximize yield, provided one accepts that home value appreciation data remains uncertain.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.