Section 8 Fair Market Rent (FMR) for ZIP 00613 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 00613 in Arecibo County, Puerto Rico, presents a unique scenario for landlords and small-portfolio investors due to limited data on its resident demographics, rental rates, median income, and median home values. Despite these unknowns, the economic landscape can be analyzed through the lens of Section 8 housing vouchers.

In ZIP 00613, the Fair Market Rent (FMR) for fiscal year 2024 is set at $510. This figure is critical for understanding the financial dynamics of the area, particularly for those participating in the Section 8 program. The FMR serves as a benchmark for the maximum rent that a landlord can charge for a unit under the voucher program, ensuring that it remains affordable for low-income families.

The voucher economics in this ZIP code offer a predictable income stream for landlords, as they receive a subsidy to cover the difference between the tenant's contribution (typically 30% of their adjusted income) and the FMR. Given the $510 FMR, landlords can expect a stable rental income, assuming the units meet the required standards and are rented to eligible participants.

While the specific data points for ZIP 00613 are not available, the reliance on Section 8 vouchers suggests a transitional environment. The presence of a defined FMR indicates an active effort to manage housing costs and provide support to tenants, which is often seen in areas undergoing economic changes or recovery phases.

Summary:

• The ZIP code 00613 has limited demographic data, making it challenging to assess typical resident characteristics.
• The FMR for ZIP 00613 is $510, offering landlords a clear guideline for setting rents under the Section 8 program.
• The voucher system provides a reliable income source for landlords, despite the lack of detailed market data.
• The ZIP code appears to be in a transitional phase, likely due to broader economic conditions affecting the region.

Data Sources: FMR data from HUD (2027).

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.