Location: San Germán, PR | Metro: San Germán, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $510 |
| 1 Bedroom | $530 |
| 2 Bedrooms | $580 |
| 3 Bedrooms | $720 |
| 4 Bedrooms | $900 |
| 5 Bedrooms | $1,044 |
| 6 Bedrooms | $1,169 |
| 7 Bedrooms | $1,263 |
| 8 Bedrooms | $1,326 |
U.S. Census Bureau data (2024)
The ZIP code 00636 in California presents a dynamic rental market influenced by the balance between Fair Market Rent (FMR) and actual market rents. The Fair Market Rent set at $500 for the fiscal year 2024 suggests a benchmark that landlords can use to gauge their rental pricing. However, the current market rent stands at $394 according to the Census ACS data, indicating that there might be a slight oversupply in the rental market or that tenants have significant leverage due to the availability of units.
The 51.0% renter share highlights a substantial portion of the population that relies on renting rather than owning homes. This high percentage of renters signals a continuous demand for rental properties, which can create long-term housing pressure. Landlords and small-portfolio investors should take note that despite the current lower market rent, the strong rental presence could lead to steady demand for rental units over time.
While specific metrics such as price-cut share, days on market (DOM), and median home value are currently unavailable, the disparity between the FMR and market rent provides insight into the current market conditions. The lower market rent suggests that landlords might need to adjust their expectations and possibly offer incentives to attract tenants, such as discounts or improvements to properties. On the other hand, the high renter share implies that there is a solid foundation of demand that will likely persist, ensuring a stable tenant pool in the future.
In summary, ZIP 00636 operates under a market where the supply slightly exceeds the demand, but the significant renter share ensures that rental properties remain in high demand. Landlords must navigate these dynamics carefully, setting competitive rents while also preparing for the potential long-term pressure of maintaining occupancy in a heavily rented area.
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.