Location: Arecibo, PR | Metro: Arecibo, PR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $590 |
| 1 Bedroom | $600 |
| 2 Bedrooms | $690 |
| 3 Bedrooms | $960 |
| 4 Bedrooms | $1,070 |
| 5 Bedrooms | $1,241 |
| 6 Bedrooms | $1,390 |
| 7 Bedrooms | $1,501 |
| 8 Bedrooms | $1,576 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 00652 in California for fiscal year 2024 is set at $670. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. It's important to note that this is not the actual rent you will receive; it is the payment standard used by the housing authority to determine the subsidy amount.
In comparison, the average rent reported by the Census Bureau's American Community Survey (ACS) for ZIP 00652 is $547. This means that the FMR for Section 8 is higher than the typical market rent in the area, which could be advantageous for landlords who want to ensure they receive a competitive rate for their property.
The renter share in ZIP 00652 is 19.7%. This indicates that nearly one-fifth of the households in this area are renters, suggesting a moderate level of demand for rental properties. If you're considering your first Section 8 rental, this demand signal should give you confidence that there will be tenants interested in your property.
Regarding the acquisition cost of properties in this ZIP code, the data is marked as N/A, meaning there isn't specific information available on the average cost of acquiring a rental property here. However, this doesn't necessarily mean it's unaffordable. It's crucial to research the local real estate market to understand the costs involved in purchasing a property.
Before you decide to enter the Section 8 rental market in ZIP 00652, one key verification step is essential. Ensure your property meets the Housing Quality Standards (HQS), which are the minimum requirements set by the U.S. Department of Housing and Urban Development (HUD). These standards cover various aspects of the property, including structural integrity, safety, and basic amenities, ensuring it is fit for habitation.
To summarize, the FMR of $670 for ZIP 00652 provides a benchmark for the maximum allowable rent for a Section 8 unit, exceeding the local average rent of $547. With a 19.7% renter share, there is a reasonable demand for rental units in the area. Your next move should be to confirm that your property complies with HQS to avoid any issues once you've decided to participate in the program.
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.