Location: Arecibo, PR | Metro: Arecibo, PR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $500 |
| 1 Bedroom | $500 |
| 2 Bedrooms | $580 |
| 3 Bedrooms | $800 |
| 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 00659 in Hatillo, Puerto Rico, presents a market in motion. The Fair Market Rent (FMR) for ZIP 00659 is set at $520 for fiscal year 2024, while the market rent as per the U.S. Census Bureau's American Community Survey (ACS) stands at $593. These figures indicate a slight premium in the actual market rent over the FMR, suggesting a demand that slightly exceeds the supply.
The 28.9% renter share in ZIP 00659 highlights a significant portion of the population that relies on rental housing. This statistic points towards long-term housing pressure, as a substantial number of residents are not homeowners. In such a scenario, landlords and small-portfolio investors can anticipate a steady demand for rental properties.
However, the lack of data on price-cut shares and days on market (DOM) prevents a definitive assessment of the current supply-demand balance. Nonetheless, the presence of multiple listings on Zillow, including properties like the one priced at $215,000 with 3 bedrooms and 2 bathrooms, and another at $299,999 with 2 bedrooms and 2 bathrooms, indicates a diverse range of offerings. This diversity can cater to various segments of the rental market, ensuring sustained interest from potential renters.
In conclusion, ZIP 00659 appears to be a market with a balanced yet slightly tilted demand towards rental properties. The high renter share suggests ongoing pressure on the housing market, making it a favorable environment for landlords and small-portfolio investors who can capitalize on the steady demand for rental units.
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.