Location: San Germán, PR | Metro: San Germán, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $440 |
| 1 Bedroom | $450 |
| 2 Bedrooms | $570 |
| 3 Bedrooms | $720 |
| 4 Bedrooms | $750 |
| 5 Bedrooms | $870 |
| 6 Bedrooms | $974 |
| 7 Bedrooms | $1,052 |
| 8 Bedrooms | $1,105 |
U.S. Census Bureau data (2024)
The ZIP code 00667 in Puerto Rico stands out due to its unique characteristics. With a population of 22,792 residents, it has a significant rental market, where 30.3% of the population rents their homes. The median income in this area is notably low at $19,534, which reflects the economic challenges faced by many residents. Notably, the median home value is listed as N/A, indicating that there might be limited data available on homeownership values, possibly due to the high rental rate.
In terms of Section 8 housing economics, the Fair Market Rent (FMR) for ZIP 00667 in fiscal year 2024 is set at $520. This is higher than the current market rent, which is reported at $475 according to the Census American Community Survey (ACS). This discrepancy suggests that landlords participating in the Section 8 program can expect slightly better rental rates compared to the local market, which could be an incentive for them to join the program.
The data signature for ZIP 00667 reads as stable, with consistent trends in rental percentages and median incomes over recent years. However, the lack of median home value data introduces some uncertainty, which could indicate a transitional phase in the housing market dynamics. Despite this, the voucher economics present a clear advantage for landlords willing to participate in the Section 8 program, with the potential to receive higher rents than the current market rate. This makes ZIP 00667 a viable option for landlords looking to secure steady rental income while providing affordable housing options to the community.
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.