Location: Aguadilla, PR | Metro: Aguadilla, PR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $470 |
| 1 Bedroom | $470 |
| 2 Bedrooms | $570 |
| 3 Bedrooms | $680 |
| 4 Bedrooms | $760 |
| 5 Bedrooms | $882 |
| 6 Bedrooms | $988 |
| 7 Bedrooms | $1,067 |
| 8 Bedrooms | $1,120 |
U.S. Census Bureau data (2024)
36.6% of residents in ZIP 00676 are renters, indicating a significant demand for rental properties in the area. $23,272 is the median income, which suggests that many residents may rely on assistance programs such as Section 8 to afford housing. $480 is the Fair Market Rent (FMR) for Section 8 in ZIP 00676 for fiscal year 2024, providing a benchmark for rental pricing that aligns with federal guidelines. $515 is the average market rent according to the Census ACS, slightly above the Section 8 FMR but still within a reasonable range for subsidized tenants. The median home value is listed as N/A, which could mean that the area is predominantly composed of rental units rather than owner-occupied homes. The day DOM (Days on Market) is also marked as N/A, possibly due to limited data on property listings in the area. Similarly, the price-cut share is N/A%, suggesting that there might not be enough data to determine the frequency of price reductions in the local real estate market.
The combination of a high renter share and a relatively low median income points towards a strong potential for Section 8 tenants in ZIP 00676. Given that the market rent is only marginally higher than the FMR, landlords can expect to find a good balance between federal subsidies and market rates when setting their rental prices. This makes the area particularly attractive for those looking to participate in the Section 8 program, as it allows for a stable tenant base and predictable rental income. The lack of specific data on median home values and days on market does not detract from the overall picture; instead, it underscores the rental-focused nature of the market in ZIP 00676. Landlords should be prepared to adhere to the requirements set forth by the Section 8 program, including regular inspections and maintenance, to ensure compliance and maximize their benefits.
Section 8 verdict: ZIP 00676 is a viable market for Section 8 participation, with a strong tenant pool and favorable rental pricing dynamics.
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.