Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $530 |
| 1 Bedroom | $540 |
| 2 Bedrooms | $630 |
| 3 Bedrooms | $820 |
| 4 Bedrooms | $1,000 |
| 5 Bedrooms | $1,160 |
| 6 Bedrooms | $1,299 |
| 7 Bedrooms | $1,403 |
| 8 Bedrooms | $1,473 |
U.S. Census Bureau data (2024)
The classification of ZIP code 00694 in Puerto Rico hinges on the available data points regarding rental market dynamics and economic indicators. The Fair Market Rent (FMR) for a one-bedroom apartment in ZIP 00694 for fiscal year 2024 is set at $590. This figure serves as a benchmark for rental yields, considering that the market and home values are currently not available.
Stability is assessed through the percentage of renters, days on market (DOM), and median household income. With 0.0% of the population identified as renters, it suggests an extremely low demand for rental properties, pointing towards a highly unstable rental market. Additionally, the median household income stands at $16,094, which is significantly lower compared to mainland U.S. standards, further indicating economic instability.
Given these metrics, ZIP 00694 leans heavily towards being a low-stability market. The absence of available market and home value data makes it challenging to assess the potential yield accurately. However, the FMR of $590 provides a clear guideline for rental pricing, assuming compliance with HUD standards.
The combination of a very low renter population and modest median income points towards a market that is not suitable for traditional rental investment strategies aimed at steady cash flow. Instead, it might be more appropriate for short-term flips or other speculative real estate investments where the goal is to capitalize on quick market movements rather than long-term tenancy.
In conclusion, ZIP 00694 presents a scenario where the market is characterized by low stability due to the minimal rental demand and lower median income levels. The yield potential cannot be fully gauged without additional market data but is constrained by the FMR cap at $590. For landlords and small-portfolio investors, this ZIP code would be classified as a low-stability market, likely unsuitable for steady cash flow but potentially interesting for different investment approaches.
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.