Section 8 Fair Market Rent (FMR) for ZIP 00703 - 2027

Location: San Juan-Guaynabo, PR | Metro: Caguas, PR HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$510
1 Bedroom	$520
2 Bedrooms	$600
3 Bedrooms	$790
4 Bedrooms	$950
5 Bedrooms	$1,102
6 Bedrooms	$1,234
7 Bedrooms	$1,333
8 Bedrooms	$1,400

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

24,263

Median Household Income

$23,292

Housing Units

11,436

Renter Percentage

35.5%

Occupancy Rate

80.6%

Renter Occupied

3,268

The ZIP code 00703, located in Guaynabo, Puerto Rico, offers a unique opportunity for real-estate investors interested in the Section 8 housing market. The area is characterized by a mix of residential and commercial properties, with a significant portion of the population relying on rental housing.

The Fair Market Rent (FMR) for ZIP 00703 in fiscal year 2024 is set at $530, providing a benchmark for rental rates that landlords can charge to tenants participating in the Section 8 program.
According to the Census Bureau's American Community Survey, the average market rent for the area is $469, indicating that landlords who participate in Section 8 can potentially charge a higher rate compared to the general market.
The median home value is not available for ZIP 00703, suggesting that there might be limited owner-occupied homes, which could impact the overall housing market dynamics.
Renters make up 35.5% of the housing market in Guaynabo, highlighting the demand for rental properties and the importance of Section 8 vouchers in meeting this need.
The median income for residents in ZIP 00703 is $23,292, underscoring the financial situation of many potential tenants and the reliance on affordable housing options.

In summary, ZIP 00703 presents a viable investment opportunity for those looking to engage with the Section 8 housing market. With a higher FMR compared to the average market rent, landlords can secure more stable rental income. The significant share of renters and the relatively low median income suggest a strong demand for affordable rental units, making properties that qualify for Section 8 particularly attractive. However, the lack of data on median home values and days on market (DOM) indicates areas where further research might be necessary to fully understand the local real estate landscape.

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.