Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 00707, located in Guaynabo, Puerto Rico, presents a unique set of characteristics that distinguish it from other areas. With a population of 10,319 residents, where 26.3% rent their homes, this area has a notable rental market. The median income in ZIP 00707 stands at $17,750, reflecting a lower-income community. Notably, the median home value data is unavailable, suggesting that homeownership trends might be less common compared to other ZIP codes.
Moving to the specifics of voucher economics, the Fair Market Rent (FMR) for ZIP 00707 in fiscal year 2024 is set at $530. This figure contrasts with the market rent, which according to Census ACS data, is $549. For landlords and small-portfolio investors, this means that the difference between the FMR and the actual market rent is minimal, only $19 per month. However, the low median income indicates that many residents rely heavily on Section 8 vouchers to afford housing, making the rental market sensitive to fluctuations in government funding and economic conditions.
The data signature for ZIP 00707 suggests a transitional environment. The reliance on rental properties and the significant portion of the population with low incomes point towards an area undergoing changes. As the economy evolves, there could be shifts in the rental market dynamics and the availability of affordable housing options. Landlords and investors should closely monitor these trends to adapt their strategies accordingly.
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.