Location: Ponce, PR | Metro: Ponce, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $510 |
| 1 Bedroom | $530 |
| 2 Bedrooms | $580 |
| 3 Bedrooms | $800 |
| 4 Bedrooms | $900 |
| 5 Bedrooms | $1,044 |
| 6 Bedrooms | $1,169 |
| 7 Bedrooms | $1,263 |
| 8 Bedrooms | $1,326 |
U.S. Census Bureau data (2024)
The ZIP code 00715 in Guaynabo, Puerto Rico, represents a significant opportunity for landlords focused on Section 8 tenants. With a population of 2,082, nearly one-quarter (23.4%) of residents are renters, indicating a substantial tenant pool. This percentage suggests that the area is renter-heavy rather than dominated by homeowners, which aligns well with the potential for deep voucher demand.
The median household income in this ZIP is $22,670, which is notably lower than the typical market rent of $660. To put this into perspective, the average rent consumes approximately 29% of the median household income, making it a challenging figure for many residents without assistance. However, the Fair Market Rent (FMR) for the area is set at $470 (for FY 2024), which is significantly lower than the market rent but still higher than the median income. This discrepancy highlights the importance of Section 8 vouchers in enabling affordable housing options for local residents.
A landlord operating in ZIP 00715 can expect a tenant profile characterized by individuals and families heavily reliant on rental assistance programs such as Section 8. The typical tenant will likely be seeking housing options that align closely with the FMR, emphasizing the need for properties priced around or below $470 per month. This demographic includes working-class families, elderly individuals, and disabled persons who qualify for government subsidies due to their low-income status. Given the high percentage of renters and the lower median income, landlords should prepare for a market where Section 8 vouchers are common and necessary for securing tenancy.
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.