Location: Ponce, PR | Metro: Ponce, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $560 |
| 1 Bedroom | $590 |
| 2 Bedrooms | $640 |
| 3 Bedrooms | $890 |
| 4 Bedrooms | $990 |
| 5 Bedrooms | $1,148 |
| 6 Bedrooms | $1,286 |
| 7 Bedrooms | $1,389 |
| 8 Bedrooms | $1,458 |
U.S. Census Bureau data (2024)
The ZIP code 00716 in Guaynabo, Puerto Rico, is a renter-heavy area with significant potential for Section 8 tenants. With a population of 27,945, nearly 40% of residents are renters, indicating a robust demand for rental properties. The median household income in this ZIP is $20,652, which is notably low compared to the broader United States, making affordable housing solutions like Section 8 vouchers particularly relevant.
The average market rent in the area stands at $599, closely aligning with the Fair Market Rent (FMR) set at $590 for fiscal year 2024. This suggests that landlords can expect a stable rental environment, where rents are not significantly above the government's affordability guidelines. Given the median income, the typical rent consumes about 29% of the local income, which is within an acceptable range for housing costs, though it still represents a considerable portion of the residents' earnings.
In this context, landlords and small-portfolio investors should anticipate a tenant pool that heavily relies on Section 8 vouchers. These tenants will be looking for affordable housing options and are likely to have incomes well below the median, often qualifying for assistance due to the high cost of living relative to their income levels. It is important for landlords to understand the administrative requirements associated with Section 8 tenancy, including regular inspections and adherence to property standards set by the program.
Overall, ZIP 00716 presents a strong opportunity for those willing to navigate the specifics of Section 8 tenancy. The combination of a high percentage of renters and a median income that supports the need for subsidized housing means a steady demand for rental units that comply with the program's stipulations.
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.