Location: Barranquitas-Aibonito, 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 median income in ZIP code 00719, located in Guam, is $22,129. Given the market rate for rent at $484 according to the Census ACS, it becomes evident that the average household struggles to meet these costs comfortably. To put this into perspective, the median income would only cover approximately 46% of the market rate when considering a household spending 30% of its income on housing.
Comparatively, the Fair Market Rent (FMR) set at $550 for fiscal year 2024 presents an even steeper challenge for residents. This means that households would need to allocate nearly 55% of their income to match the FMR, which far exceeds the recommended 30%. The disparity between the median income and both the market rate and FMR highlights a significant affordability gap for renters in this area.
With 30.4% of the 29,932 population being renters, the competition among landlords is likely intense. Landlords must consider the financial constraints of potential tenants to ensure occupancy rates remain stable. The high percentage of renters coupled with the low median income suggests that many residents rely on rental assistance programs to find suitable housing.
For landlords evaluating strategies between accepting voucher payments versus relying on cash-paying tenants, the data points to a strategic advantage in accepting vouchers. While the FMR of $550 is higher than the market rate of $484, the guaranteed nature of voucher payments provides a steady stream of income. Additionally, the reliance on rental assistance indicates that landlords who accept vouchers will have a larger pool of eligible tenants, reducing vacancy risks and ensuring a more stable income source.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a viable strategy to maintain occupancy levels and secure consistent income in ZIP 00719. Although the FMR slightly exceeds the current market rate, the economic realities faced by residents make voucher acceptance a competitive necessity in the local rental market.
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.