Location: Puerto Rico HUD Nonmetro Area, Unknown | Metro: Ponce, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $450 |
| 1 Bedroom | $470 |
| 2 Bedrooms | $520 |
| 3 Bedrooms | $680 |
| 4 Bedrooms | $790 |
| 5 Bedrooms | $916 |
| 6 Bedrooms | $1,026 |
| 7 Bedrooms | $1,108 |
| 8 Bedrooms | $1,163 |
U.S. Census Bureau data (2024)
The market in ZIP code 00720, located in Guaynabo, Puerto Rico, is characterized by a strong rental presence, with a significant portion of residents opting to rent rather than own their homes. The Fair Market Rent (FMR) for the area stands at $530 for the fiscal year 2024, indicating a government benchmark that reflects the average gross rent paid for decent, safe, and sanitary rental units of a modest size. This figure is slightly above the reported market rent of $504, which is derived from the latest Census American Community Survey (ACS) data. This suggests that while the government's assessment of fair rent is marginally higher, the actual rents being charged in the market are lower, possibly due to local economic conditions or an oversupply of rental properties.
The 29.7% renter share in ZIP 00720 highlights a substantial segment of the population that relies on rental housing. This high percentage of renters can be indicative of several underlying factors such as affordability issues, transient populations, or a lack of homeownership opportunities. For landlords and small-portfolio investors, this statistic points towards a steady demand for rental properties, suggesting that the market is likely to experience continuous pressure for affordable housing options. However, the absence of data on price-cut share, days on market (DOM), and median home value makes it challenging to definitively state whether supply currently outpaces demand or vice versa. Despite these gaps, the close alignment between FMR and market rent values implies a balanced market where neither landlords nor tenants have a significant advantage.
In summary, ZIP 00720 presents a rental-focused market with a notable demand for housing. The dynamics suggest a reliance on rental properties, driven by a high percentage of renters, which could indicate long-term housing pressures. Investors should focus on understanding the local economy and housing trends to make informed decisions.
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.