Location: Ponce, PR | Metro: Ponce, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $530 |
| 1 Bedroom | $550 |
| 2 Bedrooms | $600 |
| 3 Bedrooms | $830 |
| 4 Bedrooms | $930 |
| 5 Bedrooms | $1,079 |
| 6 Bedrooms | $1,208 |
| 7 Bedrooms | $1,305 |
| 8 Bedrooms | $1,370 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 00728 in Guaynabo, Puerto Rico, for fiscal year 2024 is set at $520. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the maximum amount that the government will pay toward a tenant's rent. It does not reflect the total rent that can be charged; rather, it caps the government subsidy portion.
To put this into perspective, the average monthly rent in ZIP 00728, according to the Census Bureau's American Community Survey, is $568. This indicates that the FMR is slightly below the market rate, meaning landlords may have to cover the difference between the FMR and the actual rent they charge tenants.
The rental market in Guaynabo is moderately active, with 24.4% of households being renters. This suggests a reasonable demand for rental properties, especially those affordable under the Section 8 program. However, the acquisition cost for rental properties in this area is listed as 'N/A', indicating limited data on property purchase prices, which could make it challenging to assess the initial investment required for buying a property to rent out.
If you're considering your first Section 8 rental in ZIP 00728, one key verification step is to ensure that your property meets all the necessary quality and safety standards required by the program. These standards are crucial because failing to meet them can result in non-payment or reduced subsidies from the government.
In summary, the FMR of $520 provides a benchmark for the government subsidy but falls short of the local average rent of $568. With a 24.4% renter share, there is a solid demand for rental units, making it a viable option for landlords willing to manage the financial gap. Before proceeding, confirm that your property complies with Section 8 requirements to avoid any complications.
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.