Location: Puerto Rico HUD Nonmetro Area, Unknown | Metro: Ponce, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $460 |
| 1 Bedroom | $470 |
| 2 Bedrooms | $520 |
| 3 Bedrooms | $710 |
| 4 Bedrooms | $800 |
| 5 Bedrooms | $928 |
| 6 Bedrooms | $1,039 |
| 7 Bedrooms | $1,122 |
| 8 Bedrooms | $1,178 |
U.S. Census Bureau data (2024)
The ZIP code 00731 is located in Guaynabo, Puerto Rico, a suburban area known for its residential neighborhoods and proximity to San Juan. With a total population of 9,724, the area has a relatively small number of residents, with only 19.6% being renters. This indicates a predominantly owner-occupied community, suggesting a niche market for rental properties. The median household income in the area is $18,736, which is notably low and reflects the economic challenges faced by many residents.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 00731 as of the fiscal year 2024 is set at $490. In contrast, the market rent based on Census ACS data is $424. This discrepancy between the FMR and the actual market rent presents an opportunity for landlords who can manage properties efficiently at a higher rate, potentially benefiting from the government's willingness to subsidize higher rents through the Section 8 program.
Given these factors, ZIP 00731 would likely be more suitable for a hands-on value-add buyer rather than a hands-off voucher operator. The low median income suggests that tenants may require more active management and support to maintain consistent rental payments. Additionally, the potential to charge closer to the FMR while still being attractive to lower-income tenants means that there could be opportunities to improve property values and rents over time with strategic upgrades and maintenance.
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.