Location: San Juan-Guaynabo, PR | Metro: Caguas, 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 Fair Market Rent (FMR) for ZIP code 00739 in Guaynabo, Puerto Rico, for fiscal year 2024 is set at $530. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. It's important to note that this is not the rent you'll receive; it's the payment standard used by the Housing Choice Voucher Program to determine the subsidy amount.
In comparison, the average rent for the area based on recent Census American Community Survey (ACS) data is $555. This indicates that the FMR is slightly below the market rate, which could affect your income expectations if you decide to participate in the Section 8 program. However, the FMR is designed to reflect a reasonable rent level while ensuring affordability for low-income tenants.
The renter share in Guaynabo is 33.4%, meaning that over one-third of households rent their homes. This suggests a significant demand for rental properties, including those that accept Section 8 vouchers. While this high percentage indicates potential occupancy, it also means competition among landlords who accept vouchers.
Regarding property acquisition costs, the data shows this as N/A, indicating that there isn't specific information available on the average cost of acquiring a rental property in ZIP 00739. However, this does not mean that costs are negligible. Landlords should consider the overall cost of purchasing or maintaining a property, including repairs and utilities, when deciding whether to enter the Section 8 market.
Before making a final decision, verify that the property meets all the necessary requirements for Section 8 participation. This includes compliance with housing quality standards (HQS), which ensure that the rental unit is safe, decent, and sanitary. Ensuring your property meets these criteria will help avoid delays and disputes once you have a tenant.
In summary, the FMR of $530 in ZIP 00739 sets a clear limit on what you can charge for a Section 8 rental. Given the local average rent of $555 and a substantial renter share of 33.4%, demand is likely strong but competitive. The lack of specific acquisition cost data means you'll need to research local real estate prices independently. Lastly, confirming that your property complies with HQS will be crucial for a smooth start in the Section 8 program.
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.