Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $550 |
| 1 Bedroom | $560 |
| 2 Bedrooms | $650 |
| 3 Bedrooms | $850 |
| 4 Bedrooms | $1,030 |
| 5 Bedrooms | $1,195 |
| 6 Bedrooms | $1,338 |
| 7 Bedrooms | $1,445 |
| 8 Bedrooms | $1,517 |
U.S. Census Bureau data (2024)
The ZIP code 00741, located in Guaynabo, Puerto Rico, presents a unique profile with its relatively small population of 3,716 residents. Only 25.3% of these residents are renters, indicating a primarily owner-occupied area. The median income here stands at $26,585, which is notably lower than the typical U.S. median income. Notably, there is no available data for the median home value, suggesting either a lack of sufficient data or a unique housing market structure.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 00741 is set at $630 for fiscal year 2024. This is below the market rent, which is recorded at $666 according to the latest Census American Community Survey (ACS). This difference means that landlords who accept Section 8 vouchers can expect slightly lower rental income compared to the market rate, but still receive a guaranteed payment through the voucher program.
The economic dynamics of Section 8 in ZIP 00741 suggest a stable situation for landlords who are willing to participate. While the FMR is slightly lower than the market rate, the consistent income provided by the voucher system can be beneficial in an area where median incomes are modest. Landlords should consider the balance between the security of voucher payments and the potential for higher rents outside the program when making their decisions.
The overall data signature for ZIP 00741 reads as stable. With a significant portion of homeownership and a defined yet lower-than-market FMR, the environment is predictable for both tenants and landlords. However, the absence of median home value data introduces some uncertainty about the broader housing market conditions, which could be transitional in nature despite the stable rental market indicators.
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.