Location: Puerto Rico HUD Nonmetro Area, Unknown | Metro: Puerto Rico HUD Nonmetro Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $460 |
| 1 Bedroom | $470 |
| 2 Bedrooms | $520 |
| 3 Bedrooms | $700 |
| 4 Bedrooms | $740 |
| 5 Bedrooms | $858 |
| 6 Bedrooms | $961 |
| 7 Bedrooms | $1,038 |
| 8 Bedrooms | $1,090 |
U.S. Census Bureau data (2024)
The ZIP code 00765, located within the Puerto Rico HUD Nonmetro Area, has a Family Monthly Income (FMI) Rent Limit of $480 for fiscal year 2026. This limit is higher than the market rent of $430, indicating that while the rental income from Section 8 vouchers can be slightly above the average market rate, it is still relatively close to what the market dictates. The renter share of 33.2% suggests a significant portion of residents are renters, which could be beneficial for landlords participating in the Section 8 program.
Given the data, 00765 appears to be a mid-tier neighborhood within its metro area. It does not stand out as a premium sub-market due to the absence of home value data, which might suggest that the area is primarily focused on rental properties rather than owner-occupied homes. Additionally, the proximity of the FMI Rent Limit to the market rent implies that there isn't a substantial premium for Section 8 vouchers over market rates, further supporting the mid-tier classification.
The high renter share without a corresponding mention of home values aligns with the characteristics of a Section 8 sweet spot. In such areas, landlords can benefit from a higher concentration of potential voucher holders, ensuring a steady demand for rental properties. However, the lack of home value data means we cannot definitively conclude that it is a value pocket based solely on property prices. Instead, the focus should remain on the robust rental market and the reasonable FMI Rent Limit that closely mirrors the market rent.
To summarize, 00765 is positioned as a mid-tier neighborhood within the Puerto Rico HUD Nonmetro Area, with a slight advantage in rental income from Section 8 vouchers compared to market rents. Landlords and small-portfolio investors should consider the strong rental demand and the manageable gap between FMI Rent Limits and market rents when evaluating investment opportunities in this ZIP code.
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.