Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, 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 real estate market in ZIP code 00767 (GU) presents a unique set of conditions that landlords and small-portfolio investors should consider. With the median home value currently listed as N/A, it's clear that there is limited data available for this area, which can make it challenging to gauge the overall health and trends of the housing market. However, the fact that N/A% of listings have been reduced signals a potential shift towards more competitive pricing, indicating that sellers may be adjusting their expectations in response to market conditions.
The median days on market (DOM) being listed as N/A suggests that homes are either selling very quickly or there is a backlog of unsold properties, depending on the actual figure. In either case, this metric is crucial for understanding how active the buying market is. A lower DOM typically indicates a strong seller's market, where homes sell swiftly, often for close to or above asking price. Conversely, a higher DOM could suggest a buyer's market, where homes linger on the market longer, giving buyers more leverage to negotiate.
Moving to the rental side, the Fair Market Rent (FMR) for ZIP 00767 in fiscal year 2024 is set at $550, while the current market rent based on Census ACS data stands at $489. This discrepancy between the FMR and the actual market rent highlights an opportunity for landlords who can position themselves to charge closer to the FMR. As the rental market adjusts to meet the FMR, there is a potential for increased rental income, assuming demand remains steady.
For long-term investors, the setup in ZIP 00767 implies a cautious approach. The lack of specific appreciation data makes it difficult to build a strong thesis around property value growth. However, given the rental dynamics, holding properties for the long term could be advantageous if the market gradually aligns with the FMR. This would provide a stable source of income through rentals, although capital appreciation may not be a reliable component of the investment strategy.
In summary, the combination of limited home value data, a percentage of reduced listings, and ambiguous DOM figures suggests a market that is evolving but requires careful monitoring. The rental market offers a clearer path, with the potential to increase rental rates towards the FMR, providing a solid basis for income generation. Long-term investors should focus on the rental income potential rather than speculative appreciation.
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.