Location: Fajardo, PR | Metro: Fajardo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $570 |
| 1 Bedroom | $570 |
| 2 Bedrooms | $730 |
| 3 Bedrooms | $890 |
| 4 Bedrooms | $960 |
| 5 Bedrooms | $1,114 |
| 6 Bedrooms | $1,248 |
| 7 Bedrooms | $1,348 |
| 8 Bedrooms | $1,415 |
U.S. Census Bureau data (2024)
The market in ZIP code 00773, located in Guam, is characterized by a clear distinction between the Fair Market Rent (FMR) and the actual market rent, indicating an environment where rental properties are priced below the federally recommended levels. The FMR for the area stands at $610 for the fiscal year 2024, while the Census American Community Survey (ACS) reports the market rent at $504. This suggests that landlords have room to adjust their rents upwards without significantly deterring tenants.
The lack of specific data on price-cut share and days on market (DOM) means we cannot definitively state whether there is a surplus or shortage of rental units. However, the fact that the market rent is lower than the FMR could imply a slight oversupply of units, as landlords might be competing to attract tenants by keeping rents affordable. This scenario would typically result in longer DOM and potentially higher price-cut shares among rental listings.
The 31.1% renter share is noteworthy. With a significant portion of the population renting rather than owning homes, this ZIP code likely faces ongoing housing pressure. As renters make up a substantial part of the local market, it's indicative of a dynamic where demand for rental housing is persistent. Landlords and small-portfolio investors should anticipate a steady need for rental properties, which can provide consistent cash flow and investment opportunities over the long term.
In summary, ZIP 00773 presents a rental market where the actual rents are below federal guidelines, suggesting potential competition among landlords. The high renter share points towards a community where renting is a common practice, leading to continuous demand for rental units. These factors combine to create a market that is both challenging and rewarding for those who manage rental properties.
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.