Location: San Juan-Guaynabo, PR | Metro: Caguas, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $550 |
| 1 Bedroom | $560 |
| 2 Bedrooms | $660 |
| 3 Bedrooms | $860 |
| 4 Bedrooms | $1,040 |
| 5 Bedrooms | $1,206 |
| 6 Bedrooms | $1,351 |
| 7 Bedrooms | $1,459 |
| 8 Bedrooms | $1,532 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 00777 in Guaynabo, Puerto Rico, for fiscal year 2024 is set at $570. 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 actual rent you will receive; it's the payment standard used by the housing authority to determine the subsidy amount.
In comparison, the average rent in ZIP 00777, according to the Census American Community Survey, is $577. This indicates that the market rent is slightly above the FMR, which means that if your property meets the quality standards set by the housing authority, you might be able to charge close to the FMR without losing tenants due to higher costs.
The renter share in Guaynabo is 29.2%, meaning nearly three out of every ten households rent their homes. This suggests a steady demand for rental properties, making it a good market for landlords and small-portfolio investors. However, the acquisition cost of properties in this area is noted as N/A, which implies that there isn't readily available data on the average cost of purchasing a rental property in ZIP 00777. This could mean that property values vary widely or that data is limited, so it's crucial to research the specific property you're interested in thoroughly.
Before deciding to participate in the Section 8 program with a rental property in ZIP 00777, verify that your property meets the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD). These standards ensure that the property is safe, decent, and sanitary for tenants. Failure to meet these criteria can result in disqualification from the program, regardless of the location or the FMR.
To summarize, the FMR of $570 for ZIP 00777 provides a benchmark for the maximum rent you can charge under Section 8, while the local average rent of $577 indicates a competitive market. With a 29.2% renter share, there is a solid demand for rental units. Ensure your property meets HQS to avoid any issues with HUD.
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.