Location: Caguas, PR | Metro: Caguas, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $490 |
| 1 Bedroom | $510 |
| 2 Bedrooms | $630 |
| 3 Bedrooms | $870 |
| 4 Bedrooms | $1,050 |
| 5 Bedrooms | $1,218 |
| 6 Bedrooms | $1,364 |
| 7 Bedrooms | $1,473 |
| 8 Bedrooms | $1,547 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 00778 in Caguas, PR for FY 2024 is set at $680. This figure closely aligns with the market rent reported by the Census ACS, which stands at $678. Given this nearly identical alignment between the HUD FMR and the actual market rent, landlords can expect that voucher tenants will cashflow at the FMR level, without requiring premium units to achieve positive cash flow.
The median home value in the area is currently not available (N/A), which makes it challenging to derive an exact rent-to-price ratio. However, the absence of fluctuating home values suggests a stable housing market, where rental income remains a consistent source of revenue. The lack of data on days on market (DOM) and the percentage of homes that have been listed at a price cut also points towards a steady rental demand, as these metrics typically indicate a more dynamic buying market.
In the context of the strong alignment between HUD FMR and market rents, landlords and small-portfolio investors should focus on the stability of the rental market in ZIP 00778. Stability provides a reliable stream of income and minimizes the risks associated with tenant turnover and vacancy rates. For those looking to invest in the area, the primary angle to consider is the stability of the rental market, ensuring a predictable and secure investment environment.
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.