Location: Barranquitas-Aibonito, 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 analysis of ZIP code 00782, located in Barranquitas-Aibonito, Puerto Rico, reveals several key points for potential landlords and small-portfolio investors. Firstly, the rent math does not work favorably. The Fair Market Rent (FMR) set by HUD for FY 2024 is $570, while the actual market rent according to the Census ACS is $491. This means that landlords might struggle to meet the FMR, which could limit their participation in the Section 8 program due to lower-than-expected rental income.
Secondly, the acquisition of properties appears to be challenging. The data indicates that the median home value is N/A, suggesting a lack of recent sales data or significant fluctuations in property values. Additionally, the average number of days on market (DOM) is N/A, and the percentage of homes requiring price cuts is also N/A. These missing figures imply a lack of clarity regarding the affordability and competitiveness of acquiring new properties in this area.
Thirdly, there is a moderate tenant demand. With a total population of 18,128 and a renter share of 35.2%, there is a reasonable pool of potential tenants. However, the high FMR compared to the market rent might deter some renters from applying, especially those who are dependent on housing assistance programs.
In conclusion, ZIP 00782 presents a mixed picture for real estate investment. While there is a decent tenant base, the mismatch between the HUD's FMR and the market rent makes it difficult for landlords to participate effectively in the Section 8 program. Furthermore, the lack of detailed information on property acquisition suggests that investors should proceed with caution and conduct thorough local market research before committing to investments in this area.
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.