Location: Guayama, PR | Metro: Guayama, PR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $460 |
| 1 Bedroom | $470 |
| 2 Bedrooms | $520 |
| 3 Bedrooms | $720 |
| 4 Bedrooms | $770 |
| 5 Bedrooms | $893 |
| 6 Bedrooms | $1,000 |
| 7 Bedrooms | $1,080 |
| 8 Bedrooms | $1,134 |
The ZIP code 00785 is located in Guayama, Puerto Rico. It is classified as a PO Box ZIP code, which means it is primarily used for mail delivery rather than residential purposes. Consequently, there is no population data available for this specific ZIP code. However, given the nature of PO Box ZIP codes, it can be inferred that the majority of the addresses within this ZIP code are not occupied by individuals but are instead used for businesses or organizations.
Without specific data on renters, median income, and median home value, we turn to the Federal Market Rent (FMR) data. For fiscal year 2024, the FMR for ZIP code 00785 is set at $490. This figure represents the maximum rent that a voucher holder could pay for a unit. It's important to note that the FMR is often lower than the actual market rent, which makes it a critical benchmark for understanding the financial dynamics of renting properties under the Section 8 program.
In terms of fitting a hands-off voucher operator or a hands-on value-add buyer, ZIP code 00785 presents unique challenges due to its classification as a PO Box ZIP. The lack of detailed demographic information suggests that this ZIP code might not be ideal for a hands-on approach aimed at improving property values or increasing occupancy rates among residents. Instead, it is better suited for a hands-off operator who can manage properties without relying on typical residential metrics.
A hands-off voucher operator would benefit from the stability provided by the Section 8 program, ensuring consistent rental income even if the area is predominantly commercial or industrial. On the other hand, a value-add buyer would likely struggle to find opportunities to enhance property value in a ZIP code lacking residential detail and where the primary use is for mail delivery.
Data Sources: FMR data from HUD (2027).
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.