Section 8 Fair Market Rent (FMR) for ZIP 00794 - 2027

Location: Puerto Rico HUD Nonmetro Area, Unknown | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

28,668

Median Household Income

$23,899

Housing Units

11,689

Renter Percentage

33.7%

Occupancy Rate

84.5%

Renter Occupied

3,328

When considering whether to purchase a property in ZIP code 00794 (, GU) for Section 8 investment, follow this decision tree:

Step 1: Debt Service Coverage Ratio (DSCR)

The Fair Market Rent (FMR) for ZIP 00794 in fiscal year 2024 is set at $530. To determine if this FMR can cover the debt service, you must first know the monthly debt service of the property in question. If the FMR of $530 does not exceed the debt service, then the answer is No. Proceeding with a Section 8 property under these conditions would not be financially viable.

Step 2: Market Rent Comparison

The Census American Community Survey (ACS) reports that the average market rent for ZIP 00794 is $507. This figure is below the FMR of $530. Therefore, if your goal is to maximize rental income, you might find that the market rent is slightly less advantageous than the FMR. However, this does not necessarily mean you should avoid investing. The higher FMR can still provide a buffer against potential market fluctuations.

Step 3: Demand Analysis

In ZIP 00794, 33.7% of residents are renters. Additionally, the days on market (DOM) data is currently unavailable. Given the rental percentage, there is a moderate level of demand. However, without knowing the DOM, it's difficult to assess how quickly properties are typically leased. If the DOM is short, indicating quick leasing times, this suggests strong demand and supports a Yes decision. Conversely, if DOM is long, it implies weaker demand and makes the decision more uncertain.

Decision Outcomes

If the FMR of $530 cannot cover the debt service, do not invest.
If the FMR exceeds market rent but is sufficient for debt coverage, consider investing.
If the rental percentage is high and DOM is short, proceed with confidence.
If the rental percentage is moderate and DOM is unknown or long, the decision depends on other factors such as location desirability, property condition, and local economic trends.

Note: The analysis hinges on the availability of precise debt service and DOM data. Without these figures, the final recommendation remains conditional on the additional information.

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.