Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $600 |
| 1 Bedroom | $620 |
| 2 Bedrooms | $720 |
| 3 Bedrooms | $940 |
| 4 Bedrooms | $1,140 |
| 5 Bedrooms | $1,322 |
| 6 Bedrooms | $1,481 |
| 7 Bedrooms | $1,599 |
| 8 Bedrooms | $1,679 |
The HUD Fair Market Rent (FMR) for ZIP code 00908 in the San Juan-Guaynabo County, PR HUD Metro FMR Area, for fiscal year 2024 is set at $670. This figure represents the maximum amount that landlords can charge for a voucher tenant under the Section 8 program. However, due to the lack of specific market rent data for ZIP 00908, it's challenging to make an exact comparison between the FMR and what the market is currently bearing.
Given the FMR of $670, landlords will find that cashflowing with voucher tenants is highly dependent on the condition and location of their properties. In areas where market rents are significantly higher, landlords might only achieve positive cashflow with premium units. Conversely, in neighborhoods with lower market rents, standard units could also be viable.
The median home value in ZIP 00908 is not available, which means we cannot accurately derive a rent-to-price ratio for the area. This ratio would typically help investors understand the relative affordability of renting versus buying, but without this information, such an assessment is incomplete. Nonetheless, the lack of specific median home value data does not necessarily indicate instability; it could simply mean that the housing market is less active or reported in this particular region.
Similarly, the median days on market (DOM) and the percentage of homes that require price cuts are not available. These metrics are crucial for understanding the dynamics between renting and buying, particularly how quickly homes sell and at what price point. Without these figures, it's difficult to provide a comprehensive analysis of the local real estate market.
In conclusion, while the HUD FMR of $670 provides a clear benchmark for Section 8 landlords, achieving positive cashflow will likely depend on the specific unit's quality and location within ZIP 00908. The strongest angle for investors in this market appears to be stability, given the reliance on government-backed rental assistance programs that offer consistent income streams.
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.