Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $630 |
| 1 Bedroom | $640 |
| 2 Bedrooms | $750 |
| 3 Bedrooms | $980 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 00909, located in the San Juan-Guaynabo, PR HUD Metro FMR Area, stands at $630 for the fiscal year 2024. This figure is notably lower than the market rent, which is reported at $757 according to the Census ACS data. Given these numbers, landlords and small-portfolio investors can expect to cashflow positively with Section 8 tenants only when offering premium units that justify a higher rental rate. The disparity between the HUD FMR and the market rent suggests that standard units will likely result in marginal cashflow or even a slight shortfall.
Regarding the rent-to-price ratio, it's important to note that the median home value in ZIP 00909 is not available, making direct comparisons challenging. However, the absence of a median home value implies that the area might be more rental-focused rather than purchase-driven. This could mean that the dynamics of renting versus buying do not significantly impact the local real estate market, thus allowing investors to focus primarily on rental income without the distraction of fluctuating property values.
The median days on market (DOM) and the percentage of price cuts are also not available for this area. Nonetheless, the primary focus for Section 8 investors should be on the ability to maintain positive cashflow through the selection of appropriate units. In ZIP 00909, achieving this goal will require careful consideration of unit quality and location to ensure that rents can be set at levels that cover expenses and provide a profit.
The strongest investor angle in ZIP 00909 is stability. Despite the challenges posed by the lower HUD FMR compared to market rents, the consistent demand for rental properties ensures a reliable stream of income, making it an attractive option for those seeking steady returns over time.
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.