Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 00918 in San Juan-Guaynabo, Puerto Rico, for fiscal year 2024 is set at $920. This figure represents the maximum amount that landlords can charge for a voucher tenant under the Section 8 program. However, the current market rent, as reported by the Census ACS, stands significantly lower at $563. This discrepancy suggests that voucher tenants will generally provide positive cash flow to landlords, given the higher HUD FMR compared to the prevailing market rates.
To further analyze the potential returns, it's important to note that the median home value in this area is listed as N/A. Although this makes deriving an exact rent-to-price ratio challenging, the fact that market rents are below the HUD FMR indicates a favorable environment for landlords participating in the Section 8 program. The difference between the HUD FMR and market rent means that landlords can expect to see a substantial margin above typical rental income, enhancing their financial stability and profitability.
The days on market (DOM) and price cut percentages, also noted as N/A, would typically provide insights into how quickly properties are rented out and whether there is a need to adjust asking prices. In the absence of these metrics, we rely on the strong disparity between the HUD FMR and market rent to infer that the demand for affordable housing likely exceeds supply, making it easier for landlords to find tenants willing to pay the higher voucher rate.
The strongest investor angle in ZIP 00918 is undoubtedly cash flow. Given the substantial gap between the HUD FMR and the current market rent, landlords can expect to generate a significant positive cash flow from Section 8 tenants, which is critical for maintaining property investments and covering operational costs.
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.