Section 8 Fair Market Rent (FMR) for ZIP 00922 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 00922 in Unknown, PR presents several challenges for landlords considering Section 8 investments. First, tenant turnover can be a significant issue, especially when comparing the market rent, which is currently unavailable, to the Fair Market Rent (FMR) of $920 for fiscal year 2024. This discrepancy may lead to frequent changes in occupancy, which can disrupt rental income stability.

Second, there is a notable risk of vacancy exposure due to the unknown number of days on market (DOM). In areas where the DOM is high, properties can remain vacant longer, reducing potential rental income. The lack of specific data on this metric makes it difficult to predict how long a property might stay unoccupied between tenants.

Third, landlords must be prepared for deferred maintenance issues. With both the typical home value and the median income in the area being unknown, it's challenging to assess the financial health of potential tenants and their ability to contribute to maintenance costs. This uncertainty increases the risk that landlords will need to cover higher-than-average repair and upkeep expenses.

Despite these risks, the high concentration of renters in the area, represented by the unknown percentage of renter share, suggests strong demand for rental housing. High renter density often translates into robust demand for Section 8 vouchers, which can help ensure steady occupancy rates. However, without specific figures, it's difficult to quantify this benefit accurately.

Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 00922, Unknown, PR.

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.