Location: San Juan-Guaynabo, PR | Metro: Caguas, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $810 |
| 3 Bedrooms | $1,060 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
Situated in the San Juan metropolitan area, ZIP code 00926 primarily encompasses the municipality of Guaynabo, often recognized as one of Puerto Rico’s most affluent and strategically located sectors. The area is characterized by a blend of established suburban residential neighborhoods and robust commercial zones, offering a higher quality of life compared to the immediate dense urban core of San Juan. A key economic anchor in this region is the Puerto Rico Convention Center district, which drives significant service and hospitality employment, while local government offices in Guaynabo provide steady administrative jobs. This environment generally attracts working-class families seeking stability and access to the island’s main retail and healthcare hubs.
From a cash-flow perspective, the data presents a tight but potentially viable margin for Section 8 investors. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is $750, while the general market rent sits slightly higher at $776. With a ZIP-level Special Accrued Fair Market Rent (SAFMR) of $800, voucher holders can actually outpace standard market tenants by $24 per month. However, investors should note that median home value data is not available for this specific ZIP, nor are median days on market, making it difficult to gauge asset appreciation potential or turnover speed without further due diligence.
Demand fundamentals are supported by a solid renter share of 30.1% within a population of 92,284, indicating a healthy tenant base. With a median household income of $40,606, many local residents may qualify for housing assistance, creating a consistent pool of voucher holders. The area is served by the island’s main highway networks, easing commutes to San Juan, and offers access to well-regarded private educational institutions, which enhances long-term rental appeal for families prioritizing education over urban convenience.
The Section 8 verdict for 00926 leans toward stability and reliable cash flow rather than speculative appreciation. The ability to command $800 via SAFMR against a market rate of $776 allows landlords to maximize guaranteed income, effectively insulating them from slight market dips. For small-portfolio investors, the strongest angle here is acquiring or holding 2-bedroom assets where the SAFMR premium exists, ensuring that government payments cover the full market obligation while serving a tenant pool in a relatively stable, suburban environment.
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.