Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 00934 in Connecticut presents several challenges for landlords considering Section 8 investments. Tenant turnover can be a significant issue, with market rents being unavailable but the Fair Market Rent (FMR) for FY 2024 being set at $1000. This fixed rent amount might not cover the cost of maintaining competitive market rates, leading to higher turnover if tenants seek better rental deals elsewhere.
Vacancy exposure is another critical concern. The days on market (DOM) for properties in this area are not available, which makes it difficult to predict how long a property might remain vacant between tenants. A prolonged vacancy period can severely impact cash flow, especially when relying on government-subsidized rents.
Deferred maintenance is also a risk factor. Without specific data on the typical home values and median incomes in ZIP 00934, it's challenging to assess the likelihood of landlords investing in regular upkeep. However, properties with lower maintenance levels can attract fewer tenants and lead to increased repair costs over time.
Despite these risks, the high renter share of 100.0% in ZIP 00934 indicates a robust demand for rental housing. This high density of renters often translates into a strong interest in Section 8 vouchers, which can provide a stable source of income for landlords. With such a high percentage of renters, the pool of potential voucher holders is substantial, making it easier to find tenants who qualify for assistance.
Verdict: Moderate risk for a first-time Section 8 landlord due to uncertainties around tenant turnover and vacancy exposure, despite the high demand for rentals.
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.