Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $620 |
| 1 Bedroom | $630 |
| 2 Bedrooms | $740 |
| 3 Bedrooms | $960 |
| 4 Bedrooms | $1,170 |
| 5 Bedrooms | $1,357 |
| 6 Bedrooms | $1,520 |
| 7 Bedrooms | $1,642 |
| 8 Bedrooms | $1,724 |
U.S. Census Bureau data (2024)
ZIP code 00949 covers Bayamón, Puerto Rico, a dynamic urban hub often called the "Pork Rind Capital" due to its deep-rooted culinary tradition. This area is a major commercial and manufacturing center within the San Juan metropolitan area. A significant driver of local economic stability is the Science, Technology, and Research (Ciencia) Park, which fosters innovation and attracts various businesses, providing a steady employment base for residents.
From a numbers perspective, the HUD Fair Market Rent (FMR) for a 2-bedroom unit in FY2024 is $710, which rises to $930 for a 3-bedroom. The Census ACS reports the current market rent for a 2-bedroom at $721, creating a negligible negative gap of -$11 between market rates and HUD limits. Unfortunately, data for median home value and median days on market are not available in the current dataset.
The tenant pool here is substantial, with a renter share of 29.0%. However, the median household income is $34,563, indicating that many residents may require rental assistance to afford market rates. For investors, the proximity to major retail hubs and public transit options like the Tren Urbano enhances the desirability of rentals, ensuring consistent demand from working-class families who need reliable access to San Juan.
The Section 8 verdict for 00949 leans heavily toward stability. Because the market rent of $721 almost perfectly matches the HUD SAFMR of $710, landlords can expect voucher payments to cover the bulk of operating costs without significant out-of-pocket gaps. While the negative spread suggests limited immediate cashflow potential, the high density of renters and the area’s role as an employment center point to low vacancy rates and reliable long-term occupancy.
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.