Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $630 |
| 1 Bedroom | $640 |
| 2 Bedrooms | $750 |
| 3 Bedrooms | $980 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
The HUD Fair Market Rent (FMR) for ZIP code 00958 in San Juan-Guaynabo County, PR, for fiscal year 2024 is set at $700. This figure represents the maximum amount that a landlord can charge a tenant with a Section 8 voucher. However, due to the lack of available market rent data for this area, it's challenging to provide a direct comparison between the HUD FMR and the current market rates.
The median home value in ZIP 00958 is also not available, which means we cannot calculate a precise rent-to-price ratio. Without this ratio, it's difficult to assess the overall rent versus buy dynamics in the area. However, based on the HUD FMR alone, landlords should be cautious about relying solely on this figure for cashflow. Voucher tenants will likely cashflow only marginally, if at all, without premium units that justify higher rents due to their location, amenities, or condition.
In terms of days on market (DOM), the median is not available, nor is the percentage of listings that experience price cuts. These metrics would typically help investors gauge the local housing market's competitiveness and how quickly properties are rented out. Given the absence of such data, it's prudent to assume that the rental market in ZIP 00958 might be somewhat sluggish, requiring landlords to maintain high-quality units to attract and retain tenants.
The strongest angle for investors in this market is likely stability. With the HUD FMR providing a consistent baseline for rental income, investors can rely on predictable cashflows from voucher tenants, even if the margins are tight. Stability is particularly valuable in an area where other economic indicators may fluctuate, ensuring a steady stream of income over time.
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.