Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $540 |
| 1 Bedroom | $550 |
| 2 Bedrooms | $640 |
| 3 Bedrooms | $830 |
| 4 Bedrooms | $1,010 |
| 5 Bedrooms | $1,172 |
| 6 Bedrooms | $1,313 |
| 7 Bedrooms | $1,418 |
| 8 Bedrooms | $1,489 |
U.S. Census Bureau data (2024)
The ZIP code 00965, located in Hato Nuevo, Puerto Rico, is distinct due to its unique demographic and economic characteristics. With a population of 5,848 residents, this area stands out as having a significant rental market, with 41.6% of the residents renting their homes. The median income of $19,136 is notably low, indicating a community that largely relies on assistance programs such as Section 8 vouchers.
The median home value data for ZIP 00965 is not available, but based on the surrounding areas, it can be inferred that home values are generally lower compared to the mainland U.S., which aligns with the low median income figure. In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 00965 is set at $560 for fiscal year 2024. This is slightly below the market rate of $566, as reported by the Census ACS. Landlords and small-portfolio investors should note that while there is a slight discrepancy between the FMR and the market rate, it is minimal and likely does not significantly impact the overall rental dynamics.
The data signature for ZIP 00965 reads as stable, given the consistent reliance on rental housing and the modest difference between FMR and market rates. However, the economic conditions in Puerto Rico suggest a transitional phase, where the real estate market may be adjusting to broader economic changes. Investors should remain vigilant to any shifts in local economic indicators and government policies that could affect the rental market.
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.