Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $590 |
| 1 Bedroom | $600 |
| 2 Bedrooms | $700 |
| 3 Bedrooms | $910 |
| 4 Bedrooms | $1,110 |
| 5 Bedrooms | $1,288 |
| 6 Bedrooms | $1,443 |
| 7 Bedrooms | $1,558 |
| 8 Bedrooms | $1,636 |
The ZIP code 00977, located in San Juan-Guaynavo County, Puerto Rico, presents a unique scenario for landlords and small-portfolio investors due to the lack of detailed resident and economic data. Despite the absence of specific figures regarding the number of residents, percentage renting, median income, and median home value, the area's Federal Market Rent (FMR) for fiscal year 2024 offers a clear benchmark at $630. This figure represents the maximum amount that the government will pay for rental housing under the Section 8 program in this ZIP code.
The voucher economics in ZIP 00977 are straightforward. With an FMR of $630, landlords can expect to receive this amount per month from the government for tenants participating in the Section 8 program. However, the comparison to the local market rent is inconclusive due to the unavailability of current market data. It is essential for landlords to stay informed about any updates in market rents to ensure they are making informed decisions regarding their rental properties.
Given the limited data available, it is challenging to definitively classify the ZIP 00977 as either stable or transitional. The absence of key economic indicators suggests that there might be ongoing changes or developments in the area that could affect the rental market. Landlords should monitor any future releases of demographic and economic data to better understand the trends and stability of this ZIP code.
In summary, while the specific details about the resident and economic profile of ZIP 00977 are currently unknown, the FMR provides a concrete starting point for landlords and investors. The lack of comprehensive data points towards a potentially transitional environment, necessitating vigilance and adaptability for those managing rental properties in this area.
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.