Location: San Juan-Guaynabo, PR | Metro: San Juan-Guaynabo, PR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $680 |
| 2 Bedrooms | $790 |
| 3 Bedrooms | $1,030 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
The analysis of ZIP code 00978 in the San Juan-Guaynabo, PR HUD Metro FMR Area reveals several key points that landlords and small-portfolio investors should consider.
Firstly, the rent math does not work favorably. The Fair Market Rent (FMR) for ZIP 00978 is set at $690 per month for fiscal year 2024. However, the lack of available market rent data means there's no direct comparison to assess if the FMR aligns with what tenants are willing to pay. This gap indicates a need for further investigation into local rental trends.
Secondly, the acquisition affordability is unclear due to missing data on the median home value, days on market (DOM), and the percentage of homes requiring price cuts. These figures would typically provide insight into how competitive the housing market is and whether purchasing properties is financially viable for investors.
Thirdly, there is no tenant demand evident from the available data. With no population figure and no percentage of renters, it's challenging to gauge the size of the potential tenant pool and their inclination towards renting over owning. Without these numbers, investors cannot accurately predict the occupancy rates they might achieve.
In conclusion, while the Fair Market Rent for ZIP 00978 is established at $690, the absence of critical market data such as median home values, days on market, price cut percentages, population size, and renter share makes it difficult to recommend investment in this area. Landlords and small-portfolio investors must seek out additional local insights to make informed decisions regarding property acquisitions and rental strategies in this ZIP code.
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.