FY2027 Small Area FMR · Puerto Rico
ZIP 00727 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 00727 (Puerto Rico) is $760 a month, up 7.0% from FY2026. That is 23% above the Caguas, PR area-wide FMR of $617.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 00727 sits in the Caguas, PR area
Of the 16 ZIP codes HUD lists for the area, 00727 has the 2nd highest two-bedroom Small Area FMR. Caguas, PR is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $617 for two bedrooms; an agency that opts in to Small Area FMRs would use $760 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $590 | $531 – $649 | $482 | $580 |
| 1 bedroom | $620 | $558 – $682 | $502 | $580 |
| 2 bedrooms | $760 | $684 – $836 | $617 | $710 |
| 3 bedrooms | $1,050 | $945 – $1,155 | $854 | $990 |
| 4 bedrooms | $1,270 | $1,143 – $1,397 | $1,031 | $1,190 |
A household renting a two-bedroom home at the Small Area FMR of $760 needs about $30,400 a year to keep housing costs at 30% of income. The area median family income is $41,400 and the 80% low-income limit for four people is $31,100. ZIP code 00727 lies mainly in Caguas Municipio. See the Caguas, PR metro page for the full income limits table and the household check.
Questions
What is the Fair Market Rent for ZIP code 00727?
HUD's FY2027 Small Area Fair Market Rents for 00727 are $590 (studio), $620 (1 BR), $760 (2 BR), $1,050 (3 BR) and $1,270 (4 BR) a month.
What is the Section 8 payment standard in 00727?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 00727 that range is $684 to $836 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 00727?
The FY2026 income limits of the Caguas, PR area apply: median family income $41,400, low-income (80%) limit $31,100 for a family of four.