FY2027 Small Area FMR · Puerto Rico
ZIP 00729 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 00729 (Puerto Rico) is $660 a month, up 4.8% from FY2026. That is 7% 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 00729 sits in the Caguas, PR area
Of the 16 ZIP codes HUD lists for the area, 00729 has the 6th 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 $660 for this ZIP code instead.
ZIP code 00729 crosses more than one HUD area. HUD also lists it under San Juan-Guaynabo, PR (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $550 | $495 – $605 | $482 | $530 |
| 1 bedroom | $570 | $513 – $627 | $502 | $540 |
| 2 bedrooms | $660 | $594 – $726 | $617 | $630 |
| 3 bedrooms | $860 | $774 – $946 | $854 | $820 |
| 4 bedrooms | $1,040 | $936 – $1,144 | $1,031 | $990 |
A household renting a two-bedroom home at the Small Area FMR of $660 needs about $26,400 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 00729 lies mainly in Canóvanas Municipio and Loíza 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 00729?
HUD's FY2027 Small Area Fair Market Rents for 00729 are $550 (studio), $570 (1 BR), $660 (2 BR), $860 (3 BR) and $1,040 (4 BR) a month.
What is the Section 8 payment standard in 00729?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 00729 that range is $594 to $726 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 00729?
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.