FY2027 Small Area FMR ·
ZIP 00737 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 00737 is $590 a month, up 9.3% from FY2026. That is 4% below 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 00737 sits in the Caguas, PR area
Of the 16 ZIP codes HUD lists for the area, 00737 has the 12th 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 $590 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $460 | $414 – $506 | $482 | $450 |
| 1 bedroom | $480 | $432 – $528 | $502 | $450 |
| 2 bedrooms | $590 | $531 – $649 | $617 | $540 |
| 3 bedrooms | $820 | $738 – $902 | $854 | $750 |
| 4 bedrooms | $990 | $891 – $1,089 | $1,031 | $910 |
A household renting a two-bedroom home at the Small Area FMR of $590 needs about $23,600 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. 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 00737?
HUD's FY2027 Small Area Fair Market Rents for 00737 are $460 (studio), $480 (1 BR), $590 (2 BR), $820 (3 BR) and $990 (4 BR) a month.
What is the Section 8 payment standard in 00737?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 00737 that range is $531 to $649 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 00737?
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.