FY2027 Small Area FMR ·
ZIP 00940 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 00940 is $720 a month, up 7.5% from FY2026. That is 2% above the San Juan-Guaynabo, PR area-wide FMR of $706.
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 00940 sits in the San Juan-Guaynabo, PR area
Of the 96 ZIP codes HUD lists for the area, 00940 has the 36th highest two-bedroom Small Area FMR. San Juan-Guaynabo, 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 $706 for two bedrooms; an agency that opts in to Small Area FMRs would use $720 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $600 | $540 – $660 | $592 | $560 |
| 1 bedroom | $620 | $558 – $682 | $604 | $580 |
| 2 bedrooms | $720 | $648 – $792 | $706 | $670 |
| 3 bedrooms | $940 | $846 – $1,034 | $920 | $880 |
| 4 bedrooms | $1,140 | $1,026 – $1,254 | $1,117 | $1,060 |
A household renting a two-bedroom home at the Small Area FMR of $720 needs about $28,800 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 $33,100. See the San Juan-Guaynabo, PR metro page for the full income limits table and the household check.
Questions
What is the Fair Market Rent for ZIP code 00940?
HUD's FY2027 Small Area Fair Market Rents for 00940 are $600 (studio), $620 (1 BR), $720 (2 BR), $940 (3 BR) and $1,140 (4 BR) a month.
What is the Section 8 payment standard in 00940?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 00940 that range is $648 to $792 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 00940?
The FY2026 income limits of the San Juan-Guaynabo, PR area apply: median family income $41,400, low-income (80%) limit $33,100 for a family of four.