HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Luquillo Municipio, Puerto Rico (FY 2027)
$639 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Luquillo Municipio, and it's the baseline every voucher in Luquillo is measured against.
Two-bedroom FMR
$639
+6.5% from FY 2026
Payment standard
$575–$703
90% to 110% of the FMR, two-bedroom
Income to afford
$25,560
a year, with rent at 30% of income
Rank in Puerto Rico
31st of 78
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $495 | $446–$545 | $19,800 | $9.52/hr | +1.6% |
| 1 bedroom | $498 | $448–$548 | $19,920 | $9.58/hr | +1.6% |
| 2 bedroom | $639 | $575–$703 | $25,560 | $12.29/hr | +6.5% |
| 3 bedroom | $782 | $704–$860 | $31,280 | $15.04/hr | +6.3% |
| 4 bedroom | $843 | $759–$927 | $33,720 | $16.21/hr | +5.5% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $969 | $872–$1,066 |
| 6 bedroom Estimate | $1,096 | $986–$1,206 |
| 7 bedroom Estimate | $1,222 | $1,100–$1,344 |
| 8 bedroom Estimate | $1,349 | $1,214–$1,484 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Luquillo actually rent for?
Search any address in Luquillo for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Luquillo somewhere between $575 and $703. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$639 a month is affordable, by HUD's 30% rule, on an income of roughly $25,560 a year. Put another way, $12 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$575 | Voucher pays at 100%$639 | Voucher pays at 110%$703 |
|---|---|---|---|---|
| $2,500 | $750 | $0 | $0 | $0 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 7% from FY 2026 ($600) to FY 2027 ($639). Since FY 2020 it's up 27% in total, about 3.5% a year. The Puerto Rico median moved up 9% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $403 | $421 | $503 | $669 | $786 | — |
| FY 2021 | $396 | $434 | $495 | $679 | $803 | -1.6% |
| FY 2022 | $438 | $446 | $508 | $699 | $836 | +2.6% |
| FY 2023 | $475 | $486 | $549 | $739 | $875 | +8.1% |
| FY 2024 | $534 | $549 | $616 | $800 | $919 | +12.2% |
| FY 2025 | $503 | $506 | $589 | $740 | $828 | -4.4% |
| FY 2026 | $487 | $490 | $600 | $736 | $799 | +1.9% |
| FY 2027In effect | $495 | $498 | $639 | $782 | $843 | +6.5% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Luquillo, that runs from $495 for a studio up to $843 for four bedrooms, all five rates in the table above.
This is a metro rate. The municipio doesn't get one of its own. HUD lumps Luquillo in with 2 other municipios in the Fajardo metro, Fajardo Municipio, Ceiba Municipio among them, and every one of them gets $639 for a two-bedroom. Where you are inside the metro doesn't change the municipio number. It does change the ZIP number, covered below.
Among Puerto Rico's 78 counties, Luquillo ranks 31st for two-bedroom FMR. That's about 4% above the state median of $613 and about 40% below the national median county at $1,063. About 17,532 people live here, 63rd in the state.
Counties sharing the Fajardo metro rate
HUD sets one rate for the whole metro, so every county here carries the same $639 two-bedroom figure as Luquillo.
Questions people ask
$639 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $495 for a studio, $498 for one bedroom, $782 for three and $843 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Luquillo actually go for?
HUD's number is one input. Search any address in Luquillo for a rent estimate built from nearby comps. Free to start, no card.
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