HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Peñuelas Municipio, Puerto Rico (FY 2027)
HUD's FY 2027 Fair Market Rent for a two-bedroom in Peñuelas Municipio is $535 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
Two-bedroom FMR
$535
+10.1% from FY 2026
Payment standard
$482–$589
90% to 110% of the FMR, two-bedroom
Income to afford
$21,400
a year, with rent at 30% of income
Rank in Puerto Rico
58th 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 | $472 | $425–$519 | $18,880 | $9.08/hr | +11.6% |
| 1 bedroom | $473 | $426–$520 | $18,920 | $9.10/hr | +6.8% |
| 2 bedroom | $535 | $482–$589 | $21,400 | $10.29/hr | +10.1% |
| 3 bedroom | $741 | $667–$815 | $29,640 | $14.25/hr | +11.6% |
| 4 bedroom | $816 | $734–$898 | $32,640 | $15.69/hr | +21.2% |
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 | $938 | $844–$1,032 |
| 6 bedroom Estimate | $1,061 | $955–$1,167 |
| 7 bedroom Estimate | $1,183 | $1,065–$1,301 |
| 8 bedroom Estimate | $1,306 | $1,175–$1,437 |
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 Peñuelas actually rent for?
Search any address in Peñuelas 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 Peñuelas somewhere between $482 and $589. 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.
$535 a month is affordable, by HUD's 30% rule, on an income of roughly $21,400 a year. Put another way, $10 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%$482 | Voucher pays at 100%$535 | Voucher pays at 110%$589 |
|---|---|---|---|---|
| $2,500 | $750 | $0 | $0 | $0 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 10% from FY 2026 ($486) to FY 2027 ($535). Since FY 2020 it's up 31% in total, about 3.9% 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 | $349 | $359 | $409 | $567 | $658 | — |
| FY 2021 | $361 | $369 | $421 | $596 | $630 | +2.9% |
| FY 2022 | $362 | $370 | $422 | $572 | $574 | +0.2% |
| FY 2023 | $385 | $393 | $444 | $594 | $596 | +5.2% |
| FY 2024 | $410 | $421 | $473 | $628 | $630 | +6.5% |
| FY 2025 | $433 | $450 | $498 | $658 | $660 | +5.3% |
| FY 2026 | $423 | $443 | $486 | $664 | $673 | -2.4% |
| FY 2027In effect | $472 | $473 | $535 | $741 | $816 | +10.1% |
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 Peñuelas, that runs from $472 for a studio up to $816 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 Peñuelas in with 2 other municipios in the Yauco metro, Yauco Municipio, Guayanilla Municipio among them, and every one of them gets $535 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, Peñuelas ranks 58th for two-bedroom FMR. That's about 13% below the state median of $613 and about 50% below the national median county at $1,063. About 19,853 people live here, 60th in the state.
Counties sharing the Yauco metro rate
HUD sets one rate for the whole metro, so every county here carries the same $535 two-bedroom figure as Peñuelas.
Questions people ask
$535 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $472 for a studio, $473 for one bedroom, $741 for three and $816 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 Peñuelas actually go for?
HUD's number is one input. Search any address in Peñuelas for a rent estimate built from nearby comps. Free to start, no card.
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