Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Arroyo Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $132,443 | $242,182 |
| Price Trend (Annual %) | -2.4% | 0.9% | 8.2% |
| Median Gross Rent | $465 | $562 | $1,342 |
| Rent Trend (Annual %) | 0.4% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Arroyo Municipio is about 43% lower than in Puerto Rico. Rent is about 17% lower than the Puerto Rico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Arroyo Municipio: home prices fell about 2.4% a year while rent rose about 0.4% a year. That is an unusual pattern worth watching.
Median rent in Arroyo Municipio rose about 2.8% between 2015 and 2023, from $453 to $465. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Arroyo Municipio.
Buying the median-priced home in Arroyo Municipio costs roughly 13.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Arroyo Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Arroyo Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $132,443 | $242,182 |
| Median Household Income | $18,646 | $25,099 | $78,145 |
| Price-to-Income Ratio | 4.0 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Arroyo Municipio fell about 12.2%, while median household income rose about 25.2% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Arroyo Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.4% | 53.6% | 58.2% |
| Rental Rate | 18.3% | 25.1% | 31.3% |
| Vacancy Rate | 21.3% | 21.3% | 10.6% |
| Median Tenure (years) | 24.0 | 24.0 | 15.0 |
| Median Year Moved In | 2002 | 2002 | 2011 |
Arroyo Municipio has a homeownership rate of 60.4%, higher than the Puerto Rico average of 53.6%. Its housing vacancy rate is 21.3%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Arroyo Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1983 | 1980 | 1978 |
| Median Number of Rooms | 4.5 | 4.7 | 5.5 |
The typical housing unit in Arroyo Municipio was built around 1983. On average, 2.4 people live in a home with about 4.5 rooms, staying for about 24.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Arroyo Municipio, Puerto Rico.
What is the median home price in Arroyo Municipio, Puerto Rico?
The median home price in Arroyo Municipio, Puerto Rico is $75,000, lower than the Puerto Rico average of $132,443.
What is the average home price in Arroyo Municipio, Puerto Rico?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Arroyo Municipio, Puerto Rico?
The median gross rent in Arroyo Municipio, Puerto Rico is $465 per month, lower than the Puerto Rico average of $562.
What was the median gross rent in Arroyo Municipio in 2020?
In 2020, the median gross rent in Arroyo Municipio, Puerto Rico was $434 per month.
What is the price-to-rent ratio in Arroyo Municipio, Puerto Rico?
The price-to-rent ratio in Arroyo Municipio, Puerto Rico is about 13.4, meaning it would take roughly 13.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Arroyo Municipio.
Are home prices or rent rising faster in Arroyo Municipio, Puerto Rico?
Home prices and rent are moving in opposite directions in Arroyo Municipio: home prices fell about 2.4% a year while rent rose about 0.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Arroyo Municipio, Puerto Rico?
60.4% of households in Arroyo Municipio, Puerto Rico own their home, higher than the Puerto Rico average of 53.6%.
What is the vacancy rate in Arroyo Municipio, Puerto Rico?
The housing vacancy rate in Arroyo Municipio, Puerto Rico is 21.3%, about the same as the Puerto Rico average.