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 | Ceiba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,762 | $132,443 | $242,182 |
| Price Trend (Annual %) | -0.8% | 0.9% | 8.2% |
| Median Gross Rent | $522 | $562 | $1,342 |
| Rent Trend (Annual %) | 1.8% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ceiba Municipio is about 41% lower than in Puerto Rico. Rent is about 7% 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 Ceiba Municipio: home prices fell about 0.8% a year while rent rose about 1.8% a year. That is an unusual pattern worth watching.
Median rent in Ceiba Municipio rose about 9.5% between 2015 and 2023, from $476 to $522. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Ceiba Municipio.
Buying the median-priced home in Ceiba Municipio costs roughly 12.4 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 Ceiba Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Ceiba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $77,762 | $132,443 | $242,182 |
| Median Household Income | $23,272 | $25,099 | $78,145 |
| Price-to-Income Ratio | 3.3 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Ceiba Municipio fell about 43.1%, while median household income rose about 35.0% 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 | Ceiba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.6% | 53.6% | 58.2% |
| Rental Rate | 14.9% | 25.1% | 31.3% |
| Vacancy Rate | 43.5% | 21.3% | 10.6% |
| Median Tenure (years) | 24.0 | 24.0 | 15.0 |
| Median Year Moved In | 2002 | 2002 | 2011 |
Ceiba Municipio has a homeownership rate of 41.6%, lower than the Puerto Rico average of 53.6%. Its housing vacancy rate is 43.5%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Ceiba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1982 | 1980 | 1978 |
| Median Number of Rooms | 4.1 | 4.7 | 5.5 |
The typical housing unit in Ceiba Municipio was built around 1982. On average, 2.7 people live in a home with about 4.1 rooms, staying for about 24.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ceiba Municipio, Puerto Rico.
What is the median home price in Ceiba Municipio, Puerto Rico?
The median home price in Ceiba Municipio, Puerto Rico is $77,762, lower than the Puerto Rico average of $132,443.
What is the average home price in Ceiba 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 Ceiba Municipio, Puerto Rico?
The median gross rent in Ceiba Municipio, Puerto Rico is $522 per month, lower than the Puerto Rico average of $562.
What was the median gross rent in Ceiba Municipio in 2020?
In 2020, the median gross rent in Ceiba Municipio, Puerto Rico was $497 per month.
What is the price-to-rent ratio in Ceiba Municipio, Puerto Rico?
The price-to-rent ratio in Ceiba Municipio, Puerto Rico is about 12.4, meaning it would take roughly 12.4 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 Ceiba Municipio.
Are home prices or rent rising faster in Ceiba Municipio, Puerto Rico?
Home prices and rent are moving in opposite directions in Ceiba Municipio: home prices fell about 0.8% a year while rent rose about 1.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Ceiba Municipio, Puerto Rico?
41.6% of households in Ceiba Municipio, Puerto Rico own their home, lower than the Puerto Rico average of 53.6%.
What is the vacancy rate in Ceiba Municipio, Puerto Rico?
The housing vacancy rate in Ceiba Municipio, Puerto Rico is 43.5%, higher than the Puerto Rico average of 21.3%.