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 | Coamo Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $175,893 | $132,443 | $242,182 |
| Price Trend (Annual %) | 6.8% | 0.9% | 8.2% |
| Median Gross Rent | $520 | $562 | $1,342 |
| Rent Trend (Annual %) | 1.8% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Coamo Municipio is about 33% higher 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
Both home prices and rent are rising in Coamo Municipio, up about 6.8% and 1.8% a year respectively. Home prices are changing faster.
Median rent in Coamo Municipio rose about 18.5% between 2015 and 2023, from $439 to $520. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 8.5 yearly household incomes in Coamo Municipio.
Buying the median-priced home in Coamo Municipio costs roughly 28.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Coamo Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Coamo Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $175,893 | $132,443 | $242,182 |
| Median Household Income | $20,738 | $25,099 | $78,145 |
| Price-to-Income Ratio | 8.5 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Coamo Municipio rose about 68.6%, while median household income rose about 47.1% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Coamo Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.3% | 53.6% | 58.2% |
| Rental Rate | 19.7% | 25.1% | 31.3% |
| Vacancy Rate | 19.0% | 21.3% | 10.6% |
| Median Tenure (years) | 25.0 | 24.0 | 15.0 |
| Median Year Moved In | 2001 | 2002 | 2011 |
Coamo Municipio has a homeownership rate of 61.3%, higher than the Puerto Rico average of 53.6%. Its housing vacancy rate is 19.0%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Coamo Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1983 | 1980 | 1978 |
| Median Number of Rooms | 4.7 | 4.7 | 5.5 |
The typical housing unit in Coamo Municipio was built around 1983. On average, 2.6 people live in a home with about 4.7 rooms, staying for about 25.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Coamo Municipio, Puerto Rico.
What is the median home price in Coamo Municipio, Puerto Rico?
The median home price in Coamo Municipio, Puerto Rico is $175,893, higher than the Puerto Rico average of $132,443.
What is the average home price in Coamo 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 Coamo Municipio, Puerto Rico?
The median gross rent in Coamo Municipio, Puerto Rico is $520 per month, lower than the Puerto Rico average of $562.
What was the median gross rent in Coamo Municipio in 2020?
In 2020, the median gross rent in Coamo Municipio, Puerto Rico was $466 per month.
What is the price-to-rent ratio in Coamo Municipio, Puerto Rico?
The price-to-rent ratio in Coamo Municipio, Puerto Rico is about 28.2, meaning it would take roughly 28.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Coamo Municipio.
Are home prices or rent rising faster in Coamo Municipio, Puerto Rico?
Both home prices and rent are rising in Coamo Municipio, up about 6.8% and 1.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Coamo Municipio, Puerto Rico?
61.3% of households in Coamo Municipio, Puerto Rico own their home, higher than the Puerto Rico average of 53.6%.
What is the vacancy rate in Coamo Municipio, Puerto Rico?
The housing vacancy rate in Coamo Municipio, Puerto Rico is 19.0%, lower than the Puerto Rico average of 21.3%.