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 | Culebra Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $197,916 | $132,443 | $242,182 |
| Price Trend (Annual %) | -8.4% | 0.9% | 8.2% |
| Median Gross Rent | $547 | $562 | $1,342 |
| Rent Trend (Annual %) | -0.8% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Culebra Municipio is about 49% higher than in Puerto Rico. Rent is about 3% 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 falling in Culebra Municipio, down about 8.4% and 0.8% a year respectively. Home prices are changing faster.
Median rent in Culebra Municipio rose about 2.6% between 2015 and 2023, from $533 to $547. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 7.0 yearly household incomes in Culebra Municipio.
Buying the median-priced home in Culebra Municipio costs roughly 30.2 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 Culebra Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Culebra Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $197,916 | $132,443 | $242,182 |
| Median Household Income | $28,455 | $25,099 | $78,145 |
| Price-to-Income Ratio | 7.0 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Culebra Municipio fell about 28.0%, while median household income rose about 38.5% 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 | Culebra Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 19.5% | 53.6% | 58.2% |
| Rental Rate | 10.0% | 25.1% | 31.3% |
| Vacancy Rate | 70.5% | 21.3% | 10.6% |
| Median Tenure (years) | 24.0 | 24.0 | 15.0 |
| Median Year Moved In | 2002 | 2002 | 2011 |
Culebra Municipio has a homeownership rate of 19.5%, lower than the Puerto Rico average of 53.6%. Its housing vacancy rate is 70.5%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Culebra Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.99 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1994 | 1980 | 1978 |
| Median Number of Rooms | 3.1 | 4.7 | 5.5 |
The typical housing unit in Culebra Municipio was built around 1994. On average, 3.0 people live in a home with about 3.1 rooms, staying for about 24.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Culebra Municipio, Puerto Rico.
What is the median home price in Culebra Municipio, Puerto Rico?
The median home price in Culebra Municipio, Puerto Rico is $197,916, higher than the Puerto Rico average of $132,443.
What is the average home price in Culebra 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 Culebra Municipio, Puerto Rico?
The median gross rent in Culebra Municipio, Puerto Rico is $547 per month, lower than the Puerto Rico average of $562.
What was the median gross rent in Culebra Municipio in 2020?
In 2020, the median gross rent in Culebra Municipio, Puerto Rico was $541 per month.
What is the price-to-rent ratio in Culebra Municipio, Puerto Rico?
The price-to-rent ratio in Culebra Municipio, Puerto Rico is about 30.2, meaning it would take roughly 30.2 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 Culebra Municipio.
Are home prices or rent rising faster in Culebra Municipio, Puerto Rico?
Both home prices and rent are falling in Culebra Municipio, down about 8.4% and 0.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Culebra Municipio, Puerto Rico?
19.5% of households in Culebra Municipio, Puerto Rico own their home, lower than the Puerto Rico average of 53.6%.
What is the vacancy rate in Culebra Municipio, Puerto Rico?
The housing vacancy rate in Culebra Municipio, Puerto Rico is 70.5%, higher than the Puerto Rico average of 21.3%.