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 | Florida Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $132,443 | $242,182 |
| Price Trend (Annual %) | -2.3% | 0.9% | 8.2% |
| Median Gross Rent | $671 | $562 | $1,342 |
| Rent Trend (Annual %) | 6.0% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Florida Municipio is about 43% lower than in Puerto Rico. Rent is about 19% higher 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 Florida Municipio: home prices fell about 2.3% a year while rent rose about 6.0% a year. That is an unusual pattern worth watching.
Median rent in Florida Municipio rose about 53.8% between 2015 and 2023, from $436 to $671. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 3.6 yearly household incomes in Florida Municipio.
Buying the median-priced home in Florida Municipio costs roughly 9.3 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 Florida Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Florida Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $132,443 | $242,182 |
| Median Household Income | $21,075 | $25,099 | $78,145 |
| Price-to-Income Ratio | 3.6 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Florida Municipio fell about 50.2%, while median household income rose about 32.3% 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 | Florida Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.5% | 53.6% | 58.2% |
| Rental Rate | 27.2% | 25.1% | 31.3% |
| Vacancy Rate | 10.3% | 21.3% | 10.6% |
| Median Tenure (years) | 23.0 | 24.0 | 15.0 |
| Median Year Moved In | 2003 | 2002 | 2011 |
Florida Municipio has a homeownership rate of 62.5%, higher than the Puerto Rico average of 53.6%. Its housing vacancy rate is 10.3%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Florida Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.56 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1982 | 1980 | 1978 |
| Median Number of Rooms | 5.1 | 4.7 | 5.5 |
The typical housing unit in Florida Municipio was built around 1982. On average, 2.6 people live in a home with about 5.1 rooms, staying for about 23.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Florida Municipio, Puerto Rico.
What is the median home price in Florida Municipio, Puerto Rico?
The median home price in Florida Municipio, Puerto Rico is $75,000, lower than the Puerto Rico average of $132,443.
What is the average home price in Florida 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 Florida Municipio, Puerto Rico?
The median gross rent in Florida Municipio, Puerto Rico is $671 per month, higher than the Puerto Rico average of $562.
What was the median gross rent in Florida Municipio in 2020?
In 2020, the median gross rent in Florida Municipio, Puerto Rico was $582 per month.
What is the price-to-rent ratio in Florida Municipio, Puerto Rico?
The price-to-rent ratio in Florida Municipio, Puerto Rico is about 9.3, meaning it would take roughly 9.3 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 Florida Municipio.
Are home prices or rent rising faster in Florida Municipio, Puerto Rico?
Home prices and rent are moving in opposite directions in Florida Municipio: home prices fell about 2.3% a year while rent rose about 6.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Florida Municipio, Puerto Rico?
62.5% of households in Florida Municipio, Puerto Rico own their home, higher than the Puerto Rico average of 53.6%.
What is the vacancy rate in Florida Municipio, Puerto Rico?
The housing vacancy rate in Florida Municipio, Puerto Rico is 10.3%, lower than the Puerto Rico average of 21.3%.