Hormigueros Municipio, Puerto Rico Housing Market Prices
Hormigueros Municipio Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 132% above the Puerto Rico median Among the 5 most expensive counties in Puerto Rico$320,000
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Median rent 3% below the Puerto Rico median$558
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Hormigueros Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $320,000 | $138,158 | $248,835 |
| Price Trend (Annual %) | 17.3% | 1.3% | 7.5% |
| Median Gross Rent | $558 | $578 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hormigueros Municipio is about 132% higher than in Puerto Rico. Rent is about 3% lower than the Puerto Rico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hormigueros Municipio, up about 17.3% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Hormigueros Municipio rose about 28.5% between 2015 and 2024, from $434 to $558. Over the same span, rent in Puerto Rico rose about 26.7%.
Affordability
On average, housing unit costs 11.8 yearly household incomes in Hormigueros Municipio.
Buying the median-priced home in Hormigueros Municipio costs roughly 47.8 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 Hormigueros Municipio. The price-to-rent ratio in Puerto Rico is about 19.9.
| Metric | Hormigueros Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $320,000 | $138,158 | $248,835 |
| Median Household Income | $27,204 | $26,331 | $80,455 |
| Price-to-Income Ratio | 11.8 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hormigueros Municipio rose about 176.1%, while median household income rose about 25.3% between 2009 and 2025 — 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 | Hormigueros Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.7% | 53.7% | 58.5% |
| Rental Rate | 21.9% | 25.3% | 31.2% |
| Vacancy Rate | 20.3% | 21.0% | 10.2% |
| Median Tenure (years) | 27.0 | 24.0 | 15.0 |
| Median Year Moved In | 1999 | 2002 | 2011 |
Hormigueros Municipio has a homeownership rate of 57.7%, higher than the Puerto Rico average of 53.7%. Its housing vacancy rate is 20.3%, compared with 21.0% in Puerto Rico.
Housing Stock
| Metric | Hormigueros Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1980 | 1980 | 1978 |
| Median Number of Rooms | 4.8 | 4.7 | 5.5 |
The typical housing unit in Hormigueros Municipio was built around 1980. On average, 2.5 people live in a home with about 4.8 rooms, staying for about 27.0 years on average.
Hormigueros Municipio, PR Housing Compared With Nearby Counties
Hormigueros Municipio, PR is the smallest of the 4 counties compared here, 15,441 residents against a local median of 25,094. Where Hormigueros Municipio, PR breaks from the counties next to it is median home price, sitting 99% above the local median of $160,784 at $320,000.
The counties themselves sit within $89,673 of each other on median home price, a tighter band than the gap between any of them and Hormigueros Municipio, PR, which makes it a genuine outlier here rather than one end of a wide local spread. Hormigueros Municipio, PR has the highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hormigueros Municipio, PR | 15,441 | $320,000 #1/4 | $558 #3/4 | 72.5% #2/4 |
| Cabo Rojo Municipio, PR | 46,876 | $212,500 | $589 | 75.6% |
| Añasco Municipio, PR | 25,094 | $160,784 | $575 | 71.2% |
| Lajas Municipio, PR | 23,035 | $122,827 | $478 | 69.8% |
Frequently Asked Questions
Common questions about the housing market in Hormigueros Municipio, Puerto Rico.
What is the median home price in Hormigueros Municipio, Puerto Rico?
The median home price in Hormigueros Municipio, Puerto Rico is $320,000, higher than the Puerto Rico average of $138,158.
What is the average home price in Hormigueros Municipio, Puerto Rico?
The typical home price in Hormigueros Municipio, Puerto Rico, reported as the median sale price, is $320,000. 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 Hormigueros Municipio, Puerto Rico?
The median gross rent in Hormigueros Municipio, Puerto Rico is $558 per month, lower than the Puerto Rico average of $578.
What was the median gross rent in Hormigueros Municipio in 2020?
In 2020, the median gross rent in Hormigueros Municipio, Puerto Rico was $432 per month.
What is the price-to-rent ratio in Hormigueros Municipio, Puerto Rico?
The price-to-rent ratio in Hormigueros Municipio, Puerto Rico is about 47.8, meaning it would take roughly 47.8 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 Hormigueros Municipio.
Are home prices or rent rising faster in Hormigueros Municipio, Puerto Rico?
Both home prices and rent are rising in Hormigueros Municipio, up about 17.3% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hormigueros Municipio, Puerto Rico?
57.7% of households in Hormigueros Municipio, Puerto Rico own their home, higher than the Puerto Rico average of 53.7%.
What is the vacancy rate in Hormigueros Municipio, Puerto Rico?
The housing vacancy rate in Hormigueros Municipio, Puerto Rico is 20.3%, lower than the Puerto Rico average of 21.0%.
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