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 | Isabela Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $93,620 | $132,443 | $242,182 |
| Price Trend (Annual %) | 1.5% | 0.9% | 8.2% |
| Median Gross Rent | $551 | $562 | $1,342 |
| Rent Trend (Annual %) | 1.9% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Isabela Municipio is about 29% lower than in Puerto Rico. Rent is about 2% 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 Isabela Municipio, up about 1.5% and 1.9% a year respectively. Rent is changing faster.
Median rent in Isabela Municipio rose about 16.3% between 2015 and 2023, from $474 to $551. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Isabela Municipio.
Buying the median-priced home in Isabela Municipio costs roughly 14.1 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 Isabela Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Isabela Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $93,620 | $132,443 | $242,182 |
| Median Household Income | $20,383 | $25,099 | $78,145 |
| Price-to-Income Ratio | 4.6 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Isabela Municipio fell about 0.2%, while median household income rose about 56.6% 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 | Isabela Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 44.9% | 53.6% | 58.2% |
| Rental Rate | 26.0% | 25.1% | 31.3% |
| Vacancy Rate | 29.1% | 21.3% | 10.6% |
| Median Tenure (years) | 24.0 | 24.0 | 15.0 |
| Median Year Moved In | 2002 | 2002 | 2011 |
Isabela Municipio has a homeownership rate of 44.9%, lower than the Puerto Rico average of 53.6%. Its housing vacancy rate is 29.1%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Isabela Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.90 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1986 | 1980 | 1978 |
| Median Number of Rooms | 4.9 | 4.7 | 5.5 |
The typical housing unit in Isabela Municipio was built around 1986. On average, 2.9 people live in a home with about 4.9 rooms, staying for about 24.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Isabela Municipio, Puerto Rico.
What is the median home price in Isabela Municipio, Puerto Rico?
The median home price in Isabela Municipio, Puerto Rico is $93,620, lower than the Puerto Rico average of $132,443.
What is the average home price in Isabela 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 Isabela Municipio, Puerto Rico?
The median gross rent in Isabela Municipio, Puerto Rico is $551 per month, lower than the Puerto Rico average of $562.
What was the median gross rent in Isabela Municipio in 2020?
In 2020, the median gross rent in Isabela Municipio, Puerto Rico was $468 per month.
What is the price-to-rent ratio in Isabela Municipio, Puerto Rico?
The price-to-rent ratio in Isabela Municipio, Puerto Rico is about 14.1, meaning it would take roughly 14.1 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 Isabela Municipio.
Are home prices or rent rising faster in Isabela Municipio, Puerto Rico?
Both home prices and rent are rising in Isabela Municipio, up about 1.5% and 1.9% a year respectively. Rent is changing faster.
What is the homeownership rate in Isabela Municipio, Puerto Rico?
44.9% of households in Isabela Municipio, Puerto Rico own their home, lower than the Puerto Rico average of 53.6%.
What is the vacancy rate in Isabela Municipio, Puerto Rico?
The housing vacancy rate in Isabela Municipio, Puerto Rico is 29.1%, higher than the Puerto Rico average of 21.3%.