Lares Municipio, Puerto Rico Housing Market Prices
Lares 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 52% below the Puerto Rico median Cheaper than 87% of counties in Puerto Rico$66,448
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Median rent 13% below the Puerto Rico median$505
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lares Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $66,448 | $138,158 | $248,835 |
| Price Trend (Annual %) | 0.6% | 1.3% | 7.5% |
| Median Gross Rent | $505 | $578 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lares Municipio is about 52% lower than in Puerto Rico. Rent is about 13% 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 Lares Municipio, up about 0.6% and 3.6% a year respectively. Rent is changing faster.
Median rent in Lares Municipio rose about 31.7% between 2015 and 2024, from $383 to $505. Over the same span, rent in Puerto Rico rose about 26.7%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Lares Municipio.
Buying the median-priced home in Lares Municipio costs roughly 11.0 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 Lares Municipio. The price-to-rent ratio in Puerto Rico is about 19.9.
| Metric | Lares Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $66,448 | $138,158 | $248,835 |
| Median Household Income | $18,989 | $26,331 | $80,455 |
| Price-to-Income Ratio | 3.5 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lares Municipio fell about 30.3%, while median household income rose about 42.9% between 2009 and 2025 — 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 | Lares Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.5% | 53.7% | 58.5% |
| Rental Rate | 30.8% | 25.3% | 31.2% |
| Vacancy Rate | 16.6% | 21.0% | 10.2% |
| Median Tenure (years) | 26.0 | 24.0 | 15.0 |
| Median Year Moved In | 2000 | 2002 | 2011 |
Lares Municipio has a homeownership rate of 52.5%, lower than the Puerto Rico average of 53.7%. Its housing vacancy rate is 16.6%, compared with 21.0% in Puerto Rico.
Housing Stock
| Metric | Lares Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1984 | 1980 | 1978 |
| Median Number of Rooms | 4.9 | 4.7 | 5.5 |
The typical housing unit in Lares Municipio was built around 1984. On average, 2.6 people live in a home with about 4.9 rooms, staying for about 26.0 years on average.
Lares Municipio, PR Housing Compared With Nearby Counties
How Lares Municipio, PR compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lares Municipio, PR | 27,856 | $66,448 #3/3 | $505 #2/3 | 63.0% #3/3 |
| San Sebastián Municipio, PR | 39,088 | $195,252 | $508 | 74.7% |
| Utuado Municipio, PR | 27,621 | $82,222 | $475 | 65.3% |
Frequently Asked Questions
Common questions about the housing market in Lares Municipio, Puerto Rico.
What is the median home price in Lares Municipio, Puerto Rico?
The median home price in Lares Municipio, Puerto Rico is $66,448, lower than the Puerto Rico average of $138,158.
What is the average home price in Lares Municipio, Puerto Rico?
The typical home price in Lares Municipio, Puerto Rico, reported as the median sale price, is $66,448. 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 Lares Municipio, Puerto Rico?
The median gross rent in Lares Municipio, Puerto Rico is $505 per month, lower than the Puerto Rico average of $578.
What was the median gross rent in Lares Municipio in 2020?
In 2020, the median gross rent in Lares Municipio, Puerto Rico was $443 per month.
What is the price-to-rent ratio in Lares Municipio, Puerto Rico?
The price-to-rent ratio in Lares Municipio, Puerto Rico is about 11.0, meaning it would take roughly 11.0 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 Lares Municipio.
Are home prices or rent rising faster in Lares Municipio, Puerto Rico?
Both home prices and rent are rising in Lares Municipio, up about 0.6% and 3.6% a year respectively. Rent is changing faster.
What is the homeownership rate in Lares Municipio, Puerto Rico?
52.5% of households in Lares Municipio, Puerto Rico own their home, lower than the Puerto Rico average of 53.7%.
What is the vacancy rate in Lares Municipio, Puerto Rico?
The housing vacancy rate in Lares Municipio, Puerto Rico is 16.6%, lower than the Puerto Rico average of 21.0%.
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