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 | Maricao Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,285 | $132,443 | $242,182 |
| Price Trend (Annual %) | 0.4% | 0.9% | 8.2% |
| Median Gross Rent | $405 | $562 | $1,342 |
| Rent Trend (Annual %) | 6.2% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Maricao Municipio is about 36% lower than in Puerto Rico. Rent is about 28% lower than the Puerto Rico average.
Median Home and Rent Price Trends
Median Home Prices, 2016-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Maricao Municipio, up about 0.4% and 6.2% a year respectively. Rent is changing faster.
Median rent in Maricao Municipio rose about 44.8% between 2015 and 2023, from $280 to $405. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Maricao Municipio.
Buying the median-priced home in Maricao Municipio costs roughly 17.3 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Maricao Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Maricao Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,285 | $132,443 | $242,182 |
| Median Household Income | $20,611 | $25,099 | $78,145 |
| Price-to-Income Ratio | 4.1 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2016 and 2023, the median home price in Maricao Municipio rose about 1.8%, while median household income rose about 78.5% 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 | Maricao Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.4% | 53.6% | 58.2% |
| Rental Rate | 16.8% | 25.1% | 31.3% |
| Vacancy Rate | 29.8% | 21.3% | 10.6% |
| Median Tenure (years) | 28.0 | 24.0 | 15.0 |
| Median Year Moved In | 1998 | 2002 | 2011 |
Maricao Municipio has a homeownership rate of 53.4%, about the same as the Puerto Rico average of 53.6%. Its housing vacancy rate is 29.8%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Maricao Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.84 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1980 | 1980 | 1978 |
| Median Number of Rooms | 4.1 | 4.7 | 5.5 |
The typical housing unit in Maricao Municipio was built around 1980. On average, 2.8 people live in a home with about 4.1 rooms, staying for about 28.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Maricao Municipio, Puerto Rico.
What is the median home price in Maricao Municipio, Puerto Rico?
The median home price in Maricao Municipio, Puerto Rico is $84,285, lower than the Puerto Rico average of $132,443.
What is the average home price in Maricao 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 Maricao Municipio, Puerto Rico?
The median gross rent in Maricao Municipio, Puerto Rico is $405 per month, lower than the Puerto Rico average of $562.
What was the median gross rent in Maricao Municipio in 2020?
In 2020, the median gross rent in Maricao Municipio, Puerto Rico was $352 per month.
What is the price-to-rent ratio in Maricao Municipio, Puerto Rico?
The price-to-rent ratio in Maricao Municipio, Puerto Rico is about 17.3, meaning it would take roughly 17.3 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Maricao Municipio.
Are home prices or rent rising faster in Maricao Municipio, Puerto Rico?
Both home prices and rent are rising in Maricao Municipio, up about 0.4% and 6.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Maricao Municipio, Puerto Rico?
53.4% of households in Maricao Municipio, Puerto Rico own their home, about the same as the Puerto Rico average.
What is the vacancy rate in Maricao Municipio, Puerto Rico?
The housing vacancy rate in Maricao Municipio, Puerto Rico is 29.8%, higher than the Puerto Rico average of 21.3%.