Mayagüez Municipio, Puerto Rico Housing Market Prices
Mayagüez 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 13% below the Puerto Rico median$119,770
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Median rent 16% below the Puerto Rico median Cheaper than 77% of counties in Puerto Rico$483
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Mayagüez Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,770 | $138,158 | $248,835 |
| Price Trend (Annual %) | 0.9% | 1.3% | 7.5% |
| Median Gross Rent | $483 | $578 | $1,407 |
| Rent Trend (Annual %) | 2.7% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mayagüez Municipio is about 13% lower than in Puerto Rico. Rent is about 16% 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 Mayagüez Municipio, up about 0.9% and 2.7% a year respectively. Rent is changing faster.
Median rent in Mayagüez Municipio rose about 26.0% between 2015 and 2024, from $384 to $483. Over the same span, rent in Puerto Rico rose about 26.7%.
Affordability
On average, housing unit costs 6.5 yearly household incomes in Mayagüez Municipio.
Buying the median-priced home in Mayagüez Municipio costs roughly 20.7 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 Mayagüez Municipio. The price-to-rent ratio in Puerto Rico is about 19.9.
| Metric | Mayagüez Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,770 | $138,158 | $248,835 |
| Median Household Income | $18,321 | $26,331 | $80,455 |
| Price-to-Income Ratio | 6.5 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mayagüez Municipio rose about 12.4%, while median household income rose about 30.9% 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 | Mayagüez Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 35.2% | 53.7% | 58.5% |
| Rental Rate | 35.5% | 25.3% | 31.2% |
| Vacancy Rate | 29.3% | 21.0% | 10.2% |
| Median Tenure (years) | 21.0 | 24.0 | 15.0 |
| Median Year Moved In | 2005 | 2002 | 2011 |
Mayagüez Municipio has a homeownership rate of 35.2%, lower than the Puerto Rico average of 53.7%. Its housing vacancy rate is 29.3%, compared with 21.0% in Puerto Rico.
Housing Stock
| Metric | Mayagüez Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1972 | 1980 | 1978 |
| Median Number of Rooms | 4.5 | 4.7 | 5.5 |
The typical housing unit in Mayagüez Municipio was built around 1972. On average, 2.3 people live in a home with about 4.5 rooms, staying for about 21.0 years on average.
Mayagüez Municipio, PR Housing Compared With Nearby Counties
Mayagüez Municipio, PR is the largest of the 4 counties compared here, 70,828 residents against a local median of 25,094. Mayagüez Municipio, PR's median home price, at $119,770, runs 44% below the $212,500 typical of the counties around it.
Homeownership tells the same story from another angle: 49.8% against a local median of 71.2%, 30% below it. The one measure here that carries a verdict is homeownership, and at 30% below the local median it puts Mayagüez Municipio, PR at the weaker end of the local range. The counties themselves spread $79,215 on median home price, so Mayagüez Municipio, PR sits at one end of an already wide local range rather than apart from it. Mayagüez Municipio, PR has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Mayagüez Municipio, PR | 70,828 | $119,770 #4/4 | $483 #4/4 | 49.8% #4/4 |
| Rincón Municipio, PR | 15,378 | $239,999 | $604 | 71.1% |
| Cabo Rojo Municipio, PR | 46,876 | $212,500 | $589 | 75.6% |
| Añasco Municipio, PR | 25,094 | $160,784 | $575 | 71.2% |
Frequently Asked Questions
Common questions about the housing market in Mayagüez Municipio, Puerto Rico.
What is the median home price in Mayagüez Municipio, Puerto Rico?
The median home price in Mayagüez Municipio, Puerto Rico is $119,770, lower than the Puerto Rico average of $138,158.
What is the average home price in Mayagüez Municipio, Puerto Rico?
The typical home price in Mayagüez Municipio, Puerto Rico, reported as the median sale price, is $119,770. 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 Mayagüez Municipio, Puerto Rico?
The median gross rent in Mayagüez Municipio, Puerto Rico is $483 per month, lower than the Puerto Rico average of $578.
What was the median gross rent in Mayagüez Municipio in 2020?
In 2020, the median gross rent in Mayagüez Municipio, Puerto Rico was $419 per month.
What is the price-to-rent ratio in Mayagüez Municipio, Puerto Rico?
The price-to-rent ratio in Mayagüez Municipio, Puerto Rico is about 20.7, meaning it would take roughly 20.7 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 Mayagüez Municipio.
Are home prices or rent rising faster in Mayagüez Municipio, Puerto Rico?
Both home prices and rent are rising in Mayagüez Municipio, up about 0.9% and 2.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Mayagüez Municipio, Puerto Rico?
35.2% of households in Mayagüez Municipio, Puerto Rico own their home, lower than the Puerto Rico average of 53.7%.
What is the vacancy rate in Mayagüez Municipio, Puerto Rico?
The housing vacancy rate in Mayagüez Municipio, Puerto Rico is 29.3%, higher than the Puerto Rico average of 21.0%.
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