Morovis Municipio, Puerto Rico Housing Market Prices
Morovis 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 10% above the Puerto Rico median$151,492
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Median rent 7% above the Puerto Rico median More expensive than 83% of counties in Puerto Rico$618
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Morovis Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,492 | $138,158 | $248,835 |
| Price Trend (Annual %) | 10.4% | 1.3% | 7.5% |
| Median Gross Rent | $618 | $578 | $1,407 |
| Rent Trend (Annual %) | 3.0% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Morovis Municipio is about 10% higher than in Puerto Rico. Rent is about 7% higher 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 Morovis Municipio, up about 10.4% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Morovis Municipio rose about 30.9% between 2015 and 2024, from $472 to $618. Over the same span, rent in Puerto Rico rose about 26.7%.
Affordability
On average, housing unit costs 6.1 yearly household incomes in Morovis Municipio.
Buying the median-priced home in Morovis Municipio costs roughly 20.4 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 Morovis Municipio. The price-to-rent ratio in Puerto Rico is about 19.9.
| Metric | Morovis Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,492 | $138,158 | $248,835 |
| Median Household Income | $25,003 | $26,331 | $80,455 |
| Price-to-Income Ratio | 6.1 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Morovis Municipio rose about 105.1%, while median household income rose about 68.3% 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 | Morovis Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.1% | 53.7% | 58.5% |
| Rental Rate | 22.7% | 25.3% | 31.2% |
| Vacancy Rate | 14.2% | 21.0% | 10.2% |
| Median Tenure (years) | 25.0 | 24.0 | 15.0 |
| Median Year Moved In | 2001 | 2002 | 2011 |
Morovis Municipio has a homeownership rate of 63.1%, higher than the Puerto Rico average of 53.7%. Its housing vacancy rate is 14.2%, compared with 21.0% in Puerto Rico.
Housing Stock
| Metric | Morovis Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1987 | 1980 | 1978 |
| Median Number of Rooms | 4.8 | 4.7 | 5.5 |
The typical housing unit in Morovis Municipio was built around 1987. On average, 2.6 people live in a home with about 4.8 rooms, staying for about 25.0 years on average.
Morovis Municipio, PR Housing Compared With Nearby Counties
How Morovis Municipio, PR compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Morovis Municipio, PR | 28,397 | $151,492 #1/3 | $618 #2/3 | 73.5% #3/3 |
| Corozal Municipio, PR | 34,444 | $133,407 | $496 | 75.3% |
| Vega Baja Municipio, PR | 53,890 | $113,309 | $649 | 74.8% |
Frequently Asked Questions
Common questions about the housing market in Morovis Municipio, Puerto Rico.
What is the median home price in Morovis Municipio, Puerto Rico?
The median home price in Morovis Municipio, Puerto Rico is $151,492, higher than the Puerto Rico average of $138,158.
What is the average home price in Morovis Municipio, Puerto Rico?
The typical home price in Morovis Municipio, Puerto Rico, reported as the median sale price, is $151,492. 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 Morovis Municipio, Puerto Rico?
The median gross rent in Morovis Municipio, Puerto Rico is $618 per month, higher than the Puerto Rico average of $578.
What was the median gross rent in Morovis Municipio in 2020?
In 2020, the median gross rent in Morovis Municipio, Puerto Rico was $496 per month.
What is the price-to-rent ratio in Morovis Municipio, Puerto Rico?
The price-to-rent ratio in Morovis Municipio, Puerto Rico is about 20.4, meaning it would take roughly 20.4 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 Morovis Municipio.
Are home prices or rent rising faster in Morovis Municipio, Puerto Rico?
Both home prices and rent are rising in Morovis Municipio, up about 10.4% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Morovis Municipio, Puerto Rico?
63.1% of households in Morovis Municipio, Puerto Rico own their home, higher than the Puerto Rico average of 53.7%.
What is the vacancy rate in Morovis Municipio, Puerto Rico?
The housing vacancy rate in Morovis Municipio, Puerto Rico is 14.2%, lower than the Puerto Rico average of 21.0%.
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