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 | Rincón Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,815 | $132,443 | $242,182 |
| Price Trend (Annual %) | -0.1% | 0.9% | 8.2% |
| Median Gross Rent | $626 | $562 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rincón Municipio is about 62% higher than in Puerto Rico. Rent is about 11% higher than the Puerto Rico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Rincón Municipio: home prices fell about 0.1% a year while rent rose about 5.8% a year. That is an unusual pattern worth watching.
Median rent in Rincón Municipio rose about 46.3% between 2015 and 2023, from $428 to $626. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 8.5 yearly household incomes in Rincón Municipio.
Buying the median-priced home in Rincón Municipio costs roughly 28.6 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 Rincón Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Rincón Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $214,815 | $132,443 | $242,182 |
| Median Household Income | $25,298 | $25,099 | $78,145 |
| Price-to-Income Ratio | 8.5 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Rincón Municipio fell about 12.6%, while median household income rose about 66.0% 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 | Rincón Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 44.3% | 53.6% | 58.2% |
| Rental Rate | 16.7% | 25.1% | 31.3% |
| Vacancy Rate | 39.0% | 21.3% | 10.6% |
| Median Tenure (years) | 29.0 | 24.0 | 15.0 |
| Median Year Moved In | 1997 | 2002 | 2011 |
Rincón Municipio has a homeownership rate of 44.3%, lower than the Puerto Rico average of 53.6%. Its housing vacancy rate is 39.0%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Rincón Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.73 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1979 | 1980 | 1978 |
| Median Number of Rooms | 4.7 | 4.7 | 5.5 |
The typical housing unit in Rincón Municipio was built around 1979. On average, 2.7 people live in a home with about 4.7 rooms, staying for about 29.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rincón Municipio, Puerto Rico.
What is the median home price in Rincón Municipio, Puerto Rico?
The median home price in Rincón Municipio, Puerto Rico is $214,815, higher than the Puerto Rico average of $132,443.
What is the average home price in Rincón 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 Rincón Municipio, Puerto Rico?
The median gross rent in Rincón Municipio, Puerto Rico is $626 per month, higher than the Puerto Rico average of $562.
What was the median gross rent in Rincón Municipio in 2020?
In 2020, the median gross rent in Rincón Municipio, Puerto Rico was $483 per month.
What is the price-to-rent ratio in Rincón Municipio, Puerto Rico?
The price-to-rent ratio in Rincón Municipio, Puerto Rico is about 28.6, meaning it would take roughly 28.6 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 Rincón Municipio.
Are home prices or rent rising faster in Rincón Municipio, Puerto Rico?
Home prices and rent are moving in opposite directions in Rincón Municipio: home prices fell about 0.1% a year while rent rose about 5.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Rincón Municipio, Puerto Rico?
44.3% of households in Rincón Municipio, Puerto Rico own their home, lower than the Puerto Rico average of 53.6%.
What is the vacancy rate in Rincón Municipio, Puerto Rico?
The housing vacancy rate in Rincón Municipio, Puerto Rico is 39.0%, higher than the Puerto Rico average of 21.3%.