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 | San Germán Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,000 | $132,443 | $242,182 |
| Price Trend (Annual %) | 2.0% | 0.9% | 8.2% |
| Median Gross Rent | $464 | $562 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in San Germán Municipio is about 6% lower than in Puerto Rico. Rent is about 18% lower than the Puerto Rico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in San Germán Municipio, up about 2.0% and 3.4% a year respectively. Rent is changing faster.
Median rent in San Germán Municipio rose about 29.7% between 2015 and 2023, from $357 to $464. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 7.0 yearly household incomes in San Germán Municipio.
Buying the median-priced home in San Germán Municipio costs roughly 22.5 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 San Germán Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | San Germán Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,000 | $132,443 | $242,182 |
| Median Household Income | $17,754 | $25,099 | $78,145 |
| Price-to-Income Ratio | 7.0 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in San Germán Municipio rose about 66.3%, while median household income rose about 21.5% between 2009 and 2023 — 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 | San Germán Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.3% | 53.6% | 58.2% |
| Rental Rate | 24.8% | 25.1% | 31.3% |
| Vacancy Rate | 26.9% | 21.3% | 10.6% |
| Median Tenure (years) | 27.0 | 24.0 | 15.0 |
| Median Year Moved In | 1999 | 2002 | 2011 |
San Germán Municipio has a homeownership rate of 48.3%, lower than the Puerto Rico average of 53.6%. Its housing vacancy rate is 26.9%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | San Germán Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 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 San Germán Municipio was built around 1980. On average, 2.7 people live in a home with about 4.1 rooms, staying for about 27.0 years on average.
Frequently Asked Questions
Common questions about the housing market in San Germán Municipio, Puerto Rico.
What is the median home price in San Germán Municipio, Puerto Rico?
The median home price in San Germán Municipio, Puerto Rico is $125,000, lower than the Puerto Rico average of $132,443.
What is the average home price in San Germán 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 San Germán Municipio, Puerto Rico?
The median gross rent in San Germán Municipio, Puerto Rico is $464 per month, lower than the Puerto Rico average of $562.
What was the median gross rent in San Germán Municipio in 2020?
In 2020, the median gross rent in San Germán Municipio, Puerto Rico was $411 per month.
What is the price-to-rent ratio in San Germán Municipio, Puerto Rico?
The price-to-rent ratio in San Germán Municipio, Puerto Rico is about 22.5, meaning it would take roughly 22.5 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 San Germán Municipio.
Are home prices or rent rising faster in San Germán Municipio, Puerto Rico?
Both home prices and rent are rising in San Germán Municipio, up about 2.0% and 3.4% a year respectively. Rent is changing faster.
What is the homeownership rate in San Germán Municipio, Puerto Rico?
48.3% of households in San Germán Municipio, Puerto Rico own their home, lower than the Puerto Rico average of 53.6%.
What is the vacancy rate in San Germán Municipio, Puerto Rico?
The housing vacancy rate in San Germán Municipio, Puerto Rico is 26.9%, higher than the Puerto Rico average of 21.3%.