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 | Santa Isabel Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $66,136 | $132,443 | $242,182 |
| Price Trend (Annual %) | -0.2% | 0.9% | 8.2% |
| Median Gross Rent | $486 | $562 | $1,342 |
| Rent Trend (Annual %) | 2.6% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Santa Isabel Municipio is about 50% lower than in Puerto Rico. Rent is about 14% lower 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 Santa Isabel Municipio: home prices fell about 0.2% a year while rent rose about 2.6% a year. That is an unusual pattern worth watching.
Median rent in Santa Isabel Municipio rose about 18.9% between 2015 and 2023, from $408 to $486. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Santa Isabel Municipio.
Buying the median-priced home in Santa Isabel Municipio costs roughly 11.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Santa Isabel Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Santa Isabel Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $66,136 | $132,443 | $242,182 |
| Median Household Income | $23,054 | $25,099 | $78,145 |
| Price-to-Income Ratio | 2.9 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Santa Isabel Municipio fell about 18.5%, while median household income rose about 37.1% 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 | Santa Isabel Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.3% | 53.6% | 58.2% |
| Rental Rate | 17.7% | 25.1% | 31.3% |
| Vacancy Rate | 19.0% | 21.3% | 10.6% |
| Median Tenure (years) | 23.0 | 24.0 | 15.0 |
| Median Year Moved In | 2003 | 2002 | 2011 |
Santa Isabel Municipio has a homeownership rate of 63.3%, higher than the Puerto Rico average of 53.6%. Its housing vacancy rate is 19.0%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Santa Isabel Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.69 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1985 | 1980 | 1978 |
| Median Number of Rooms | 4.8 | 4.7 | 5.5 |
The typical housing unit in Santa Isabel Municipio was built around 1985. On average, 2.7 people live in a home with about 4.8 rooms, staying for about 23.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Santa Isabel Municipio, Puerto Rico.
What is the median home price in Santa Isabel Municipio, Puerto Rico?
The median home price in Santa Isabel Municipio, Puerto Rico is $66,136, lower than the Puerto Rico average of $132,443.
What is the average home price in Santa Isabel 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 Santa Isabel Municipio, Puerto Rico?
The median gross rent in Santa Isabel Municipio, Puerto Rico is $486 per month, lower than the Puerto Rico average of $562.
What was the median gross rent in Santa Isabel Municipio in 2020?
In 2020, the median gross rent in Santa Isabel Municipio, Puerto Rico was $521 per month.
What is the price-to-rent ratio in Santa Isabel Municipio, Puerto Rico?
The price-to-rent ratio in Santa Isabel Municipio, Puerto Rico is about 11.3, meaning it would take roughly 11.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Santa Isabel Municipio.
Are home prices or rent rising faster in Santa Isabel Municipio, Puerto Rico?
Home prices and rent are moving in opposite directions in Santa Isabel Municipio: home prices fell about 0.2% a year while rent rose about 2.6% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Santa Isabel Municipio, Puerto Rico?
63.3% of households in Santa Isabel Municipio, Puerto Rico own their home, higher than the Puerto Rico average of 53.6%.
What is the vacancy rate in Santa Isabel Municipio, Puerto Rico?
The housing vacancy rate in Santa Isabel Municipio, Puerto Rico is 19.0%, lower than the Puerto Rico average of 21.3%.