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 | Toa Baja Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $139,924 | $132,443 | $242,182 |
| Price Trend (Annual %) | 2.4% | 0.9% | 8.2% |
| Median Gross Rent | $708 | $562 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Toa Baja Municipio is about 6% higher than in Puerto Rico. Rent is about 26% higher 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 Toa Baja Municipio, up about 2.4% and 3.6% a year respectively. Rent is changing faster.
Median rent in Toa Baja Municipio rose about 30.7% between 2015 and 2023, from $542 to $708. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Toa Baja Municipio.
Buying the median-priced home in Toa Baja Municipio costs roughly 16.5 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Toa Baja Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Toa Baja Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $139,924 | $132,443 | $242,182 |
| Median Household Income | $29,637 | $25,099 | $78,145 |
| Price-to-Income Ratio | 4.7 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Toa Baja Municipio rose about 3.8%, while median household income rose about 25.5% 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 | Toa Baja Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.3% | 53.6% | 58.2% |
| Rental Rate | 23.9% | 25.1% | 31.3% |
| Vacancy Rate | 17.8% | 21.3% | 10.6% |
| Median Tenure (years) | 24.0 | 24.0 | 15.0 |
| Median Year Moved In | 2002 | 2002 | 2011 |
Toa Baja Municipio has a homeownership rate of 58.3%, higher than the Puerto Rico average of 53.6%. Its housing vacancy rate is 17.8%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Toa Baja Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1976 | 1980 | 1978 |
| Median Number of Rooms | 4.8 | 4.7 | 5.5 |
The typical housing unit in Toa Baja Municipio was built around 1976. On average, 2.5 people live in a home with about 4.8 rooms, staying for about 24.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Toa Baja Municipio, Puerto Rico.
What is the median home price in Toa Baja Municipio, Puerto Rico?
The median home price in Toa Baja Municipio, Puerto Rico is $139,924, higher than the Puerto Rico average of $132,443.
What is the average home price in Toa Baja 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 Toa Baja Municipio, Puerto Rico?
The median gross rent in Toa Baja Municipio, Puerto Rico is $708 per month, higher than the Puerto Rico average of $562.
What was the median gross rent in Toa Baja Municipio in 2020?
In 2020, the median gross rent in Toa Baja Municipio, Puerto Rico was $594 per month.
What is the price-to-rent ratio in Toa Baja Municipio, Puerto Rico?
The price-to-rent ratio in Toa Baja Municipio, Puerto Rico is about 16.5, meaning it would take roughly 16.5 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Toa Baja Municipio.
Are home prices or rent rising faster in Toa Baja Municipio, Puerto Rico?
Both home prices and rent are rising in Toa Baja Municipio, up about 2.4% and 3.6% a year respectively. Rent is changing faster.
What is the homeownership rate in Toa Baja Municipio, Puerto Rico?
58.3% of households in Toa Baja Municipio, Puerto Rico own their home, higher than the Puerto Rico average of 53.6%.
What is the vacancy rate in Toa Baja Municipio, Puerto Rico?
The housing vacancy rate in Toa Baja Municipio, Puerto Rico is 17.8%, lower than the Puerto Rico average of 21.3%.