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 | Villalba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $23,408 | $132,443 | $242,182 |
| Price Trend (Annual %) | -9.3% | 0.9% | 8.2% |
| Median Gross Rent | $518 | $562 | $1,342 |
| Rent Trend (Annual %) | 5.7% | 2.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Villalba Municipio is about 82% lower than in Puerto Rico. Rent is about 8% 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 Villalba Municipio: home prices fell about 9.3% a year while rent rose about 5.7% a year. That is an unusual pattern worth watching.
Median rent in Villalba Municipio rose about 57.6% between 2015 and 2023, from $329 to $518. Over the same span, rent in Puerto Rico rose about 23.3%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Villalba Municipio.
Buying the median-priced home in Villalba Municipio costs roughly 3.8 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 Villalba Municipio. The price-to-rent ratio in Puerto Rico is about 19.6.
| Metric | Villalba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Median Home Price | $23,408 | $132,443 | $242,182 |
| Median Household Income | $24,891 | $25,099 | $78,145 |
| Price-to-Income Ratio | 0.9 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Villalba Municipio fell about 75.0%, while median household income rose about 66.4% 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 | Villalba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.9% | 53.6% | 58.2% |
| Rental Rate | 17.7% | 25.1% | 31.3% |
| Vacancy Rate | 17.4% | 21.3% | 10.6% |
| Median Tenure (years) | 26.0 | 24.0 | 15.0 |
| Median Year Moved In | 2000 | 2002 | 2011 |
Villalba Municipio has a homeownership rate of 64.9%, higher than the Puerto Rico average of 53.6%. Its housing vacancy rate is 17.4%, compared with 21.3% in Puerto Rico.
Housing Stock
| Metric | Villalba Municipio | Puerto Rico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.85 people | 2.59 people | 2.54 people |
| Median Structure Built Year | 1985 | 1980 | 1978 |
| Median Number of Rooms | 4.7 | 4.7 | 5.5 |
The typical housing unit in Villalba Municipio was built around 1985. On average, 2.9 people live in a home with about 4.7 rooms, staying for about 26.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Villalba Municipio, Puerto Rico.
What is the median home price in Villalba Municipio, Puerto Rico?
The median home price in Villalba Municipio, Puerto Rico is $23,408, lower than the Puerto Rico average of $132,443.
What is the average home price in Villalba 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 Villalba Municipio, Puerto Rico?
The median gross rent in Villalba Municipio, Puerto Rico is $518 per month, lower than the Puerto Rico average of $562.
What was the median gross rent in Villalba Municipio in 2020?
In 2020, the median gross rent in Villalba Municipio, Puerto Rico was $438 per month.
What is the price-to-rent ratio in Villalba Municipio, Puerto Rico?
The price-to-rent ratio in Villalba Municipio, Puerto Rico is about 3.8, meaning it would take roughly 3.8 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 Villalba Municipio.
Are home prices or rent rising faster in Villalba Municipio, Puerto Rico?
Home prices and rent are moving in opposite directions in Villalba Municipio: home prices fell about 9.3% a year while rent rose about 5.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Villalba Municipio, Puerto Rico?
64.9% of households in Villalba Municipio, Puerto Rico own their home, higher than the Puerto Rico average of 53.6%.
What is the vacancy rate in Villalba Municipio, Puerto Rico?
The housing vacancy rate in Villalba Municipio, Puerto Rico is 17.4%, lower than the Puerto Rico average of 21.3%.