Summary Background

HOUSING

% Owner Occupied

52.5%

Southern Puerto Rico EDD

Spend 35% or More of Annual HHI on Rent*

19.47%

Southern Puerto Rico EDD

* 53.89% not computed

 

Median Gross Rent

$304

Southern Puerto Rico EDD

Median Monthly Cost of a Mortgage

$710

Southern Puerto Rico EDD

With respect to housing units in the SPREDD region, according to the U.S. Census, there are 128,362 units.15 Various news accounts and stakeholder interactions indicate that over 8,000 housing units were damaged as a result of the earthquakes. A conventional indicator of U.S. housing affordability is the percentage of income spent on housing. Housing expenditures that exceed 30% of household income have historically been viewed as an indicator of a housing affordability problem, according to the University of Pennsylvania’s Wharton Real Estate Center. The 30% of household income metric is also cited by the U.S. Census Bureau as a key affordability metric. Based on the 30% of household income metric, there appears to be adequate affordable rental units in all six municipalities.

15 2019 U.S. Census Bureau; 2019 American Community Survey 5 Year Estimates

Table 3: Housing data; Source: U.S. Census Bureau; 2019 American Community Survey 5 Year Estimates