Buying a home in Puerto Rico now costs more than $220,000 on average, new or used, according to a Estudios Técnicos analysis of its Housing Affordability Index published in May 2026. The average price of used homes rose 4% in 2025 over the prior year, to $223,155. New homes averaged $421,191, up 7.1%.
A family would need an annual income of $105,297 to afford a new home, about triple the island’s median household income of $34,730 (2024 Puerto Rico Community Survey, U.S. Census Bureau). Economist Leslie Adames told Primera Hora that a housing shortage amid high demand is pressuring prices. Costs have trended upward since the end of the COVID-19 pandemic, when supply chain disruptions caused shortages and higher construction material prices.
The number of households fell from 1,376,531 to 1,330,985 in 2025. The analysis found metal construction products have risen 68% in cost since 2019. Iron and steel, which carry an additional 50% tariff imposed by President Donald Trump, are up 65% since 2019, and construction lumber is up 28%.
Adames urged the Puerto Rico government to identify abandoned or unused homes in town centers that could be refurbished and brought to market. He also proposed building apartments "upward" instead of housing developments, and said the government, within its fiscal limits, could create incentives, aid, credits or subsidies so such units get built.