Puerto Rico · Real estate data

San Germán, PR

0.125M people1 counties#7 of 8 in Puerto Rico$15,584 median HHIUpdated April 10, 2026

Investor first look

The numbers that matter most

What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.

expensive

Price to income

6.38×

The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.

vs Puerto Rico: 4.99×+1.39
vs U.S.: 3.43×+2.95

Benchmark

6.38×

▼

affordable

moderate

expensive

0×–3×

3×–5×

5×–7×

ACS median home value ÷ median HHI

burdened

Rent to income

41.5%

What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.

vs Puerto Rico: 31.3%+10.2
vs U.S.: 23.3%+18.2

Benchmark

41.5%

▼

comfortable

moderate

burdened

15%–25%

25%–30%

30%–40%

(HUD FMR 2BR × 12) ÷ median HHI

deal-by-deal

Cap rate proxy

4.23%

Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.

vs Puerto Rico: 3.78%+0.44
vs U.S.: 4.35%-0.12

Benchmark

4.23%

▼

tight

deal-by-deal

solid

1%–3%

3%–5%

5%–7%

(FMR 2BR × 12 × 0.65) ÷ ACS median home value

shrinking

Net migration

0.00%

Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.

vs Puerto Rico: 0.00%=
vs U.S.: 0.03%-0.03

Benchmark

0.00%

▼

shrinking

steady

verdict.growing

-1%–-0.1%

-0.1%–+0.1%

+0.1%–+1%

IRS net migration ÷ population

Permit pipeline

—

permits per 1,000 residents

Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.

vs U.S.: 3.53

Benchmark

tight

moderate

strong

0–2

2–5

5–10

Census BPS permits TTM ÷ population × 1,000

Unemployment

—

Tighter unemployment means higher wages, more rental demand, lower vacancy.

vs Puerto Rico: 7.8%
vs U.S.: 4.5%

Benchmark

healthy

normal

loose

2%–4%

4%–5.5%

5.5%–8%

BLS LAUS, latest month

balanced buyer mix

Investor loan share

8.3%

36 purchase loans · 21.4% denial rate · 2024

Share of financed home purchases going to investors. Above ~15% means landlords are outbidding owner-occupants; below ~8% is owner-dominated.

Benchmark

8.3%

▼

owner-dominant

balanced

investor-heavy

0%–8%

8%–15%

15%–30%

Investor purchase loans ÷ all purchase loans (CFPB HMDA LAR, annual)

Home values

Where prices are and where they've been

5-year price appreciation

+42.2%

homeValues.yearOverYear

+8.9%

Median home value

$99,500

Rents

The rent ladder

Bedroom	Monthly	Annual	% of median HHI
1 BR	—	—	—
2 BR	$539	$6,468	41.5%
3 BR	—	—	—

Jobs & income

Labor market direction

Unemployment

—

Median household income

$15,584

Supply pipeline

What's being built

Total TTM

—

Single-family

—

2–4 unit

—

5+ unit

—

Counties

All 1 counties, ranked by population

County	Population	Home value	Median HHI	Permits TTM	YoY
Lajas Municipio	23,202	$102,400	$18,920	—	—

Peer metros

Similar metros nationally

Metro	Pop	Med HHI	P/I	Cap proxy	HPI 5y	Permits/1k	Unemp
★San Germán	124,504	$15,584	6.38×	4.23%	+42.2%	—	—%
Mayagüez, PR	97,118	$20,400	—	—	+42.2%	—	8.6%
Arecibo, PR	181,820	$24,436	—	—	+42.2%	—	6.2%
Ponce, PR	222,831	$20,646	—	—	+42.2%	—	8.4%
Guayama, PR	68,089	$20,430	—	—	+42.2%	—	9.5%
Aguadilla-Isabela, PR	308,919	$20,800	—	—	+42.2%	—	7.3%

Demographic backbone

Who lives in San Germán

Median age: 43
Bachelor's+: 22.2%
Owner-occupancy: 65.9%
Vacancy rate: 37.3%
Rent burdened (30%+): 21.4%
Median household income: $15,584

This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.

Sources

Data sources

Metric	Source	Vintage
rent vs buy	HUD FMR + Census ACS + FRED MORTGAGE30US	current FY