Puerto Rico renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Puerto Rico is about $584 per month. This puts it in the 1st percentile compared to the nation average cost of rent, which is $1,307. Households in Puerto Rico have a median income of $2,201 per month so the average renter in Puerto Rico is spending roughly 27% of their earnings on housing.
Nationally, and in Puerto Rico, home values are the data point most closely correlated with the cost of rent. The median price of a home in Puerto Rico is $121,319 right now, which is lower than nearby states, meaning that rents in Puerto Rico also tend to be lower versus these nearby states.
Higher rent prices are common in the northern parts of Puerto Rico while lower rent rates are often available in western areas.
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