The typical owner-occupied home in Morovis Municipio is worth about $115,100, 12% below the Puerto Rico median of $131,500 and 65% below the national median of $332,700. Owners pay a median $487 a year in property taxes, about 0.42% of their home's value, lower than the Puerto Rico rate of 0.49%. The median household earns $25,003 a year, so the median home costs 4.6 times the median income (5.0 times for Puerto Rico). 74% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Morovis Municipio at a glance
| Morovis Municipio | Puerto Rico | U.S. | |
|---|---|---|---|
| Median home value | $115,100 | $131,500 | $332,700 |
| Median property tax paid per year | $487 | $646 | $3,119 |
| Property tax as a share of value | 0.42% | 0.49% | 0.94% |
| Median household income | $25,003 | $26,297 | $80,734 |
| Homes lived in by their owners | 74% | 68% | 65% |
| Owner homes with a mortgage | 35% | 37% | 61% |
| Median monthly costs, owners with a mortgage | $789 | $946 | $1,963 |
| Those costs as a share of the owners' income | 23.5% | 24.1% | 21.0% |
| Median rent | $618 | $578 | $1,413 |
| Rent as a share of renters' income | 29.2% | 30.4% | 30.6% |
| Median year homes were built | 1987 | 1979 | 1980 |
| Vacant homes | 14.2% | 21.0% | 10.1% |
| Population | 28,397 | 3,234,309 | 334,922,499 |
What a typical home costs per month in Morovis Municipio
At this week's average 30-year rate of 7.11%, buying the median Morovis Municipio home of $115,100 with 20% down costs about $708 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $899, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $30,329 for the 20%-down payment. That payment is 34% of the median Morovis Municipio household income of $25,003; at that income and 20% down, the 28% guideline points to a home of about $95,000.
The median rent here is $618 a month, so owning the median home costs about $90 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $23,020 |
|---|---|
| Loan amount | $92,080 |
| Principal and interest | $619 |
| Property taxes (0.42% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| PMI | $0 |
| Total per month | $708 |
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| Down payment | $4,028 |
|---|---|
| Loan amount | $113,015 |
| Principal and interest | $760 |
| Property taxes (0.42% a year) | $40 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| FHA mortgage insurance | $51 |
| Total per month | $899 |
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Questions about home buying in Morovis Municipio
What is the median home value in Morovis Municipio?
About $115,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Morovis Municipio?
Homeowners pay a median $487 a year, which is about 0.42% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Morovis Municipio?
For the median home with 20% down at 7.11%, the payment is about $708 a month. Keeping that under 28% of gross income takes about $30,329 a year.
More about Morovis Municipio
- Mortgage Refinance in Morovis Municipio
- Debt Relief in Morovis Municipio
- Home Equity Loans in Morovis Municipio
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data