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Municipio in Puerto Rico

Lares Municipio, Puerto Rico

Lares Municipio, in Puerto Rico, has 27,855 residents: No. 44 of 78 by population. Lares Municipio has an FHA limit of $541,287 for one-unit homes. The typical home value here is $105,100. HUD's Fair Market Rent for a 2-bedroom apartment is $517 a month; to pay it without spending more than 30% of your income, you need to earn about $9.94 an hour.

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  • Typical home price

    $105,100

    −20% vs. Puerto Rico −68% vs. U.S.

    Half of owner-occupied homes are worth more and half are worth less.

    • Lares
    • Puerto Rico
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

  • Fair market rent, 2 bedrooms

    $517 a month

    −19% vs. Puerto Rico −70% vs. U.S.

    HUD's reference rent for a two-bedroom apartment, with basic utilities.

    • Lares
    • Puerto Rico
    • United States

    Source: HUD, Fiscal year 2027

  • FHA limit 2026, 1 unit

    $541,287

    FHA national floor limit

    The most you can borrow with an FHA loan for a one-unit home here.

    • Lares
    • Floor
    • Ceiling

    Source: HUD, 2026 data

  • Property tax

    0.19% of value per year

    −61% vs. Puerto Rico −80% vs. U.S.

    $199 a year for the typical owner

    • Lares
    • Puerto Rico
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

Data from October 2026

In short

What is housing like in Lares Municipio today?

The monthly payment on a typical home with FHA would be about $806, that is, 51% of the typical household income in Lares Municipio. For that payment to be 28% of income, a household would need to earn about $34,543 a year; the typical income here is $18,917. Homes here are worth 20% less than the average across Puerto Rico. The typical property tax is $199 a year (about 0.19% of home value), lower than in Puerto Rico.

Renting is a stretch: 51% of renters put 30% or more of their income toward housing. 97% of people here speak Spanish at home, and 83% of the nearby housing counseling agencies serve in Spanish.

Sources: U.S. Census Bureau (Average 2020–2024).

Only here

What sets Lares Municipio apart

  1. Nearby, in Las Marías Municipio, the typical rent is $412: 18% less than in Lares Municipio ($505).

  2. Among the neighboring municipios, Las Marías Municipio has the lowest typical home value ($86,500), 18% below the $105,100 in Lares Municipio.

  3. At 63%, Lares Municipio ranks 7th among the 78 municipios in Puerto Rico for the lowest homeownership rate.

  4. At $18,917, Lares Municipio ranks 7th among the 78 municipios in Puerto Rico for the lowest typical household income.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Lares Municipio

What homes there are in Lares Municipio, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house rules in Lares Municipio: 79% of homes, more than in Puerto Rico (68%).

Year built

Homes in Lares Municipio are newer: the typical year built is 1984; in Puerto Rico, 1979.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for this municipio is $517: about 50% of rents in Lares Municipio are below it.

With a mortgage

$705 a month

Puerto Rico: $946 a month

Without a mortgage

$136 a month

Puerto Rico: $180 a month

Owners with a mortgage

23%

Puerto Rico: 37%

Owning costs less in Lares Municipio: with a mortgage, the typical cost is $705 a month; in Puerto Rico, $946. Without one, $136.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Lares Municipio rose 22% since 2015–2019, more than in Puerto Rico (18%).

The typical rent in Lares Municipio rose 20% since 2015–2019, about the same as in Puerto Rico (21%).

The typical household income in Lares Municipio rose 14%: less than home values (+22%) and rent (+20%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureLares MunicipioPuerto RicoUnited States
Rental vacancy Unreliable estimate5.1%5.5%
Homeowner vacancy Unreliable estimate1.3%0.9%
More than one person per room Unreliable estimate2.3%3.4%
People per household 2.552.482.53
Drive alone 83%83%69%
Carpool 12%6%9%
Public transit Unreliable estimate1%3%
Walk or bike Unreliable estimate3%3%
Work from home Unreliable estimate6%15%
Other means Unreliable estimate2%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes

By size, households in Lares Municipio look like those in Puerto Rico: 2.55 people on average.

In Lares Municipio, 12% of workers share a car to get to work; in Puerto Rico, 6%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month in Lares Municipio?

A typical home costs more than the typical income allows

We start with a typical home of $105,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 51% of the typical household income here, which is $18,917 a year. For that payment to be 28% of income, a household would need to earn about $34,543 a year.

Your numbers

Local data
$

Starts at the typical home value in Lares Municipio. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $3,679 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$806

at 7.18% · 30 years

Loan amount
$103,196
Total interest
$148,475
Paid off in
November 2056

Includes $1,775 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $441 a month

  • Tight

    $441 to $568 a month

  • Hard

    more than $568 a month

    Your payment · 51%

Compared with the typical household income in Lares Municipio ($18,917 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$806
Principal & interest$699
Property tax$17
Home insurance$44
FHA mortgage insurance (MIP)$46

You need at least $3,679 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

Buying a home

Buying a home in Lares Municipio

Here you'll see how prices have changed, how Lares Municipio compares with Puerto Rico and the country, and what you'd pay each month with four kinds of loans.

How have home prices changed?

FHFA does not publish an annual price index in Lares Municipio. This usually happens when there are too few sales to measure.

Lares Municipio compared with Puerto Rico and the United States

Home value, rent and household income, side by side. "Typical" is the median: half are above it and half below.

Typical home value
  • Lares $105,100
  • Puerto Rico $131,500
  • United States $332,700
Typical rent a month
  • Lares $505
  • Puerto Rico $578
  • United States $1,413
Typical household income a year
  • Lares $18,917
  • Puerto Rico $26,297
  • United States $80,734
See the full table
Lares compared with Puerto Rico and the United States
MeasureHerePuerto RicoU.S.
Residents27,8553,234,309334,922,499
Typical home value$105,100$131,500$332,700
Typical household income$18,917$26,297$80,734
Typical rent$505$578$1,413
Fair Market Rent (2 bedrooms)$517$641$1,750
Hourly wage to rent a 2-bedroom$9.94$12.33$33.65
Typical property tax$199$646$3,119
Effective tax rate0.19%0.49%0.94%
Households that own their home63%68%65%
Renters spending 30% or more on rent51%51%51%
FHA limit (1 unit)*$541,287$690,000$541,287

FHA limit: Puerto Rico shows the median of its counties; the United States, the national floor. Download CSV

Four ways to pay for a typical home in Lares Municipio

For a typical $105,100 home at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, the county's property tax, an example homeowners insurance and mortgage insurance when it applies.

Loan Monthly payment Down payment Loan amount Rate Mortgage insurance Cash to close Minimum score
FHA, 3.5% down $806 $3,679 $103,196 7.18% FHA MIP · $46 $6,832 580
Conventional, 5% down $787 $5,255 $99,845 7.18% PMI · $50 $8,408 620*
Conventional, 20% down, no PMI $630 $21,020 $84,080 7.18% None $24,173 620*
ITIN, 15% down (example) $727 $15,765 $89,335 8.18% None $18,918 Set by the lender
  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Closing costs

Loan limits

FHA loans in Lares Municipio use the national floor limit: it isn't a high-cost area. If the loan you need is above these amounts, it doesn't fit FHA or it becomes a "jumbo" loan.

VA loans. If you have full VA entitlement, VA doesn't cap the loan amount. If you've used part of your entitlement, the calculation uses the county limit ($832,750 for one unit). VA loan limits (va.gov)

USDA loans. They're for homes in eligible rural areas and households with incomes within USDA's limit. Check whether the address and your income qualify on the official site. USDA eligibility (usda.gov)

Home type FHA limit Conforming limit
1 unit $541,287 $832,750
2 units $693,050 $1,066,250
3 units $837,700 $1,288,800
4 units $1,041,125 $1,601,750

Source: HUD, 2026 data · Source: FHFA, 2026 data

Taxes and risks

Property tax and flooding in Lares Municipio

Two costs that change a lot from place to place and that a house payment does include: property tax and, in risk zones, flood insurance.

Property tax

In Lares Municipio, the typical owner pays $199 a year: about 0.19% of the home's value. That is less than the rest of Puerto Rico and less than the national average.

  • Lares 0.19%
  • Puerto Rico 0.49%
  • United States 0.94%

What Puerto Rico publishes Residential exemption (Puerto Rico Municipal Code (Act 107-2020), OGP Virtual Library)

Exemptions and deadlines in Puerto Rico

Is there a flood risk?

FEMA does not publish this flood insurance data in Lares Municipio. Check your address on FEMA’s map.

  • A high-risk zone (Special Flood Hazard Area) has a 1% or greater chance of flooding each year. (44 CFR 59.1)
  • If the home is in that zone and the loan comes from a regulated lender, federal law requires flood insurance for the life of the loan, in communities that take part in the NFIP. (42 U.S.C. 4012a)
  • Most homeowners insurance does not cover flood damage. (FEMA, FloodSmart)
Look up your address on FEMA’s map

Owning a home here

Owning a home in Lares Municipio

The natural hazards FEMA measures in Lares Municipio, a maintenance plan for your climate and what the trades earn in your area.

Risks to your home

FEMA, National Risk Index 1.20.0 (December 2025)

FEMA has no overall risk rating in Lares Municipio (insufficient data); it does estimate the expected loss from each hazard.

In all, FEMA estimates natural hazards cause about $26.5 million in losses a year in Lares Municipio, across buildings, people and crops.

Of all the hazards, FEMA expects hurricane to do the most damage to buildings: about $8.2 million a year.

Loss FEMA expects each year to homes and buildings, by hazard
  1. HurricaneInsufficient data $8.2 million a year
  2. EarthquakeInsufficient data $2.5 million a year
  3. Inland floodingInsufficient data $1.8 million a year
  4. TornadoInsufficient data $6,588 a year

What it means for your home

The ratings are FEMA's own. FEMA says its data is meant for planning and does not replace a local study. Drought is not shown: FEMA counts its loss in crops only.

National Risk Index, version 1.20.0 (December 2025), retrieved November 6, 2026

FEMA notice: This product uses the Federal Emergency Management Agency's National Risk Index dataset API or downloadable datasets but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s).

Climate and upkeep

Department of Energy (PNNL), 2021 IECC zones

For Lares Municipio the Department of Energy gives no climate zone; that is why only the all-year tasks are listed.

All year

  • Check the air filter every month, especially in heavy-use months. If it looks dirty, change it; change it at least every 3 months. ENERGY STAR (EPA)
  • Test the smoke alarms every month and replace their batteries at least once a year. USFA (FEMA)

What the trades charge here

BLS, wages for May 2025

TradeTypical hourly wage8 in 10 earn between
Electricians$27.80$12.82 and $34.50
Carpenters$14.29$10.50 and $16.58
Maintenance and repair workers, general$10.50$10.50 and $15.34

According to BLS, an electrician earns about $27.80 an hour in the Puerto Rico nonmetropolitan area.

These are workers' hourly wages, not the price of a job.

BLS publishes no wages for plumbers, HVAC technicians, roofers, and painters in this area.

Need help paying for a repair?

Renting

Renting in Lares Municipio

The typical rent in Lares Municipio is $505 a month. HUD also publishes a “fair market rent” by unit size: it's the one programs like Section 8 use.

51% of renter households in Lares Municipio spend 30% or more of their income on housing. 27% spend half or more.

Fair market rent by size

To pay the fair market rent without spending more than 30% of income, working full time (40 hours a week).

Size Fair rent a month Hourly wage Income needed per year
Studio $456 $8.77 $18,240
1 bedroom $475 $9.13 $19,000
2 bedrooms $517 $9.94 $20,680
3 bedrooms $697 $13.40 $27,880
4 bedrooms $743 $14.29 $29,720

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Free help in Lares Municipio

Programs and counseling in Lares Municipio

We didn't find HUD-approved agencies with an office in this municipio. These are the 6 nearest; many serve by phone or online.

Official programs for the down payment and loans for buyers. Check which ones you might qualify for with your income and your county.

Colorful historic houses line a cobblestone street in Puerto Rico.

HUD counseling is free or low-cost

Puerto Rico down payment programs

  1. Pronto pa' tu Casa

    Puerto Rico Housing Finance Authority help of up to $45,000 per eligible household (plus $5,000 if you buy in a designated urban center) to buy an existing home; with a mortgage from a participating financial institution

    The source does not say whether you must be a first-time buyer. Run by Autoridad para el Financiamiento de la Vivienda de Puerto Rico (AFV).

    Type not stated Verified November 5, 2026

  2. Programa HOME: Asistencia directa al comprador

    Puerto Rico Housing Finance Authority help, with federal HOME funds, for the down payment (pronto pago) of low- and moderate-income families who buy their primary residence with a mortgage; not repaid if you meet the program's conditions

    First-time buyers only. Run by Autoridad para el Financiamiento de la Vivienda de Puerto Rico (AFV).

    Type not stated Verified November 5, 2026

Which programs do I qualify for? See all Puerto Rico programs

Help in Spanish in Lares Municipio

5 of the 6 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Public housing agencies

They run public housing and Section 8 vouchers (Housing Choice Vouchers) in this municipio.

Free legal help

If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.

Find legal aid (lsc.gov)

Housing counseling nearby

These are the nearest agencies, with the distance in miles. Many help by phone or online. Official HUD list. Confirm hours and fees with the agency before you go.

  • Corporacion Desarrollo Economico,vivienda y Salud

    68 Calle Puro Girau, Arecibo · 17 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (787) 879-3300

  • Centro de Apoyo Familiar (CAF) PR

    92 Calle La Paz, Aguada · 22 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 10 more
    (301) 328-3292

  • Ponce Neighborhood Housing Services, Inc.

    57 Calle Mendez Vigo, Ponce · 25 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (787) 841-5055
See every agency in Puerto Rico

Places

Cities in Lares Municipio

This site has no city pages of Lares Municipio. The neighboring counties are below.

See all 1 cities of Lares Municipio

Nearby municipios

Each row compares its typical value, typical rent and FHA limit with Lares Municipio.

Read next

Guides that help here

We picked them by this county's numbers: what weighs most here is what's worth understanding first.

Frequently asked questions

What is the FHA loan limit in Lares Municipio in 2026?

Lares Municipio has an FHA limit of $541,287 for a one-unit home. For 2 units it's $693,050, for 3 it's $837,700 and for 4 it's $1,041,125. It's the national floor limit.

What is the conforming loan limit in Lares Municipio?

Lares Municipio has a conforming limit of $832,750 for one-unit conventional loans in 2026. A bigger loan is a “jumbo” loan.

How much does a typical home cost in Lares Municipio?

The typical home value in Lares Municipio is $105,100 (Average 2020–2024, U.S. Census). Across Puerto Rico it's $131,500.

How much does it cost to rent in Lares Municipio?

Lares Municipio has a typical rent of $505 a month (Average 2020–2024, U.S. Census). HUD's fair market rent for a 2-bedroom apartment is $517 (Fiscal year 2027).

How much do you need to earn to rent a 2-bedroom apartment in Lares Municipio?

About $9.94 an hour working full time (2,080 hours a year), or $20,680 a year, so the fair market rent of $517 stays under 30% of income.

Sources: American Community Survey (Average 2020–2024); FHA mortgage limits (2026 data); Conforming loan limits (2026 data); Fair Market Rents (Fiscal year 2027); Income Limits (Fiscal year 2026); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (As of November 5, 2026); National Risk Index (2025 data); IECC climate zones by county (2021 data); Occupational Employment and Wage Statistics (2025 data); Census Bureau cartographic boundary files (2024 data).