Why homeownership matters?
Homeownership has become increasingly difficult to achieve in Puerto Rico, but when you build with us, we can build a Puerto Rico where everyone has a decent place to live.
The median household income in Puerto Rico is $19,115.00, with an hourly minimum wage of $8.50. Based on these figures, a family’s monthly mortgage payment should not be more than $377, which represents 30% of total monthly income. In contrast, the median price for a house in Puerto Rico ranges from $175,000.00 to $319,000.00, resulting in monthly house payments varying between $940.00 and $1,700.00: a high price low- or moderate-income families simply cannot afford, thus triggering the need to live in overcrowded conditions and make poor health and nutritional decisions.
Decent and affordable housing helps families and communities thrive in the long-term:
- Economy - The construction and selling of new affordable homes stimulate economic development in the community and create jobs.
- Community - New homeowners are more willing to take care of their homes, fostering community vitality.
- Children - A safe, stable home is essential for healthy child development.
- Health - the stability of owning a home improves health outcomes for families and individuals.