Puerto Rico is facing a growing affordability crisis as housing costs consume an increasingly large portion of family incomes, according to real estate professional Francisco Cabrera. Cabrera, a licensed agent with Keller Williams and YourmoveFL.com based in Miami, Florida, highlighted the strain on residents in a recent opinion piece published on March 12, 2026, by El Nuevo Día.
The escalating cost of housing – whether through rent or mortgage payments – is placing a significant financial burden on Puerto Rican families, Cabrera wrote. Even as the article does not specify precise figures, it underscores a widespread concern about the accessibility of adequate housing on the island.
Cabrera’s observations come as many Puerto Ricans grapple with economic challenges. The situation is further complicated by the possibility of utilizing rental income from properties with existing mortgages. According to Tu Hipoteca Fácil, a mortgage advisory service, property owners can rent out properties encumbered by a mortgage, provided they notify their lending institution. Fernando Soto-Hay, director general of Tu Hipoteca Fácil, emphasized that ownership of a property with a mortgage remains with the buyer, not the bank, and renting it is a permissible way to generate additional income.
The ability to rent a mortgaged property, but, requires transparency with the bank, particularly for leases exceeding one year. This notification process ensures the bank is aware of the recent income stream and any associated changes in property usage.
Francisco Cabrera maintains an active online presence showcasing available properties through NOCNOK, a real estate listing service. His listings currently include zero properties, but the platform facilitates connections between potential buyers and sellers, as well as offering resources for securing mortgage financing.
The issue of housing affordability is not unique to Puerto Rico. The article in El Nuevo Día does not detail specific policy responses or government initiatives aimed at addressing the crisis, and no immediate solutions are proposed.
