Palmas del Mar, PR

Census Place

2024 Population

2,942

2024 Median Age

48.8

0.412% 1-year increase

2024 Poverty Rate

14.9%

11.3% 1-year increase

2024 Median Household Income

$98,269

0.632% 1-year growth

2024 Median Property Value

$463,000

3.63% 1-year growth

2024 Employed Population

1,296

10.2% 1-year growth

Economy

The economy of Palmas del Mar, PR employs 1.3k people. In 2024, the largest industries in Palmas del Mar, PR were Finance & Insurance (195 people), Health Care & Social Assistance (181 people), and Retail Trade (178 people), and the highest paying industries were Manufacturing ($111,089), Finance & Insurance ($71,977), and Finance & Insurance, & Real Estate & Rental & Leasing ($71,727).

Employment

Occupations

1.3k

2024 Value

± 339

10.2%

1 Year growth

± 33.4%

From 2023 to 2024, employment in Palmas del Mar, PR grew at a rate of 10.2%, from 1.18k employees to 1.3k employees.

The most common job groups, by number of people living in Palmas del Mar, PR, are Management Occupations (215 people), Business & Financial Operations Occupations (150 people), and Health Technologists & Technicians (117 people). This chart illustrates the share breakdown of the primary jobs held by residents of Palmas del Mar, PR.

Unemployment Insurance Claims

Data is only available at the state level. Showing data for Puerto Rico.

This chart shows weekly unemployment insurance claims in Puerto Rico (not-seasonally adjusted) compared with the four states with the most similar impact.

The most recent data point uses Advance State Claims data, which can be revised in subsequent weeks.

Industries

Employment by Industries

1.3k

2024 Value

± 339

10.2%

1 Year growth

± 33.4%

From 2023 to 2024, employment in Palmas del Mar, PR grew at a rate of 10.2%, from 1.18k employees to 1.3k employees.

The most common employment sectors for those who live in Palmas del Mar, PR, are Finance & Insurance (195 people), Health Care & Social Assistance (181 people), and Retail Trade (178 people). This chart shows the share breakdown of the primary industries for residents of Palmas del Mar, PR, though some of these residents may live in Palmas del Mar, PR and work somewhere else. Census data is tagged to a residential address, not a work address.

Median Earnings by Industry

$45,000

Median earning men ± $40,692

$42,083

Median earning women ± $18,151

The industries with the best median earnings for men in 2024 are Manufacturing ($159,583), Finance & Insurance, & Real Estate & Rental & Leasing ($72,250), and Educational Services, & Health Care & Social Assistance ($45,441).

The industries with the best median earnings for women in 2024 are Finance & Insurance, & Real Estate & Rental & Leasing ($65,903) and Educational Services, & Health Care & Social Assistance ($47,963).

Housing & Living

The median property value in Palmas del Mar, PR was $463,000 in 2024, which is 1.39 times larger than the national average of $332,700. Between 2023 and 2024 the median property value increased from $446,800 to $463,000, a 3.63% increase. The homeownership rate in Palmas del Mar, PR is 91.5%, which is higher than the national average of 65.2%.

People in Palmas del Mar, PR have an average commute time of 29.3 minutes, and they drove alone to work. Car ownership in Palmas del Mar, PR is approximately the same as the national average, with an average of 2 cars per household.

Housing

Property

$463,000

Median Property Value 2024

±$96,446

$930

Median Property Taxes

±$252

The following chart display owner-occupied housing units distributed between a series of property tax buckets compared to the national averages for each bucket. In Palmas del Mar, PR the largest share of households pay taxes in the None range.

The chart underneath the paragraph shows the property taxes in Palmas del Mar, PR compared to it's parent and neighbor geographies.

Rent vs Own

91.5%

Homeownership

2024

63.2%

Homeowners with Mortgage

2024

In 2024, 91.5% of the housing units in Palmas del Mar, PR were occupied by their owner. This percentage declined from the previous year's rate of 93.8%.

This chart shows the percentage of owner in Palmas del Mar, PR compared it's parent and neighboring geographies.

Equity

Household Income

Please note that the buckets used in this visualization were not evenly distributed by ACS when publishing the data.

$98,269

Median Household Income

± $29,821

1.02k

Number of Households

± 261

In 2024, the median household income of the 1.02k households in Palmas del Mar, PR grew to $98,269 from the previous year's value of $97,652.

The following chart displays the households in Palmas del Mar, PR distributed between a series of income buckets compared to the national averages for each bucket. The largest share of households have an income in the $200k+ range.

Wage Distribution

The closest comparable wage GINI for Palmas del Mar, PR is from Puerto Rico.

0.454

2024 Wage GINI in Puerto Rico

0.46

2023 Wage GINI in Puerto Rico

In 2024, the income inequality in Puerto Rico was 0.454 according to the GINI calculation of the wage distribution. Income inequality had a 1.22% decline from 2023 to 2024, which means that wage distribution grew somewhat more even. The GINI for Puerto Rico was lower than than the national average of 0.474. In other words, wages are distributed more evenly in Puerto Rico in comparison to the national average.

This chart shows the number of workers in Puerto Rico across various wage buckets compared to the national average.

Transportation

Commuter Transportation

Most Common Commute in 2024

Drove Alone (78.3%)
Worked At Home (10.2%)
Other (5.52%)

In 2024, 78.3% of workers in Palmas del Mar, PR drove alone to work, followed by those who worked at home (10.2%) and those who used some unspecified means to get work (5.52%).

The following chart shows the number of households using each mode of transportation over time, using a logarithmic scale on the y-axis to help better show variations in the smaller means of commuting.

Commute Time

29.3 minutes

Average Travel Time

Using averages, employees in Palmas del Mar, PR have a longer commute time (29.3 minutes) than the normal US worker (26.4 minutes). Additionally, 0% of the workforce in Palmas del Mar, PR have "super commutes" in excess of 90 minutes.

The chart below shows how the median household income in Palmas del Mar, PR compares to that of it's neighboring and parent geographies.

Car Ownership

2 cars

Average Number

The following chart displays the households in Palmas del Mar, PR distributed between a series of car ownership buckets compared to the national averages for each bucket. The largest share of households in Palmas del Mar, PR have 2 cars.

Poverty

Poverty & Diversity

14.9% of the population for whom poverty status is determined in Palmas del Mar, PR (436 out of 2.92k people) live below the poverty line, a number that is higher than the national average of 12.5%. The largest demographic living in poverty are Males 18 - 24, followed by Males 6 - 11 and then Females 25 - 34.

The most common racial or ethnic group living below the poverty line in Palmas del Mar, PR is Hispanic, followed by Other and White.

The Census Bureau uses a set of money income thresholds that vary by family size and composition to determine who classifies as impoverished. If a family's total income is less than the family's threshold than that family and every individual in it is considered to be living in poverty.

Social Needs

Data only available at the state level.

Most prevalent states

California
35,798 individuals
New York
5,087 individuals

In 2017, California had the highest estimated number of chronically homeless individuals in the nation, at 35,798, followed by New York (5,087).

The following map shows the estimated number of chronically homeless individuals by state over multiple years.

Palmas del Mar, PR

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Palmas del Mar, PR

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Population & Diversity

Diversity

Race and Ethnicity

Global Diversity

Military

Veterans

Health

Coverage

Health Care Diversity

Uninsured People

Economy

Employment

Occupations

Unemployment Insurance Claims

Industries

Employment by Industries

Median Earnings by Industry

Housing & Living

Housing

Property

Rent vs Own

Equity

Household Income

Wage Distribution

Transportation

Commuter Transportation

Commute Time

Car Ownership

Poverty

Poverty & Diversity

Social Needs

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