What is the average salary in Puerto Rico?

2 mins readLast updated March 6, 2024by Kate Morgan

This article will take you through what you need to know about the average salaries and highest-paying regions in Puerto Rico.

Want to make your salary go further?

A financial advisor can help you develop a financial plan to meet your goals.

Summary

  • The San Juan metro area tends to have higher salaries compared to rural areas.

  • The median household income for Puerto Rico is $21,543.

  • Puerto Rico ranks as the 5th lowest for the cost of living among US states and territories.

  • Under 25s in Puerto Rico have a median household income of $18,124, while those 65 and older have a median income of $21,634. 

  • The average hourly salary in Puerto Rico is $12.58.

What is the average salary in Puerto Rico by region?

The earning potential in Puerto Rico varies by region and industry. The San Juan metro area, which includes the capital and largest city of the island, tends to have higher salaries compared to rural areas. The highest paying industries in Puerto Rico are finance, insurance, and real estate, followed by professional and technical services. 

According to the US Census Bureau’s American Community Survey, the median household income for Puerto Rico is $21,543. However, this data is not broken down by county as Puerto Rico does not have counties like other states in the United States. 

Average earnings by region or any other geographical metric is just one way of calculating wealth and should not be the only factor to consider when evaluating earning potential in a given place. It is also important to take into account the cost of living, the type of job, and other personal factors when making financial decisions 

What is the median salary in Puerto Rico?

The median income in Puerto Rico is $21,543. This is considerably lower than the median income in other parts of the US. However, numerous sources rank it as one of the more affordable places to live in the US due to the low cost of living in Puerto Rico.

According to the Missouri Economic Research and Information Center, it ranks as the 5th lowest for the cost of living among US states and territories. Accordingly, the average salaries in Puerto Rico tend to be lower than in the mainland.

What are the highest paying jobs in Puerto Rico?

There’s another weighty factor that will influence how much you earn if you live in Puerto Rico: your job type. Average salaries for various sectors and job roles can vary massively across the state, so it’s absolutely something to consider when looking at salaries by location.  

USA Wage has calculated a comprehensive list of annual salaries by job title. You can also find the top 10 highest-paying titles in Puerto Rico below.  

Occupation Average salary
All Other Physicians $135,810
Judges, Magistrate Judges, and Magistrates $104,310
Pharmacists $100,730
General Pediatricians $99,570
Industrial Production Managers $98,630
Architectural and Engineering Managers $98,480
Family Medicine Physicians $95,940
Natural Sciences Managers $95,200
Other Education Administrators $90,330
Detectives and Criminal Investigators $88,880

What is the average wage in Puerto Rico by age? 

Alongside location and occupation, salaries in Puerto Rico are also dependent on age, since more senior workers will be paid more. Then, when they retire, their income will dip again as they will rely on pensions and other forms of set income. Check out the complete guide to retiring in Puerto Rico here.

The Census Bureau data finds that householders under 25 have a median household income of $18,124; householders aged 24 to 44 years old have a median income of $28,509; those aged 45 to 64 years old have a median income of $31,860; and those 65 and older have a median income of $21,634.  

For comparison, you can also check out the average salary in the US by age.

What is the average pay in Puerto Rico by hour? 

If Americans work an average of 1,801 hours per year — at 37.5 hours a week — then the average hourly salary in Puerto Rico is $12.58.  

What is a ‘good’ salary in Puerto Rico? 

Defining what constitutes a 'good' salary in Puerto Rico depends on several factors, such as cost of living, job market, and individual needs.

The island is known for its relatively low cost of living compared to mainland US, yet earnings can still vary depending on the location and type of job. Whether you already live in Puerto Rico or are considering a move, it can be helpful to understand the financial landscape of the island.

Speak to a financial advisor

If you want financial guidance or want to get a better handle on your money, speaking to the best financial advisor is one of the most effective steps you can take. A financial advisor can answer all of your money-related questions and help you develop a financial plan to meet your goals.

At Unbiased, we connect you to an SEC-regulated financial advisor perfectly suited to your wants and needs.

Fill out our brief questionnaire, and your advisor will be in touch within 48 hours. Your first consultation will also be completely free. Get started here.

Content writer

Kate Morgan

Kate has written for leading publications and blue chip companies over the last 20 years.

Want to make your salary go further?

A financial advisor can help you develop a financial plan to meet your goals.