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House prices in San Pedro Sula are unlikely to go down in the near future, with continued upward pressure from population growth and urban development. Based on current market conditions and expert forecasts, property values are expected to rise 4-6% annually through 2027, driven by industrial expansion, infrastructure improvements, and steady migration to the city.
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San Pedro Sula's residential property market shows strong fundamentals with median house prices ranging from L3,190,000 to L3,650,000 ($130,000-$150,000 USD) as of September 2025.
The combination of tight inventory, quick sales, and continued urban development suggests prices will continue rising rather than falling in the coming years.
| Market Factor | Current Status | Price Impact |
|---|---|---|
| Average House Price | L3,190,000-L3,650,000 ($130K-$150K) | Upward pressure |
| Annual Price Growth | 3-7% recent years | Continued increases |
| Inventory Level | 28-30 properties available | Supports higher prices |
| Sales Speed | 29 days average | Strong demand signal |
| Population Growth | 2.58% annually (1,034,000 residents) | Increases demand |
| Mortgage Rates | 11.24% average (7.5-12.5% range) | Some affordability pressure |
| Expert Forecast | 4-6% annual growth through 2027 | Sustained appreciation |
What's the current average house price in San Pedro Sula?
As of September 2025, the median sales price for residential properties in San Pedro Sula ranges from L3,190,000 to L3,650,000, which translates to approximately $130,000 to $150,000 USD.
Houses in San Pedro Sula are generally priced around $1,480 per square meter, while apartments command higher rates at about $2,400 per square meter. For buyers looking at family homes, 3-bedroom houses average L4,480,000, or roughly $183,000 USD.
These prices reflect the city's position as Honduras' industrial capital, where steady job growth and urban development continue to drive demand. The pricing varies significantly by neighborhood, with properties near new infrastructure projects and central districts commanding premium rates.
It's something we develop in our Honduras property pack.
How have house prices changed over the last 5 to 10 years?
Property prices in San Pedro Sula have shown consistent upward momentum, with annual growth rates of 3-7% in recent years due to industrial expansion and urban development.
Over the past decade, this steady appreciation has resulted in significant value increases, though growth rates vary considerably by neighborhood and development type. Districts experiencing the largest investments—such as the central district and western outskirts—have seen the strongest gains.
The price increases are particularly notable in areas benefiting from public infrastructure improvements and mixed-use developments. Properties near major urban renewal projects have outperformed the overall market, with some neighborhoods seeing double-digit appreciation in certain years.
This upward trend reflects San Pedro Sula's economic transformation, with the city attracting both domestic and international investment in manufacturing, technology, and logistics sectors.
What is the current supply of houses on the market compared to recent years?
The housing inventory in San Pedro Sula is exceptionally tight, with only 28-30 properties typically available for sale at any given time throughout the city.
This limited supply represents a significant constraint compared to previous years and indicates a highly competitive market environment. The shortage is particularly acute in desirable neighborhoods and for move-in ready properties.
New construction is attempting to address this shortage, with a focus on mixed-use developments that combine residential and commercial spaces. However, the pace of new supply has not kept up with growing demand from both local buyers and migrants moving to the city for employment opportunities.
The tight inventory levels are a key factor supporting continued price appreciation, as buyers compete for limited available properties.
How quickly are homes selling right now compared to past years?
Homes in San Pedro Sula are selling significantly faster than in previous years, with the average sales period now around 29 days as of 2025.
This represents a substantial improvement from past years when properties could remain on the market for much longer periods. The quick sales pace reflects strong buyer demand and the limited inventory available.
Properties in prime locations or newly developed areas often sell even faster, sometimes within weeks of listing. Well-priced homes in good condition are attracting multiple offers, creating competitive bidding situations.
The rapid sales environment indicates a seller's market, where property owners have significant pricing power and buyers must act quickly to secure desired properties.
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What's the current demand for housing—are more people buying or renting?
Both home-buying and rental demand remain strong in San Pedro Sula, driven by steady population growth of 2.58% annually, bringing the city to approximately 1,034,000 residents.
The demand is fueled by multiple factors including industrial expansion, a growing tech sector, and rural-to-urban migration as people seek employment opportunities. However, the rental market is experiencing some oversupply due to a surge in new rental units.
This rental oversupply has created challenges for investors, with vacancy rates reaching about 5% and rental yields declining in some areas. Despite this, rental demand in city centers and near employment hubs remains robust.
The buying market continues to show strength, particularly among middle and upper-income professionals who view homeownership as a hedge against inflation and a way to build wealth in the growing economy.
How are interest rates and mortgage availability affecting affordability?
Mortgage interest rates in San Pedro Sula averaged 11.24% in early 2025, with rates typically ranging from 7.5% to 12.5% depending on the lender and borrower qualifications.
These relatively high interest rates, combined with rising property prices, are creating affordability challenges for many potential buyers. The price-to-income ratio is estimated at 5.3, indicating that housing costs are stretching household budgets.
For middle-income buyers, the combination of high rates and appreciating prices means that homeownership is becoming increasingly difficult to achieve. Many buyers are having to consider smaller properties or locations further from city centers.
Despite these challenges, demand remains strong because buyers anticipate continued price appreciation and view real estate as a valuable long-term investment in the growing economy.
What's the unemployment rate and overall job growth in San Pedro Sula?
The unemployment rate in Honduras is approximately 5.0-8.0% as of 2025, with San Pedro Sula typically performing better than the national average due to its strong industrial base.
Job growth in San Pedro Sula is being driven by expansion in manufacturing, technology, and logistics sectors. Major investments in infrastructure are creating additional employment opportunities and improving the overall economic outlook.
The city's position as Honduras' industrial capital continues to attract new businesses and investment, particularly in sectors that benefit from the city's strategic location and transportation infrastructure.
However, average net salaries in San Pedro Sula are approximately L14,575 ($590 USD) per month, which creates affordability challenges when compared to rising property prices.
Are wages and household incomes rising or falling compared to housing costs?
Wages in San Pedro Sula are growing, but they are being outpaced by rising property prices, creating a widening affordability gap for many households.
| Income Category | Monthly Income (USD) | Housing Affordability Impact |
|---|---|---|
| Average Net Salary | $590 | Challenging for homeownership |
| Professional/Tech Workers | $800-$1,200 | Moderate affordability |
| Industrial Management | $1,000-$1,500 | Good buying power |
| Entry-level Workers | $400-$500 | Rental market only |
| Senior Executives | $2,000+ | Strong purchasing ability |
The price-to-income ratio of 5.3 indicates that housing costs consume a significant portion of household income, making homeownership challenging for many residents. This trend is creating increased demand for rental properties among lower and middle-income groups.
While the growing economy is creating higher-paying jobs in certain sectors, the benefits are not evenly distributed, leading to increased inequality in housing access.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Honduras versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What new housing developments or construction projects are in the pipeline?
San Pedro Sula is experiencing a construction boom, with mixed-use developments representing at least 15% of new housing projects currently under development.
Major initiatives include the Siglo XXI Project and several high-rise complexes such as the Habitat Condominiums of Cordillera, which are reshaping the city's skyline and adding significant housing inventory.
New developments are particularly focused on combining residential and commercial spaces, reflecting changing lifestyle preferences and the city's evolution into a more modern urban center.
These projects are concentrated in areas with good infrastructure access and are typically targeting middle to upper-income buyers, which may help address some of the supply shortage in the premium market segment.
It's something we develop in our Honduras property pack.
How are crime rates and safety trends affecting neighborhood desirability?
San Pedro Sula's crime situation is improving but remains a significant factor in neighborhood desirability and property values.
The city's crime index score has decreased to 79.7 in 2025, down from a peak of 82.5 in 2019, showing measurable improvement due to government crackdowns and urban renewal efforts. The homicide rate has also declined to about 26 per 100,000 residents.
Areas near new developments and urban renewal projects tend to be more desirable and secure, commanding premium prices. Neighborhoods with improved lighting, security systems, and community policing see stronger property appreciation.
While crime remains a concern for both local and international buyers, the improving trend is contributing to increased confidence in certain areas of the city, particularly those benefiting from recent infrastructure investments.
What government policies, taxes, or incentives might impact real estate prices?
The city and national government are actively investing in infrastructure development and offering tax advantages to promote public-private partnerships for urban renewal.
Current initiatives include partnerships with organizations like Coalianza and Consorcio SPS Siglo XXI to drive urban renewal and modernization projects. These investments are improving the overall attractiveness of the city for both residents and businesses.
While incentives exist for certain developments, they are primarily aimed at spurring industrial and technology growth rather than providing direct real estate subsidies. However, these economic development policies benefit property markets through broader economic improvement.
The government's focus on improving infrastructure, safety, and economic opportunities is creating a positive environment for property value appreciation.
What do local real estate experts and forecasts predict for the next 1–3 years?
Local real estate experts forecast continued steady price growth of 4-6% annually through 2027, with particularly strong appreciation expected in centrally located and newly developed districts.
Properties near major urban renewal projects, new infrastructure, or technology clusters like Altia Smart City are expected to see the fastest value increases. Experts identify these areas as having the strongest potential for above-average returns.
The rental market may see slightly declining yields due to ongoing oversupply, but demand remains robust in city centers and near employment hubs. Investors are advised to focus on well-located properties with strong rental fundamentals.
The consensus among local experts is that San Pedro Sula will remain a promising real estate market for at least the next several years, supported by continued infrastructure improvements, governance enhancements, and sustained migration to the city.
It's something we develop in our Honduras property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
House prices in San Pedro Sula are unlikely to decline in the foreseeable future, with multiple factors supporting continued appreciation.
The combination of tight inventory, strong demand, ongoing urban development, and improving economic conditions suggests property values will continue rising at 4-6% annually through 2027.
Sources
- San Pedro Sula Real Estate Trends
- Fazwaz Honduras Property Listings
- San Pedro Sula Price Forecasts
- Honduras Real Estate Forecasts
- San Pedro Sula Real Estate Forecasts
- Honduras Buy Property Guide
- Numbeo Property Investment Data
- Trading Economics Honduras Unemployment
- World Atlas Dangerous Cities
- Compare the Market Dangerous Cities Index