Mexico City: apartment rent by location 2023 | Statista (2024)

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Mexico City: apartment rent by location 2023 | Statista? ›

Monthly rent for an apartment in Mexico City 2023, by location. In December 2023, the monthly rent for a one-bedroom apartment in the city center of Mexico City amounted to 913.96 U.S. dollars, whereas a three-bedroom apartment averaged 1803.96 U.S. dollars.

The median rent in Mexico is ~$2,000MXN, or roughly $100USD monthly. The average rent in Mexico is ~$3,000MXN a month, or $150USD. Mexico has a home ownership rate of 80%, the highest in Latin America and one of the highest in the world. In comparison, the US has a home ownership rate of 65%.

The cost to rent homes and apartments in Mexico has soared by more than 28% since early 2020, driven by the COVID-19 pandemic's surge in remote working demand. Mexico City is now the most expensive rental location in the country, followed by the State of Mexico and Nuevo León.

Renting in Mexico as a Foreigner

While some landlords or agencies only ask for a deposit, others require a credit check or some referencing. In Mexico, it is also common if they ask for someone to co-sign your lease, known as a fiador. This can be a bit tricky since that person needs to live and own property in Mexico.

Summary of cost of living in Mexico City, Mexico: A family of four estimated monthly costs are 2,858.9$ (47,743.6MXN) without rent. A single person estimated monthly costs are 775.5$ (12,951.5MXN) without rent.

The city in Mexico considered the safest with the lowest crime rate is Merida, located in Yucatan. This is also one of the most affordable cities in Mexico, making it a popular destination for retirees and expats. Merida's low crime rate makes it an excellent choice for visiting and living in.

Living in Mexico for $1000 a month is feasible, especially if you adapt to the local lifestyle. Renting a modest apartment, eating local food, using public transportation, and taking advantage of the national healthcare system can help you live comfortably within this budget.

Living in Mexico on $500 a month – is it possible? Believe it or not, it is possible to live on $500 a month in Mexico. But the real question is, “Do you really want to do that?” The lifestyle with that budget won't suit most people, and you might not survive long if you're living that frugally.

Is it worth living in Mexico City? ›

The cost of living in Mexico City can be considerably lower than in other North American cities, allowing expats to enjoy a high standard of living on a modest budget. It also boasts a robust job market with opportunities in various industries, including finance, tech, and creative sectors.

Generally, the cost of living in Mexico is considerably cheaper than in the U.S. in terms of rent, groceries, utilities, transportation, and more. For example, rent can be as much as 71.2% cheaper in Mexico, while overall prices are 50% to 100% less.

Polanco is often called the "Beverly Hills of Mexico", having one of the country's densest concentrations of luxury shopping, with the most upscale restaurants, high-net-worth individuals, upscale hotels, and diplomatic missions and embassies.

Monthly rent for an apartment in Mexico City 2023, by location. In December 2023, the monthly rent for a one-bedroom apartment in the city center of Mexico City amounted to 913.96 U.S. dollars, whereas a three-bedroom apartment averaged 1803.96 U.S. dollars.

First of all, get your research going by looking through housing platforms. Airbnb or Booking.com are great for short-term stay options. For longer rentals, check out websites like Vivanuncios, InMuebles24, Homie, and MetrosCubicos, which can give you a better idea about prices and neighborhoods.

The exact terms on which you take a rental property will be agreed in conversation with the landlord or agent - so it's okay to negotiate on the rental cost. It's not seen as rude in the slightest. It's well worth, however, trying to make a good first impression on the landlord.

Generally, the cost of living in Mexico is considerably cheaper than in the U.S. in terms of rent, groceries, utilities, transportation, and more. For example, rent can be as much as 71.2% cheaper in Mexico, while overall prices are 50% to 100% less.

San Francisco, CA

San Francisco still holds the crown as the most expensive rental market in the country. On average, renters pay around $4 per square foot, which is more than double the national average of $1.86.

Polanco is often called the "Beverly Hills of Mexico", having one of the country's densest concentrations of luxury shopping, with the most upscale restaurants, high-net-worth individuals, upscale hotels, and diplomatic missions and embassies. It is one of the most expensive real estate markets in Latin America.