Cost of Living in Mexico 2024

Mexico has something for everyone: rustic towns and elegant resorts, sprawling beaches, world-class diving and snorkeling, lush jungles, high-altitude deserts, snow-capped mountains, and beautiful, Spanish colonial cities. Whether you like a warm climate with a constant sea breeze, a hot and dry semi-arid or desert climate, or you want to be somewhere cool enough that you’ll need to wear a jacket in the evenings year-round, Mexico offers unlimited choices.

It’s an excellent retirement destination for any budget, too—a place where you can live like a millionaire for the cost of a middle-class lifestyle at home. The quality of your life improves in Mexico. Things take longer, so you’ll learn to slow down. Goods and services cost less, so you can afford the kinds of luxuries only the very wealthy enjoy up north—like a maid, a cook, and a gardener.

And in Mexico, you have the good fortune of giving up very little when you make your move. You’re heading to a near neighbor where you can get internet, cable TV, and all the comforts you’re used to having—without needing to count your pennies.

As is the case anywhere in the world, your biggest expense in Mexico will likely be housing. Though housing prices everywhere have increased in recent years, Mexico still has plenty of bargains compared to the U.S. and Canada. When it costs $200,000 for a house that you’d pay at least twice the price for back home, you’re left with savings you can spend on living well.

The cost of housing, whether you’re renting or buying, will vary greatly depending on where you want to live. Unsurprisingly, homes near the beach and in resort areas will be more expensive than those in the central highlands or localities with fewer tourists or expats, though you should be able to buy a nice house in a good neighborhood for $150,000 or less nearly anywhere in the country. Of course, you could easily spend much more—it all depends upon your lifestyle.

Modern condos with ocean views in expat-favorite Puerto Vallarta, for example, start at around $120,000, while houses a block from the beach with pools and other amenities can be found in the low $200,000s. Rentals can be surprisingly affordable; furnished, one-bedroom condos near the beach start at less than $600 per month.

You might find the colonial central highlands town of San Miguel de Allende to your liking—it’s one of the most popular expat havens in all of Mexico. Modern houses here start at around $235,000, and you’ll have access to more fine restaurants…