Updated: Apr 9, 2021
What is the cost of long term rentals in Mexico? This is one of the most frequently asked questions I've seen when considering moving or retiring in Mexico. Well, I can tell you that there is excellent affordable housing here in Mexico, unlike many big cities in the United States Of America. Even what is considered extravagant here for locals may be very reasonable to ex-pats. This is one of the most significant issues Mexicans have with ex-pats because we typically drive the locals' prices to unattainable levels. Also, because you are an ex-pat, many landlords will assume you can pay more. So how do you find that perfect place that is comfortable for you and at a great price?
Merida, like Atlanta, has a perimeter with suburbs and neighboring cities. The northern areas have more affluent homes. We are talking about houses that could occupy 1/4 of a city block surrounded by a security wall, aka a compound. Homes of this size are not uncommon in Monte De Ames, Benito Juarez, Mexico Norte, Campestre, Monte Bella, Alta Brisa, Or San Ramon Norte. I've seen rent in these areas from $15000 pesos to $60000 pesos ($715 USD to $2850 USD) depending on the houses' size and amenities. All of the areas mentioned above are in the northern inside the perimeter (ITP) areas of Merida.
Then You have the downtown area, or Centro Merida, filled with colonial-style homes with 20-foot ceilings and inner courtyards. There are many popular Colonia or neighborhoods in Centro. Santiago, Santa Anna, Garcia Gineres, and Itzimna are a few that come to mind. Here in a rehabilitated colonial, you can pay anywhere from $11000 to $80000 pesos depending on the house's size, location, and amenities.
Most of the ex-pats that I know have very cheap rental rates live in a suburb in one of the many mass developments outside the city. Caucel and Las Americas are two that come to mind. Here, you can buy a basic home for $30,000 USD. This home would be a 2-bed room with one bath house with a kitchen and family room. The rents in both areas can be had for $5000 pesos ($250 USD) upwards. These large neighborhoods have many different phases to them. So you can also find colossal compound style homes as well. As you can see, it boils down to the area of town that will fit you the most, how important are private schools, walkability, and proximity to amenities that you need. But if you are earning dollars and spending in pesos, I think you can find Merida and Mexico as a whole a very cheap place to buy or rent a home when you are thinking of moving or retiring in Mexico. One good place to check to get an idea of rent prices is Vivanuncios, although the best places are found by walking the streets and calling the houses' signs.
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Until Next Time, MexitPlans Monte