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. Meanwhile, Mexico City is the most expensive place to buy residential property in Mexico.
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.
You can thus get by on $600 to $2,000 a month. From rent to groceries, utilities to an internet connection, and dining out to transportation, everything is more affordable in Mexico compared to the U.S. Rent is typically everyone's biggest monthly expense. By living in Mexico, you can save up to 71.2% in rent.
Living in Mexico for $1000 a month is feasible, especially if you adapt to the local lifestyle. Renting a modest apartment, eating local food, using public transportation, and taking advantage of the national healthcare system can help you live comfortably within this budget.
Summary of cost of living in Mexico City, Mexico: A family of four estimated monthly costs are 2,660.4$ (48,545.7MXN) without rent. A single person estimated monthly costs are 722.6$ (13,185.2MXN) without rent.
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 the first quarter of 2024, the economically active population of Ciudad de México was 4.91M people. The workforce reached 4.72M people (46% women and 54% men) with an average monthly salary of $5.41k MX.
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