Real Estate in Merida, Mexico
Last updated on Jan 04, 2023
Summary: The most desirable neighborhoods in Merida, Mexico are Centro, Santiago, and Santa Ana. The average cost to buy a nice 2 bedroom home in Merida is around $150,000 USD and a nice 3 bedroom home is around $200,000 USD. These properties typically include modern amenities such as air conditioning, high-speed internet, and a private pool. Foreigners are allowed to own property in Merida, however, they must obtain a permit from the Mexican government. The best way for an expat to search for a home to buy in Merida is to use a real estate agent who is familiar with the area and can provide advice on the best neighborhoods and properties. Additionally, expats should research the local market and compare prices to ensure they are getting the best deal.
How do I find a place to live in Merida?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"After studyinng the market here for 2 1/2 years and debating renting or buying, we learned a lot about neighborhoods. And we learned the best way to figure out where you want to be is to come down and go airbnb for a while in different neighborhoods to figure out what you want. For those of us on a budget, Norte and Santiago are much too expensive and the father you go from Centro prices fall dramatically. We just bought a house and it was only after looking at very many and being ready to pounce on one that was significantly reduced in price and in excellent condition. Those go very quickly. Even renting, remember if you don't like the neighborhood, you're stuck for a year usually," added another expat who made the move to Merida.
"If you are looking for a place to live in Merida, you can begin your search online through websites such as Yucatán Today, Yucal Rentals, and Expat Merida. Additionally, you can visit the city center and take a walk around the local neighborhoods in order to look for signs announcing new rentals or contact real estate agencies for more information. You can also contact local universities and colleges as they often have accommodation options for international students. Lastly, as Merida is a popular tourist destination you can easily find rental apartments, houses, and villas available through vacation rental websites," explained one foreigner living in Merida, Mexico.
What is a typical expat home or apartment like in Merida?
"Most expat homes in Merida resemble traditional Yucatecan architecture, with high ceilings and plenty of natural light, as well as courtyards enclosed with carved stone walls. The common layout will have an entry patio with several rooms around it, spacious living and dining areas, and often several balconies or terraces looking into the street or courtyard. Typical luxuries include marble floors, wood fixtures, and tiled bathrooms. The city is known for its opulent and modern homes, so the options vary widely and can include swimming pools and other amenities," remarked another foreigner who made the move to Merida.
"We rented a 3 BR/3 Bath home. It is very modern and has a small front yard and a beautiful back yard with a pool. It is 2 stories. We also have a terrace overlooking the back yard and a sunny roof top overlooking the front of the house. The house has a large wall around it and an electric gate in the front which is very nice for our 2 dogs and 2 cats. They can go in and out as they please," explained one person living in Merida, Mexico.
What is the average cost of housing in Merida?
If you are thinking about moving to Merida, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Merida varies depending on the size, location, and condition of the property. Generally, the cost of renting can range from $300 to $1000 per month, while purchasing a property can be from $100,000 to $500,000," remarked another member in Merida.
"My husband found a two bedroom one bath house in Pensiones neighborhood in Merida Yucatan for about $35,000 USD. It needs another $10k in upgrades or remodeling but it is a cute home and would be great. The rents here are all over the place. But a huge home with a lot of amenities unfurnished in my neighborhood (4 bedrooms or 5 with three bathrooms and so on? Goes for $14,000 Mexican pesos a month. About $675 or $700 USD give or take," explained one expat living in Mexico.
Should I buy or rent a home in Merida?
If you have not spent a lot of time in Merida, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying or renting a home in Merida will largely depend on your budget, lifestyle and goals. Renting provides more flexibility and is often more affordable upfront. Buying a home gives you more stability and the potential to build equity in a property over time. Research the local real estate market to determine which option is best for you," said another person in Merida.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
- Expat Guide to Merida
- Healthcare & Health Insurance in Merida
- Living in Merida, Mexico
- Healthcare & Health Insurance in Mexico
- Best Places to Live in Mexico
- Real Estate in Mexico
- Healthcare in Mexico
- What It's Like Living in Merida
- Pros and Cons of Living in Mexico 2023
- 2023 Guide to Moving to Mexico
- Members Talk about the Cost of Living in Mexico