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Mexico City

Real Estate in Mexico City

By Joshua Wood, LPC

Last updated on Feb 04, 2023

Summary: Expats and retirees talk about real estate in Mexico City, Mexico? How do you find a home in Mexico City? Should you buy or rent? What is the cost of housing?

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How do I find a place to live in Mexico City?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Mexico City can be a daunting task. However, there are many great resources available to help guide your search. One of the most effective ways to search for properties is to use real estate websites. Many of these platforms will allow you to narrow your search by desired amenities, budgets, and neighborhood preferences. Additionally, sites such as InterNations often have listings of sublets or available rooms for rent. Additionally, local classifieds such as Craigslist, Facebook Marketplace, and Startups Mexico can be a great resource for apartment listings. If you prefer to do your search on the ground, you can ask around and check bulletin boards near small businesses and caf├ęs. Additionally, most neighborhoods in Mexico City have a weekly market which can be a great place to find unique rental opportunities. Additionally, you can contact a local real estate agent or rental agent who can assist you in your search. Professional rental agents will often have inside information on available listings and can recommend neighborhoods that fit your personal preferences," said another expat in Mexico City.

"My company assisted us by hiring a Relocation company. In Mexico City it is very important to know where you will work in order to find your home. Commuting time can be terrible if you do not consider this important issues," remarked another member in Mexico City.

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What is a typical expat home or apartment like in Mexico City?

"Expat homes and apartments in Mexico City often have modern fixtures, appliances and space-saving layouts. The apartments tend to be small but have an open floor plan with kitchen/dining areas that flow into living space. Most expat homes and apartments are fitted with a range of amenities, such as air-conditioning, fire safety systems, basic appliances, and stylish furnishings. For additional comfort, many also feature gardens and terraces, while some also have access to private pools. The location of these homes and apartments varies, but they can often be found in the city's more affluent areas, such as Polanco, Condesa and La Roma," said another person in Mexico City.

"Apartments are the most recommended housing for expats. One reason is security, and also you can make friends easier on the social areas like swiming pools, tennis courts, etc," remarked another foreigner who made the move to Mexico City.

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What is the average cost of housing in Mexico City?

If you are thinking about moving to Mexico City, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The cost of housing in Mexico City varies greatly depending on the neighborhood, size and amenities of the property, and other factors. However, in general, rental prices for apartments in the city range from around 3,000 pesos per month for basic one-bedroom apartments, to 10,000 or more pesos per month for furnished apartments in more exclusive neighborhoods," remarked another member in Mexico City.

"Mexico City is an expensive city to live in. I am lucky to have my company pay for it, but to give an idea: A three bedroom apartment can go from US$2,500 - 5,000 per month plus utilities," explained one expat living in Mexico City, Mexico.

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Should I buy or rent a home in Mexico City?

If you have not spent a lot of time in Mexico City, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"Whether you should buy or rent a home in Mexico City depends on the type of lifestyle you desire, your budget and your long-term plans. Pros and cons to both exist, so you should carefully consider your options before making a decision. When you buy a home in Mexico City, you have the potential to gain equity in the home, which can be an investment. On the other hand, if you need to move, selling the home can be a complicated process, and you may have a hard time recouping your investment. Renting can be a more affordable option, depending on the type of property you choose. It also offers more flexibility in case you need to move, since you are usually not legally bound to the property for an extended period of time. However, if you are renting and the landlord decides to increase the rent, you will have to find another place to live or pay the higher rate," said another person in Mexico City.

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About the Author

Joshua Wood 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.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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