How Much Does It Cost to Live in Mexico?
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I didn’t even know I wanted to live in Mexico, even after the first several trips there. Sure, I had thought about how it may be to live there, but nothing serious, even after visiting Puerto Vallarta and many touristy ex-pat hotspots. That is until I visited Taxco, then Mexico City, and several places in between. I fell in love with the culture, beauty, and lifestyle. Where are you on your decision-making journey about living in Mexico? If you are like me, a big part of this decision came down to the cost of living. Once I started seeing how much I could save, the decision was made.
Are you considering a move to Mexico and wondering about the cost of living? We will explore the various costs associated with living in Mexico, including housing, food, transportation, and more. Whether you’re a retiree looking to stretch your savings, a young professional seeking an affordable place to live and work, or simply someone who loves the idea of living abroad, Mexico is an attractive destination with a wide range of living costs to suit different budgets and lifestyles. In this post, we will discuss how much it costs to live in Mexico and help you determine if this is the right place for you. Vamos…
Topics: People Ask
How Much Does It Cost to Live in Mexico - How Much Should You Expect to Pay Per Month/Year in Mexico - Residency and Health Insurance Questions. Reasons to Live in Mexico - Advantages and Disadvantages of Living in Mexico - Can You Live under #1000 I in Mexico - What Kind of Quality of Life Can You Have - Can You Afford to Retire on Social Security in Mexico - Residency Income Requirements - Travel Resources - Best Hotels and Tours in Mexico
A Better Quality of Life for Less
Moving to Mexico can be a great way to improve your quality of life while saving money. You can find lower housing, food, and healthcare costs in Mexico. Additionally, the climate in Mexico is often preferable to that of other countries. If you are looking for a place to retire or want to live a better life for less money, Mexico may be the right choice. Do you want to live in tourist areas, close to ex-pat communities, or off the beaten path?
How about the weather – are you looking for moderate temperatures or want to live the beach life? How about this decision – Are you looking for the larger cities with all the amenities or a Pueblo Magico town to experience the real Mexico? All of these are important questions to ask yourself upfront. It’s important to research the cost of living in Mexico before making a move. Depending on your lifestyle and location preferences, the cost of living can vary widely.
Many people find that the cost of living in Mexico allows them to enjoy a higher quality of life than they could in their home countries. In addition to lower prices for everyday expenses, Mexico offers a wide range of cultural, recreational, and natural attractions.
The country has a rich history and diverse culture, with a vibrant arts scene and delicious cuisine. It also has many beautiful beaches, charming small towns, and exciting cities to explore. The weather in Mexico is also generally very pleasant, with many areas experiencing warm, sunny conditions throughout the year. All of these factors can contribute to a higher quality of life for those who choose to live in Mexico.
How Much Does it Cost to Live in Mexico?
If you’re considering moving to Mexico, you’re probably wondering how much it will cost to live there. The good news is that the cost of living in Mexico is relatively low, especially compared to places like the United States or Europe. Of course, the actual cost of living will vary depending on your specific location and lifestyle.
For example, if you want to live in a major city like Mexico City, you’ll likely pay more for rent and groceries than if you move to a smaller town. Or, if you choose one of the popular ex-pat locations, such as Ajijic or San Miguel de Allende, it will cost more than most places. In Mexico, you can expect to spend less on basic necessities like housing, food, and transportation than in most developed countries.
So if you’re looking for a place to live where your dollar will go further, Mexico is definitely worth considering. As someone who has lived in Mexico, I can attest to the fact that it is an incredibly affordable place to live. I was able to live quite comfortably on a very small budget. If you’re looking for a place where your dollar will go further, Mexico is definitely worth considering.
There are many factors that can influence the cost of living in a particular place. Some of the main factors include:
Housing costs: The cost of renting or buying a home is often a major expense for people, and can vary greatly depending on location and property type.
Grocery and household expenses: The cost of groceries, household items, and other everyday necessities can also vary depending on location.
Healthcare: The cost of healthcare and insurance can be a significant expense, particularly for those with chronic conditions or who need regular medical care.
Transportation: The cost of owning and maintaining a vehicle, as well as the cost of public transportation, can be a significant expense in some areas.
Entertainment: The cost of leisure activities, such as dining out, going to the movies, and participating in sports or hobbies, can also vary depending on location.
Overall, the cost of living in a particular place is determined by the combination of these and other factors, and can vary greatly from one location to another.
Resources
Check out the best Travel Tours list that features popular activities, guided packages, and hidden gems you must see at Viator.
I use several different resources when comparing flight and lodging prices. You can save even more by searching using our partner travel links. Use our links and resource section, and save. We may receive a small commission from these sites on bookings that go towards running a blog site, but I have used them personally, with no extra cost to you, and you will love them.
Google Flights – Trip.com – Travelocity – Hotwire – Trivago – Kiwi – TripAdvisor – Wayaway – Verbo – Cheaptickets – Booking.com – Hostelworld – Skyscanner – Expedia – Babbel –
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Tours: Viator and Get Your Guide – We use to book our tours
Insurance: EKTA and Visitors Coverage – Travel Insurance Abroad
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Full Breakdown of the Cost of Living in Mexico
Can you afford to retire in Mexico on, let’s say – the average social security check of $1800 a month as is projected for 2023 Yes, and in fact, with good budgeting – you can live quite comfortably. In high ex-pat areas, you could expect to perhaps pay up to $600 a month rent for a fully furnished two bedroom – 2 bath very nice rental. Other locations could be as little as half that amount.
On a side note- where you start out renting is most likely not where you will be long-term. Why? Because unless you have a great relocation specialist or work with a realty company – the best way to find deals is boots on the ground seeing “se renta” signs or word of mouth from the locals. It is not uncommon to land a condo for $400-$500 within a gated community or a villa-style location at great prices if you shop around. I routinely stayed near El Centro in that price range and could have saved even more if I had been willing to live outside the city.
For one person monthly: Let’s look at a budget-friendly breakdown vs. avg budget for comparison:
- Rent $600
- Utilities $30
- Internet $25
- Food: $200
- Health Insurance $150
- Transportation $70 (sell your car – you won’t need it in Mexico)
- Restaurants/Vendors and Markets $200
- Entertainment/Misc $100
- Misc/Save $425
- Total $1800
Source: Cost of Living in Mexico
Residency Income Requirements
To become a resident of Mexico, you must meet certain income requirements. This typically involves showing proof of income or financial assets that are sufficient to support yourself and any dependents without needing to work in Mexico. The exact income requirements can vary depending on the type of residency permit you are applying for, as well as the specific location where you will be living. It’s best to consult with the Mexican consulate or a qualified immigration attorney to learn more about the specific income requirements for residency in Mexico.
It keeps going up each year! There was a time when you didn’t have to meet such a high and ever-changing income requirement, but those days are gone. But, the good news is that it is still relatively low (Check out the Income Requirements for residency in Mexico). To confound the issue, the requirements can vary from consulate to consulate. Check around with different locations to verify the income standards they require. What the consulate says in Houston could be different in Phoenix. Welcome to the Mexican way of government (List of Consulate locations).
I know many people who shop around at various foreign consulates and fly into the city with the most favorable guidelines to obtain temporary residency. As you may expect, most border states have more favorable requirements.
Final Thoughts, Tips and Reasons to Live in Mexico
There are many reasons why someone might want to live in Mexico. Some common reasons include the country’s lower cost of living, beautiful natural scenery, rich culture and history, and pleasant climate. Mexico also offers a wide range of recreational activities, from relaxing on the beach to exploring ancient ruins and hiking in the mountains. Additionally, many people are drawn to Mexico’s vibrant arts and music scene, as well as its delicious cuisine. Overall, Mexico offers a unique blend of modern amenities and traditional charm that can make it an attractive place to live for many people.
Here are a few final tips for living in Mexico:
Research different cities and towns to find the one that best suits your needs and budget.
Learn some basic Spanish to make it easier to communicate with locals and navigate daily life.
Research the income requirements for obtaining residency in Mexico and gather the necessary documents to apply.
Find out about any restrictions on bringing certain items, such as pets or household goods, into the country.
Consider purchasing health insurance to ensure that you have access to quality medical care.
Take the time to explore different parts of Mexico and learn about the country’s rich culture and history.
Overall, living in Mexico can be a rewarding and enjoyable experience if you take the time to prepare and familiarize yourself with the country.
Moving to Mexico was the best decision of my life. I lived in Europe for two years, and it offers much. But there is just something different about Mexico’s humble laidback lifestyle and beauty. Living on 1/3 of my previous monthly budget allowed me to have the lifestyle I had always dreamed about.
Personal Experience Tips: Rent, don’t buy, sell your car before moving, travel light, purchase local health insurance (it’s cheap and good), and live on a budget. You can expect to save roughly 66% of what you would pay to live monthly in the US. A 1/3 of the cost! Will you have to change your lifestyle? It depends on how you want to live, but for some of us, changing to a slower pace of life and living for experiences is a welcome change. My time living in Mexico has changed me (My reasons for traveling to Mexico), and it just might have the same effect on you.
Let’s remember our position as a quest in another country and do our best to speak and walk humbly with dignity and respect for our surroundings: we’re the ones coming here to visit or live our best lives, and we, like many people trying to get in another country – are appreciative of the opportunity. Thank you for having me, Mexico.
As always, we appreciate you and Live Con Todo.
Sources
- Wikimedia
- Consul Mex
- Embassy Finder
- Cost of Living
- Personal Experiences
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Calvin L Miller II
Mexico Travel Writer / Blogger / Vlogger
Creator of the Con Todo Brand