People from all over the world are choosing Mexico as a retirement destination. More than a million foreigners live permanently in Mexico, and about 50,000 snowbirds spend part of the year in this beautiful country.
We have covered in other blogs the many benefits that Mexico offers its expats: easy straightforward immigration policies, cheap medical bills, warm weather and beautiful settings. But there is also another reason, the lower cost of living in Mexico.
Living in Mexico can reduce your bills dramatically, but do not take our word on it; let the numbers speak for themselves. We have selected three top retirement spots in America and two cities in the Yucatan Peninsula, to do a cost of living comparison on everyday items and services.
*The Lowest values are marked in gree
|Phoenix, AZ||Miami, FL||Tampa, FL||Playa del Carmen||Merida, Yucatan|
|Meal, Inexpensive Restaurant||11.50||13.00||10.00||4.10||5.29|
|Meal for 2, Mid-range Restaurant, Three-course||43.50||60.00||50.00||32.42||20.48|
|McMeal at McDonalds (or Equivalent Combo Meal)||6.00||6.62||7.00||4.61||5.46|
|Domestic Beer (0.5 liter draught)||3.25||3.72||3.50||1.71||1.37|
|Imported Beer (0.33 liter bottle)||5.00||4.48||5.00||2.73||2.25|
|Coke/Pepsi (0.33 liter bottle)||1.48||1.61||1.59||1.02||0.74|
|Water (0.33 liter bottle)||1.23||1.32||1.10||1.15||0.55|
|Milk (regular), (1 liter)||0.75||1.03||1.05||0.96||0.98|
|Loaf of Fresh White Bread (500g)||2.29||2.59||2.40||1.73||1.54|
|Rice (white), (1kg)||3.18||2.44||2.83||0.68||1.06|
|Local Cheese (1kg)||7.80||9.96||11.83||4.44||6.37|
|Chicken Breasts (Boneless, Skinless), (1kg)||5.84||8.49||7.38||5.12||6.46|
|Lettuce (1 head)||1.21||1.63||1.80||0.96||0.61|
|Water (1.5 liter bottle)||1.82||2.13||1.64||0.92||0.75|
|Bottle of Wine (Mid-Range)||12.00||12.00||11.00||7.17||6.14|
|Domestic Beer (0.5 liter bottle)||2.50||3.80||2.13||0.80||1.16|
|Imported Beer (0.33 liter bottle)||2.08||4.62||3.07||1.54||1.18|
|Pack of Cigarettes (Marlboro)||7.50||7.00||6.38||3.41||3.41|
|One-way Ticket (Local Transport)||2.12||2.25||2.00||0.48||0.48|
|Monthly Pass (Regular Price)||64.00||113.75||60.00||N/A||N/A|
|Taxi Start (Normal Tariff)||3.00||2.50||2.50||1.88||1.37|
|Taxi 1km (Normal Tariff)||1.38||1.49||1.00||1.37||0.55|
|Taxi 1hour Waiting (Normal Tariff)||32.50||20.00||25.00||10.24||10.24|
|Gasoline (1 liter)||0.91||0.97||0.92||0.85||0.85|
|Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)||20,000.00||19,000.00||21,500.00||13,310.31||12,969.02|
|Basic (Electricity, Heating, Water, Garbage) for 85m2 Apartment||173.60||173.54||150.31||91.30||133.10|
|1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)||0.12||0.25||0.13||0.11||0.24|
|Internet (6 Mbps, Unlimited Data, Cable/ADSL)||49.38||48.42||47.22||22.17||25.04|
|Sports And Leisure|
|Fitness Club, Monthly Fee for 1 Adult||35.83||38.89||36.00||47.10||22.75|
|Tennis Court Rent (1 Hour on Weekend)||10.00||19.50||16.67||17.06||11.95|
|Cinema, International Release, 1 Seat||9.88||12.00||11.00||3.92||4.78|
|Clothing And Shoes|
|1 Pair of Jeans (Levis 501 Or Similar)||39.17||37.00||39.00||56.31||43.69|
|1 Summer Dress in a Chain Store (Zara, H&M, …)||21.33||57.86||33.71||20.48||59.16|
|1 Pair of Nike Shoes||67.00||78.33||75.44||75.08||64.85|
|1 Pair of Men Leather Shoes||70.00||80.83||79.25||40.95||52.33|
|Rent Per Month|
|Apartment (1 bedroom) in City Centre||833.33||1,609.29||885.00||477.81||204.77|
|Apartment (1 bedroom) Outside of Centre||723.89||1,050.00||693.18||196.24||153.58|
|Apartment (3 bedrooms) in City Centre||1,334.00||2,850.00||1,466.67||1,185.98||420.92|
|Apartment (3 bedrooms) Outside of Centre||1,156.75||1,819.50||1,186.36||477.81||477.81|
|Buy Apartment Price|
|Price per Square Meter to Buy Apartment in City Centre||1,829.86||3,632.82||1,345.49||728.09||648.45|
|Price per Square Meter to Buy Apartment Outside of Centre||1,453.13||1,795.49||1,184.03||750.84||614.32|
|Salaries And Financing|
|Average Monthly Disposable Salary (After Tax)||2,767.86||3,151.83||2,834.99||739.46||418.65|
|Mortgage Interest Rate in Percentages (%), Yearly||4.35||4.35||4.89||9.00||11.50|
As you can see in this cost of living comparison, the cost of living in Mexico is much lower. Even if you decide to spend only part of the year in Mexico, your pension or savings will surely stretch further!
If you have ever dreamed of retiring in Mexico, please feel free to browse our beautiful properties! We have modern condos, retirement communities, beachfront homes, jungle cabanas…. whatever you can dream of!
Our professional and certified real estate agents have the expertise and credentials to help you become a homeowner in Mexico.
And remember, here at Top Mexico Real Estate…
We make it happen!