Here we go: we finally reached the topic of interest for many of you. The information I will provide you is updated with the information I have seen until November 2022.
I have been living in Mexico City all my life and I can tell you this city can offer you a wide possibility of housing options according to your budget or needs… but everything started to change the past year and in many other cities in Mexico.
As you have seen we are all back to normal, in our jobs, traveling, etc. The past 8 months have been very active in tourism to Mexico City and after being enclosed for so long also many people from Canada and USA, are considering moving to live in Mexico City.
Talking about Mexico City, the main option for almost everyone, locals and foreigners is to rent. Mexico City if you want to rent can offer you a huge palette of options in price. But if you want to buy it, may be expensive.
In the past 6 months, the number of foreigners moving to Mexico City increased by 121% in comparison with 2021 and the number is growing as we speak. Mexico City is of the top 5 main cities worldwide chosen by digital nomads and retirees, especially from the USA.
The past two years have been very hard for everyone. That is why many who have the chance to work remotely or are thinking of retiring are looking for a better, cheaper, easier place to live in. Once the pandemic relaxed the rules and travel restrictions the exodus began.
Many foreigners moving to Mexico City, most of them temporary workers, Digital nomads, and some retirees, prefer to rent first to know the place and to determine what is the best option.
At least 60% of foreigners moving down to live here in Mexico City are people between 27 and 45 years old, many of them have a work office. The other percentage are retirees.
Many did choose to sell their properties in the USA or Canada to buy or rent a property here. That is why you need to know what are the prices for rent and sale in the most popular zones in Mexico City.
But the high demand in the past months for properties for rent made the rents increase from 50% to 100% percent in certain cases.
Many foreigners think they may find cheap rent or buy to live comfortably in Mexico City with an incredible cost of living, nothing further from reality in most cases when you choose a popular zone.
What requirements Do I need to meet, to rent a condo or a house in Mexico City
Usually is required you can be able to communicate at least a bit in Spanish or have some one who can accompany you during the negotiation process to translate, you may expect people to speak in English and start speaking in English no matter what, but no, that is rude and people do not like it, please try a bit at least and also remember you can have google translate in your phone as a useful tool to translate the communication basics.
To rent an condo in Mexico City you will be required of:
- Your ID
- Your income receipt or bank statements (required with real estate agents)
- Aval ( aval is someone who grants his/her property house or condo in Mexico City, in guarantee to your rent contract)
- One month of rent in advance
- One more month of guarantee deposit (usually they dont give this money back as is used for repairs after you leave the place)
- What do I do if I have no Aval? : I recommend in this case you do all the process with a real estate agent, and you may find a way:
- Paying a PAGARE: In this process, you sign a legal document that commits you to pay and where you accept some legal restrictions and also consequences in case you do not pay the rent. Landlords have to be sure they will be paid no matter what.
- Using an Obligado Solidario: This is a local person who signs the contract with you and has also the obligation to pay in case you don’t do it, this person does not have to own a property in Mexico City.
- Big Up Front Payment: Being a foreigner of course won’t be an option to know specifically someone to be your aval, then also you can find some landlords are willing to rent if you pay a bit extra, like 6 months in advance of rent. This may be directly negotiated with the real estate agent and the landlord.
Recommendations to look for a property for rent in Mexico City:
If it is your first time and you want a smooth and with no problems, I strongly recommend you to do the process with a real estate agent.
Web Pages:
- https://casas.trovit.com.mx/
- https://www.inmomexico.com/
- https://metroscubicos.com
- https://www.inmuebles24.com/
- https://homie.mx/ Homie is a very helpful site for foreigners without a deposit requirement or aval ( aval is someone who grants a property in guarantee to your rental contract, a bit heavy stuff) in this case Homie is like your Aval you only have to pay a fee monthly to them, is user-friendly and a good option for no long term rents.
Cost of a rent and popular zones for foreigners to live in Mexico City:
La Roma
Is one of the most desirable popular zones for many, is close to everything, right in the heart of Mexico City, traditional bit old town feeling and hipster vibes everywhere, huge trees and a melancholic environment, beautiful buildings with art nouveau balconies, incredible small restaurants and coffee shops in inviting designs. Traditional markets to buy your groceries around, and everything is close but is not so cheap anymore
There are two options in la roma: la Roma South and the Roma North.
La Roma Norte
Is my favorite area, more old style, with beautiful buildings, old restaurants, hipster environment. A huge foreign community lives here, hard to tell what countries specifically but there is a big community of people from Argentina and Colombia. .
- Price of a small room with a kitchen in this area: from 400 USD (honestly if you are super lucky…)
- Price to rent an apartment in this area: is from 700 USD (condo around 50 square meters) to 3000 USD,(condo around 120 square meters) it may depend on the condo amenities or location.
La Roma Sur
A bit more modern looking, not the hipster vibe anymore but is a calm neighborhood, closer to main avenues too and a lot of restaurants and malls close, is a bit cheaper than the Roma Norte, this last one is more popular..
- Price of a small room with a kitchen in this area: from 350 USD
- Price to rent an apartment in this area: is from 650 (condo around 50 square meters) to 2000 USD (condo around 120 square meters), it may depend on the condo amenities or location.
La Condesa
Is a very privileged and popular zone, in the heart of Mexico City. Is actually in the middle of the action, the area is very popular with locals and foreigners, has a lot of street markets, and cool restaurants, and has a vibe of privilege when you live in this zone. You can see people jogging and taking dogs for a stroll in the main parks around. Has nightclubs and the life around feels cool and busy, many crave to live here. Cons: is too crowded, a lot of traffic and because of the night life, certain zones are noisy.
Rent Price of a condo in this area :
- from 800 USD (condo around 40 square meters) ,
- or 1500 USD (condo around 80 square meters)
- or USD to 3500 USD (condo around 160 square meters) it may depend on the condo amenities or location.
Colonia Del Valle
Is my personal favorite well…. I lived there my whole life lol. La Colonia del Valle is a very cool Mid class neighborhood that is very close to everything and has everything. Located also in the heart of Mexico City is surrounded by the main avenues, malls, parks, and restaurants and everything you may desire or need is inside. This privileged zone has excellent public services better than any other part of the city and is a perfect place to live in. Yea is my neighborhood I know but I swear is perfect.
Price of a room in this area: around 300 USD ( around 20 square meters)
Price of a condo in this area: from 750 USD (condo around 80 square meters) to 1500 USD (condo around 120 square meters)
Price to rent a house in this area: from 2000 to 4000 USD, it may depend on the amenities.
Coyoacan:
The jewel of Mexico City. Is like a traditional old town in the heart of Mexico City, there is no place in the whole city like Coyoacan, everyone loves Coyoacan, and everyone living in the city wants to go there for an evening on weekend to escape from the rush and mess of the city. This place is truly beautiful. You can barely believe something like this is inside the city, old houses, old traditional Mexican town vibes all around, and a ton of cool small bars and restaurants. Street food, traditional markets, People selling handmade jewelry, and crafts. You can drink coffee, eat churros, eat ice cream, walk in the amazing plaza, sit by the huge fountain to listen to the bird, and feed some squirrels. Let’s have dinner in one of those amazing warm light restaurants with soft music at street level. You can hear someone playing an instrument, the guy selling balloons. I lived there for 2 years, my experience? Heaven.
- Price of a condo in Coyoacan : from 650 USD (condo around 50 square meters) to 1500 USD (condo around 90 square meters)
- Price to rent a house in this area: from 2000 to 6000 USD, it may depend on the amenities.
Polanco
Very popular zone for many foreigners. I have to say this zone is the most exclusive in the city, is cool and very well located and is very expensive. All around is around luxury and lifestyle if you are looking for a well-located area, with high-class surroundings, exclusive stores, and restaurants this is for you. Cons: Traffic sucks here…
- Price of a condo in this area: from 1500 USD (condo around 60 square meters) to 2500 USD (condo around 150 square meters) 4000 USD (condo around 200 square meters)
- Price to rent a house in this area: from 5000 USD, it may depend on the amenities.
Colonia Juarez
Very popular zone for many foreigners too, close to downtown. Well located, this zone is old and the prices are more affordable, has many main avenues around and the vibes here with old buildings and cool small restaurants are very attractive for foreigners too.
- Price of a condo in this area: from 700 USD (condo around 45-60 square meters), from 1000 USD (condo around 80 square meters), 2000 to 3000 USD (condo around 100-150 square meters)
- Price to rent a house in this area: from 2000 to 5000 USD, it may depend on the amenities
Another zones to live in Mexico City Area Considered by foreigners:
Portales:
Close Colonia del valle and Coyoacan, this district is a bit more middle class neighborhood, you can find bit more affordable prices, also on the sight of foreigners:
- Price of a condo in this area: from 500 USD to 750 USD
- Price to rent a house in this area: from 1000 USD to 2000 USD, it may depend on the size and amenities.
San Pedro de los Pinos:
Nearby Colonia del Valle is also in the heart of Mexico City and the same area with excellent services in comparison with the whole city. close to the main avenues, malls, restaurants, and grocery stores. Also located in a convenient area, a middle class neighborhood, not so charming, but more affordable.
- Price of a condo in this area: from 600 USD (condo around 50 square meters) to 1200 USD (condo around 140 square meters)
- Price to rent a house in this area: from 1000 (house around 80 square meters) to 3000 USD (condo around 300 square meters), it may depend on the size and amenities.
Narvarte:
Right next door with Colonia del Valle, an awesome good location, subway, ground public transport, groceries stores around. Good looking, a calm, and cozy Middle-class neighborhood, has tons and tons of good restaurants and taquerias around and is surrounded by main avenues. This zone is incredible to rent a house.
- Price of a condo in this area: from 500 USD to 900 USD
- Price to rent a house in this area: from 700 to 1500 USD, it may depend on the size and amenities.
Are there other zones to live, maybe not right in the popular zones but in a very affordable zone?
Yes, and the prices can have a huge difference. But also you have to consider that those zones can not be fancy at all or are very far and the transport (because public transportation in CDMX is always crowded as hell) and the distance can be an issue to move around.
Some other areas, very cheap you may consider, can be around o 1hr from everywhere as always in Mexico City, but still in the town, with rents around 600- 800 USD.
- San Jeronimo (South)
- La Petrolera ( Azcapotzalco)
- El Arenal ( Tlalpan)
- Lindavista (North)
- Tacubaya( Center)
- Napoles: (Center)
Mexico City is a popular detination now, but to live here has its considerations, stay safe and I will keep posting more useful information about how is to live in Mexico City, Stay tuned!
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