Housing & Property in Mexico

The majority of people in Mexico live in rented accommodation rather than own their own homes. Lately more Mexicans have been able to get home mortgages, but these are still a minority. There is thus a strong demand and also a strong supply with many rental homes available at prices far cheaper than can be found in the United States.

Outside of major cities, one can rent a nice but small apartment, for the equivalent of only about 250 American dollars a month, or a three bedroom house for only around 500 US dollars a month. Apartments in Mexico are usually rented out unfurnished. However, many properties in Mexico exist in roped off or gated communities, even including entire supposedly public streets that are guarded by private security guards who allow access only to residents of that community bearing the appropriate sticker in the window of their vehicle, and to visitors only after they have registered with ID at the gate house. The payment of the security guards is an additional charge for the tenants beside their rent payments.

Most leases are for 12 months, although other durations are possible to find. There is usually a refundable security deposit equal to a month's rent. Apartments can be found by word of mouth, internet, newspaper, window signs, or a real estate agent.