Cost of Living in Cancun 2024: Budget Guide for Expats
A Detailed Guide for Expats and Travelers
Cancun offers a vibrant lifestyle at a fraction of the cost compared to many cities in the U.S. and Canada. Whether you're a digital nomad, retiree, or traveler, this guide will help you understand the essential costs of living in Cancun, from housing and utilities to groceries and entertainment.
Table of Contents
- Housing Costs
- Utilities and Internet
- Groceries and Dining Out
- Transportation Costs
- Healthcare and Insurance
- Entertainment and Lifestyle
- Additional Living Costs
- Comparing Cancun with Other Cities
- Other Articles About Real Estate In Cancun
- What Are Clients Saying About Mycasa Real Estate?
- Frequently Asked Questions
Housing Costs
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Rent
Renting in Cancun is affordable compared to North American standards. Here’s a breakdown:
- One-bedroom apartment in the city center: Approx. 8,000-12,000 MXN per month.
- One-bedroom apartment outside the city center: Approx. 6,000-10,000 MXN per month.
If you're looking for a furnished rental, expect a slight increase in costs.
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Buying Property in Cancun
Buying property in Cancun involves its own costs. Annual property taxes in Mexico are low, ranging from $100 to $500, with condos averaging $150-250 annually. Non-citizens need to pay a bank trust fee, ranging from $900 to $1500 per year.
Closing costs are typically between 7-10% of the purchase price.
For a DETAILED BREAKDOWN OF CLOSING COSTS, check out this Article
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Utilities and Internet
Monthly utility costs in Cancun are reasonable. Key expenses include:
- Electricity: 400-1,500 MXN (varies depending on air conditioner usage).
- Water: Around 200-300 MXN per month.
- Internet: High-speed plans start at 500 MXN per month.
Pro tip: Consider energy-efficient appliances to reduce electricity costs during the hot season.
Groceries and Dining Out
Grocery Shopping
Shopping for groceries locally is both affordable and fresh. Common items and their prices:
- Fruits and vegetables: 20-40 MXN per kilogram.
- Chicken breast: 100-120 MXN per kilogram.
- Rice and beans: 15-25 MXN per kilogram.
Shopping at local markets (mercados) offers the best value and quality.
Dining Out
Cancun is a paradise for food lovers. Dining out options:
- Casual local eateries (comida corrida): 80-120 MXN for a full meal.
- Mid-range restaurants: 250-400 MXN per person.
Transportation Costs
Getting around Cancun is cost-effective:
- Local buses (R1 or R2): 12-15 MXN per ride.
- Taxis: 40-80 MXN for short distances within the city.
- Car rentals: Around 7,000-10,000 MXN per month for a basic vehicle.
Pro tip: Public transport is reliable and significantly cheaper than owning a car.
Healthcare and Insurance
Medical Services
Cancun boasts high-quality healthcare facilities at competitive prices. Costs for common services:
- Doctor’s visit: 500-700 MXN.
- Specialist consultation: 1,000-1,500 MXN.
Health Insurance
Private health insurance plans for expats range from 1,500-4,000 MXN per month, depending on the coverage.
Entertainment and Lifestyle
Cancun is known for its vibrant lifestyle, with activities to suit every budget. Key costs include:
- Gym memberships: Around 500-1,200 MXN per month.
- Cinema tickets: 60-100 MXN per person.
- Beach club access: 200-500 MXN per visit.
For sports enthusiasts, renting a tennis court costs about 374 MXN, while engaging in water sports like snorkeling and diving varies based on packages.
Additional Living Costs
Beyond primary living expenses, consider these additional costs when living in Cancun:
- Gym Memberships: Average 466 MXN/month, with options ranging from $20–$60 USD.
- Tennis Court Rentals: About 374 MXN/hour on weekends for sports enthusiasts.
- Convenient Shopping: Multiple Walmarts and American-style malls make household shopping easy.
- Fitness-Friendly Lifestyle: Affordable amenities help residents stay active without overspending.
- Varied Choices: Plenty of budget-friendly options for recreation and daily needs.
Comparing Cancun with Other Cities
Cancun generally has a lower cost of living compared to major Mexican cities like Mexico City, Guadalajara, and Monterrey. This makes it an attractive destination for those seeking a high quality of life without the high costs of larger cities.
The rental market in Cancun is also more affordable than in many international cities, such as Amsterdam. This affordability extends to other aspects of living, including food, transportation, and entertainment, making Cancun ideal for expats seeking a balanced lifestyle.
Whether you’re comparing it to other cities in Central America, South America, or even Canada, Cancun offers a unique blend of affordability and lifestyle that is hard to beat. Its stunning beaches, rich culture, and vibrant expat community make it an ideal place to call home.
Other Articles About Real Estate In Cancun
Cancun - Costa Mujeres Boulevard: Key Real Estate Investment for U.S. and Canadian Buyers
Cancun Airport Expansion: Key Impacts
How Cancun's Airport Tech Boosts Real Estate
Top Cancun Real Estate for Sale: Luxury Homes and Villas 2024
2024 Relocation Guide (part 3): Best Places to Retire
What Are Clients Saying About Mycasa Real Estate?
"We have been beyond pleased...we felt in good hands the entire process." Jodi Ribar. Google Review
"...and within 5 minutes, she called me." Leanne Knox. Google Review
"He is incredibly knowledgeable about the area, knows all the details about the property..." Claudia Ruiz. Google Review
"She listened to every single detail of what I was looking for in a property..." Kendra Mangana-Adams. Google Review
Ready to book a trip and shop for your dream home, plan your trip with Google Travel
Frequently Asked Questions
What is the average monthly rent in Cancun?
The average monthly rent in Cancun for a one-bedroom apartment is approximately 14,053 MXN in the city center and 9,000 MXN outside the city center. For a three-bedroom apartment in the city center, rents can reach around 21,958 MXN.
How much does it cost to eat out in Cancun?
Dining out in Cancun is affordable, with street food costing between 50 to 120 MXN and meals at mid-range restaurants ranging from 350 to 500 MXN. Thus, you can enjoy a variety of dining options to suit your budget.
What are the transportation options in Cancun?
Cancun provides diverse transportation options, including affordable public buses for approximately $1 per ride, taxis with fares between $10 and $30, and car rentals priced from $25 to $50 per day. Utilizing these options can enhance your travel experience in the region.
How is healthcare in Cancun for expats?
Healthcare in Cancun is highly regarded for expats due to its excellent quality and affordability. The presence of internationally accredited hospitals and English-speaking medical professionals enhances accessibility and comfort for those seeking medical care.
What are the additional living costs to consider in Cancun?
When living in Cancun, it is essential to consider additional costs such as gym memberships averaging around 466 MXN per month and renting a tennis court for approximately 374 MXN, along with regular household shopping. These expenses can significantly influence your overall budget.
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