3 Best Places To Retire in Mexico for Less Than $1,500 a Month
Written by
Gabrielle Olya
Edited by
Molly Sullivan
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Retiring on a budget is difficult in many places in the U.S., but if you’re willing to relocate south of the border, you can find more affordable options. Living in Mexico can offer retirees a more affordable cost of living, allowing a fixed income to stretch further than it would in the states.
While the more popular cities like Puerto Vallarta can get expensive, a report from International Living revealed several places where you can live comfortably for less than $1,500 a month. Here are three Mexican cities you should consider if you’re retiring on a limited budget.
Queretaro, Mexico
Living costs are low in Queretaro, including rent for about $500 per month for a one-bedroom apartment and dinners out for about $25 for a couple in some of the top mid-range restaurants. If you are looking to own, you also don’t have to worry about high property taxes putting a hurt on your bank account.
Located roughly two hours from Mexico City, the city features a lively historic district as well as chain stores that you know and love from the U.S., including Costco and Sam’s Club.
Isla Mujeres, Mexico
Isla Mujeres is only a 20-minute ferry ride from Cancun. The picturesque area is highly affordable — renting an apartment with utilities included will cost an average of $600 a month. Food is also incredibly cheap — you can get a three-course meal at a local kitchen for $5 to $6.
Even better, there’s no need to have a car to get around, with a wide variety of restaurants, hotels and shopping all located along one hop-on, hop-off bus route that costs just over $1.
Cozumel, Mexico
Cozumel is known as a scuba diving destination, but there are plenty of other things to enjoy if that isn’t your cup of tea. There are over 350 restaurants on the island at a range of price points — at more local places, you can get a three-course meal for about $6, and even at the top-tier places, a meal for two will cost around $80 at most.
Rent is also affordable, with the average rent for an unfurnished one-bedroom apartment at $500 a month. The colorful town is a popular tourist destination, so you’ll find top-notch healthcare, dentistry and other health insurance providers.
Caitlyn Moorhead contributed to the reporting for this article.
More From GOBankingRates
