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These days, finding an affordable place to live in the Mexico area can be challenging. Home prices in Mexico are now at a median cost of $162,645, lower than the New York average of $610,895.
The average cost of rent is $930/mo in Mexico, primarily driven by the current value of real estate in the Mexico area. In Mexico, 21.50% of households rent, and 41.62% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Mexico is $5,640 per month. Households that rent pay about 16.48% of their income on rent here. Mexico’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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