How much money do I need to live in Puerto Vallarta? - 2023 (2024)

FAQs

How much money do you need to live comfortably in Puerto Vallarta? ›

One can live in Mexico on $1,000 a month or even less quite easily. In fact, locals live on much tighter budgets. As a foreigner, you will see that pretty much everything costs less than in your home country. Rent, food, transportation and healthcare in Mexico are much cheaper than in the US, Canada or Western Europe.

Speaking from the personal experience of living in Puerto Vallarta for a year (a popular tourist city), rent for a two bedroom apartment can range anywhere from $400 US to $1500 US dollars a month. Utilities are also not that expensive ($100 or less a month, including cable internet/tv).

Pesos are essential to maximizing the potential of your stay in Mexico as well as its value. There are many ways to gain access to the country's national currency, and while North American dollars are widely accepted in Puerto Vallarta, the fact is that pesos carry more weight in the area.

🤝 Where do most expats live in Puerto Vallarta? For starters, most expats and Americans live in Zona Romantica because that's the most popular Puerto Vallarta neighborhood on the Internet.

According to local government estimates, there are around 35,000 U.S. and Canadian citizens living in Puerto Vallarta, many of them retired like Mike and Sara.

Average rental price in Puerto Vallarta

Houses in the tourist areas of Puerto Vallarta have an average rental cost of 21,464 pesos, or just over $1,000 a month. The apartments, meanwhile, have a rental cost of 18,752 pesos, or just around $900 USD per month.

You will find that Puerto Vallarta is less expensive than Cabo. You'll notice it's about 30 percent cheaper. If you're on a budget, Puerto Vallarta has many more affordable choices for accommodations and food and drink prices are significantly cheaper than Los Cabos.

How many pesos a month is rent in Mexico? ›

If you are a U.S. citizen, you may receive your Social Security payments outside the U.S. as long as you are eligible for them.

Yes, as long as you are eligible for U.S. Social Security payments, you will be eligible to receive payments while living in Mexico. Where do US Citizens Retire in Mexico? It's varied.

A retired couple can expect to retire comfortably in Mexico with an average income of about $2,500 a month, or $30,000 a year, according to InternationalLiving.com. These figures include the cost of a house, a maid service, utilities, groceries, entertainment, health insurance and more.

Investing in Puerto Vallarta's real estate is more affordable than you might think. With a wide range of properties available, you're sure to find one that fits your budget. If you're looking for a sound investment opportunity, Puerto Vallarta's real estate market is definitely worth considering.

The nicest part of Puerto Vallarta is Zona Romantic, or the Romantic Zone, where many of the best restaurants, boutiques, and attractions are located. With that said, Puerto Vallarta has many nice parts, with other nice areas including Conchas Chinas, Centro Puerto Vallarta, and Marina Vallarta.

Buying property in Puerto Vallarta IS possible, whether you're an American citizen, Canadian, Mexican national, or from anywhere else in the world! So, whether you are a foreigner or Mexican resident, it is completely legal to buy property in Puerto Vallarta.

If you are coming to Puerto Vallarta, Mexico we highly suggest you exchange your US dollars for pesos. Although most places around town do indeed accept US dollars, the exchange rate is much less favorable at these places than at a bank.

If your priority is to save money, visiting Puerto Vallarta during the low season is recommended, particularly from July through September. However, keep in mind that while flights are more affordable during this time of the year, many hotels close from July to August to accomplish their annual repairs.

The exchange rate has averaged around 20 pesos to 1 USD in 2021/2022, making it easy for approximate estimates in your head (i.e., 20 pesos equals 1 dollar, 50 pesos equals 2.50 dollars, 100 pesos equals 5 dollars, 200 pesos equals 10 dollars, etc.), but there are multitudes of currency apps to add to your phone for ...

What is the safest neighborhood in Puerto Vallarta? ›

The traditional Romantic Zone and the area along Malecon are the safest places for tourists as plenty of people are out and about for most of the day. However, further inland from the beach is some of the most dangerous streets in Puerto Vallarta.

The answer is yes and no. The good news is Puerto Vallarta has some of the cleanest water in all of Mexico! The water is treated and purified, but that being said, the distribution system is not perfect. In many restaurants and some rental properties you will get purified water, but not everywhere.

Yes, you can absolutely live in Mexico for $1500/month. Many people already do it. The trick is having and sticking to a budget. You'll have to set a realistic budget for a rental, health insurance, groceries, eating out, transportation, and entertainment.

A retired couple can expect to retire comfortably in Mexico with an average income of about $2,500 a month, or $30,000 a year, according to InternationalLiving.com. These figures include the cost of a house, a maid service, utilities, groceries, entertainment, health insurance and more.

A permanent visa requires proof of a monthly income of $2,700 a month or at least $149,000 sitting in the bank. There are a few extra requirements to obtain a permanent visa in the country.

For many people, retiring on the beach is a dream that can become a reality on the shores of Mexico. One of the most beloved destinations to retire in Mexico is Puerto Vallarta and for good reason. From its warm climate to the many activities and things to do, Vallarta is a great place to settle down.

The cost of electricity for a two-bedroom condo unit, assuming responsible usage and averaging over the span of the year, is around $100 to $150 per month, with higher usage in the summer months for air-conditioning and lower usage in the winter.

The tax is different in each Mexican state, but the rates range from 1.8% to 4.5% of the value of the property, Mr. Camarena said. In Puerto Vallarta, the tax could be as much as 3%, he added.

Your cost of living will depend on your lifestyle, but most Puerto Vallarta digital nomads spend about 1000-2000 USD a month. Your biggest expenses will be apartment rentals, which you save significantly on by staying a few months and not booking directly on Airbnb.

How much does the average person make in Puerto Vallarta? ›

The average salary for jobs in Puerto Vallarta, Mexico is $265,666 (MXN) per year or an hourly rate of $128 (MXN).

The Average Temperature in Puerto Vallarta

You'll experience the hottest temperatures from June through October, when the daily highs are usually above 88F. The hottest day of the year is typically August 2nd, which has an average high of 90F.

Puerto Vallarta is a stunning resort town located on Mexico's Pacific coast in Jalisco state. Known for its spectacular beaches, marine life, water sports, and local resorts, Puerto Vallarta is one of the most popular vacation destinations in the world.

You should plan to spend around M$1,527 ($83) per day on your vacation in Puerto Vallarta, which is the average daily price based on the expenses of other visitors. Past travelers have spent, on average, M$491 ($27) on meals for one day and M$256 ($14) on local transportation.

Just to recap, it IS possible to live in Mexico on $500 per month, but it is difficult. My top recommendation for where to live in Mexico on $500 per month is San Cristobal de las Casas because it's a beautiful city with lots of things to do and it's very inexpensive.

1 USD = 17.9566 MXN Mar 04, 2023 18:58 UTC

The currency converter below is easy to use and the currency rates are updated frequently.

If you leave the U.S., we will stop your benefits the month after the sixth calendar month in a row that you are outside the country. You can make visits to the United States for specific periods of time, depending on how long you've been outside, to continue receiving your benefits.

There are many countries with an international direct deposit agreement with the United States. This agreement allows the transfer and foreign currency conversion of US Social Security benefits to a foreign bank free of most charges. The Social Security Administration covers the cost of the fees.

If you are traveling outside the U.S. for an extended amount of time, it's important that you tell Social Security the date you plan to leave and the date you plan to come back, no matter how long you expect your travel to last. Then we can let you know whether your Supplemental Security Income (SSI) will be affected.

Can I use Medicare in Mexico? ›

You cannot use Medicare in Mexico because Medicare coverage does not pay for health care or supplies you get outside the U.S. This means if you are traveling in Mexico or residing there permanently, your Medicare benefits will not remain in effect.

Expat tax rules state that if you're a U.S. citizen or Green Card holder, you have to file a U.S. tax return each year, even if you live and work in Mexico.

"Most Americans who choose to retire in Mexico opt for San Miguel Allende," said John Hubbard, the founder and CEO of Urban Dare. "That's because it offers a temperate climate all year round. Low-cost and high-quality healthcare is also available.

An example of a comfortable life in Mexico

With a monthly budget of $1,000-$1,400, everyone will find their life comfortable in Mexico. You can rent at least a one-bedroom apartment with air conditioning in a good location. Moreover, you can even afford a maid once per week. They charge only $3-$4 per hour.

The gross living wage (aka living wage), which also considers income taxes and mandatory payroll deductions, is MXN 13,117 (USD 639) per month for 2022. These are average estimates for the year 2022.

Mexico Monthly Earnings stood at 821 USD in Jan 2023, compared with the previous figure of 744 USD in Dec 2022 See the table below for more data.

Do you pay taxes living in Mexico? ›

Resident individuals are subject to Mexican income tax on their worldwide income, regardless of their nationality. Non-residents, including Mexican citizens who can prove residence for tax purposes in a foreign country, are taxed only on their Mexican-source income.

Just to recap, it IS possible to live in Mexico on $500 per month, but it is difficult. My top recommendation for where to live in Mexico on $500 per month is San Cristobal de las Casas because it's a beautiful city with lots of things to do and it's very inexpensive.

If I retire in Mexico will I lose my social security? No, U.S. citizens can collect social security in Mexico. There are a few countries the U.S. will not send benefits to and your payments are withheld until you return to the US, but Mexico is not one of them.

You can live comfortably on a budget of $1500-$2000 per month in large cities like Mexico City, Guadalajara, Monterrey, and Tijuana. This budget is also suitable for some expat destinations such as San Miguel de Allende, Ajijic and the Lake Chapala area, Merida, Sayulita, Ensenada, etc.

Yes, as long as you are eligible for U.S. Social Security payments, you will be eligible to receive payments while living in Mexico. Where do US Citizens Retire in Mexico? It's varied. Generally Americans will avoid boarder towns when thinking of their retirement in Mexico.

If you are a U.S. citizen, you may receive your Social Security payments outside the U.S. as long as you are eligible for them.