A home, condo or apartment that would be acceptable to an American or Canadian for what they would consider average middle class living can run the gamut between US $8,000 and $50,000 for a brand new unit, be it an apartment, condo, or residential.
If you’re in Mexico City, it might cost you $50,000 or $60,000 for a one-bedroom house. But that same unit in Merida might run you $15,000.
I decided to buy in my neighborhood in Merida because of many, many reasons, including that it’s a new suburb, there are many parks and sidewalks for my 4 year old daughter, etc. This is considered a middle or upper middle class neighborhood. A brand new 2-bedroom is 575,000 pesos (about $36,000). A 3-bedroom on 2 floors with 2-bathroom is 780,000 pesos (about $49,000). You would compare it to a villa or townhome that you can find in many new developments in Canada and US.
(Hundido Park, El Parque Hundido in Mérida, Mexico, pictured.)