Mexico vs US comparison: Cost of Living, Prices, Salary (2024)

FAQs

What is a good salary in Mexico? ›

According to data from the World Bank, the average annual salary in Mexico in 2020 was approximately USD 17,000. However, it's important to note that this figure can vary widely depending on factors such as industry, location, education level, and experience.

Living in Mexico on $500 a month – is it possible? Believe it or not, it is possible to live on $500 a month in Mexico. But the real question is, “Do you really want to do that?” The lifestyle with that budget won't suit most people, and you might not survive long if you're living that frugally.

Living on $1000 per month in Cancun, Mexico could be challenging but feasible. It might cover basic expenses like rent (if you share accommodation), food, transportation, and some utilities, but it'd require a frugal lifestyle and careful budgeting. Costs vary, so finding affordable options is key.

It's a good amount of money. I always exchange $200 for MxN whenever I go to Mexico for a week. It's enough for me to eat at restaurants and buy souvenir trinkets, but this was before COVID.

How much does the average American make a year? According to the U.S. Bureau of Labor, the average U.S. annual salary in Q4 of 2023 was $59,384. This is up 5.4% from the same time period in 2022 when the average American was making $56,316 per year.

Key Takeaways. The cost of living in Mexico is 45.7% lower than in the U.S. You can thus get by on $600 to $2,000 a month. From rent to groceries, utilities to an internet connection, and dining out to transportation, everything is more affordable in Mexico compared to the U.S.

San Miguel de Allende, Mexico: 28 years

Accounting for inflation, $1 million could last 28 years here.

In America, a typical retiree spends $4,345 on average, whereas the cost of living in Mexico for a single person can vary between $600 to $2,000 a month. Many expats report living comfortably in many areas of Mexico for $1,500 a month as well. The country can be pretty easy to live in.

The median rent in Mexico is ~$2,000MXN, or roughly $100USD monthly. The average rent in Mexico is ~$3,000MXN a month, or $150USD. Mexico has a home ownership rate of 80%, the highest in Latin America and one of the highest in the world.

The city in Mexico considered the safest with the lowest crime rate is Merida, located in Yucatan. This is also one of the most affordable cities in Mexico, making it a popular destination for retirees and expats. Merida's low crime rate makes it an excellent choice for visiting and living in.

What is the average salary in Mexico? ›

What is the average salary in Mexico? The average salary in Mexico is around $350,000 pesos yearly. When converted to USD, this is around $17,000 USD yearly.

The cheapest countries to live in are Pakistan, Egypt, Nepal, Bhutan, and Burundi. The cost of living alone should not be the decisive factor for those hoping to move to a more affordable place. Some of the most affordable countries in the world are considered to be also the most dangerous to live in.

A two-bedroom house in Mexico City can range anywhere from $100,000 to $500,000, while a similar property in Tulum may cost upwards of $1 million. In Cancun, a two-bedroom home can range from $200,000 to $1,100,000, depending on the location and amenities.

It's up to you how much you tip, but the recommended amount in Mexico is between 10% – 20% (15% is a good standard in tourist areas) of the bill or ticket price.

50K US would be more or less the income of a mid class family in Mexico. (around 450,000 pesos a year). So, consider that. For a single person, with only a few luxuries now and then, living in a normal mid level neighborhood, that would be more than enough.

How much does the “upper class” earn in Mexico? The study considered “upper-class” people living in a household with an average income above 77 thousand pesos. That is the total income of all members of a family.

What Is A Middle-Class Income in Mexico? On average, families in Mexico's middle class earn between 10,000 and 25,000 pesos a month. Based on the current exchange rate, this range translates to USD 500 to USD 1,250 monthly.

50K US would be more or less the income of a mid class family in Mexico. (around 450,000 pesos a year). So, consider that. For a single person, with only a few luxuries now and then, living in a normal mid level neighborhood, that would be more than enough.