How much are the rents in Arequipa right now? (2026)

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A team specialized in real estate investing in LATAM countries

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Arequipa. If you’d like to learn more about us, you can check our presentation page.

What are typical rents in Arequipa as of 2026?

What's the average monthly rent for a studio in Arequipa as of 2026?

As of 2026, the average monthly rent for a studio in Arequipa is about S/1,100, which is roughly $300 or €275.

For most studio apartments in Arequipa in 2026, a realistic rent range is S/750 to S/1,600 per month, or about $200 to $430 and €190 to €400.

This wide range exists because a basic studio in Paucarpata, Miraflores or José Luis Bustamante y Rivero costs much less than a furnished mini-department in Cayma, Yanahuara, Umacollo or Vallecito.

What's the average monthly rent for a 1-bedroom in Arequipa as of 2026?

As of 2026, the average monthly rent for a 1-bedroom apartment in Arequipa is about S/1,650, which is roughly $445 or €410.

Most 1-bedroom apartments in Arequipa rent for S/1,200 to S/2,300 per month, or about $325 to $620 and €300 to €575.

Cheaper 1-bedroom rents are more common in Paucarpata, Miraflores and José Luis Bustamante y Rivero, while the highest 1-bedroom rents are usually in Cayma, Yanahuara, Umacollo and Vallecito.

What's the average monthly rent for a 2-bedroom in Arequipa as of 2026?

As of 2026, the average monthly rent for a 2-bedroom apartment in Arequipa is about S/2,050, which is roughly $555 or €510.

Most 2-bedroom apartments in Arequipa rent for S/1,500 to S/2,700 per month, or about $405 to $730 and €375 to €675.

The cheapest 2-bedroom rents are usually found in older or less central areas like Paucarpata, Miraflores and parts of José Luis Bustamante y Rivero, while the most expensive 2-bedroom rents are usually in Cayma, Yanahuara, Vallecito and premium parts of Cerro Colorado.

By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Arequipa.

What's the average rent per square meter in Arequipa as of 2026?

As of 2026, the average rent per square meter in Arequipa is about S/26 per m² per month, which is roughly $7 or €6.50 per m².

Across Arequipa neighborhoods, most apartments fall between S/18 and S/40 per m² per month, or about $5 to $11 and €4.50 to €10 per m².

Compared with Lima, Arequipa rent per square meter is usually lower, but good areas like Cayma, Yanahuara and Vallecito can still feel expensive by southern Peru standards.

Rent per square meter in Arequipa usually rises above average when the apartment is modern, furnished, secure, bright, close to Avenida Ejército, or located near clinics, universities and good restaurants.

How much have rents changed year-over-year in Arequipa in 2026?

As of 2026, average residential rents in Arequipa are up by about 6% year over year.

Arequipa rents are rising because formal jobs have grown, modern rental supply is limited in the best districts, and tenants keep paying more for security, parking and better locations.

This 2026 rent increase looks a little stronger than the previous year's trend because inflation stayed visible and demand improved in areas linked to work, universities and medical services.

What's the outlook for rent growth in Arequipa in 2026?

As of 2026, the most likely rent-growth range for Arequipa is about 5% to 8% for the full year.

The main drivers are formal employment, household income, inflation, limited modern apartment supply and demand from students, professionals, families and temporary workers.

The strongest rent growth in Arequipa is likely in Cayma, Yanahuara, Umacollo, Vallecito, Challapampa and the better parts of Cerro Colorado.

The main risk is that rent growth could slow if local employment weakens, if many new apartments arrive at once, or if tenants resist higher asking rents.

Which neighborhoods rent best in Arequipa as of 2026?

Which neighborhoods have the highest rents in Arequipa as of 2026?

As of 2026, the top three high-rent areas in Arequipa are Cayma, Yanahuara and Vallecito, where good apartments often rent for about S/2,200 to S/2,700 per month, or around $595 to $730 and €550 to €675.

These Arequipa neighborhoods command premium rents because tenants pay more for safety, views, cleaner streets, better buildings, parking, cafés, clinics and fast access to Avenida Ejército.

The typical tenants in these high-rent Arequipa neighborhoods are executives, medical professionals, mining-linked workers, expats, upper-middle-income families and couples who want a safe and comfortable lifestyle.

By the way, we’ve written a blog article detailing Sources and methodology: we compared neighborhood rents on Adondevivir, Properati and Nestoria. We separated standard apartments from large luxury homes. We also used our own neighborhood quality checks for Arequipa.

Where do young professionals prefer to rent in Arequipa right now?

Young professionals in Arequipa usually prefer Umacollo, Yanahuara and Cayma near Avenida Ejército, with Vallecito and central Cercado also popular for shorter commutes.

In these Arequipa neighborhoods, young professionals commonly pay S/1,400 to S/2,300 per month, or about $380 to $620 and €350 to €575.

Young professionals choose these areas because they want cafés, gyms, clinics, coworking-style buildings, safe evening mobility, good internet and quick access to work or university areas.

By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Arequipa.

Where do families prefer to rent in Arequipa right now?

Families in Arequipa usually prefer Cayma, Sachaca and Cerro Colorado, with Yanahuara and José Luis Bustamante y Rivero also strong choices for 2-bedroom and 3-bedroom homes.

For family-sized apartments in these Arequipa neighborhoods, typical monthly rent is S/1,800 to S/3,200, or about $485 to $865 and €450 to €800.

Families like these areas because Arequipa families usually want parking, security, quieter streets, schools, parks, natural light and enough space for children.

Good education options near these family areas include Colegio Prescott near Cayma, Max Uhle near Cerro Colorado, Lord Byron near Sachaca and several private schools around Yanahuara and José Luis Bustamante y Rivero.

Which areas near transit or universities rent faster in Arequipa in 2026?

As of 2026, the fastest-renting areas near universities and main corridors in Arequipa are Umacollo, Yanahuara and Cercado, especially around UNSA activity and central service jobs.

Good apartments in these high-demand Arequipa areas often stay listed for about 10 to 25 days when the asking rent is realistic.

Being close to a university, clinic or main avenue in Arequipa can add a rent premium of roughly S/150 to S/400 per month, or about $40 to $110 and €40 to €100.

Which neighborhoods are most popular with expats in Arequipa right now?

Expats in Arequipa most often choose Yanahuara, Cayma and Vallecito, with Umacollo and Cercado also popular for people who want walkability and colonial character.

In these expat-friendly Arequipa neighborhoods, typical monthly rent is S/1,600 to S/3,000, or about $430 to $810 and €400 to €750.

Expats like these parts of Arequipa because they offer furnished apartments, views of the volcanoes, cafés, clinics, Spanish schools, safer streets and easy access to the historic center.

The most visible foreign renter groups in Arequipa tend to be North Americans, Europeans and Latin American professionals or students, although local Peruvian tenants still make up most of the market.

And if you are also an expat, you may want to read our Sources and methodology: we used MINCETUR PERTUR Arequipa, MINCETUR tourism reports and furnished listings on Nestoria. We treated expat demand as a premium niche, not the whole market. We also used our own checks on furnished-rental clusters.

Who rents, and what do tenants want in Arequipa right now?

What tenant profiles dominate rentals in Arequipa?

The top tenant profiles in Arequipa are young professionals, small families and students or temporary workers linked to universities, healthcare, services and mining-related activity.

A practical estimate is that young professionals represent about 35% of the Arequipa rental market, families about 30%, and students or temporary workers about 20%, with expats and executives making up a smaller premium segment.

Young professionals usually seek studios or 1-bedroom apartments, families look for 2-bedroom or 3-bedroom homes, and students or temporary workers often prefer furnished studios, shared units or compact 1-bedroom apartments.

If you want to optimize your cashflow, you can read our Sources and methodology: we used MTPE payroll data, BCRP Arequipa reports and rental listings from Adondevivir. We mapped tenant profiles to unit sizes and neighborhoods. We also used our own tenant-demand estimates for Arequipa.

Do tenants prefer furnished or unfurnished in Arequipa?

In Arequipa, about 65% to 75% of long-term tenants prefer unfurnished or semi-furnished rentals, while about 25% to 35% prefer furnished rentals.

A furnished apartment in Arequipa can usually rent for S/250 to S/500 more per month than a similar unfurnished unit, or about $70 to $135 and €60 to €125 more.

Furnished rentals in Arequipa work best for students, young professionals, temporary workers, expats and people staying near Cayma, Yanahuara, Umacollo, Vallecito or Cercado.

Which amenities increase rent the most in Arequipa?

The five amenities that increase rent the most in Arequipa are parking, 24/7 security, elevator access, full furnishing and a modern kitchen with reliable hot water.

Parking can add S/150 to S/300 per month, security S/100 to S/250, elevator access S/100 to S/200, full furnishing S/250 to S/500, and a modern kitchen with hot water S/150 to S/350, which is about $25 to $135 or €25 to €125 depending on the amenity.

In our property pack covering the real estate market in Arequipa, we cover what are the best investments a landlord can make.

What renovations get the best ROI for rentals in Arequipa?

The best rental renovations in Arequipa are repainting, better lighting, kitchen cabinet upgrades, bathroom refreshes and reliable hot-water systems.

Simple upgrades can cost about S/800 to S/8,000, or $215 to $2,160 and €200 to €2,000, while each strong upgrade can add roughly S/100 to S/500 per month if the apartment is in a good Arequipa location.

Landlords in Arequipa should avoid over-personalized luxury décor, expensive imported finishes and major layout changes in weak locations because tenants usually pay more for comfort, safety and location than for showy design.

How strong is rental demand in Arequipa as of 2026?

What's the vacancy rate for rentals in Arequipa as of 2026?

As of 2026, a realistic vacancy rate for well-located rental apartments in Arequipa is about 3% to 5%.

In the best areas of Arequipa, vacancy can be close to 3%, while older, poorly located or overpriced apartments can face vacancy closer to 6% to 9%.

Compared with a normal historical market, Arequipa vacancy in 2026 looks a little tight for modern apartments because demand is solid and good rental stock is limited in premium districts.

Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Arequipa.

How many days do rentals stay listed in Arequipa as of 2026?

As of 2026, a correctly priced rental apartment in Arequipa usually stays listed for about 20 to 35 days.

Small furnished units in Cayma, Yanahuara and Umacollo can rent in 10 to 25 days, while large or overpriced units can remain listed for 45 to 75 days.

Compared with one year ago, days on market in Arequipa look slightly shorter for good apartments because demand has improved and tenants compete for the best-located units.

Which months have peak tenant demand in Arequipa?

The peak tenant-demand months in Arequipa are usually January, February, March, July and August.

Demand rises in those months because students move before the academic year, families relocate before school starts, workers change jobs, and furnished rentals benefit from temporary stays.

The slower months for Arequipa rentals are usually May, June, October and November, when fewer families and students are actively moving.

What will my monthly costs be in Arequipa as of 2026?

What property taxes should landlords expect in Arequipa as of 2026?

As of 2026, many apartment landlords in Arequipa should expect annual property tax of roughly S/300 to S/1,500, or about $80 to $405 and €75 to €375, depending on the municipal value of the property.

For smaller or lower-valued apartments, annual property tax in Arequipa may be closer to S/150 to S/500, while larger or better-located units can move toward S/1,500 to S/3,000, or about $405 to $810 and €375 to €750.

Property tax in Arequipa is based on the municipal self-assessed value, called autovalúo, and the rate rises by value bands under Peru’s municipal tax rules.

Please note that, in our property pack covering the real estate market in Arequipa, we cover what exemptions or deductions may be available to reduce property taxes for landlords.

What utilities do landlords often pay in Arequipa right now?

In Arequipa, landlords most commonly pay or manage building maintenance fees, municipal arbitrios, structural repairs and sometimes water when a building has a shared meter.

Typical monthly landlord-paid costs can be S/80 to S/250 for building maintenance, S/20 to S/80 for municipal service charges, and S/40 to S/120 for shared water, or about $10 to $70 and €10 to €60 depending on the item.

The common Arequipa practice is that tenants pay electricity, internet, gas and private water use, while landlords cover ownership costs and repairs unless the rental contract says otherwise.

How is rental income taxed in Arequipa as of 2026?

As of 2026, individual landlords in Arequipa generally pay Peru’s first-category rental income tax at 5% of gross rent.

For this first-category rental regime, the tax is simple because landlords generally apply the 5% tax to gross rent instead of deducting normal expenses one by one.

Common mistakes in Arequipa include forgetting monthly SUNAT payments, using the municipal tax value as if it were the rent value, not documenting cash rent, and ignoring arbitrios when setting net yield expectations.

We cover these mistakes, among others, in our Sources and methodology: we used SUNAT first-category rental tax guidance, MEF municipal tax rules and Arequipa municipal tax pages. We applied national tax rules to local Arequipa rental examples. We also used our own landlord net-yield framework.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Peru versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.

What sources have we used to write this blog article?

Whether it’s in our blog articles or the market analyses included in our property pack about Arequipa, we always rely on the strongest methodology we can … and we don’t throw out numbers at random.

We also aim to be fully transparent, so below we’ve listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.

Source	Why we trust it	How we used it
INEI Arequipa Compendio Estadístico 2025	INEI is Peru’s official statistics agency, so it is the strongest source for local demographic and housing context.	We used it to understand Arequipa’s population and housing background. We treated it as a demand-side source, not as a direct rent-price source.
INEI Informes de Precios e IPC	INEI publishes Peru’s official inflation data.	We used it to compare rent pressure with local price inflation. We did not treat CPI as a bedroom-level rent index.
INEI Informe de Precios Nº 5, Mayo 2026	This official INEI bulletin gives fresh price data before June 2026.	We used it to anchor Arequipa’s 2026 inflation environment. We used it as a floor for rent pressure, not as a direct rental statistic.
BCRP Información Regional Arequipa	BCRP is Peru’s central bank and publishes trusted regional economic reports.	We used it to understand Arequipa’s economic cycle. We cross-checked it with employment and listing evidence.
BCRP Reporte de Inflación	BCRP is the official source for Peru’s inflation outlook and monetary policy context.	We used it to frame the 2026 macro outlook. We linked rent growth to inflation, wages and financing conditions.
MTPE Planillas Electrónicas	MTPE is Peru’s labor ministry, so it is a key source for formal employment trends.	We used it to assess formal job momentum in Arequipa. We treated employment as a major driver of tenant demand.
Gobierno Regional de Arequipa employment note	This official regional government communication cites local labor data.	We used it to confirm that Arequipa added almost 13,000 formal jobs in 2025. We used that as support for solid 2026 rental demand.
Municipalidad Provincial de Arequipa Tributos Municipales	This is the local municipal source for Arequipa tax information.	We used it for predial and arbitrios context. We kept estimates practical because exact charges vary by district and property.
MEF TUO Ley de Tributación Municipal	MEF hosts Peru’s municipal taxation law.	We used it for the national property-tax framework. We checked local obligations against the Arequipa municipal page.
SUNAT Renta de Primera Categoría	SUNAT is Peru’s tax authority.	We used it for rental-income tax rules. We applied the 5% of gross rent rule to simple landlord examples.
MINCETUR PERTUR Arequipa al 2026	MINCETUR is Peru’s tourism ministry and publishes official regional tourism planning data.	We used it to understand visitor and short-stay pressure in Arequipa. We linked it mainly to furnished units in central and premium areas.
MINCETUR Reporte Regional de Turismo 2025 Arequipa	This is an official tourism dataset for Arequipa.	We used it to cross-check demand in visitor-oriented zones. We treated tourism as a secondary driver, not the main rental market.
Adondevivir Arequipa rentals	Adondevivir is one of Peru’s main real estate listing portals.	We used it to estimate current asking rents and rent per square meter. We removed obvious luxury, commercial and duplicate listings before forming estimates.
Properati Arequipa rentals	Properati is a recognized property portal and often shows dated listings.	We used it to cross-check asking rents and days since publication. We used dated listings to estimate how quickly good apartments rent.
LaEncontré Arequipa rentals	LaEncontré aggregates active rental listings with area, location and bedroom information.	We used it as a second private-sector rent benchmark. We found it useful for low-to-mid-market evidence outside premium Cayma and Yanahuara.
Nestoria Arequipa rentals	Nestoria aggregates listings across portals, which helps identify recurring rent patterns.	We used it to check whether premium furnished listings were real patterns or outliers. We used it carefully because aggregators can repeat the same listing.