Get all the data you need about the real estate market in Mexico City
SUMMARY
Yes. Rents are still rising in Mexico City, and the current increase is strong enough that calling the market flat would be premature.
The cleanest benchmark is Inmuebles24's standardized two-bedroom asking rent: MXN 21,921 per month, up 9.6% in one year and another 3.7% during the first half of 2026.
The more revealing point is that rents are still outrunning inflation. With consumer prices rising around 3.6%, advertised rents increased about 2.7 times faster, leaving real rent growth clearly positive.
This is no longer just a Roma-Condesa-Polanco story. Coyoacán rose 15.5%, Cuauhtémoc 13.7%, Miguel Hidalgo 10.1%, Tlalpan 9.7%, and even cheaper boroughs such as Gustavo A. Madero posted strong increases.
The city is also carrying a large accumulated increase from the post-2021 cycle. The standardized rent benchmark has risen roughly 64% since late 2021, which is why today's slightly slower pace still feels painful to renters.
Mexico City's rent cap does not contradict the 9.6% rise in asking rents. The cap mainly limits annual increases for existing tenants, while a unit returning to the market can be advertised at a much higher current price.
Short-term rentals still add pressure in central areas, but they do not explain the whole market. Active short-term-rental supply appears to have fallen from its World Cup peak, yet long-term asking rents have kept climbing.
The bigger structural problem is supply. Fewer projects are entering the market than several years ago, many new developments are small, approvals can take years, and available apartment inventory has contracted.
Affordability is getting stretched at the same time. The standardized two-bedroom asking rent is close to 60% of average monthly household current income, while recent labor-income data show earnings moving in the opposite direction.
Cheaper boroughs still offer meaningful savings, but they are no longer a safe escape from rent inflation. Moving farther out can cut the monthly bill sharply, yet several lower-cost areas are still posting annual increases near the citywide pace.
A convincing plateau would require more than one soft month. Rent growth would need to stay near inflation for several quarters, slow across multiple boroughs, and be backed by better housing supply and improved affordability. Those conditions are not in place yet.
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Are rents still rising in Mexico City right now?
Yes. Mexico City rents are still rising strongly today, with the latest standardized asking-rent data showing a 9.6% increase in one year.
Inmuebles24's latest Mexico City index puts the average asking rent for a 65-square-meter, two-bedroom apartment at MXN 21,921 per month. That same benchmark rose 3.7% during the first half of 2026, so the increase continued even after the large jumps of previous years.
The recent monthly numbers also keep moving in the same direction. The standardized rent was around MXN 21,600 in February, moved above MXN 21,700 by April and reached MXN 21,921 by June.
General inflation over the annual comparison was about 3.6%, according to INEGI. Rent increased more than twice as fast.
| Measure | Latest figure | Change | What we see |
|---|---|---|---|
| Standard 2-bedroom asking rent | MXN 21,921/month | +9.6% YoY | Strong rent growth continues |
| First-half rent growth | — | +3.7% | Prices kept rising this year |
| General inflation | — | ~+3.6% YoY | Rent rose much faster |
| Increase since late 2021 | — | ~+64% | The rise has lasted several years |
Is Mexico City rent growth finally slowing?
A little. Mexico City rent growth has cooled from parts of the post-pandemic surge, but today's 9.6% annual increase is still far too high to call the market flat.
The longer trend makes that clearer. Inmuebles24 identifies late 2021 as the point when rents began their current climb. Since then, the standardized apartment rent has increased roughly 64%, from about MXN 13,400 to almost MXN 22,000.
That works out to roughly 11% annualized nominal growth over the period. The latest 9.6% pace sits slightly below that longer-run rate, which suggests some moderation.
Go back to mid-2022 and the shift becomes even easier to see. The comparable Inmuebles24 rent was MXN 13,818. A renter looking for a similar apartment now faces a monthly asking price about MXN 8,100 higher, or close to MXN 97,000 more over a full year.
So yes, growth has slowed somewhat. It remains very strong.
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Are Mexico City rents still rising faster than inflation?
Definitely. Mexico City asking rents are currently rising about 2.7 times faster than general consumer prices.
The latest annual figures give us an unusually direct comparison. Inmuebles24 measured rental growth of 9.6%, while INEGI reported inflation around 3.6%.
Once inflation is removed, rents still increased by roughly 5.8% in real terms. During the first half of 2026 alone, Inmuebles24 calculated about 2% real rental growth.
Renters are dealing with more than the ordinary rise in living costs. Housing itself keeps taking a larger bite.
| Indicator | Approx. change | Comparison |
|---|---|---|
| Mexico City asking rents | +9.6% | 2.7× inflation |
| General inflation | +3.6% | Baseline |
| Approx. real annual rent growth | +5.8% | Clearly positive |
| First-half real rent growth | ~+2.0% | Still moving upward |
Are rents rising across Mexico City or mainly in Roma, Condesa and Polanco?
Rent increases now reach well beyond Roma, Condesa and Polanco. The expensive central neighborhoods still stand out, but the broader Mexico City market is moving up with them.
Cuauhtémoc, which includes Roma, Condesa and Juárez, recorded a 13.7% annual increase. Miguel Hidalgo, home to Polanco, rose 10.1%.
Yet Coyoacán climbed even faster at 15.5%. Álvaro Obregón and Tlalpan were both close to 10%, while Azcapotzalco and Gustavo A. Madero rose 8.3%.
Even Venustiano Carranza, where the standardized monthly rent is only around MXN 13,000, recorded a 5.3% increase.
That makes the citywide rise hard to explain purely through wealthy foreigners competing for apartments in three fashionable neighborhoods. Central gentrification remains part of the story, but price pressure has spread into places with very different residents, housing stock and rent levels.
| Area | Standardized rent | Annual change | What stands out |
|---|---|---|---|
| Cuauhtémoc | MXN 29,149 | +13.7% | Expensive and still rising fast |
| Miguel Hidalgo | MXN 27,786 | +10.1% | Polanco area remains under pressure |
| Benito Juárez | MXN 20,486 | +6.9% | Slower, but still positive |
| Álvaro Obregón | MXN 20,016 | +9.7% | Close to citywide pace |
| Coyoacán | MXN 17,306 | +15.5% | Fastest major borough increase |
| Azcapotzalco | MXN 16,259 | +8.3% | Strong increase outside the core |
| Gustavo A. Madero | MXN 13,424 | +8.3% | Cheaper area, similar pressure |
| Venustiano Carranza | MXN 13,021 | +5.3% | Lowest growth here, still rising |
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Which Mexico City neighborhoods are becoming especially expensive?
Hipódromo Condesa remains at the extreme end of Mexico City's rental market, while several surrounding central neighborhoods are also reaching levels far above the city average.
Inmuebles24 currently puts the standardized rent in Hipódromo Condesa around MXN 38,419 a month. That is roughly 75% above the citywide MXN 21,921 benchmark. Juárez and San Rafael also sit near the top of the neighborhood ranking.
The gap becomes striking when we compare that with Pantitlán, one of the cheapest neighborhoods in the same dataset, where the benchmark is around MXN 10,865. A similar standardized apartment can therefore cost more than three times as much depending on where it is located.
Cuauhtémoc as a whole has also changed dramatically. Its comparable borough-level rent was about MXN 15,363 in mid-2022 and is now MXN 29,149, an increase close to 90%.
As seen above, cheaper districts are rising too. Moving farther from Condesa still saves a lot of money, but it no longer guarantees stable rent.
Did Mexico City's rent cap stop rents from rising?
No. Mexico City's rent cap protects existing tenants from large annual increases, while new asking rents are still climbing much faster.
The 2024 reform to Article 2448 D of Mexico City's Civil Code says the annual increase on a residential rent cannot exceed the previous year's inflation.
Mexico's Supreme Court upheld that rule in 2026. The Court also made an important distinction: landlords can still set rental prices when agreeing a lease. The law limits subsequent annual increases.
That explains how the city can have an inflation-linked rent cap while Inmuebles24 simultaneously records 9.6% annual growth in advertised rents.
A tenant staying in the same apartment may therefore see a relatively modest increase. Someone searching for a new apartment today can face a much bigger jump.
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Why can new Mexico City rents rise 9.6% when rent increases are legally capped?
Because Mexico City's legal rent cap applies to the annual increase on an existing lease, while property portals mostly show what landlords are asking from new tenants.
Take an apartment rented for MXN 18,000. If the same tenant stays, the yearly increase should be limited roughly to inflation. If that tenant leaves, a landlord can put the apartment back on the market at a new asking price reflecting current conditions.
Inmuebles24 captures those advertised prices. It does not track the rent of every tenant who quietly renews an existing contract.
This creates a widening difference between staying and moving. Rent control gives incumbent tenants more protection, while households entering the market or changing apartments remain exposed to today's much higher asking prices.
The city's planned digital rental-contract registry could eventually give us a much clearer picture of this gap because authorities would have access to actual contract values instead of relying so heavily on portal advertisements.
| Rental situation | How the price changes | Exposure to market rent | Annual cap applies? |
|---|---|---|---|
| Existing tenant remains | From previous contract | Lower | Yes |
| Tenant leaves | Unit can be re-advertised | High | Previous cap does not set new asking price |
| Newly built apartment | First rent is set | High | No previous rent exists |
| New tenant enters | Negotiates current asking price | High | Cap matters after lease starts |
Are Airbnb and short-term rentals still pushing up Mexico City rents?
Short-term rentals still put pressure on Mexico City housing, especially in central neighborhoods, but today's data make it hard to blame Airbnb for the entire rent increase.
Inside Airbnb counted 31,430 Mexico City listings in its mid-2026 snapshot. Another current dataset from AirDNA, which uses a narrower active-listing methodology across Airbnb, Vrbo and Booking.com, puts active short-term rentals at 26,476.
The difference between those numbers is mostly methodological. What matters is the order of magnitude: tens of thousands of Mexico City units participate in the short-term-rental market.
The concentration is even more relevant. Inside Airbnb data show thousands of listings in Benito Juárez and Coyoacán, while central boroughs such as Cuauhtémoc and Miguel Hidalgo remain major short-term-rental hubs. These are also areas where ordinary rents are among the highest in the city.
There is one fresh complication, however. AirDNA currently estimates active short-term-rental supply is down about 25% year on year. If that decline persists and some units return to long-term rental, it could remove a bit of pressure.
We have not seen that translate into falling long-term asking rents yet. The Inmuebles24 index is still up 9.6%.
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Did the World Cup cause Mexico City's latest rent increase?
The World Cup likely added temporary pressure, but Mexico City's rental boom was already well established years before it.
The strongest evidence is the timeline. Inmuebles24's current rental cycle began around late 2021, and rents have risen roughly 64% since then. The tournament arrived near the end of that climb rather than at the beginning.
Short-term-rental supply did jump around the event. Local analysis using Inside Airbnb data found listings rising from roughly 26,000 late in 2025 to more than 31,000 by the middle of 2026, an increase of around 21%.
That probably made the squeeze worse in tourist-heavy areas, especially where landlords could earn much more from temporary visitors.
More recent AirDNA data are worth watching because active supply has since dropped. If that World Cup spike really was temporary, we should see more apartments return to conventional rental over the coming quarters.
For now, the broader rent market has kept rising anyway.
Is Mexico City building enough housing to bring rents down?
No. Recent construction data still point to a housing market where new supply is struggling to keep up.
A mid-2026 market review by Tinsa and Desarrolladora del Parque found only 72 new residential projects entering the Mexico City market during the first quarter. In 2017 and 2018, the pace was closer to 100 projects per quarter.
The size of projects has shrunk too. Developers told the same review that many current developments contain only 10 to 40 units, while permits for larger projects can take as long as 36 months.
Another recent dataset from 4S Real Estate found about 19,587 apartments available in Mexico City at the end of the third quarter of 2025, down 23% from a year earlier.
Longer-term housing research points in the same direction. One estimate presented by Mexico's construction industry put annual housing need around 77,000 units against only 30,000 to 33,000 actually supplied.
Different sources use different definitions of demand and inventory, so there is no single perfect shortage number. The common result is much clearer: housing production is not catching up fast enough to remove upward price pressure.
| Supply indicator | Recent figure | Comparison | What it suggests |
|---|---|---|---|
| New projects entering market | 72 in Q1 2026 | ~100/quarter in 2017-18 | Fewer projects than before |
| Available apartment inventory | 19,587 | -23% YoY | Buyers face less supply |
| Typical new project size | 10-40 units | Large projects harder to approve | New supply arrives slowly |
| Large-project permitting | Up to 36 months | — | Expansion takes time |
| Estimated annual housing need | ~77,000 units | 30,000-33,000 supplied | Large structural gap |
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Can local incomes keep up with Mexico City rents?
For many households, no. Mexico City asking rents have reached a level that looks increasingly detached from what ordinary local incomes can comfortably support.
INEGI's latest full household-income survey puts average current household income in Mexico City at roughly MXN 110,685 per quarter, or around MXN 36,900 per month.
The current standardized two-bedroom asking rent of MXN 21,921 equals almost 60% of that monthly amount.
We should be careful with that comparison because the income survey includes homeowners and households with very different sizes, while the Inmuebles24 figure describes one specific type of advertised apartment. Still, the gap is large enough to be meaningful.
A standardized three-bedroom apartment now costs around MXN 30,618 a month, which comes close to the entire monthly income of many households.
The latest labor data offer little relief. INEGI reported Mexico City labor income per capita falling 3.1% year on year in the first quarter of 2026. Rent, meanwhile, was still climbing.
| Measure | Approx. level | Rent comparison |
|---|---|---|
| Average household current income | MXN 36,900/month | — |
| Standard 2-bedroom asking rent | MXN 21,921/month | ~59% of average income |
| Standard 3-bedroom asking rent | MXN 30,618/month | ~83% of average income |
| Labor income per capita | -3.1% YoY | Moving opposite to rent |
Are cheaper parts of Mexico City still good alternatives for renters?
Yes, but the savings increasingly come with rising prices of their own. Cheaper Mexico City boroughs remain far below Condesa or Polanco, yet several are posting rent growth close to the city average.
Venustiano Carranza is around MXN 13,021 in the standardized comparison, while Gustavo A. Madero is roughly MXN 13,424 and Tlalpan around MXN 13,607.
Compare that with MXN 29,149 in Cuauhtémoc and the financial incentive to move outward remains huge.
The catch: Gustavo A. Madero rents rose 8.3% in a year and Tlalpan 9.7%. Coyoacán, once an obvious alternative to the most expensive central districts, increased 15.5%.
For many renters, the adjustment is therefore becoming geographic. Paying less often means moving farther from the most desirable central areas rather than finding a neighborhood where rents have stopped rising.
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Could Mexico City's new rental rules finally make rents flatten?
The new rules should slow rent increases for existing tenants, but they are unlikely to flatten citywide asking rents on their own.
Mexico City already caps yearly residential rent increases at inflation, and the Supreme Court has now confirmed that rule. The city is also developing a digital rental-contract registry designed to record contract prices and increases more systematically.
Short-term rentals are facing more oversight as well, with registration requirements for hosts and platforms and broader political pressure to limit the conversion of housing into temporary accommodation in heavily affected areas.
Those policies can reduce some of the sharpest increases and make the market easier to police.
The bigger constraint remains housing supply. Recent construction data still show fewer projects, smaller developments and long approval times. If people keep competing for too few well-located homes, initial asking rents can continue rising even while existing tenants receive stronger legal protection.
What would tell us that Mexico City rents have finally stopped rising?
We should wait for several months of much weaker rent growth before saying Mexico City's rental boom has actually ended.
The clearest test would be Inmuebles24's annual asking-rent growth falling close to general inflation and staying there for several quarters. A couple of flat months would tell us very little after a multi-year increase of roughly 64%.
We would also want the slowdown to spread across the city. If Cuauhtémoc stabilizes but Coyoacán, Tlalpan and Gustavo A. Madero keep rising 8% to 15%, renters are still dealing with the same problem in different places.
Supply should improve at the same time. More long-term rental listings, larger residential projects, shorter approval times or a meaningful return of short-term rentals to conventional housing would all strengthen the case that conditions have changed.
And incomes need to stop losing the race. A sustainable rental market should eventually show rents and household earnings moving at something close to the same speed.
None of those conditions is clearly in place today.
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So, are rents still rising in Mexico City?
Yes. Mexico City rents are still rising strongly, and the latest evidence gives us very little reason to call the market flat yet.
The current Inmuebles24 benchmark is up 9.6% in one year, compared with inflation around 3.6%. Asking rents have climbed roughly 64% since late 2021, and increases now reach well beyond Roma, Condesa and Polanco. Coyoacán rose 15.5%, Cuauhtémoc 13.7%, Miguel Hidalgo 10.1%, Tlalpan 9.7% and Gustavo A. Madero 8.3%.
Some parts of the story are starting to change. Short-term-rental supply appears to have fallen from its World Cup peak, existing tenants have stronger protection against large yearly increases, and policymakers are paying far more attention to rental affordability.
Housing supply is still too tight, though, and new tenants continue to face asking prices that are rising much faster than inflation and local incomes.
Mexico City rents are still going up. The pace looks a little less extreme than at some points in the post-2021 boom, but there is no convincing citywide plateau yet.
OUR METHODOLOGY
This analysis tests whether rents are still rising in Mexico City by separating asking rents from rents paid by tenants who remain in an existing lease. We start with the freshest standardized asking-rent benchmark available, then test whether the same direction holds across inflation, boroughs, household income, housing supply, short-term rentals and rental regulation.
Inmuebles24 is the main market benchmark because it provides a consistent apartment profile through time and comparable figures across boroughs and neighborhoods. We use its citywide index for the headline rent trend, then use the detailed CDMX index report to compare areas without mixing apartment sizes or property types.
We compare asking-rent growth with official INEGI inflation data to distinguish nominal increases from real increases in housing costs. INEGI's ENIGH household-income data and its Mexico City labor-income release are used only as affordability checks; they are not treated as direct rent-to-income ratios for every renter in the city.
For rental regulation, we rely on the Mexico City Official Gazette for the 2024 reform to Article 2448 D and on the Supreme Court's 2026 proceedings for the constitutionality of the inflation-linked limit on annual rent increases. That legal cap is treated as protection for existing leases, not as a cap on the initial asking rent of a newly marketed unit.
Short-term-rental supply is checked with both Inside Airbnb and AirDNA. We keep the datasets separate because their methodologies differ: Inside Airbnb provides listing snapshots and geographic concentration, while AirDNA uses its own active-listing methodology across multiple platforms and is better suited to tracking current supply changes.
For housing supply, we use Tinsa/Accumin market research on project activity and development scale, 4S Real Estate data reported by El Economista on available inventory, and the Mexican Chamber of the Construction Industry for the longer-run comparison between estimated housing need and new supply. We use those sources as converging evidence rather than pretending there is one definitive shortage number.
Key sources used for this analysis include: Inmuebles24's Mexico City rent index, Inmuebles24's detailed CDMX index report, INEGI's National Consumer Price Index, INEGI's ENIGH 2024 Mexico City results, the Mexico City Official Gazette rental reform, the Supreme Court's 2026 proceedings, Inside Airbnb's Mexico City data, AirDNA's Mexico City market overview, Tinsa/Accumin's Q1 2026 residential market report, El Economista on 4S Real Estate inventory data, and the Mexican Chamber of the Construction Industry on housing supply.
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