Authored by the expert who managed and guided the team behind the Uruguay Property Pack
Yes, the analysis of Montevideo's property market is included in our pack
Looking for accurate rent data in Montevideo can be frustrating because most online figures are outdated or based on vague estimates.
We constantly update this blog post with the latest rental market information for Montevideo, so you always have fresh numbers to work with.
Below, you will find current housing prices in Montevideo, broken down by apartment type, neighborhood, and tenant profile.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Montevideo.
Insights
- Montevideo rents in 2026 are growing at around 6% to 8% per year in pesos, which roughly tracks Uruguay's inflation rate and keeps real rent growth modest for tenants.
- A studio apartment in Montevideo costs around UYU 24,000 per month in January 2026, but waterfront buildings in Pocitos can push that above UYU 28,000.
- The official vacancy rate in Montevideo sits near 6%, though prime coastal neighborhoods like Punta Carretas and Buceo often run tighter at 3% to 4%.
- Furnished apartments in Montevideo typically command a 15% to 25% rent premium, mostly driven by expat and corporate relocation demand in Pocitos and Carrasco.
- Properties near the Universidad de la República in Cordón and Parque Rodó rent 20% to 30% faster than the citywide average due to constant student demand.
- Landlords in Montevideo who add garage parking can boost monthly rent by UYU 3,000 to UYU 5,000, making it one of the highest-return amenities.
- February and March are peak rental months in Montevideo, driven by the start of the academic and work year, while December and January see the slowest tenant activity.
- Rent per square meter in Montevideo averages around UYU 620, but premium Rambla-facing apartments can exceed UYU 800 per square meter.
What are typical rents in Montevideo as of 2026?
What's the average monthly rent for a studio in Montevideo as of 2026?
As of early 2026, the average monthly rent for a studio apartment in Montevideo is approximately UYU 24,000, which works out to around $570 USD or €525 EUR at current exchange rates.
Most studio apartments in Montevideo fall within a realistic range of UYU 21,000 to UYU 28,000 per month, or roughly $500 to $670 USD and €460 to €615 EUR, depending on location and building quality.
The main factors that push Montevideo studio rents higher or lower include proximity to the Rambla waterfront, whether the building has a doorman and security, the floor level with elevator access, and overall condition of the unit.
What's the average monthly rent for a 1-bedroom in Montevideo as of 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment in Montevideo is approximately UYU 30,000, which translates to around $715 USD or €655 EUR.
The realistic range for most 1-bedroom apartments in Montevideo runs from UYU 26,000 to UYU 36,000 per month, or about $620 to $860 USD and €570 to €790 EUR.
Neighborhoods like Cordón, Tres Cruces, and La Blanqueada tend to have the most affordable 1-bedroom rents in Montevideo, while Pocitos, Punta Carretas, and Carrasco consistently command the highest prices for this apartment type.
What's the average monthly rent for a 2-bedroom in Montevideo as of 2026?
As of early 2026, the average monthly rent for a 2-bedroom apartment in Montevideo is approximately UYU 41,000, equivalent to around $975 USD or €895 EUR.
Most 2-bedroom apartments in Montevideo rent within a range of UYU 34,000 to UYU 52,000 per month, which works out to $810 to $1,240 USD and €745 to €1,140 EUR depending on the specific property.
For 2-bedroom units, Centro and Aguada offer the most budget-friendly options in Montevideo, while Carrasco, Punta Carretas, and waterfront Pocitos have the most expensive 2-bedroom rentals in the city.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Montevideo.
What's the average rent per square meter in Montevideo as of 2026?
As of early 2026, the average rent per square meter in Montevideo is approximately UYU 620, which equals around $15 USD or €13.50 EUR per square meter per month.
Across different Montevideo neighborhoods, rent per square meter typically ranges from UYU 480 to UYU 850, or about $11 to $20 USD and €10 to €19 EUR, with significant variation by location.
Compared to other major cities in Uruguay, Montevideo commands the highest rent per square meter, running about 30% to 50% above secondary cities like Punta del Este's year-round market or Maldonado.
Properties with Rambla views, modern amenities, high floors with elevators, and recent renovations typically push rent per square meter well above the Montevideo average.
How much have rents changed year-over-year in Montevideo in 2026?
As of early 2026, rents in Montevideo have increased by approximately 6% to 8% year-over-year in Uruguayan pesos, reflecting steady growth that tracks closely with national inflation.
The main factors driving Montevideo rent changes in 2026 include Uruguay's formal rent indexation system (URA and IPC adjustments), stable demand from students and young professionals, and continued expat interest in coastal neighborhoods.
This year's rent growth in Montevideo is consistent with 2025's trend, when official contract data showed mid-single-digit increases and listing markets ran slightly hotter at around 9% in some months.
What's the outlook for rent growth in Montevideo in 2026?
As of early 2026, Montevideo rents are projected to grow at a steady pace of around 5% to 7% over the coming year, roughly matching Uruguay's expected inflation rate.
Key factors likely to influence Montevideo rent growth in 2026 include the strength of household income growth, continued foreign interest in Uruguay's stable economy, and the pace of new apartment construction in high-demand coastal barrios.
Neighborhoods like Pocitos Nuevo, Buceo, and parts of Malvín are expected to see the strongest rent growth in Montevideo, driven by new development and proximity to business districts.
The main risks that could cause Montevideo rent growth to differ from projections include unexpected currency fluctuations, changes in regional migration patterns, or a significant slowdown in Uruguay's broader economy.
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Which neighborhoods rent best in Montevideo as of 2026?
Which neighborhoods have the highest rents in Montevideo as of 2026?
As of early 2026, the three neighborhoods with the highest average rents in Montevideo are Carrasco, Punta Carretas, and Pocitos, where typical apartments range from UYU 45,000 to UYU 70,000 per month, or $1,070 to $1,670 USD and €985 to €1,530 EUR.
These Montevideo neighborhoods command premium rents because they offer coastal access along the Rambla, newer building stock with modern amenities, strong security, and excellent proximity to restaurants, shops, and green spaces.
The typical tenant in these high-rent Montevideo neighborhoods includes upper-middle-class families, corporate executives, diplomats, and expats who prioritize quality of life, safety, and waterfront living.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Montevideo.
Where do young professionals prefer to rent in Montevideo right now?
The top three neighborhoods where young professionals prefer to rent in Montevideo are Cordón, Pocitos, and Parque Rodó, which offer the best mix of affordability, nightlife, and commute convenience.
Young professionals in these Montevideo neighborhoods typically pay between UYU 22,000 and UYU 35,000 per month for studios and 1-bedrooms, or around $525 to $835 USD and €480 to €765 EUR.
These neighborhoods attract young professionals in Montevideo because they offer walkable streets, abundant cafes and restaurants, good public transport connections, co-working spaces, and a vibrant social scene.
By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Montevideo.
Where do families prefer to rent in Montevideo right now?
The top three neighborhoods where families prefer to rent in Montevideo are Malvín, Punta Gorda, and Carrasco, which combine residential calm with good access to the rest of the city.
Families renting 2-3 bedroom apartments in these Montevideo neighborhoods typically pay between UYU 40,000 and UYU 65,000 per month, or around $950 to $1,550 USD and €875 to €1,420 EUR.
These family-friendly Montevideo neighborhoods offer larger apartments, proximity to parks and beaches, quieter streets, and a strong sense of community that appeals to households with children.
Top-rated schools near these Montevideo neighborhoods include British Schools, Uruguayan American School, and Colegio Alemán, along with well-regarded public options in the coastal zone.
Which areas near transit or universities rent faster in Montevideo in 2026?
As of early 2026, the three areas near transit hubs or universities that rent fastest in Montevideo are Tres Cruces, Cordón, and Centro, where properties consistently find tenants quicker than the citywide average.
In these high-demand Montevideo areas, well-priced apartments typically stay listed for only 15 to 25 days, compared to the citywide average of 30 to 40 days.
Properties within walking distance of Montevideo's main bus terminal or the Universidad de la República typically command a rent premium of UYU 2,000 to UYU 4,000 per month, or roughly $50 to $95 USD and €45 to €90 EUR above comparable units farther away.
Which neighborhoods are most popular with expats in Montevideo right now?
The top three neighborhoods most popular with expats in Montevideo are Pocitos, Punta Carretas, and Carrasco, which offer the lifestyle amenities and security that international residents prioritize.
Expats renting in these Montevideo neighborhoods typically pay between UYU 35,000 and UYU 60,000 per month, or around $835 to $1,430 USD and €765 to €1,310 EUR for quality apartments.
These neighborhoods attract expats to Montevideo because they offer waterfront living, modern apartment buildings, English-speaking services, international schools nearby, and a safe environment.
The most represented expat communities in these Montevideo neighborhoods include Argentines, Brazilians, Americans, and Europeans, particularly from Spain and Germany.
And if you are also an expat, you may want to read our exhaustive guide for expats in Montevideo.
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Who rents, and what do tenants want in Montevideo right now?
What tenant profiles dominate rentals in Montevideo?
The top three tenant profiles that dominate the Montevideo rental market are young professionals seeking studios and 1-bedrooms, students needing affordable housing near universities, and small families looking for 2-3 bedroom apartments.
In terms of market share, young professionals represent roughly 35% of Montevideo renters, students account for about 25%, and families make up around 20%, with the remaining 20% split among expats, retirees, and short-term tenants.
Young professionals in Montevideo typically seek modern studios and 1-bedrooms in connected neighborhoods, students look for budget-friendly rooms or small apartments near Cordón, and families search for spacious 2-3 bedrooms in residential coastal areas.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Montevideo.
Do tenants prefer furnished or unfurnished in Montevideo?
In Montevideo, approximately 70% to 75% of long-term tenants prefer unfurnished apartments, while the remaining 25% to 30% seek furnished units, mostly for shorter stays or corporate relocations.
Furnished apartments in Montevideo typically command a rent premium of UYU 4,000 to UYU 8,000 per month, or around $95 to $190 USD and €90 to €175 EUR above unfurnished equivalents.
The tenant profiles that tend to prefer furnished rentals in Montevideo include expats on temporary assignments, corporate relocations, digital nomads, and students from outside the city who need a turnkey solution.
Which amenities increase rent the most in Montevideo?
The top five amenities that increase rent the most in Montevideo are garage or parking space, building security with a doorman, elevator access, outdoor space like a balcony or terrace, and air conditioning or efficient heating.
In Montevideo, a garage space typically adds UYU 3,000 to UYU 5,000 ($70 to $120 USD) per month, building security adds UYU 2,000 to UYU 4,000 ($50 to $95 USD), elevator access adds UYU 1,500 to UYU 3,000 ($35 to $70 USD), a balcony adds UYU 1,500 to UYU 3,000, and good climate control adds UYU 1,000 to UYU 2,500 ($25 to $60 USD).
In our property pack covering the real estate market in Montevideo, we cover what are the best investments a landlord can make.
What renovations get the best ROI for rentals in Montevideo?
The top five renovations that get the best ROI for rental properties in Montevideo are fresh paint and lighting upgrades, kitchen refresh with new hardware and countertops, bathroom fixture updates, humidity and mold remediation, and installing or upgrading air conditioning.
In Montevideo, fresh paint costs around UYU 15,000 to UYU 30,000 ($360 to $715 USD) and can boost rent by UYU 1,500 to UYU 3,000 monthly, a kitchen refresh runs UYU 40,000 to UYU 80,000 ($950 to $1,900 USD) for a UYU 2,000 to UYU 4,000 rent increase, and bathroom updates at UYU 25,000 to UYU 50,000 ($600 to $1,190 USD) typically add UYU 1,500 to UYU 3,000 to monthly rent.
Renovations with poor ROI that Montevideo landlords should avoid include luxury finishes that tenants do not value enough to pay for, over-customized designs, and major structural changes that do not address the apartment's core livability issues.
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How strong is rental demand in Montevideo as of 2026?
What's the vacancy rate for rentals in Montevideo as of 2026?
As of early 2026, the estimated vacancy rate for rental properties in Montevideo is approximately 6%, indicating a relatively tight market with steady tenant demand.
Across different Montevideo neighborhoods, vacancy rates range from around 3% to 4% in prime coastal areas like Pocitos and Punta Carretas, up to 8% to 10% in less central neighborhoods like Cerro or La Teja.
The current Montevideo vacancy rate of around 6% is consistent with the city's historical average, suggesting a balanced market that has remained stable rather than tightening or loosening significantly.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Montevideo.
How many days do rentals stay listed in Montevideo as of 2026?
As of early 2026, rentals in Montevideo stay listed for an average of 30 to 35 days before finding a tenant, though this varies significantly by property type and location.
Across different Montevideo neighborhoods and property types, days on market ranges from 15 to 25 days for well-priced apartments in high-demand areas like Pocitos and Cordón, up to 45 to 70 days for overpriced or compromised units in slower markets.
The current days-on-market figure for Montevideo rentals is roughly similar to one year ago, with no major shift in how quickly properties are being absorbed by tenants.
Which months have peak tenant demand in Montevideo?
The peak months for tenant demand in Montevideo are February and March, when the academic and work year begins and many people relocate or start new leases.
Seasonal demand patterns in Montevideo are driven by the university calendar, with students arriving before classes start in March, and by employment cycles that see many job changes and corporate relocations at the beginning of the year.
The months with the lowest tenant demand in Montevideo are December and January, when summer holidays slow down the rental market and most people delay moving decisions until after the vacation period.
Don't buy the wrong property, in the wrong area of Montevideo
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What will my monthly costs be in Montevideo as of 2026?
What property taxes should landlords expect in Montevideo as of 2026?
As of early 2026, landlords in Montevideo should expect to pay combined annual property taxes of roughly 0.3% to 1.0% of their property's assessed value, which for a typical apartment might range from UYU 15,000 to UYU 60,000 per year, or $360 to $1,430 USD and €330 to €1,310 EUR.
Across Montevideo, annual property taxes can range from UYU 10,000 to over UYU 100,000, or $240 to $2,380 USD and €220 to €2,185 EUR, depending heavily on the property's fiscal valuation and which tax bracket it falls into.
Property taxes in Montevideo are calculated based on the Contribución Inmobiliaria, which uses the property's assessed cadastral value and applies bracketed rates, plus the Impuesto de Primaria administered by DGI for school funding.
Please note that, in our property pack covering the real estate market in Montevideo, we cover what exemptions or deductions may be available to reduce property taxes for landlords.
What utilities do landlords often pay in Montevideo right now?
In Montevideo, landlords most commonly pay property taxes and certain building-related charges, while tenants typically cover electricity, water, and internet in most long-term lease arrangements.
When landlords do cover utilities in Montevideo, monthly costs typically run around UYU 2,500 to UYU 5,000 ($60 to $120 USD) for electricity (UTE) and UYU 800 to UYU 1,500 ($20 to $35 USD) for water and sanitation (OSE) for a standard apartment.
The common practice in Montevideo is to negotiate utility responsibility in the lease contract, but the default is that tenants pay for consumption-based utilities like electricity and water, while owners handle property taxes and any owner-side building obligations.
How is rental income taxed in Montevideo as of 2026?
As of early 2026, rental income in Montevideo is generally taxed under Uruguay's IRPF (personal income tax) framework for resident individuals, with rates that can reach up to 12% on net rental income after allowed deductions.
Landlords in Montevideo can typically deduct expenses like property taxes, condominium fees, and certain maintenance costs from their gross rental income before calculating the tax owed.
A common tax mistake that Montevideo landlords should avoid is failing to properly register lease contracts with guarantee systems, which can create compliance issues and complicate the annual filing process with DGI.
We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in Montevideo.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Uruguay 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 Montevideo, 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 it's authoritative | How we used it |
|---|---|---|
| INE - IAI Mercado de Alquileres | This is Uruguay's official statistics office and its dedicated rental-market release series. | We used it to anchor the official rent level and rental-market activity for Montevideo. We then translated those contract-based averages into clear, renter-friendly figures. |
| INE - IAI Alquileres October 2025 | This is a primary INE technical bulletin with defined methodology and monthly indicators. | We used the reported Montevideo average rent level as the official baseline closest to January 2026. We also used it to calibrate our 2026 estimates against measured contract reality. |
| INE - IAI Alquileres June 2025 | This is another INE primary release that explicitly reports monthly and 12-month changes. | We used it to anchor how fast rents were moving in the official contract universe. We then triangulated it with listing-market growth rates to estimate 2026 year-over-year rent change. |
| INE - IPC Dashboard | This is the official inflation dashboard used to track price changes in Uruguay. | We used it as the macro speed limit for rent growth, since rents usually track inflation over time. We used it to check that our January 2026 rent levels imply a plausible trend. |
| MEF - Indicadores | This is a government source that compiles the official monthly series used for rent indexation. | We used it to understand the indexation framework Uruguay uses in practice. We used it to project late-2025 rent levels forward into January 2026 estimates. |
| IMPO - UR/URA Values | IMPO is Uruguay's official legal and official-values publisher, making it a primary reference for indexed units. | We used it to validate the official indexed units referenced in rent adjustments. We used it to support our explanation of how lease updates typically work in Montevideo. |
| Suarez Figari Inmobiliaria | This is an established local real-estate firm publishing a quantified market snapshot with clear rent figures by unit type. | We used it to translate the market into exact unit types renters ask about like studios, 1-bedrooms, and 2-bedrooms. We used it as the listing-market layer, then adjusted forward to January 2026. |
| InfoCasas - Rentabilidad Report | InfoCasas is a major Uruguayan property portal and publishes structured, neighborhood-level research. | We used it to identify which barrios behave as high-rent versus yield-driven areas. We used it to ground our neighborhood examples in a real, transparent dataset. |
| Intendencia de Montevideo - Contribución Inmobiliaria | This is the Montevideo city government's own documentation for property tax calculation. | We used it to explain what landlords should budget for the main municipal property tax. We used it to keep the Montevideo tax logic specific and accurate. |
| DGI - Rentas Inmobiliarias | This is the tax authority's official guidance hub for rental and property income topics. | We used it to describe plainly the tax compliance flow and what documents matter for rental income. We used it to keep the taxation section accurate and not based on secondary explainers. |
| DGI - Impuesto de Primaria | This is the tax authority's official page for the Primaria school property tax. | We used it to include the often forgotten property-related tax in Montevideo budgeting. We used it to keep the landlord cost checklist complete for Uruguay specifically. |
| UTE Tariff Decree | This is an official tariff approval document for the national electricity utility. | We used it to frame utility-cost expectations without relying on crowdsourced cost-of-living sites. We used it only for the who-usually-pays-what discussion. |
| OSE Tariff Decree 2025 | This is the official tariff decree document from the national water and sanitation provider. | We used it to support the utilities section since water and sanitation are a real line item in Uruguay. We used it to keep the monthly costs part grounded in official tariff reality. |
| BCU - FX Quotations | This is the central bank, so it's the cleanest source for exchange-rate reference points. | We used it to translate rent ranges into approximate USD and EUR figures for context. We kept all core numbers in UYU because that's how leases are priced locally. |
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