Are rents still rising in Buenos Aires?

How much did Buenos Aires rents rise over the last year?

Close to 29% in pesos. The latest asking-rent data still show a monthly increase, but a smaller one than earlier in the year.

Zonaprop's CABA rental index puts the average two-room apartment (50 m², one bedroom) at AR$898,154 per month in September 2026, about USD 580, after a 1.3% monthly increase. Over twelve months, the same benchmark has risen 28.7%. A three-room apartment (70 m²) averages AR$1,214,267 (USD 785). The official Buenos Aires statistics institute, IDECBA, found a similar pattern for used apartments in Q2 2026: asking rents were 32.0% higher for one-room units, 31.0% higher for two-room units and 34.8% higher for three-room units than a year earlier.

So tenants searching now still see higher sticker prices. There has been no broad nominal rent decline.

One caveat: Zonaprop and IDECBA track advertised rents, not signed contracts. With plenty of listings, some apartments rent below their asking price. That moves the exact level, not the direction, because several independent datasets show similar increases.

Buenos Aires rental benchmark	Asking rent per month	Annual increase	Source
1-room used apartment (Q2 2026)	AR$565,658	+32.0%	IDECBA
2-room used apartment (Q2 2026)	AR$764,485	+31.0%	IDECBA
3-room used apartment (Q2 2026)	AR$1,174,304	+34.8%	IDECBA
2-room benchmark, 50 m² (Sept 2026)	AR$898,154	+28.7%	Zonaprop
3-room benchmark, 70 m² (Sept 2026)	AR$1,214,267	—	Zonaprop

Are Buenos Aires rents actually getting more expensive after inflation?

No. Once you adjust for inflation, rents are flat to slightly down.

IDECBA's Q2 2026 study found average annual rent growth of 32.6% for used apartments, against 32.7% Buenos Aires consumer inflation over the comparable period. A gap of one tenth of a point.

Zonaprop's newer data go further. Its two-room rent rose 20.8% from January to September 2026, while national inflation added up to about 23.6% over the same months. Over twelve months the gap is wider: +28.7% for rents against +33.4% for prices (INDEC, September 2026). In real terms, that is a fall of roughly 2% this year and about 3.5% over a year.

That changes how a 29% rent increase should be read in Argentina. A landlord asking AR$898,000 now instead of about AR$698,000 a year ago has raised the rent a lot in pesos. But the general price level moved even more, so the apartment has actually become a bit cheaper.

Has the Buenos Aires rent boom finally slowed down?

Yes. Rent inflation has fallen hard from the pace of the most distorted years.

Zonaprop's historical series shows rents rising about 98% in 2022 and 260% in 2023, faster than Argentina's roughly 212% inflation that year. Then the pattern flipped: rents rose around 64% in 2024 while inflation was about 118%.

The slowdown has continued in 2026. Zonaprop measured annual rent growth of 34.0% in April, 32.5% in May, 30.7% in July and 28.7% in September. September's 1.3% monthly rise was the smallest of the year.

IDECBA saw the same cooling in smaller apartments: annual growth for one- and two-room units slowed by 2.7 percentage points between Q1 and Q2 2026. Three-room apartments moved the other way, which we come back to below.

Buenos Aires has gone from triple-digit rent inflation to under 30% a year. Rents still reprice every month, but the acceleration is over.

Period	Zonaprop rent increase	Inflation comparison
2022	≈98%	≈95%
2023	≈260%	≈212%
2024	≈64%	≈118%
April 2026, annual rate	34.0%	Far below the old peak
May 2026, annual rate	32.5%	Lowest since late 2019 at that point
July 2026, annual rate	30.7%	Slowdown continuing
September 2026, annual rate	28.7%	Below 33.4% inflation

Why did Buenos Aires rents cool down so much?

Because thousands of apartments came back onto the long-term rental market after Argentina scrapped its rent-control law.

DNU 70/2023 gave landlords and tenants freedom over lease length, currency and how rents are adjusted. Under the old law, many owners had pulled their apartments, sold them or switched them to other uses.

The response was large. A government assessment based on Mercado Libre listings found apartment supply in the Buenos Aires metro area 90.3% higher one month after the reform than just before it, and 211.9% higher six months later. Over that period, real asking rents per square metre fell 26.6%.

One decree does not explain every point. Argentina was also going through an inflation shock, recession, a devaluation and a broad economic adjustment at the same time.

But the supply stayed. Reporte Inmobiliario says traditional rental inventory has remained around ten times its level before the old restrictions were lifted, and Zonaprop's count was 3.6 times its February 2023 low in September 2026.

Is Buenos Aires running out of rental apartments again?

No. There is an unusually large pool of apartments for long-term rent, especially studios and one-bedroom units.

IDECBA's Q2 2026 study found that peso rental listings jumped almost 30% from the previous quarter and finished 9% above the previous record set in Q3 2025, the highest level in its series.

Reporte Inmobiliario's May 2026 survey counted 6,661 active listings for used, unfurnished one- to four-room apartments rented in pesos, against 5,599 in February: about 19% more in three months. And Zonaprop's rental listings grew another 6.6% in September 2026 alone.

These sources use different methods, so their counts should not be mixed into one index. But they all point the same way.

That matters because the earlier rent crisis was a scarcity crisis. When tenants had few units to choose from, owners could push prices hard. Today an overpriced studio competes with many alternatives on the same portals.

Rental-supply measure	Earlier level	Latest level or change	What we learn
IDECBA peso listings, Q2 2026 vs Q1 2026	—	≈+30%	Supply expanded sharply
IDECBA vs previous historical peak	Previous record = Q3 2025	+9%	New series high
Reporte Inmobiliario sample, February 2026	5,599 listings	—	Already large inventory
Reporte Inmobiliario sample, May 2026	—	6,661 listings	≈19% more than February
Reporte Inmobiliario vs pre-reform era	1× baseline	≈10×	Big structural change
Zonaprop listings, September 2026	February 2023 low = 1×	3.6× (+6.6% in the month)	Still growing

Are small Buenos Aires apartments getting cheaper than family apartments?

Relatively, yes. Studios and one-bedroom apartments face far more competition, while larger rentals show stronger price pressure.

IDECBA's Q2 2026 numbers make the split clear. One-room rents rose 32.0% over twelve months and two-room rents 31.0%. Three-room apartments rose 34.8%.

The direction differs too. One- and two-room annual growth slowed by 2.7 percentage points from the previous quarter, while three-room growth sped up by 2.5 points.

Supply explains it. One-room apartments are 33.3% of peso listings and two-room apartments another 41.2%: together, 74.5% of available peso rentals have at most one bedroom. Three-room properties are 19.7% of listings, and four- and five-room apartments just 5.8%.

So a single person choosing a studio benefits from the record supply. A family that needs two or three bedrooms faces a much thinner market.

Apartment type	Share of peso listings	Annual rent increase	Recent trend
1 room	33.3%	+32.0%	Slowing
2 rooms	41.2%	+31.0%	Slowing
3 rooms	19.7%	+34.8%	Accelerating
4–5 rooms	5.8%	—	Very limited supply

How much more expensive are the popular Buenos Aires neighborhoods?

A lot. Renting in Palermo, Núñez or Puerto Madero can cost several hundred thousand pesos more each month than the same apartment size in the south of the city.

Zonaprop's standard two-room benchmark for September 2026 shows the range: AR$1,268,186 in Puerto Madero (USD 820), AR$1,005,424 in Palermo and AR$1,003,138 in Núñez, against AR$660,673 in Lugano (USD 425), AR$729,080 in Nueva Pompeya and AR$730,922 in La Boca. Puerto Madero costs almost twice as much as Lugano for the same 50 m².

IDECBA's Q2 2026 neighborhood data tell the same story with a different method: the average two-room apartment was AR$880,824 in Saavedra and AR$870,185 in Núñez, against AR$635,720 in Constitución and AR$649,581 in Floresta. That is a gap of about AR$245,000 a month, or 28% less in Constitución for the same number of rooms.

The gap widens for family housing. A three-room apartment reached about AR$1.41 million in Núñez, against roughly AR$913,000 in Montserrat and AR$957,000 in Balvanera: close to AR$493,000 a month between Núñez and Montserrat.

So a single "average Buenos Aires rent" is of little use once you look for an actual apartment.

Are more Buenos Aires landlords asking for rent in dollars?

Yes. Dollar rents are a real part of the market, especially for larger apartments in the wealthier northern neighborhoods.

IDECBA found that 25.4% of apartments advertised for rent in Q2 2026 were listed in US dollars. The share rises with size: almost 30% of three-room units and 44% of four- and five-room apartments.

Location matters even more. Palermo (Comuna 14), Belgrano-Núñez-Colegiales (Comuna 13) and Recoleta (Comuna 2) together held 61% of all dollar rental listings. Add central Comuna 1 and those four areas held 82%.

For a tenant earning pesos, the contract currency can matter as much as the headline increase. A peso lease with inflation updates carries one risk; a dollar lease ties the rent directly to the exchange rate. In 2026 the dollar lease has actually been the cheaper bet: the wholesale dollar rose only about 4.9% between January and October, while peso rents rose 20.8% through September. A devaluation would reverse that quickly.

It also explains why a falling share of peso listings in Palermo or Belgrano does not mean landlords left the market. Some apartments simply moved to the dollar segment.

Part of Buenos Aires rental market (Q2 2026)	Dollar-denominated share or concentration
All rental listings	25.4%
3-room apartments	Almost 30%
4–5-room apartments	44%
Palermo + Belgrano/Núñez/Colegiales + Recoleta	61% of dollar listings
Those areas + central Comuna 1	82% of dollar listings

Can people in Buenos Aires actually afford these rents now?

A little better on paper, but a typical rent still eats a big part of one person's income.

IDECBA's latest household-income survey (Q1 2026) puts average total family income in Buenos Aires at AR$2.59 million a month, up 35.9% from a year earlier: slightly faster than rents.

Using IDECBA's asking rents, a two-room apartment at AR$764,485 takes about 30% of that average family income. A three-room apartment at AR$1.17 million takes around 45%.

For someone on one salary it is harder. Argentina's RIPTE measure for registered workers was about AR$1.85 million in May 2026. The two-room asking rent would take more than 41% of that gross wage, before expensas, electricity, gas and internet. Expensas alone averaged AR$379,774 a month in CABA in September 2026 (USD 245), up 28.6% in a year (ConsorcioAbierto).

And the "average family" is a generous comparison: IDECBA reports much higher incomes in the north of the city than in the south.

That is the apparent contradiction. Rents are no longer outrunning inflation, yet many residents still feel squeezed. A rent that stops rising fast is not the same as a cheap rent.

Are Buenos Aires landlords making good money from rentals again?

Better than in years, at least before tax.

Reporte Inmobiliario calculated an average gross rental yield of 6.22% for used apartments in June 2026, up from about 5.47% at the end of 2025, with two- and three-room apartments doing best.

Zonaprop uses a different sample and gets 5.70% gross in September 2026, stable on the month, which means 17.5 years of rent to pay back the price, 12.5% fewer than a year earlier. The highest yields are in the south (Lugano, Parque Patricios); the lowest in Puerto Madero, at 3.2%.

Yields rose because sale prices barely moved. Zonaprop's asking price for a CABA apartment was US$2,484 per square metre in September 2026, only 1.4% higher than in January, and actual closing prices (RE/MAX-UCEMA-Reporte Inmobiliario) were US$2,097 per m², 0.4% lower than a year earlier.

When prices stand still and peso rents keep climbing, gross yields improve on their own. More rental supply and better landlord returns have managed to coexist.

Is Buenos Aires becoming easier to rent in than Greater Buenos Aires?

Yes, judging by rents and supply. The city looks much less tight than several surrounding markets.

Reporte Inmobiliario's April 2026 study of 13 Greater Buenos Aires locations found rents still rising faster than inflation there, and linked it to lower supply.

The sample covered Vicente López, Olivos, Martínez, San Isidro, Tigre, Avellaneda, Quilmes, Lanús, Morón and Ramos Mejía, among others. They don't all behave the same, but the contrast with CABA, where supply is at record levels and real rent growth is negative, is clear. Landlord yields reflect it too: Zonaprop's gross yields in September 2026 were 7.44% in GBA Sur and 7.10% in GBA Oeste, against 5.70% in the city.

Both areas live with the same inflation, interest rates and currency, so the difference is not an Argentina-wide story. It comes down to local supply: CABA brought many units back to long-term renting after deregulation, and Greater Buenos Aires did not everywhere.

Someone saying "Buenos Aires rents are still exploding" may be describing the suburbs accurately while getting the city wrong.

Could Buenos Aires rents suddenly start rising much faster again?

They could, but there is little sign of it now.

The clearest warning would be a lasting fall in rental supply. We don't see that: IDECBA hit a new high for peso listings in Q2 2026, Reporte Inmobiliario's sample grew between February and May, and Zonaprop's listings rose again in September.

Larger apartments deserve attention. Their rents already rise faster and families have fewer options. More dollar leases could also make premium areas harder for peso earners even without a drop in the overall listing count.

The economy is the other risk. Free contracts let both sides pick the adjustment index, frequency and currency, so a new inflation or exchange-rate shock would feed into new leases fast. The dollar is still well below the top of its band (wholesale around ARS 1,527 against a ceiling of ARS 1,941 in October 2026), but a jump toward that ceiling would push up dollar rents in peso terms at once.

For a real citywide rebound we would expect several things together: fewer listings, rents beating inflation again, and bigger monthly increases for more than one or two readings. None of these is happening now.

What does a foreign landlord keep from Buenos Aires rent after the 2026 tax change?

Less than the gross yield suggests, and less than a local landlord. Since 1 January 2026, rent from a home let to a tenant as their permanent residence is exempt from income tax for resident individuals (Law 27.802, Decree 406/2026, published 1 June 2026). Tourist and short-term lets are not covered.

For non-resident owners, the decree says nothing clear. Tax firm Estudio Piccinini flagged the doubt on 29 June 2026. Until an Argentine tax adviser confirms otherwise, plan on the default: 35% withholding on a presumed 60% net income, which is 21% of gross rent.

On Zonaprop's 5.70% gross yield, that 21% alone brings you to about 4.5%. Then come the wealth tax (Bienes Personales) on the property, paid through a local representative, the ABL city tax, agency fees, extraordinary expensas and empty months between tenants. A foreign buyer should treat 4% as a realistic ceiling for a typical CABA flat, not 6%.

What to check before buying to rent: whether the lease will clearly be the tenant's permanent home (it is the condition for the exemption), who pays ordinary and extraordinary expensas in the contract, and whether your tax adviser will put the non-resident treatment in writing.

What should you negotiate on a Buenos Aires lease right now?

Almost everything is negotiable since DNU 70/2023: duration (two years by default if the contract says nothing), currency, the index used to update the rent (IPC inflation, ICL, UVA or another) and how often it updates.

For tenants, the index is the main lever. The ICL index, which most leases used under the old law, rose 31.5% over twelve months to September 2026, more than new asking rents (+28.7%). A lease updated by ICL can end up above market. Ask for IPC-based updates, every three or four months rather than once a year, and compare the starting rent with current Zonaprop or Mob figures for the same barrio.

With listings up 6.6% in September 2026 alone and monthly asking rents rising only 1.3%, there is room to offer below the asking price on studios and one-bedroom flats, especially ones that have been listed for weeks. That room is much smaller for three-room apartments.

For landlords, the advice is the mirror image: price at market from day one. An overpriced studio sits empty, and one empty month costs more than the difference you were holding out for.

So, are rents still rising in Buenos Aires?

Yes, in pesos, but now at or below inflation rather than in another rental crisis.

Zonaprop's two-room benchmark is 28.7% above a year ago, against 33.4% inflation. Larger apartments are rising slightly faster in the official data. Tenants searching now pay more pesos than a year ago, but less in real terms.

Underneath, real rent growth is slightly negative, smaller apartments are slowing, rental supply is at record levels, landlord gross yields have improved to about 5.7%–6.2%, and the city is calmer than parts of Greater Buenos Aires.

We would be more careful with family apartments and the northern premium market. Larger units are scarcer, three-room rents grow faster, and dollar leases are common in Palermo, Belgrano, Núñez and Recoleta.

The number to watch is no longer the peso increase on its own. What counts is whether rents start beating inflation again while supply shrinks. In October 2026, neither is happening.