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SUMMARY
We analyzed apartment rental yields in Lima, as of May 2026, for foreign residential apartment buyers using the raw Lima apartment yield dataset provided. The work compares estimated purchase prices, monthly rents, gross rental yields, and net rental yields across 12 Lima districts and three apartment formats.
This tracker is updated regularly, so the numbers should be read as a current Lima apartment yield snapshot rather than a permanent forecast.
The clearest finding is that Surquillo has the strongest rent-to-price relationship in the dataset. Its estimated net yields are around 5.2% to 5.3%, with studios at S/ 280,000 and S/ 1,760 monthly rent, and 1-bedroom apartments at S/ 370,000 and S/ 2,220 monthly rent.
Barranco, Lince, Pueblo Libre, and La Molina also show strong headline yields, with studio gross yields around 7.0% in several cases. The practical difference is that Barranco has stronger lifestyle appeal, while Lince and Pueblo Libre look more like practical central yield plays.
Miraflores, San Borja, and Santiago de Surco look weaker for pure rental-income buyers. They remain desirable places to live, but the purchase price absorbs too much of the rent, especially in Surco, where estimated net yields are around 3.7%.
Studios usually produce the best Lima apartment rental yields because rent per square meter is higher. A good studio in Surquillo, Barranco, Lince, Pueblo Libre, or La Molina can outperform a larger apartment on pure income efficiency.
For a beginner foreign buyer, the 1-bedroom apartment is often the safer format. It costs more than a studio, but it attracts a deeper tenant pool, including single professionals, couples, remote workers, expats, and local renters who want central access.
The best stability markets are different from the best yield markets. Miraflores, San Isidro, San Borja, Magdalena, and selected parts of Surco can be easier to rent and resell, even when the yield is lower.
The main risk in Lima is not just choosing the wrong district. It is buying the wrong micro-location, especially in La Molina, Lince, Surquillo, and Surco, where street quality, building maintenance, access, and renter depth can change the result dramatically.
The practical takeaway is simple: for income, start with Surquillo, Lince, Pueblo Libre, Barranco, and Magdalena. For stability, compare Miraflores, San Isidro, Magdalena, San Borja, and selected Surco units, but only if the price is disciplined.
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Neighborhoods and apartment rental yields in the 2026 Lima apartment market
This table compares apartment rental yields in Lima by neighborhood and apartment type.
For each district, the table shows estimated average purchase price, estimated average monthly rent, gross rental yield, and net rental yield for studios, 1-bedroom apartments, and 2-bedroom apartments.
Finally, please note you'll find much more detailed data in our real estate pack about Lima.
| Neighborhood | Studio average purchase price | Studio average monthly rent | Studio gross rental yield | Studio net rental yield | 1-bedroom average purchase price | 1-bedroom average monthly rent | 1-bedroom gross rental yield | 1-bedroom net rental yield | 2-bedroom average purchase price | 2-bedroom average monthly rent | 2-bedroom gross rental yield | 2-bedroom net rental yield |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Barranco | S/ 372,000 | S/ 2,180 | 7.0% | 4.9% | S/ 493,000 | S/ 2,770 | 6.7% | 4.9% | S/ 634,000 | S/ 3,450 | 6.5% | 4.9% |
| Jesús María | S/ 315,000 | S/ 1,630 | 6.2% | 4.3% | S/ 418,000 | S/ 2,070 | 5.9% | 4.3% | S/ 537,000 | S/ 2,580 | 5.8% | 4.3% |
| La Molina | S/ 210,000 | S/ 1,230 | 7.0% | 4.9% | S/ 279,000 | S/ 1,560 | 6.7% | 4.9% | S/ 358,000 | S/ 1,950 | 6.5% | 4.9% |
| Lince | S/ 298,000 | S/ 1,750 | 7.0% | 4.9% | S/ 394,000 | S/ 2,210 | 6.7% | 4.9% | S/ 507,000 | S/ 2,760 | 6.5% | 4.9% |
| Magdalena | S/ 284,000 | S/ 1,560 | 6.6% | 4.6% | S/ 376,000 | S/ 1,980 | 6.3% | 4.6% | S/ 484,000 | S/ 2,470 | 6.1% | 4.6% |
| Miraflores | S/ 363,000 | S/ 1,770 | 5.9% | 4.1% | S/ 480,000 | S/ 2,250 | 5.6% | 4.1% | S/ 617,000 | S/ 2,800 | 5.4% | 4.1% |
| Pueblo Libre | S/ 260,000 | S/ 1,520 | 7.0% | 4.9% | S/ 344,000 | S/ 1,930 | 6.7% | 4.9% | S/ 442,000 | S/ 2,400 | 6.5% | 4.9% |
| San Borja | S/ 302,000 | S/ 1,480 | 5.9% | 4.1% | S/ 400,000 | S/ 1,870 | 5.6% | 4.1% | S/ 514,000 | S/ 2,330 | 5.4% | 4.1% |
| San Isidro | S/ 372,000 | S/ 2,050 | 6.6% | 4.6% | S/ 493,000 | S/ 2,590 | 6.3% | 4.6% | S/ 633,000 | S/ 3,230 | 6.1% | 4.6% |
| San Miguel | S/ 257,000 | S/ 1,330 | 6.2% | 4.3% | S/ 340,000 | S/ 1,680 | 5.9% | 4.3% | S/ 437,000 | S/ 2,100 | 5.8% | 4.3% |
| Santiago de Surco | S/ 283,000 | S/ 1,250 | 5.3% | 3.7% | S/ 375,000 | S/ 1,580 | 5.0% | 3.7% | S/ 482,000 | S/ 1,970 | 4.9% | 3.7% |
| Surquillo | S/ 280,000 | S/ 1,760 | 7.5% | 5.3% | S/ 370,000 | S/ 2,220 | 7.2% | 5.3% | S/ 476,000 | S/ 2,770 | 7.0% | 5.2% |
We have made this infographic to give you a quick and clear snapshot of the property market in Peru. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which neighborhoods offer the best net yield among areas people actually want to live in Lima?
The best net-yield neighborhoods among areas people actually want to live in Lima are Surquillo, Barranco, Lince, Pueblo Libre, and Magdalena.
Surquillo leads the dataset, with estimated net yields around 5.2% to 5.3% across apartment types. A 1-bedroom apartment is estimated at S/ 370,000 and S/ 2,220 monthly rent, which is the strongest income signal in the table.
Barranco, Lince, and Pueblo Libre sit just below that level, with estimated net yields around 4.9%. Barranco has stronger lifestyle appeal, while Lince and Pueblo Libre are more practical central rental markets.
Magdalena is slightly lower at around 4.6% net yield, but it is balanced. It gives buyers proximity to the coastal corridor and central job areas without Miraflores or San Isidro pricing.
The practical takeaway is that Surquillo and Lince are better for yield, while Barranco and Magdalena are easier to explain to future tenants and buyers. For a beginner, that resale and tenant story matters almost as much as the yield number.
Where can I find apartments with above-average yields and below-average entry prices in Lima?
The clearest Lima neighborhoods with above-average yields and below-average entry prices are Surquillo, Pueblo Libre, Lince, Magdalena, and San Miguel.
Surquillo is the cleanest value signal. A studio is estimated at S/ 280,000 and a 1-bedroom apartment at S/ 370,000, while the net yield remains around 5.3%.
Pueblo Libre also works well for a beginner buyer. A 1-bedroom apartment is estimated at S/ 344,000 with S/ 1,930 monthly rent, giving about 4.9% net yield.
Lince is slightly more expensive, with a 1-bedroom apartment around S/ 394,000, but the rent estimate of S/ 2,210 keeps the yield strong. Its value comes from centrality and access to job areas rather than prestige.
San Miguel is cheaper, with a 1-bedroom apartment around S/ 340,000, but the net yield is lower at about 4.3%. That makes it more of an affordability play than a top yield play.
Where does the rent level justify the purchase price most clearly in Lima?
The rent level justifies the purchase price most clearly in Surquillo, Barranco, Lince, Pueblo Libre, and La Molina.
Surquillo is the most obvious case. A 1-bedroom apartment is estimated at S/ 370,000 and S/ 2,220 monthly rent, producing about 7.2% gross yield and 5.3% net yield.
Barranco is more expensive, but rents are also high. A 1-bedroom apartment is estimated at S/ 493,000 and S/ 2,770 monthly rent, giving about 6.7% gross yield and 4.9% net yield.
Lince and Pueblo Libre look rational because they are not prestige districts, but tenants still pay for central access, universities, hospitals, clinics, services, and practical commute routes.
Miraflores is weaker on pure rent-to-price logic. A 1-bedroom apartment is estimated at S/ 480,000 and S/ 2,250 monthly rent, which gives only about 4.1% net yield.
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Where is the best place to buy if I want stable rental income rather than maximum yield in Lima?
The best places to buy for stable rental income rather than maximum yield in Lima are Miraflores, San Isidro, San Borja, Magdalena, and selected parts of Santiago de Surco.
Miraflores and San Isidro are the most liquid rental markets for foreign renters, professionals, corporate tenants, and higher-income households. Their yields are not the highest, but the tenant base is easier to understand.
Miraflores has estimated net yields around 4.1% across the three apartment types. That is lower than Surquillo, but a well-located Miraflores apartment can be easier to rent and resell.
San Isidro is slightly stronger on the numbers, with estimated net yields around 4.6%. The district works for professional tenants because of offices, embassies, services, prestige, and a more established rental profile.
San Borja and Surco are more family-oriented. They suit larger apartments better than studios, but the investor must be careful because yields are compressed, especially in Surco.
Magdalena is the middle option. It offers about 4.6% net yield with lower entry prices than Miraflores and San Isidro, while still staying close to the coastal and employment corridor.
Which apartment type gives the best return for the lowest total investment in Lima?
The apartment type that gives the best return for the lowest total investment in Lima is usually the studio apartment, followed closely by the 1-bedroom apartment.
Studios have the strongest estimated gross yields because the rent per square meter is higher. In Surquillo, a studio is estimated at S/ 280,000 and S/ 1,760 monthly rent, giving about 7.5% gross yield.
Barranco, La Molina, Lince, and Pueblo Libre studios also show about 7.0% gross yield. That is a strong signal for buyers who want the most rent per sol invested.
For a beginner, the 1-bedroom apartment is often safer than the studio. It costs more, but it attracts singles, couples, expats, remote workers, and local professionals, which can reduce vacancy risk.
Two-bedroom apartments generate higher monthly rent, but the total investment is much larger. In Miraflores, a 2-bedroom apartment is estimated at S/ 617,000, compared with S/ 363,000 for a studio.
The practical recommendation is to buy a studio for maximum yield per sol invested, or a 1-bedroom apartment for better tenant depth and resale liquidity.
We give you more details in the our real estate pack about Lima.
Which neighborhoods offer strong rental income with the lowest vacancy risk in Lima?
The Lima neighborhoods that offer strong rental income with lower vacancy risk are Barranco, Miraflores, San Isidro, Magdalena, and Surquillo.
Barranco has the strongest rent level among the lifestyle districts. Estimated monthly rent is S/ 2,180 for a studio, S/ 2,770 for a 1-bedroom apartment, and S/ 3,450 for a 2-bedroom apartment.
Miraflores has lower yield, but tenant demand is broad. Foreign renters, corporate tenants, digital nomads, and local professionals all understand the district.
San Isidro works because offices, embassies, services, and prestige create a resilient professional tenant base. A 1-bedroom apartment is estimated at S/ 2,590 monthly rent with about 4.6% net yield.
Surquillo has the best yield, but unit selection matters more. The safer Surquillo strategy is to buy near the Miraflores or San Isidro edge, not in weaker micro-locations.
Magdalena is useful because it combines moderate entry prices, coastal proximity, and practical access. It is not the highest-yield district, but it is easier to defend than many purely cheap areas.
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.
Which areas look overpriced relative to their rental income in Lima?
The areas that look most overpriced relative to rental income in Lima are Santiago de Surco, Miraflores, and San Borja.
Santiago de Surco is the clearest yield problem. A 1-bedroom apartment is estimated at S/ 375,000 and S/ 1,580 monthly rent, which gives only about 3.7% net yield.
Miraflores is highly desirable, but its rental yield is compressed. A 1-bedroom apartment is estimated at S/ 480,000 and S/ 2,250 monthly rent, giving about 4.1% net yield.
San Borja also looks expensive relative to rent. A 2-bedroom apartment is estimated at S/ 514,000 and S/ 2,330 monthly rent, which is only about 4.1% net yield.
These are not bad neighborhoods. They may still make sense for lifestyle, resale liquidity, prestige, or capital preservation, but they are weaker for a beginner focused on rental income.
Which neighborhoods should I avoid even if the rental yield looks attractive in Lima?
Beginner Lima rental investors should be cautious with La Molina and weaker pockets of Surquillo or Lince, even when the headline yield looks attractive.
La Molina shows estimated net yields near 4.9%, which looks strong. The problem is that the district is more suburban and family-oriented, so studios may not match the deepest tenant demand.
Surquillo has the best yield in the dataset, but it is highly micro-location sensitive. A unit near Miraflores or San Isidro is very different from a cheaper apartment on a weaker block.
Lince also needs careful street-level selection. It has central demand, but building quality, noise, safety perception, and the immediate surroundings matter heavily.
The avoid rule is simple. Do not buy a high-yield Lima apartment if the tenant pool is narrow, the building is weak, or resale liquidity depends on a discount.
Which neighborhoods look risky even though the rental yield is high in Lima?
The neighborhoods that can look risky even though the rental yield is high in Lima are La Molina, Surquillo, Lince, and Pueblo Libre.
La Molina’s risk is tenant mismatch. It can show high yield, with studios around 7.0% gross and 4.9% net, but compact apartments may not fit the district’s stronger family demand.
Surquillo’s risk is micro-location and building quality. The best locations near Miraflores can be excellent, while weaker streets can have more vacancy and resale friction.
Lince’s risk is livability perception. It is central and practical, but some renters may prefer cleaner, quieter, or more polished districts.
Pueblo Libre’s risk is liquidity with foreign buyers. Local demand can be strong, but it does not have the same international recognition as Miraflores, Barranco, or San Isidro.
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What neighborhoods should I avoid when buying a rental apartment in Lima?
When buying a rental apartment in Lima, a beginner should avoid weak micro-locations in La Molina, Santiago de Surco, Lince, and Surquillo rather than avoiding whole districts blindly.
In La Molina, avoid studios far from universities, transport corridors, and daily services. The area can show attractive yields, but the renter base for small apartments is thinner than in central districts.
In Santiago de Surco, avoid paying prime prices for weak yields. The district’s estimated net yield is around 3.7% across apartment types, which leaves little room for mistakes.
In Lince, avoid older buildings with poor maintenance, noisy streets, or weak immediate surroundings. The yield can be strong, but tenant quality depends heavily on the block.
In Surquillo, avoid chasing the highest spreadsheet yield without checking street quality, building standards, and resale comparables. The best Surquillo investments are very location-specific.
The simple beginner rule is this: avoid any Lima apartment where the yield looks attractive only because the purchase price is cheap.
Which neighborhoods are seeing rental demand weaken, and why, in Lima?
The neighborhoods where rental demand looks more selective in Lima are overpriced parts of Surco, weaker parts of La Molina, and older stock in Lince or Surquillo.
Surco’s issue is yield compression. Purchase prices remain high relative to rent, so rental-income investors get less compensation for the capital invested.
La Molina’s issue is apartment-type mismatch. Compact apartments can struggle if they are not near clear tenant demand such as universities, offices, or transport routes.
Older buildings in Lince and Surquillo can weaken if they compete with newer apartments that offer better security, elevators, amenities, and maintenance.
This is more of a selective slowdown than a citywide rental problem. The right apartment can still rent well, but the wrong unit needs a lower purchase price.
Which neighborhoods are seeing new developments that could create stronger rental demand in Lima?
The main development story that could create stronger rental demand in Lima is transport, especially Lima Metro Line 2, plus continued new-housing demand in Pueblo Libre, San Miguel, Jesús María, Miraflores, and Surco.
Line 2 matters because it is designed to run from Ate to Callao, with 27 stations and connections to the Metropolitano, Line 1, and future metro lines. That matters for renters because Lima’s rental market is heavily shaped by commute time.
For the districts in this dataset, the most relevant indirect beneficiaries are San Miguel, Pueblo Libre, Jesús María, Lince, and Surquillo. These districts already have practical centrality, and better cross-city access can improve their rental appeal.
Pueblo Libre and San Miguel also benefit from affordability and new-apartment demand. The investment point is not just new supply, but whether new transport and services make the area more useful for renters.
The caution is that new residential towers can create more competition. Demand-creating infrastructure is more useful than supply-heavy apartment delivery alone.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Peru. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Which neighborhoods have become less attractive for apartment investors over the last 12 months in Lima?
The neighborhoods that look less attractive for apartment investors over the last 12 months in Lima are Santiago de Surco, Miraflores, and San Borja.
These areas remain desirable, but the rental yield picture is compressed. The problem is not livability, it is the balance between purchase price and rent.
Santiago de Surco is the weakest in the table, with estimated net yields around 3.7% across apartment types. A 2-bedroom apartment is estimated at S/ 482,000 and S/ 1,970 monthly rent, which is not compelling for pure rental income.
Miraflores is still very liquid, but prices are high. Its 1-bedroom apartment net yield is about 4.1%, while nearby Surquillo reaches about 5.3%.
San Borja also looks less attractive for yield. It is safe, orderly, and family-friendly, but the rent-to-price relationship is weaker than in Pueblo Libre, Lince, Magdalena, or Barranco.
The conclusion is not to avoid these districts completely. Buy them only at a discount, or buy them for stability and resale quality rather than headline rental yield.
Which apartment types are becoming harder to rent in Lima, and in which neighborhoods?
The apartment types becoming harder to rent in Lima are studios in suburban family districts and expensive 2-bedroom apartments in yield-compressed prime districts.
Studios work best in Barranco, Miraflores, Lince, Surquillo, and Pueblo Libre because renters include young professionals, students, expats, singles, and short-commute tenants.
Studios are less natural in La Molina or some parts of Surco unless the building is near a clear demand driver. A small apartment far from daily services can look good in a spreadsheet but rent slowly in practice.
One-bedroom apartments are the most liquid rental product in Lima. They suit single professionals, couples, remote workers, and foreign tenants, which is why they are usually the safest beginner format.
Two-bedroom apartments can work well in San Borja, Surco, San Isidro, and Magdalena, but only if the price is disciplined. They depend more on families, sharers, parking, building quality, and school or office access.
The practical rule is to buy small apartments in central, walkable Lima districts. Buy larger apartments only where family demand is deep and predictable.
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INSIGHTS
These insights are drawn from the Lima apartment rental yield dataset, with a focus on what a foreign individual buyer should understand before buying a residential apartment to rent out.
You’ll find even more insights in our our real estate pack about Lima.
- Surquillo is the strongest income signal in the dataset. The district combines lower purchase prices than Miraflores with rents supported by proximity to Miraflores and San Isidro.
- Studios generally outperform larger Lima apartments because small units monetize rent per square meter more efficiently. This matters for buyers who want the highest yield for the lowest total investment.
- One-bedroom apartments are the most balanced format for foreign beginner buyers. They give slightly lower yield than studios in some districts, but they usually have better tenant depth and resale logic.
- Two-bedroom apartments need stronger tenant quality to justify the larger cash outlay. In yield-compressed areas, the extra rent often does not fully compensate for the higher purchase price.
- Barranco is expensive, but the rent level supports the price better than in many other premium areas. Lifestyle demand, coastal access, nightlife, and short-stay appeal help explain the rent premium.
- Lince is one of Lima’s clearest practical yield plays. The district is not as polished as Miraflores or San Isidro, but central access supports rental demand.
- Pueblo Libre offers a useful mix of affordability and yield. It is less visible to many foreign buyers, but local demand, universities, hospitals, and services support the rental case.
- Magdalena is a balanced middle option. It does not lead the table, but it gives better yield than Miraflores and San Borja while staying close to the coastal and employment corridor.
- Miraflores is better for liquidity than maximum income. The district is easy for renters and buyers to understand, but the net yield is compressed by high entry prices.
- San Isidro rents are high, but the buyer must avoid overpaying. Prestige and professional demand help, but the purchase price can quickly absorb the rent premium.
- Santiago de Surco is the weakest pure yield market in the table. It can still work for lifestyle or family demand, but the income return is too low for many beginner investors.
- San Borja looks safer than it looks profitable. It is orderly and family-friendly, but the yield profile is closer to Miraflores than to Surquillo or Lince.
- La Molina shows attractive headline yields, but the product fit is not automatic. Compact apartments can face a narrower tenant pool in a suburban family-oriented district.
- San Miguel is affordable, but its net yield is mid-range rather than exceptional. It works better as an affordability play than as the strongest income opportunity.
- The most important risk in Lima is micro-location. A good street, secure building, clean maintenance, and nearby services can matter more than the district average.
- Foreign buyers should compare net yield rather than gross yield. Taxes, vacancy, repairs, maintenance leakage, and management friction can change the real result.
- The best beginner strategy is usually a 1-bedroom apartment in Surquillo, Lince, Magdalena, or Pueblo Libre. This format balances price, rent, tenant depth, and resale clarity.
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OUR METHODOLOGY TO BUILD THIS TRACKER
To estimate purchase price, monthly rent, and rental yield in different Lima neighborhoods, we built the analysis manually from the ground up by neighborhood and apartment type. For each area, we looked separately at studios, 1-bedroom apartments, and 2-bedroom apartments, using comparable surface ranges where possible.
For each segment, we manually reviewed current residential sale listings across major Peru property platforms such as Urbania, Adondevivir, and Properati. We did not reuse a third-party yield dataset.
We collected comparable sale listings for each neighborhood and property type, then cleaned the sample. Duplicate listings, unrealistic asking prices, luxury outliers, distressed assets, serviced-style offers, incomplete listings, and clearly non-comparable properties were removed.
Sale prices were normalized by location, property type, size, condition, and listing quality. We used the median price as the main reference where possible, or the average only when the sample was clean enough to avoid distortion.
We then built the rental side of the dataset separately. For the same neighborhood and property type, we manually collected rental listings, removed outliers and non-comparable listings, and estimated a realistic monthly rent using the median rent where possible.
Purchase prices and rents were researched separately, then matched by neighborhood and apartment type to estimate gross rental yield. Gross rental yield is calculated as annual rent divided by estimated purchase price.
To estimate net yield, we avoided applying a single flat discount across all segments. The deduction was adjusted by neighborhood and apartment type, reflecting differences in fees, vacancy risk, maintenance, management costs, agent fees, tax friction, repairs, utilities, service charges, building costs, and other operating costs when relevant.
This matters because different residential properties do not have the same cost structure. A small central apartment, a building with higher service charges, and a larger family-oriented apartment should not be treated as if they have the same operating profile.
Each estimate was assigned a confidence level based on the quality and size of the comparable listing sample. A sample of 30 to 40 comparable listings means higher confidence, 20 to 30 comparable listings means usable but less robust, and fewer than 20 comparable listings means directional only unless the comparable area is widened.
These estimates are updated regularly and should be read as structured market estimates, not as guarantees of future rental income. Honesty, quality, and rigor are at the core of our work, and they are also what you will find in our real estate pack about Lima.
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