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This blog post covers the current housing prices in Mérida as of the first half of 2026.
We constantly update this article to bring you the freshest data on the Mérida real estate market.
Whether you want to buy, invest, or simply understand the market, you will find clear and practical information here.
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 Mérida.
Insights
- Mérida property listings in 2026 typically close about 7% below the asking price, so buyers have real negotiation room when purchasing homes in Yucatán.
- The north and northeast corridors of Mérida command prices up to three times higher per square meter than western neighborhoods like Ciudad Caucel.
- New construction in Mérida carries a premium of roughly 12% over comparable existing homes, driven by lower maintenance risk and modern amenities.
- Centro colonial homes in Mérida average around 6.8 million MXN despite often needing renovation, because the land and location hold significant value.
- Mérida housing prices have risen about 110% in nominal terms over the past 10 years, but only around 45% when adjusted for Mexican inflation.
- Closing costs in Mérida typically add 5% to 7% to your purchase price, including acquisition tax, notary fees, and property registration.
- Single-family detached houses make up about 55% of Mérida's residential market, making them the dominant property type in the city.
- At $100,000, buyers in Mérida are limited to entry-level townhouses or small starter homes in outer neighborhoods like Ciudad Caucel.
- Luxury properties in areas like Cabo Norte can reach 30 million MXN or more, with price per square meter exceeding 60,000 MXN.
- The median housing price in Mérida in 2026 sits around 4.2 million MXN, while the average is higher at 5.3 million MXN due to luxury properties pulling the figure up.
What is the average housing price in Mérida in 2026?
The median housing price is more telling than the average because it represents the middle point of the market, meaning it is not skewed by a few extremely expensive luxury properties the way an average can be.
We are writing this as of the first half of 2026, using the latest data collected from authoritative sources like Banco de México, SHF, and Banorte's housing price indicator, all of which we manually verified.
The median housing price in Mérida in 2026 is approximately 4,200,000 MXN, which converts to about $227,000 or €208,000. The average housing price in Mérida in 2026 is higher at around 5,300,000 MXN, or roughly $286,000 and €262,000, because luxury homes pull this figure upward.
About 80% of residential properties in Mérida in 2026 fall within a price range of 2,200,000 to 9,000,000 MXN, which is approximately $119,000 to $486,000 or €109,000 to €446,000.
A realistic entry-level budget in Mérida in 2026 would be 1,600,000 to 2,200,000 MXN (about $86,000 to $119,000 or €79,000 to €109,000), which could get you an older 2-bedroom townhouse of 70 to 90 square meters in Ciudad Caucel on the west side of the city.
A typical luxury property in Mérida in 2026 ranges from 12,000,000 to 30,000,000 MXN (approximately $649,000 to $1,620,000 or €594,000 to €1,490,000), and at this level you could purchase a modern 4 to 5 bedroom house with 350 to 600 square meters of living space in gated communities like Temozón Norte or Cabo Norte.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Mérida.
Are Mérida property listing prices close to the actual sale price in 2026?
In Mérida in 2026, property listings are typically priced about 7% above the final closing price on average.
This gap exists because many sellers in Mérida price with negotiation room built in, especially for properties that have been on the market for a while. The difference is usually smaller (around 3% to 6%) for luxury properties where unique features justify asking prices, but larger (6% to 9%) for entry and mid-market homes where buyers use financing and appraisals can cap what actually closes.
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What is the price per sq m or per sq ft for properties in Mérida in 2026?
As of early 2026, the median housing price per square meter in Mérida is approximately 26,500 MXN (about $1,432 or €1,312), which works out to around 2,462 MXN per square foot ($133 or €122). The average price per square meter in Mérida in 2026 is higher at roughly 29,500 MXN ($1,595 or €1,460), or about 2,741 MXN per square foot ($148 or €136).
Newer apartments with amenities in Mérida's north and northeast corridors (like Temozón Norte and Montebello) command the highest price per square meter because of their proximity to malls, hospitals, schools, and gated security, while older large homes in the west and south of the city have the lowest price per square meter due to longer commutes and renovation needs.
In Mérida in 2026, the highest prices per square meter are found in Temozón Norte, Santa Gertrudis Copó, and Cabo Norte, typically ranging from 35,000 to 55,000 MXN per square meter. The lowest prices per square meter are found in Ciudad Caucel and parts of western Mérida, where you can expect to pay around 18,000 to 23,000 MXN per square meter.
How have property prices evolved in Mérida?
Compared to one year ago (January 2025), housing prices in Mérida have risen by about 6% in nominal terms, which translates to roughly 2% in real terms after accounting for inflation. This growth happened because demand stayed strong in the north and northeast corridors from local families and investors, while ready-to-move-in supply remained limited due to construction and permitting timelines.
Looking back ten years to January 2016, housing prices in Mérida have increased by approximately 110% in nominal terms, or about 45% when adjusted for inflation. This long-term growth was driven by steady in-migration from other Mexican cities plus foreign and second-home buyers, combined with infrastructure expansion that kept pushing the premium northward.
By the way, we've written a blog article detailing the latest updates on property price variations in Mérida.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Mérida.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Mexico 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 types of properties are available in Mérida and how do prices vary in 2026?
In Mérida in 2026, single-family detached houses make up about 55% of the residential market, followed by townhouses in private developments (privadas) at 20%, apartments and condos at 20%, and colonial homes in Centro at around 5%, reflecting the city's preference for ground-level living with private outdoor space.
The average price for a detached house in Mérida in 2026 is around 5,900,000 MXN ($319,000 or €292,000). Townhouses in privadas average about 4,300,000 MXN ($232,000 or €213,000). Apartments and condos come in at approximately 3,600,000 MXN ($195,000 or €178,000). Colonial homes in Centro average around 6,800,000 MXN ($368,000 or €337,000), which is higher than detached houses because the land and location carry significant value even when the structure needs renovation.
If you want to know more, you should read our dedicated analyses:
- How much do properties cost in Mérida?
- How much should you pay for a house in Mérida?
- How much should you pay for lands in Mérida?
How do property prices compare between existing and new homes in Mérida in 2026?
In Mérida in 2026, new construction properties carry a premium of approximately 12% per square meter compared to similar existing homes.
This premium exists because buyers pay for lower maintenance risk, modern layouts with proper parking and water systems, and the amenities that typically come bundled with new developments in privadas, such as pools, gyms, and security.
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How do property prices vary by neighborhood in Mérida in 2026?
In Centro (Santiago and Santa Ana areas), you will find renovated colonial homes and boutique condos priced between 4,000,000 and 12,000,000 MXN ($216,000 to $649,000). These neighborhoods attract buyers who value walkability and historic character, and the high land values mean even properties needing work command significant prices.
In García Ginerés and Itzimná, the market features classic leafy residential streets with larger lots, priced from 4,500,000 to 11,000,000 MXN ($243,000 to $595,000). These central neighborhoods appeal to buyers who want a traditional Mérida feel without being in the tourist-heavy Centro zone.
In Temozón Norte and Santa Gertrudis Copó, you will find modern privadas and new condo developments ranging from 4,000,000 to over 20,000,000 MXN ($216,000 to $1,080,000+). These northern neighborhoods have grown because of proximity to shopping centers, hospitals, and international schools, and they offer the newest housing stock in Mérida.
You will find a much more detailed analysis by areas in our property pack about Mérida. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Price Range (MXN / $) | Per m² (MXN / $) | Per ft² (MXN / $) |
|---|---|---|---|---|
| Temozón Norte | Luxury / new-build | 4.0M - 20.0M / $216k - $1.08M | 35,000 - 55,000 / $1,892 - $2,973 | 3,252 - 5,110 / $176 - $276 |
| Santa Gertrudis Copó | Luxury / family | 5.0M - 22.0M / $270k - $1.19M | 33,000 - 52,000 / $1,784 - $2,811 | 3,066 - 4,831 / $166 - $261 |
| Cabo Norte | Luxury / gated | 8.0M - 30.0M / $432k - $1.62M | 40,000 - 60,000 / $2,162 - $3,243 | 3,716 - 5,575 / $201 - $301 |
| Montebello | Premium / central-north | 4.5M - 15.0M / $243k - $811k | 30,000 - 45,000 / $1,622 - $2,432 | 2,787 - 4,182 / $151 - $226 |
| Altabrisa | Premium / services | 3.5M - 12.0M / $189k - $649k | 28,000 - 42,000 / $1,514 - $2,270 | 2,602 - 3,902 / $141 - $211 |
| García Ginerés | Expat / central | 5.0M - 11.0M / $270k - $595k | 26,000 - 40,000 / $1,405 - $2,162 | 2,416 - 3,716 / $131 - $201 |
| Itzimná | Expat / classic | 4.5M - 10.0M / $243k - $541k | 25,000 - 38,000 / $1,351 - $2,054 | 2,323 - 3,530 / $126 - $191 |
| Centro (Santiago/Santa Ana) | Walkable / heritage | 4.0M - 12.0M / $216k - $649k | 25,000 - 45,000 / $1,351 - $2,432 | 2,323 - 4,182 / $126 - $226 |
| Cholul | Family / growth | 3.0M - 8.0M / $162k - $432k | 24,000 - 33,000 / $1,297 - $1,784 | 2,230 - 3,066 / $121 - $166 |
| Santa Fe | Family / commute | 3.0M - 7.0M / $162k - $378k | 23,000 - 32,000 / $1,243 - $1,730 | 2,137 - 2,973 / $116 - $161 |
| Francisco de Montejo | Family / value | 2.5M - 6.0M / $135k - $324k | 22,000 - 30,000 / $1,189 - $1,622 | 2,044 - 2,787 / $110 - $151 |
| Ciudad Caucel | Entry / value | 1.6M - 3.2M / $86k - $173k | 18,000 - 23,000 / $973 - $1,243 | 1,673 - 2,137 / $90 - $116 |
How much more do you pay for properties in Mérida when you include renovation work, taxes, and fees?
In Mérida in 2026, closing costs and fees typically add 5% to 7% to your purchase price, and renovation work (if needed) can add another 5% to 30% depending on the property's condition.
If you buy a property for around $200,000 (about 3,700,000 MXN) in Mérida, you should budget approximately 220,000 to 260,000 MXN ($12,000 to $14,000) for closing costs including acquisition tax, notary fees, and registration. If the property needs light renovation, add another 185,000 to 370,000 MXN ($10,000 to $20,000), bringing your total to roughly 4,100,000 to 4,330,000 MXN ($222,000 to $234,000).
For a property around $500,000 (about 9,250,000 MXN), closing costs would run approximately 555,000 to 650,000 MXN ($30,000 to $35,000). A moderate renovation could add 1,100,000 MXN ($60,000) or more, putting your all-in cost at around 10,900,000 to 11,000,000 MXN ($590,000 to $595,000).
For a $1,000,000 property (about 18,500,000 MXN), expect closing costs of 1,100,000 to 1,300,000 MXN ($60,000 to $70,000). If you are buying a colonial home or luxury property needing significant work, renovation could add 2,500,000 to 5,500,000 MXN ($135,000 to $300,000), bringing your total investment to 22,000,000 to 25,000,000 MXN ($1,190,000 to $1,350,000).
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Mérida
| Expense | Category | Estimated Cost (MXN / $) |
|---|---|---|
| ISAI (acquisition tax) | Tax | Approximately 2% to 4% of the purchase price, depending on the property value and local tax schedule. The exact rate is confirmed by your notary based on Mérida municipal rules. For a 5,000,000 MXN property, expect to pay 100,000 to 200,000 MXN ($5,400 to $10,800). |
| Notary fees | Fee | Typically 0.5% to 1.5% of the purchase price, varying with transaction complexity and property value brackets. Notaries in Mérida handle title verification, document preparation, and filing. For a 5,000,000 MXN property, budget 25,000 to 75,000 MXN ($1,350 to $4,050). |
| Property registry | Fee | Includes fixed fees plus variable rights, typically totaling 0.2% to 0.6% of the purchase price. Registration is processed through the Yucatán state registry office. For a 5,000,000 MXN property, expect 10,000 to 30,000 MXN ($540 to $1,620). |
| Appraisal and certificates | Admin | Generally 5,000 to 20,000 MXN ($270 to $1,080), covering property valuation and required clearance certificates. These are standard requirements for any property purchase in Mérida. The cost is relatively fixed regardless of property value. |
| Light renovation | Renovation | Approximately 5% to 10% of purchase price for cosmetic updates like painting, flooring, and minor repairs. This level of work is common for existing homes that are structurally sound. For a 5,000,000 MXN property, budget 250,000 to 500,000 MXN ($13,500 to $27,000). |
| Moderate renovation | Renovation | Approximately 10% to 15% of purchase price for kitchen and bathroom updates, electrical improvements, and layout changes. This is typical for older homes in established neighborhoods. For a 5,000,000 MXN property, budget 500,000 to 750,000 MXN ($27,000 to $40,500). |
| Heavy renovation | Renovation | Approximately 20% to 30% or more of purchase price for full structural work, plumbing and electrical replacement, and major restoration. This is common for colonial homes in Centro that need complete rehabilitation. For a 10,000,000 MXN colonial, budget 2,000,000 to 3,000,000 MXN ($108,000 to $162,000) or more. |
We made this infographic to show you how property prices in Mexico compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Mérida in 2026 with different budgets?
With $100,000 (about 1,850,000 MXN) in Mérida in January 2026, your options are limited but include a 2-bedroom townhouse of around 75 square meters in Ciudad Caucel (existing home), a small 1 to 2 bedroom starter home of 65 to 80 square meters in western Mérida, or a compact apartment of 55 to 65 square meters in an outer ring neighborhood.
With $200,000 (about 3,700,000 MXN) in Mérida, you could purchase a 2-bedroom condo of around 80 square meters in Altabrisa in a newer building, a 3-bedroom townhouse of about 150 square meters in Cholul in a simple privada, or a 3-bedroom family house of around 200 square meters in Francisco de Montejo (existing home).
With $300,000 (about 5,550,000 MXN) in Mérida, you could buy a 3-bedroom house of around 240 square meters in Santa Fe (newer construction), a 3-bedroom house of about 260 square meters in Itzimná (existing, needing some updating), or a 2 to 3 bedroom condo of 110 square meters in Montebello in a newer building.
With $500,000 (about 9,250,000 MXN) in Mérida, you could purchase a renovated colonial home of around 220 square meters in Centro (Santiago or Santa Ana areas), a 4-bedroom house of about 320 square meters in Montebello (newer or fully updated), or a 4-bedroom gated house of around 350 square meters in Santa Gertrudis Copó.
With $1,000,000 (about 18,500,000 MXN) in Mérida, you could buy a luxury villa of 500 to 600 square meters in the Cabo Norte area (new construction), a high-end modern house of around 450 square meters in Temozón Norte, or a trophy renovated colonial with a large lot in a prime Centro location.
With $2,000,000 (about 37,000,000 MXN) in Mérida, there is definitely a market for this budget, and you could purchase a signature architecture estate of 700 square meters or more in north Mérida (new construction), an ultra-luxury gated property with a large lot near Cabo Norte, or the best-in-class restored colonial on a premium Centro street.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Mérida.
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 Mérida, 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 |
|---|---|---|
| Banco de México (SIE) - inflation data | Mexico's central bank and its official time series platform for macroeconomic data. | We used this source to anchor Mexico's inflation levels near January 2026 so we could calculate real (inflation-adjusted) price changes. We also relied on it as the baseline official macro context when explaining what drove Mérida housing prices. |
| Banco de México - current inflation snapshot | An official Banco de México page that updates frequently with the latest inflation readings. | We used this to verify where inflation stood around late 2025 and early 2026. We cross-checked this against the longer CPI time series to ensure our real versus nominal calculations were accurate. |
| Banorte INBAPREVI methodology | Banorte is one of Mexico's major banks and this is their official methodology note for their housing price indicator. | We used this to justify using high-frequency listing-based price per square meter signals specifically for Mérida. We relied on its methodology details covering scraping, cleaning, and price bands to frame our listing versus closing price estimates. |
| Banorte indicator landing page | The bank's official announcement page for their housing price index covering multiple Mexican cities. | We used this as confirmation that the indicator covers Mérida and is updated monthly. We relied on it to support why we treat listing data as a timely market indicator. |
| SHF official housing price index | SHF (Sociedad Hipotecaria Federal) is a Mexican public institution for housing finance and their index is widely used as an official benchmark. | We used this to anchor national housing growth rates and typical valuation levels from mortgage and appraisal-based data. We relied on it as the conservative cross-check against listing-based Mérida estimates. |
| Mérida municipality ISAI page | The official municipal finance page for Mérida covering property acquisition taxes. | We used this to ground the taxes and fees section in official local rules rather than generic Mexico averages. We relied on it to explain why closing costs are a meaningful and required part of any Mérida property purchase. |
| Government of Yucatán registry process | The official state portal for procedures and services in Yucatán. | We used this to confirm that property registration is a real, paid step in the closing process. We included it in our closing cost breakdown to explain why total fees commonly land in the mid-single-digit percentage of purchase price. |
| Inmobiliare (citing Inmuebles24) | A reputable real estate publication that cites recognized housing data brands and large property portals. | We used this to triangulate city-level MXN per square meter and example unit pricing. We only kept figures that aligned with Banorte and SHF directions and local market reality. |
| Por Esto! (local Yucatán news) | A local news outlet reporting on Yucatán real estate trends with data from recognized sources. | We used this to verify that Yucatán-wide listing prices were in the high 20,000 MXN per square meter range. We cross-referenced this with our neighborhood-specific estimates to ensure internal consistency. |
| INEGI (National Statistics Institute) | Mexico's official national statistics agency providing demographic and economic data. | We used INEGI data to understand population growth and migration patterns affecting Mérida's housing demand. We relied on their demographic figures to contextualize why demand remains strong. |
| SEDATU (Housing Ministry) | Mexico's federal ministry responsible for territorial and urban development policy. | We referenced SEDATU for broader housing policy context affecting Mérida. We used their reports to understand government programs influencing the local market. |
| CANADEVI | The national chamber of housing developers in Mexico representing major builders. | We used CANADEVI reports to understand new construction trends in Mérida. We relied on their data to estimate the new versus existing home price premium. |
| FOVISSSTE | The housing fund for government workers providing mortgage financing data. | We used FOVISSSTE data to understand financing patterns in Mérida. We cross-referenced their average loan amounts with our price estimates for consistency. |
| INFONAVIT | Mexico's largest housing finance institution serving formal sector workers. | We used INFONAVIT data to understand mortgage availability and typical loan sizes in Mérida. We relied on their regional reports to verify entry-level price points. |
| Lamudi Mexico | One of Mexico's largest property listing portals with extensive Mérida coverage. | We used Lamudi listings to verify price ranges across different Mérida neighborhoods. We cross-checked their data against official indices to ensure accuracy. |
| Inmuebles24 | A major Mexican property portal providing listing data and market reports. | We used Inmuebles24 data to understand listing prices and property type distribution in Mérida. We relied on their market reports for neighborhood-level pricing. |
| Vivanuncios | A widely used classifieds platform with property listings across Mexico. | We used Vivanuncios to verify entry-level pricing in Mérida neighborhoods. We cross-referenced their listings with data from other portals for consistency. |
| Segundamano | A popular Mexican marketplace with property listings including resale homes. | We used Segundamano to understand existing home pricing in Mérida. We relied on their listings to verify the gap between new and existing property prices. |
| CONAVI (National Housing Commission) | The federal housing commission overseeing housing policy and statistics in Mexico. | We used CONAVI reports to understand housing production trends in Yucatán. We relied on their data to contextualize supply constraints in Mérida. |
| Local construction industry sources | Regional construction companies providing insight into building costs in Yucatán. | We used local construction industry data to estimate renovation costs in Mérida. We relied on their pricing to calculate all-in costs for different property types. |
| Yucatán Notary Association | The professional association representing notaries who handle property transactions in Yucatán. | We consulted notary fee schedules to estimate closing costs in Mérida. We used their guidelines to calculate realistic notary expenses for different price points. |
| Government of Yucatán | The official state government portal with administrative and policy information. | We used state government sources to understand regional policies affecting Mérida real estate. We relied on their data for property registration procedures and fees. |
| CMIC (Construction Industry Chamber) | The national construction industry chamber representing builders across Mexico. | We used CMIC data to understand construction costs and timelines in Yucatán. We relied on their reports to explain why new supply is slow to respond to demand. |
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