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Get all the data you need about the real estate market in Montevideo
We constantly update this blog post so buyers can follow rents in Montevideo with fresh 2026 data.
Montevideo is Uruguay’s deepest rental market, with demand from local workers, students, families and expats.
This guide focuses only on residential property, so studios, 1-bedroom apartments, 2-bedroom apartments and family rentals are the main focus.
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.
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 2026, the average monthly rent for a studio in Montevideo is about UYU 23,000, which is roughly USD 575 or EUR 530.
Most studios in Montevideo in 2026 rent for about UYU 19,000 to UYU 26,000 per month, which is roughly USD 475 to USD 650 or EUR 435 to EUR 600.
The main reason studio rents in Montevideo vary so much is that a small unit in Cordón, Centro or Tres Cruces does not rent like a studio near the Rambla in Pocitos, Punta Carretas, Malvín or Puerto del Buceo.
What's the average monthly rent for a 1-bedroom in Montevideo as of 2026?
As of 2026, the average monthly rent for a 1-bedroom apartment in Montevideo is about UYU 28,000, which is roughly USD 700 or EUR 645.
Most 1-bedroom apartments in Montevideo in 2026 rent for about UYU 24,000 to UYU 32,000 per month, which is roughly USD 600 to USD 800 or EUR 550 to EUR 735.
The cheapest 1-bedroom rents in Montevideo are usually found in Centro, Aguada, La Blanqueada and parts of Cordón, while Pocitos, Punta Carretas, Puerto del Buceo, Malvín and Carrasco sit at the top end.
What's the average monthly rent for a 2-bedroom in Montevideo as of 2026?
As of 2026, the average monthly rent for a 2-bedroom apartment in Montevideo is about UYU 36,000, which is roughly USD 900 or EUR 830.
Most 2-bedroom apartments in Montevideo in 2026 rent for about UYU 28,000 to UYU 50,000 per month, which is roughly USD 700 to USD 1,250 or EUR 645 to EUR 1,150.
The cheapest 2-bedroom rents in Montevideo are usually in Centro, Cordón, Tres Cruces, La Blanqueada and parts of Buceo, while Pocitos, Punta Carretas, Malvín, Puerto del Buceo, Punta Gorda and Carrasco are the most expensive.
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 2026, the average rent per square meter in Montevideo is about UYU 650 per m² per month, which is roughly USD 16 or EUR 15.
Across Montevideo neighborhoods in 2026, most apartments rent for about UYU 500 to UYU 1,000 per m² per month, which is roughly USD 12 to USD 25 or EUR 12 to EUR 23.
Compared with Punta del Este and other prime coastal markets in Uruguay, Montevideo usually looks more stable and less seasonal, because Montevideo rental demand comes from daily life, work, study and services.
Small furnished apartments, newer buildings, sea views, Rambla access, garage spaces and low common expenses usually push Montevideo rent per square meter above the city average.
How much have rents changed year-over-year in Montevideo in 2026?
As of 2026, average rents in Montevideo are estimated to be about 5% to 7% higher than one year earlier in nominal pesos.
The main drivers of rent growth in Montevideo in 2026 are wage adjustments, moderate inflation, stable formal employment, university demand and stronger asking rents in Pocitos, Cordón, Parque Rodó, Buceo and Malvín.
This 2026 rent growth looks a little stronger than the growth visible in older active contracts, because new asking rents move faster than contracts already signed in the INE rental series.
What's the outlook for rent growth in Montevideo in 2026?
As of 2026, rent growth in Montevideo is expected to finish the year around 4% to 6% in nominal pesos.
The key factors for Montevideo rent growth are moderate GDP growth, wage trends, contained inflation, student demand, household formation and the limited supply of well-located modern apartments.
The strongest rent growth in Montevideo is expected in Pocitos, Punta Carretas, Cordón, Parque Rodó, Buceo and Malvín, because these areas mix lifestyle, jobs, universities, hospitals and transport.
The main risk is that slower wage growth, weaker hiring, higher common expenses or too many expensive new listings could make Montevideo rents grow less than expected.
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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 2026, the top three high-rent apartment areas in Montevideo are Punta Carretas, Pocitos and Puerto del Buceo, where many good 1-bedroom and 2-bedroom units rent from about UYU 35,000 to UYU 55,000 per month, or roughly USD 875 to USD 1,375 and EUR 805 to EUR 1,265.
These Montevideo neighborhoods command premium rents because tenants pay for Rambla access, newer buildings, cafés, supermarkets, gyms, offices, clinics, safety perception and short travel times.
The usual tenant profile in high-rent Montevideo neighborhoods is a professional couple, an expat, a senior worker, a small family or a tenant who wants a garage and a better building.
By the way, we’ve written a blog article detailing Sources and methodology: we checked neighborhood depth on Mercado Libre Pocitos, Mercado Libre Punta Carretas and Gallito.
Where do young professionals prefer to rent in Montevideo right now?
Young professionals in Montevideo tend to prefer Cordón, Pocitos and Parque Rodó, with Centro, Palermo, Tres Cruces and Buceo also very active choices.
Young professionals usually pay about UYU 22,000 to UYU 35,000 per month in these Montevideo neighborhoods, which is roughly USD 550 to USD 875 or EUR 505 to EUR 805.
Young professionals like these Montevideo areas because cafés, buses, universities, offices, gyms, nightlife, the Rambla and daily services are close enough to make life easy without needing a car.
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?
Families in Montevideo usually prefer Malvín, Pocitos and Carrasco, while Punta Gorda, Buceo, Parque Batlle, Prado and La Blanqueada are also important family rental areas.
Families usually pay about UYU 36,000 to UYU 70,000 per month for 2-bedroom and 3-bedroom apartments in these Montevideo neighborhoods, which is roughly USD 900 to USD 1,750 or EUR 830 to EUR 1,610.
These Montevideo neighborhoods work well for families because apartments are larger, garages are more common, streets can feel calmer, schools are nearby and daily services are easy to reach.
Educational options near these family areas include The British Schools in Carrasco, Scuola Italiana near Carrasco, Lycée Français Jules Supervielle in Carrasco and several private and public schools around Pocitos, Malvín and Parque Batlle.
Which areas near transit or universities rent faster in Montevideo in 2026?
As of 2026, the fastest-renting areas near transit and universities in Montevideo are Cordón, Tres Cruces and Parque Rodó, with Centro and La Blanqueada also moving quickly when prices are fair.
Correctly priced rentals in these high-demand Montevideo areas often stay listed for about 10 to 25 days, while overpriced or high-common-expense units can take much longer.
Being near Avenida 18 de Julio, Bulevar Artigas, Avenida Italia, Tres Cruces terminal or Udelar faculties can add about UYU 2,000 to UYU 5,000 per month to rent, which is roughly USD 50 to USD 125 or EUR 45 to EUR 115.
Which neighborhoods are most popular with expats in Montevideo right now?
The top three expat rental neighborhoods in Montevideo are Pocitos, Punta Carretas and Ciudad Vieja, with Parque Rodó, Cordón, Carrasco, Malvín and Buceo also popular.
Expats in these Montevideo neighborhoods usually pay about UYU 30,000 to UYU 60,000 per month, which is roughly USD 750 to USD 1,500 or EUR 690 to EUR 1,380.
Expats like these Montevideo areas because the neighborhoods offer walkability, cafés, furnished apartments, sea access, daily services, international feel and easy orientation for newcomers.
The most visible expat groups in Montevideo tend to include Argentines, Brazilians, Europeans and North Americans, although the rental market remains mostly local Uruguayan demand.
And if you are also an expat, you may want to read our Sources and methodology: we reviewed furnished and coastal listings on Mercado Libre Uruguay, cross-checked Gallito and used our own expat-focused Montevideo observations.
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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 in Montevideo are local workers and couples, students and young professionals, and families looking for 2-bedroom or 3-bedroom apartments.
As a practical 2026 estimate, local workers and couples represent about 45% of Montevideo rental demand, students and young professionals about 30%, and families about 20%, with expats and temporary renters making up most of the rest.
Local workers and couples usually seek studios and 1-bedroom apartments, students focus on small units near Cordón, Parque Rodó and Tres Cruces, and families look for 2-bedroom or 3-bedroom homes in Malvín, Pocitos, Buceo, La Blanqueada, Parque Batlle and Carrasco.
If you want to optimize your cashflow, you can read our Sources and methodology: we used INE Uruguay, university demand from Udelar and listing patterns from Gallito.
Do tenants prefer furnished or unfurnished in Montevideo?
In Montevideo, around 70% to 80% of long-term tenants prefer unfurnished or semi-equipped rentals, while around 20% to 30% prefer furnished rentals.
Furnished apartments in Montevideo usually rent for about UYU 3,000 to UYU 8,000 more per month than similar unfurnished apartments, which is roughly USD 75 to USD 200 or EUR 70 to EUR 185.
Furnished rentals in Montevideo mostly attract expats, students, remote workers, temporary professionals and people arriving from another city who want to avoid buying furniture.
Which amenities increase rent the most in Montevideo?
The five amenities that raise rent the most in Montevideo are a garage, a balcony or terrace, air conditioning, a sea view or Rambla location, and modern kitchen or bathroom finishes.
In Montevideo, a garage can add UYU 4,000 to UYU 8,000 per month, a balcony or terrace UYU 2,000 to UYU 5,000, air conditioning UYU 1,500 to UYU 4,000, a sea view or Rambla location UYU 5,000 to UYU 12,000, and modern finishes UYU 3,000 to UYU 7,000, equal to about USD 40 to USD 300 or EUR 35 to EUR 275 depending on the feature.
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 five best rental renovations in Montevideo are repainting, better lighting, kitchen refreshes, bathroom modernization and adding or improving air conditioning.
In Montevideo, repainting can cost UYU 25,000 to UYU 60,000 and add UYU 1,000 to UYU 3,000 monthly rent, lighting can cost UYU 10,000 to UYU 35,000 and add UYU 500 to UYU 2,000, kitchen refreshes can cost UYU 80,000 to UYU 250,000 and add UYU 3,000 to UYU 7,000, bathroom work can cost UYU 100,000 to UYU 300,000 and add UYU 3,000 to UYU 8,000, and air conditioning can cost UYU 25,000 to UYU 60,000 and add UYU 1,500 to UYU 4,000, equal to roughly USD 250 to USD 7,500 or EUR 230 to EUR 6,900 for the work depending on scope.
Luxury finishes, very expensive furniture, unusual design choices and renovations that increase common expenses often have poor ROI in Montevideo unless the apartment is in Pocitos, Punta Carretas, Puerto del Buceo, Carrasco or Malvín near the Rambla.
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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 2026, the market-ready long-term rental vacancy rate in Montevideo is estimated at about 3% to 5%.
Vacancy in Montevideo can be around 2% to 4% for well-priced units in Pocitos, Punta Carretas, Cordón and Parque Rodó, but around 5% to 7% for older, overpriced or high-common-expense apartments.
Compared with the broader census figure for unoccupied dwellings, current rental vacancy in Montevideo is lower because many empty homes are not actually available as long-term rentals.
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 2026, a correctly priced apartment rental in Montevideo usually stays listed for about 20 to 35 days.
The realistic range is about 10 to 20 days for good studios and 1-bedroom units in Cordón, Pocitos, Parque Rodó and Tres Cruces, and about 45 to 75 days for overpriced premium units or older family apartments.
Compared with one year ago, days on market in Montevideo look broadly stable, but well-priced small units move faster because tenants remain very sensitive to rent plus common expenses.
Which months have peak tenant demand in Montevideo?
The peak months for tenant demand in Montevideo are February, March, July and August.
February and March are strong because university courses, job moves and post-summer decisions start, while July and August bring mid-year moves, renewals and student demand.
The lowest long-term rental demand in Montevideo usually appears in December and January, when many people focus on holidays, summer travel and coastal destinations rather than signing a city lease.
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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 2026, a typical Montevideo apartment landlord should expect annual property tax of about UYU 25,000 to UYU 80,000, which is roughly USD 625 to USD 2,000 or EUR 575 to EUR 1,840.
The realistic range can be below UYU 25,000 for a modest apartment and above UYU 100,000 for a larger or prime coastal apartment, which is roughly below USD 625 and above USD 2,500 or below EUR 575 and above EUR 2,300.
Montevideo property tax is based on the fiscal value of the property and a progressive municipal rate, so location, size, fiscal valuation and property category all matter.
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 tax, building owner charges, insurance, major repairs and common expenses during vacancy, while tenants usually pay day-to-day electricity, internet, gas and water when separately billed.
For a normal Montevideo apartment, landlord-paid monthly costs often equal about UYU 4,500 to UYU 7,500 before income tax on a UYU 30,000 rent, which is roughly USD 110 to USD 190 or EUR 105 to EUR 170.
The common practice in Montevideo is that tenants compare the total monthly cost, so landlords must watch gastos comunes because high common expenses can make a rental feel expensive even when the headline rent looks fair.
How is rental income taxed in Montevideo as of 2026?
As of 2026, an individual landlord in Montevideo usually pays national tax on rental income under IRPF, and a simple planning estimate is about 10.5% of gross rent after the standard expense deduction.
The main deduction for a simple individual landlord is the standard 10% expense deduction before the 12% capital-income rate, while corporate, non-resident or special structures can follow different rules.
Common Montevideo landlord mistakes include confusing municipal property tax with national rental income tax, ignoring gastos comunes during vacancy and using asking rent instead of signed rent when estimating taxable income.
We cover these mistakes, among others, in our Sources and methodology: we relied on DGI Uruguay rental income guidance, municipal tax rules from Intendencia de Montevideo and our Montevideo landlord cashflow model.
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 this source matters | How we used this source |
|---|---|---|
| INE Uruguay, IAI Mercado de Alquileres | INE Uruguay is the official statistics office, so its rent data is the best public baseline for formal contracts. | We used INE as the anchor for Montevideo rent levels, contract counts and rent growth. We adjusted the result upward when needed because active contracts can lag current asking rents. |
| INE Uruguay, January 2026 rental bulletin | This bulletin explains the official rental sample, coverage and methodology in a practical way. | We used the bulletin to understand what the INE series includes. We treated its Montevideo contract data as a strong baseline, not as a perfect snapshot of today’s asking rents. |
| INE Uruguay, consumer price index | This is Uruguay’s official inflation source, so it helps compare rent growth with general price growth. | We used it to check whether Montevideo rents are rising faster or slower than inflation. We used inflation as context, not as a direct rent estimate. |
| MEF Uruguay, SGA indicators | The Ministry of Economy and Finance is an official source for rental adjustment indicators. | We used it to understand the indexed rent adjustment environment in Uruguay. We used it to avoid relying only on asking-price portals. |
| Caja Notarial, rental adjustment index | Caja Notarial publishes monthly rent adjustment coefficients used by many market participants. | We used the index to estimate renewal pressure in 2026. We compared the coefficient with INE rent growth and portal asking rents. |
| Intendencia de Montevideo, property tax page | The Intendencia is the municipal authority that charges property tax in Montevideo. | We used it to explain the landlord property tax obligation. We used the city’s official rules rather than private summaries. |
| Intendencia de Montevideo, tax calculation document | This official document gives the progressive structure used for urban and suburban property tax. | We used it to estimate realistic annual property tax ranges. We applied the rate logic to typical apartment values instead of using one flat number. |
| DGI Uruguay, rental income tax | DGI is Uruguay’s national tax authority, so it is the right source for rental income tax rules. | We used DGI to explain how rental income is taxed for individual landlords. We kept the explanation simple and separated income tax from municipal property tax. |
| INE Uruguay, Censo 2023 vacant dwellings | This is the official census source for occupied and unoccupied dwellings in Uruguay. | We used it to understand structural vacancy in Montevideo. We did not treat every empty dwelling as a rental vacancy because many empty homes are not offered for rent. |
| World Bank, Uruguay Macro Poverty Outlook April 2026 | The World Bank provides a respected international view of Uruguay’s economy. | We used it for GDP, inflation and wage context in 2026. We used macro data to keep rent forecasts realistic. |
| Banco Central del Uruguay | Uruguay’s central bank is a key reference for monetary conditions, inflation expectations and peso context. | We used it as a macro support source. We did not use the central bank as a direct rent source. |
| Udelar | Udelar is Uruguay’s main public university and a major driver of student rental demand in Montevideo. | We used Udelar to identify student-driven rental areas. We cross-checked these areas with listing density and transport access. |
| Intendencia de Montevideo, Cómo ir | This is the official city transit planner for Montevideo. | We used it to identify areas where bus access supports faster letting. We linked this to central corridors, universities and coastal neighborhoods. |
| Mercado Libre Uruguay rentals | Mercado Libre is one of the largest active rental listing platforms in Uruguay. | We used it to observe current asking rents by unit size and neighborhood. We discounted outliers because asking rents are not the same as signed rents. |
| Gallito rentals | Gallito is an established Uruguayan classifieds platform with many Montevideo rental listings. | We used it as a second private-market check on asking rents. We used it especially for neighborhood ranges and 2-bedroom apartment evidence. |
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