Authored by the expert who managed and guided the team behind the Mexico Property Pack
Yes, the analysis of San Miguel de Allende's property market is included in our pack
This guide covers current rental prices in San Miguel de Allende, from studios to family homes across different neighborhoods.
We constantly update this post with fresh data so you always have accurate rent figures for San Miguel de Allende in 2026.
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 San Miguel de Allende.
Insights
- San Miguel de Allende rents run about 6% higher in January 2026 than a year ago, outpacing Mexico's general inflation due to strong international demand.
- A furnished 1-bedroom in Centro Historico can cost 40% more than an unfurnished unit in outer neighborhoods like La Lejona.
- Vacancy rates in San Miguel de Allende sit around 5% overall, but drop to 3-4% in walkable Centro-adjacent areas.
- Peak rental demand happens twice yearly: October through February for winter visitors, and August-September for relocations.
- The typical rent per square meter in San Miguel de Allende is around MXN 300, notably higher than most Mexican cities outside major metros.
- Well-priced rentals in Centro, Guadalupe, or San Antonio typically find tenants within 20 to 35 days.
- San Miguel de Allende's rental market skews heavily toward furnished units because many tenants are seasonal or international.
- Installing reliable high-speed internet is one of the fastest ways to reduce vacancy time for landlords targeting remote workers.
What are typical rents in San Miguel de Allende as of 2026?
What's the average monthly rent for a studio in San Miguel de Allende as of 2026?
As of early 2026, the average monthly rent for a studio in San Miguel de Allende is around MXN 12,000 (approximately USD 685 or EUR 650).
Most studios fall within MXN 8,500 to MXN 18,000 per month (roughly USD 485 to USD 1,030, or EUR 460 to EUR 970), depending on location and condition.
The main factors pushing studio rents higher are proximity to Centro Historico, furnished status, and features like terraces or rooftop access that appeal to seasonal renters.
What's the average monthly rent for a 1-bedroom in San Miguel de Allende as of 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment in San Miguel de Allende is around MXN 16,500 (approximately USD 940 or EUR 890).
Most 1-bedrooms rent between MXN 11,000 and MXN 24,000 per month (roughly USD 630 to USD 1,370, or EUR 595 to EUR 1,300), with furnished units in prime locations at the higher end.
For 1-bedrooms, you'll find the lowest prices in Arcos de San Miguel and La Lejona, while Centro Historico and Ojo de Agua command the highest rents.
What's the average monthly rent for a 2-bedroom in San Miguel de Allende as of 2026?
As of early 2026, the average monthly rent for a 2-bedroom apartment in San Miguel de Allende is around MXN 25,000 (approximately USD 1,430 or EUR 1,350).
Most 2-bedrooms rent between MXN 16,000 and MXN 38,000 per month (roughly USD 915 to USD 2,170, or EUR 865 to EUR 2,050), with gated communities and amenity-rich buildings at the upper end.
Neighborhoods like La Lejona and Allende offer more affordable 2-bedroom options, while Centro Historico, Atascadero, and Balcones have the priciest inventory.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in San Miguel de Allende.
What's the average rent per square meter in San Miguel de Allende as of 2026?
As of early 2026, the average rent per square meter in San Miguel de Allende is around MXN 300 per month (approximately USD 17 or EUR 16).
Across neighborhoods, rent per square meter ranges from MXN 220 to MXN 420 (roughly USD 12.50 to USD 24, or EUR 12 to EUR 23), with furnished Centro units at the top.
San Miguel de Allende's rent per square meter is higher than regional cities like Queretaro or Leon, though still below premium zones in Mexico City or Monterrey.
Features that push rent per square meter above average include walkability to Centro, rooftop terraces with views, quality furnishings, and reliable high-speed internet.
How much have rents changed year-over-year in San Miguel de Allende in 2026?
As of early 2026, rents in San Miguel de Allende have increased by approximately 6% compared to January 2025.
The main factors driving rent increases include continued international demand, limited supply of walkable Centro-adjacent housing, and general inflation pressures across Mexico.
This year's rent growth is consistent with the previous year's trend, with rents rising faster than Mexico's headline inflation, particularly for furnished units marketed to expats.
What's the outlook for rent growth in San Miguel de Allende in 2026?
As of early 2026, we project rents in San Miguel de Allende will grow between 4% and 8% over the coming year, with a base case around 5-6%.
Key factors likely to influence rent growth include sustained international demand, Mexico's economic trajectory, and the town's appeal for remote workers seeking quality of life at lower costs than U.S. or European destinations.
Neighborhoods like Centro Historico, Guadalupe, and San Antonio are expected to see the strongest rent growth due to walkability and established expat communities.
Risks that could push rent growth below projections include a tourism slowdown, tighter household budgets, or a significant increase in new rental inventory.
We have made this infographic to give you a quick and clear snapshot of the property market in Mexico. 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 rent best in San Miguel de Allende as of 2026?
Which neighborhoods have the highest rents in San Miguel de Allende as of 2026?
As of early 2026, the three neighborhoods with the highest rents in San Miguel de Allende are Centro Historico, Ojo de Agua, and Atascadero, where 1-bedrooms typically start around MXN 20,000 (USD 1,140 or EUR 1,080).
These neighborhoods command premiums because they combine historic charm, hillside views, short walks to the main plaza, and character that appeals to international renters.
The typical tenant profile in these high-rent areas includes international retirees, seasonal snowbirds, and remote workers willing to pay more for walkability and turn-key living.
By the way, we've written a blog article detailing what are the current best areas to invest in property in San Miguel de Allende.
Where do young professionals prefer to rent in San Miguel de Allende right now?
Young professionals in San Miguel de Allende tend to prefer Guadalupe, San Antonio, and Arcos de San Miguel, which balance lifestyle appeal with accessible pricing.
In these neighborhoods, young professionals typically pay MXN 12,000 to MXN 20,000 per month (roughly USD 685 to USD 1,140, or EUR 650 to EUR 1,080) for a 1-bedroom.
What attracts them is the cafe culture, art galleries, reliable internet for remote work, walkable streets, and an international creative community.
By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in San Miguel de Allende.
Where do families prefer to rent in San Miguel de Allende right now?
Families in San Miguel de Allende tend to prefer Zirandaro, La Lejona, and Los Frailes, which offer more space, quieter streets, and amenities like parking and gated access.
In these neighborhoods, 2-3 bedroom homes typically rent between MXN 18,000 and MXN 35,000 per month (roughly USD 1,030 to USD 2,000, or EUR 970 to EUR 1,890).
What makes these areas attractive to families is the combination of larger homes, secure parking, outdoor space, and a calmer rhythm compared to busy Centro.
These neighborhoods also offer proximity to bilingual schools and international educational options, a key consideration for both Mexican and expat families.
Which areas near transit or universities rent faster in San Miguel de Allende in 2026?
As of early 2026, the areas that rent fastest in San Miguel de Allende are Centro Historico, Guadalupe, and San Antonio, all highly walkable and close to main activity nodes.
Well-priced rentals in these areas typically find tenants within 20 to 35 days, compared to 35-60 days for outer neighborhoods or aspirationally priced properties.
Properties within easy walking distance of Centro or creative hubs like Fabrica La Aurora can command a premium of MXN 2,000 to MXN 5,000 per month (roughly USD 115 to USD 285, or EUR 110 to EUR 270).
Which neighborhoods are most popular with expats in San Miguel de Allende right now?
The three neighborhoods most popular with expats in San Miguel de Allende are Centro Historico, San Antonio, and Guadalupe, which form the core of the international community.
Expats typically pay MXN 16,000 to MXN 30,000 per month (roughly USD 915 to USD 1,715, or EUR 865 to EUR 1,620) for furnished 1-2 bedroom apartments in these areas.
What attracts expats is walkability to restaurants and galleries, strong internet infrastructure, English-friendly services, and an established international community.
The most represented nationalities include Americans (by far the largest group), Canadians, and a growing number of Europeans, particularly from the UK and France.
And if you are also an expat, you may want to read our exhaustive guide for expats in San Miguel de Allende.
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Who rents, and what do tenants want in San Miguel de Allende right now?
What tenant profiles dominate rentals in San Miguel de Allende?
The three dominant tenant profiles in San Miguel de Allende are international retirees and seasonal visitors, remote workers and creatives, and Mexican families or professionals relocating from nearby cities.
International seasonal renters make up roughly 35-40% of demand, remote workers and creatives account for 25-30%, and local Mexican renters represent 30-35%.
Each profile seeks different properties: retirees want furnished 1-2 bedrooms near Centro, remote workers prioritize internet and workspace, while Mexican families look for unfurnished 2-3 bedrooms with parking in quieter areas.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in San Miguel de Allende.
Do tenants prefer furnished or unfurnished in San Miguel de Allende?
In San Miguel de Allende, roughly 55-60% of rental demand is for furnished units, significantly higher than most Mexican cities due to the seasonal and international tenant base.
Furnished apartments typically command a premium of MXN 3,000 to MXN 6,000 per month (roughly USD 170 to USD 345, or EUR 160 to EUR 325) compared to unfurnished units.
Tenant profiles preferring furnished rentals include international retirees, snowbirds, remote workers staying 3-12 months, and anyone seeking turn-key living without buying furniture.
Which amenities increase rent the most in San Miguel de Allende?
The five amenities that increase rent most in San Miguel de Allende are walkability to Centro, reliable high-speed internet, a terrace or rooftop with views, secure parking, and included utilities.
Walkability to Centro adds MXN 3,000-5,000/month (USD 170-285), internet adds MXN 1,000-2,000 (USD 57-115), terraces with views add MXN 2,000-4,000 (USD 115-230), parking adds MXN 1,500-2,500 (USD 85-145), and included utilities add MXN 1,000-2,000 (USD 57-115).
In our property pack covering the real estate market in San Miguel de Allende, we cover what are the best investments a landlord can make.
What renovations get the best ROI for rentals in San Miguel de Allende?
The five renovations with best ROI in San Miguel de Allende are installing high-speed internet infrastructure, refreshing the kitchen, updating the bathroom, improving outdoor spaces like terraces, and adding comfort features like ceiling fans and quality hot water.
Internet upgrades cost MXN 5,000-15,000 (USD 285-860) and reduce vacancy significantly, kitchen refreshes cost MXN 30,000-80,000 (USD 1,715-4,570) and support MXN 1,500-3,000/month rent increases, and bathroom updates cost MXN 20,000-50,000 (USD 1,145-2,860) with similar uplift.
Renovations with poor ROI include overly luxurious finishes exceeding tenant expectations, swimming pools (high maintenance relative to rent increase), and extensive structural changes that don't add functional space.
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.
How strong is rental demand in San Miguel de Allende as of 2026?
What's the vacancy rate for rentals in San Miguel de Allende as of 2026?
As of early 2026, the estimated vacancy rate for long-term rentals in San Miguel de Allende is around 5%, indicating a tight but not extremely constrained market.
Across neighborhoods, vacancy rates range from 3-4% in prime walkable areas like Centro and Guadalupe to 6-8% in outer communities like Los Frailes.
Compared to historical averages, current vacancy is on the lower end, reflecting sustained demand from international seasonal renters and Mexican professionals relocating to the Bajio region.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in San Miguel de Allende.
How many days do rentals stay listed in San Miguel de Allende as of 2026?
As of early 2026, rentals in San Miguel de Allende stay listed for an average of about 30 days, though this varies significantly by location and pricing.
Days on market range from 20-35 days for well-priced units in Centro, Guadalupe, or San Antonio, to 35-60 days for outer areas or above-market pricing.
Compared to one year ago, days-on-market is roughly similar, suggesting stable demand keeping pace with new inventory.
Which months have peak tenant demand in San Miguel de Allende?
Peak tenant demand in San Miguel de Allende happens during October through February (when international winter visitors arrive) and August through September (relocations and back-to-routine moves).
Factors driving this pattern include the town's appeal as a winter destination for North American retirees, Mexican academic and work calendars, and major cultural festivals drawing longer-stay visitors.
The months with lowest demand are typically May through July, when rainy season onset, heat, and winter visitor departures create a natural market lull.
Buying real estate in San Miguel de Allende can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
What will my monthly costs be in San Miguel de Allende as of 2026?
What property taxes should landlords expect in San Miguel de Allende as of 2026?
As of early 2026, landlords in San Miguel de Allende should expect annual property taxes (predial) typically ranging from MXN 3,000 to MXN 15,000 per year (roughly USD 170 to USD 860, or EUR 160 to EUR 810).
Depending on property value and location, predial can range from under MXN 2,000/year for modest homes to MXN 30,000+ (USD 1,715+) for larger, higher-value properties.
Property taxes are calculated based on cadastral value assigned by the municipality, which is often lower than market value, with rates set annually in the municipal revenue law.
Please note that, in our property pack covering the real estate market in San Miguel de Allende, we cover what exemptions or deductions may be available to reduce property taxes for landlords.
What utilities do landlords often pay in San Miguel de Allende right now?
The utilities landlords most commonly pay in San Miguel de Allende are water, internet, and sometimes gas, particularly for furnished rentals marketed to international tenants expecting all-inclusive arrangements.
Monthly costs typically run MXN 500-1,000 (USD 30-60) for water, MXN 600-1,200 (USD 35-70) for internet, and MXN 400-800 (USD 23-46) for gas, though electricity is usually the tenant's responsibility.
Common practice varies: furnished expat-oriented rentals usually include water and internet, while unfurnished local-market rentals more often have tenants paying utilities directly.
How is rental income taxed in San Miguel de Allende as of 2026?
As of early 2026, rental income in San Miguel de Allende is taxed under Mexico's federal "Regimen de Arrendamiento," with progressive rates ranging from 1.92% to 35% depending on total taxable income.
Main deductions landlords can claim include property taxes (predial), maintenance costs, insurance premiums, and a "blind deduction" option of 35% of gross rent that simplifies reporting.
A common mistake specific to San Miguel de Allende landlords is failing to account for VAT (IVA) implications when renting furnished properties with services, since bundled arrangements can trigger different tax treatment.
We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in San Miguel de Allende.
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 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 San Miguel de Allende, 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 |
|---|---|---|
| INEGI INPC Bulletin | INEGI is Mexico's official statistics agency, and the INPC is the country's headline inflation benchmark. | We used it to anchor normal price growth in Mexico heading into 2026. We cross-checked rent-change estimates against official inflation trends. |
| INEGI Census 2020 | The Census is the most comprehensive official snapshot of households and housing stock in Mexico. | We used it to frame who lives in San Miguel de Allende and housing usage patterns. We kept tenant-profile claims consistent with local demographics. |
| Banco de Mexico FIX | Banxico is Mexico's central bank and FIX is the standard for MXN/USD conversions. | We used it to express rents in MXN and USD with a defensible reference. We tied USD rent discussions to an official exchange-rate concept. |
| SAT Arrendamiento Portal | SAT is the federal tax authority, the primary source for landlord tax obligations. | We used it to describe landlord declarations and how the rental regime works. We aligned the costs section with official rules. |
| Federal VAT Law | This is the official published text of federal law, hosted by Mexico's legislature. | We used it to ground VAT treatment for leasing. We avoided relying on blogs for VAT-exemption claims. |
| San Miguel de Allende Municipal Revenue Law 2025 | Municipal revenue laws are the official basis for local charges and fiscal structure. | We used it to ground property tax information with a primary legal document. We supported landlord-costs discussion with official data. |
| INFONAVIT Annual Housing Report 2025 | INFONAVIT is a core national housing institution with high-quality sector reports. | We used it to frame Mexico-wide rental-market structure as context. We sanity-checked rent-growth assumptions against a national authority lens. |
| CONEVAL Housing Diagnostic | CONEVAL is a federal evaluation body with strong housing and social policy measurement credentials. | We used it to frame tenant needs around affordability and adequacy. We kept recommendations realistic for non-professional readers. |
| SECTUR DataTur | DataTur is Mexico's official tourism statistics platform for seasonality signals. | We used it to identify high/low season rhythms affecting rental demand. We supported timing analysis with official data. |
| Observatorio Turistico (Guanajuato) | It's a tourism-intelligence source citing SECTUR/Datatur with structured local indicators. | We used it to triangulate seasonality specific to San Miguel de Allende. We complemented national DataTur with local insights. |
| Inmuebles24 | One of Mexico's largest property portals with extensive comparable listing data. | We used it to sample asking rents by unit type and neighborhood. We estimated typical rents rather than cherry-picking ads. |
| Lamudi | An established portal providing independent listings for cross-checking prices. | We used it to validate rent levels and spot outliers. We made neighborhood examples more robust with multiple sources. |
| Vivanuncios | A major classifieds marketplace helpful for breadth and price dispersion. | We used it to widen our sample, especially for mid-market inventory. We ensured rent ranges weren't biased toward premium agencies. |
| Propiedades.com | A mainstream portal with structured listing attributes for comparability. | We used it to confirm price points and sanity-check USD-denominated listings. We supported rent-per-square-meter estimates with size-tagged data. |
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