Summary
Only in pesos: leases that renewed in September 2026 went up 4.55% by law (INE coefficient), which is just below inflation (4.68%), while new asking rents in Montevideo were 3.91% lower in August 2026 than a year earlier. In real terms, rents in Uruguay are flat, and slightly down for new tenants.
The average signed lease in Uruguay is UYU 22,413 (about USD 560 or EUR 500) a month (INE, August 2026, 150,909 contracts, all sizes). New listings in Montevideo ask more: UYU 23,329 for a studio, UYU 29,368 for a 1-bedroom and UYU 40,065 for a 2-bedroom (Gallito, August 2026).
Location matters more than the national average. The median 1-bedroom asks UYU 24,900 in Centro and UYU 38,250 in Carrasco (October 2026), and the average apartment asks UYU 78,485 in Carrasco against UYU 16,457 in Maroñas.
For the next 12 months, we expect sitting tenants to keep paying about 4% to 5% more at each renewal, in line with inflation, and new asking rents to stay between flat and +3% (our estimate).
Most tenants are local salaried workers, and paperwork beats price: a tenant with an ANDA, CGN or insurer guarantee usually wins over one offering more rent. The CGN charges the landlord a 3% commission on the rent.
Furnished flats are a niche (10% to 20% of long-term demand, our estimate), but they can add UYU 4,000 to UYU 10,000 a month in Pocitos, Punta Carretas, Ciudad Vieja or Parque Rodó.
Demand is steady rather than hot: we estimate long-term vacancy at 4% to 6% for normal Montevideo flats, and the best months to find a tenant are February to April.
At renewal, a UYU 30,000 rent rises by UYU 1,365 with the September 2026 coefficient. Leases signed under the no-guarantee regime of Law 19.889 follow whatever currency and adjustment the contract says.
Punta del Este plays by other rules: brokers quoted by El Cronista expect summer 2026-27 rents 10% to 20% higher in dollars, Forbes Argentina a season similar to the last one with a shorter peak, and the average Airbnb there was only booked 34.6% of the year at USD 192 a night (AirROI).
Set aside 20% to 30% of the rent for vacancy, repairs and charges. Building fees (gastos comunes) run from UYU 3,000 to UYU 25,000 a month for a 2-bedroom, and the owner pays them when the flat is empty.
Rental income is taxed at 12% of the taxable amount, with a 10.5% advance on gross rent. A 6.1% gross yield (median of Montevideo barrios, INGAR) ends up at about 4% net after tax and costs.
Our advice: price a new lease from today's listings, not from last year's rent plus the coefficient, and only buy to let if the flat shows at least 6% gross.
What do studios, 1- and 2-bedrooms rent for in Uruguay?
The average signed lease in Uruguay is UYU 22,413 (about USD 560 or EUR 500) a month, across 150,909 active contracts of all sizes (INE, August 2026). That figure mixes Montevideo with cheaper interior towns, and old leases with new ones.
New listings in Montevideo, where most foreign landlords buy, ask more: UYU 23,329 for a studio, UYU 29,368 for a 1-bedroom and UYU 40,065 for a 2-bedroom (Inmuebles Data–Gallito, August 2026, asking rents without building fees).
| Montevideo area | 1-bedroom (median asking) | 2-bedroom (median asking) |
|---|---|---|
| Centro | UYU 24,900 (about USD 620) | UYU 30,000 (about USD 750) |
| Buceo | UYU 25,000 (about USD 625) | UYU 33,700 (about USD 840) |
| Cordón | UYU 27,000 (about USD 675) | UYU 33,900 (about USD 845) |
| Parque Rodó | UYU 28,000 (about USD 700) | UYU 36,550 (about USD 910) |
| Pocitos | UYU 29,000 (about USD 725) | UYU 40,250 (about USD 1,000) |
| Malvín | UYU 29,000 (about USD 725) | UYU 40,000 (about USD 1,000) |
| Punta Carretas | UYU 34,500 (about USD 860) | UYU 42,000 (about USD 1,050) |
| Carrasco | UYU 38,250 (about USD 955) | UYU 50,000 (about USD 1,250) |
What's the average monthly rent for a studio?
A studio in Montevideo asks UYU 23,329 (about USD 580 or EUR 520) on average (Gallito, August 2026).
Most studios rent for UYU 19,000 to UYU 30,000 (about USD 475 to USD 750, or EUR 420 to EUR 665) (our estimate). The cheap end is Centro, Cordón, Aguada and La Blanqueada, and interior towns sit below that range; the top end is new buildings in Pocitos, Punta Carretas and Buceo.
What's the average monthly rent for a 1-bedroom?
A 1-bedroom in Montevideo asks UYU 29,368 (about USD 730 or EUR 655) on average (Gallito, August 2026).
Most 1-bedrooms rent for UYU 24,000 to UYU 35,000 (about USD 600 to USD 875, or EUR 535 to EUR 780). The median goes from UYU 24,900 in Centro and UYU 27,000 in Cordón to UYU 34,500 in Punta Carretas and UYU 38,250 in Carrasco (Cambio Uruguay, October 2026).
Outside the capital, a year-round 1-bedroom in Maldonado city lists for UYU 19,000 to UYU 28,000 (about USD 475 to USD 700) (InfoCasas, September 2026).
What's the average monthly rent for a 2-bedroom?
A 2-bedroom in Montevideo asks UYU 40,065 (about USD 1,000 or EUR 890) on average (Gallito, August 2026).
Most 2-bedrooms rent for UYU 30,000 to UYU 50,000 (about USD 750 to USD 1,250, or EUR 665 to EUR 1,110). The median is UYU 30,000 in Centro, about UYU 40,000 in Pocitos and Malvín, and UYU 50,000 in Carrasco (Cambio Uruguay, October 2026). Big flats with a garage and sea views in Carrasco or Puerto Buceo go well above that.
In Maldonado city, year-round 2-bedrooms list for UYU 23,500 to UYU 45,000 (about USD 585 to USD 1,120) (InfoCasas, September 2026).
What's the average rent per square meter?
In Montevideo, a normal flat asks about UYU 600 to UYU 670 per m² a month, or about USD 15 to USD 17 and EUR 13 to EUR 15 per m² (our estimate).
We got there by dividing Gallito's August 2026 averages by usual sizes: UYU 23,329 for a 35 m² studio, UYU 29,368 for a 45 m² 1-bedroom and UYU 40,065 for a 65 m² 2-bedroom. Interior towns rent for less per m².
Small modern units, Rambla proximity, a garage, a balcony, good light, air conditioning and low building fees push rent per m² above that.
How much have rents changed over the past year?
It depends on whether you look at existing leases or new ones.
Existing leases go up once a year by the INE adjustment coefficient: 4.27% for leases renewing in August 2026 and 4.55% for September. Inflation was 4.68% over the 12 months to September 2026, so landlords are only keeping up with prices.
New listings tell a softer story. In Montevideo, average asking rents were 3.91% lower in August 2026 than in August 2025, even if they rose 0.7% from July (Inmuebles Data–Gallito). The number of active contracts also slipped 1.33% between July and August (INE).
So rents are still rising in pesos for sitting tenants, but not in real terms, and a new tenant pays a bit less than a year ago. The peso has been stable at about 40.1 to 40.3 per dollar since August, so dollar figures tell the same story.
What's the outlook for rents in Uruguay over the next 12 months?
We expect existing leases to keep rising about 4% to 5% a year, because the coefficient follows inflation, and new asking rents to stay between flat and +3% (our estimate).
What supports rents: indexation, steady jobs, students and young couples moving out, and demand for small flats near the Rambla. What holds them back: plenty of new promoted-housing (vivienda promovida) flats coming to the rental market in Cordón, Centro, La Blanqueada and Buceo, and tenants who are already stretched.
The areas most likely to beat the average are Pocitos, Punta Carretas, Parque Rodó, Cordón and the year-round parts of Maldonado and Punta del Este. The main risks are weaker household incomes and too many new flats in a few Montevideo barrios.
Starting a Rental in Uruguay
Which neighborhoods rent best in Uruguay?
The best rental areas are mostly in Montevideo: Pocitos, Punta Carretas, Cordón, Parque Rodó, Buceo, Malvín, La Blanqueada and Tres Cruces.
Outside Montevideo, steady long-term demand is mainly in Ciudad de la Costa, Solymar, Lagomar, El Pinar, Maldonado city and the year-round parts of Punta del Este.
Which neighborhoods have the highest rents?
Carrasco, Golf, Puerto Buceo and Punta Carretas top the list. In August 2026 the average apartment asked UYU 78,485 in Carrasco, UYU 77,038 in Golf, UYU 66,942 in Puerto Buceo and UYU 49,915 in Punta Carretas, against UYU 40,653 in Pocitos (Inmuebles Data–Gallito).
At the other end, the cheapest barrios were Maroñas (UYU 16,457), Colón (UYU 17,518) and La Teja (UYU 18,487).
Tenants pay more in the top areas for safer-feeling streets, better buildings, the sea, schools and parking. They are mostly higher-income local families, executives, diplomats and expats. We compare the areas from a buyer's angle in our article on the best areas to invest in property in Uruguay.
Where do young professionals prefer to rent in Uruguay right now?
Pocitos, Cordón and Parque Rodó come first, followed by Centro, Punta Carretas, Buceo and Tres Cruces.
They usually pay UYU 24,000 to UYU 35,000 (about USD 600 to USD 875, or EUR 535 to EUR 780) for a studio or 1-bedroom, in line with the 1-bedroom medians of UYU 27,000 in Cordón, UYU 28,000 in Parque Rodó and UYU 29,000 in Pocitos.
They want short commutes, cafés, gyms, universities, good buses and streets they can walk.
Where do families prefer to rent in Uruguay right now?
Carrasco, Malvín and Ciudad de la Costa come first, with Punta Gorda, Parque Batlle, La Blanqueada, Prado, Solymar, Lagomar and El Pinar close behind.
Families usually pay UYU 38,000 to UYU 75,000 (about USD 950 to USD 1,870, or EUR 845 to EUR 1,670) for a 2- or 3-bedroom. The average 3-bedroom in Montevideo asks UYU 70,828 (Gallito, August 2026).
They come for space, calmer streets, parking, parks, beaches and schools such as The British Schools, Uruguayan American School, Scuola Italiana di Montevideo and Lycée Français Jules Supervielle.
Which areas near transit or universities rent faster?
Cordón, Parque Rodó and Tres Cruces rent fastest, followed by Centro, La Blanqueada, Aguada and Ciudad Vieja.
In these areas, a well-priced small flat often finds a tenant in 15 to 30 days, while overpriced ones sit much longer (our estimate).
Being close to the universities, the main bus corridors or Tres Cruces can add UYU 2,000 to UYU 5,000 (about USD 50 to USD 125, or EUR 44 to EUR 110) a month compared with a similar flat in a less handy spot.
Which neighborhoods are most popular with expats in Uruguay right now?
Pocitos, Punta Carretas and Carrasco come first, with Ciudad Vieja, Parque Rodó, Buceo, Punta del Este and Atlántida also popular.
Expats usually pay UYU 32,000 to UYU 80,000 (about USD 800 to USD 2,000, or EUR 710 to EUR 1,780) depending on size and furniture. In Punta del Este, a 1-bedroom on an annual lease on the Península lists for USD 1,000 to USD 1,100 (about UYU 40,100 to UYU 44,100) (InfoCasas, September 2026).
They come for walkable streets, the sea, international schools, restaurants and furnished options. The most visible groups are Argentinians, Brazilians, Americans and Europeans, but locals still make up most long-term tenants. If you are moving yourself, read our guide for expats in Uruguay.
70+pagesWho rents, and what do tenants want in Uruguay right now?
Rental demand in Uruguay is mostly local, salaried and practical. Expats and remote workers show up in coastal and premium areas, but they are a minority.
The local quirk is the rental guarantee: a tenant with a clean ANDA, CGN or insurer guarantee often beats one offering more rent without one. The CGN guarantee costs the landlord a 3% commission on the rent.
What tenant profiles dominate rentals?
Local salaried workers, young professionals and students, and small families make up most of the market.
Our estimate: local workers are about 45% of demand, young professionals and students about 30%, small families about 20%, and expats and others the rest.
Workers look for studios and 1-bedrooms, students and young professionals for small flats in central Montevideo, and families for 2- or 3-bedrooms in Malvín, Carrasco, Parque Batlle, Prado or Ciudad de la Costa. We go through the numbers of a buy-to-let in our guide on how to buy and rent out in Uruguay.
Do tenants prefer furnished or unfurnished?
Most do not want furniture: we estimate 80% to 90% of long-term tenants look for unfurnished flats.
A furnished flat can rent for UYU 4,000 to UYU 10,000 (about USD 100 to USD 250, or EUR 89 to EUR 220) more a month, but only where furnished demand exists: Pocitos, Punta Carretas, Ciudad Vieja, Parque Rodó and Punta del Este.
That demand comes from expats, company tenants, students and people between two homes.
Which amenities increase rent the most?
The five that matter most are a garage, a balcony or terrace, air conditioning, a doorman or security, and being near the sea or the Rambla.
In Montevideo, a garage can add UYU 3,000 to UYU 6,000 a month, a balcony UYU 2,000 to UYU 5,000, air conditioning UYU 1,000 to UYU 3,000, security UYU 2,000 to UYU 5,000 and sea proximity UYU 4,000 to UYU 10,000 (our estimate). That is about USD 25 to USD 250, or EUR 22 to EUR 220, depending on the feature.
What renovations get the best ROI for rentals?
The five that pay back best are paint and damp repair, a kitchen refresh, a bathroom update, air conditioning, and better lighting with better photos.
For a small Montevideo flat, these cost UYU 20,000 to UYU 250,000 (about USD 500 to USD 6,230, or EUR 445 to EUR 5,560) in total and can add UYU 1,000 to UYU 8,000 a month if the area supports it (our estimate).
Skip luxury finishes in average areas, custom furniture, oversized appliances and anything that raises building fees more than rent.
70+pagesHow strong is rental demand in Uruguay right now?
Demand is solid and local, but not strong enough to rent any flat at any price: new asking rents in Montevideo are 3.91% lower than a year ago.
The best demand is for well-priced small and medium flats in Montevideo, Ciudad de la Costa and year-round Maldonado.
What's the vacancy rate for rentals?
No official vacancy rate exists. Our estimate is 6% to 10% nationally, and 4% to 6% for normal flats in Montevideo.
Pocitos, Punta Carretas, Cordón and Buceo can be closer to 3% to 5%, while weak interior towns and seasonal areas can be above 10%.
That looks normal, not distressed: good flats still rent, overpriced or tired ones wait.
How many days do rentals stay listed?
A well-priced flat usually stays listed for 25 to 40 days (our estimate).
The best small units in Cordón, Pocitos, Centro, Parque Rodó and La Blanqueada can go in 15 to 30 days; overpriced, dated or large ones take 45 to 75 days.
With asking rents down on the year, a flat priced above recent listings will sit longer.
Which months have peak tenant demand?
February, March and April are the busiest months, with a smaller peak in July and August.
That follows the university calendar, job changes and moves after the summer holidays.
December and January are the quietest months for long-term leases, except in Punta del Este, where they are the peak of the tourist season.
How much can rents go up when a lease renews in 2026?
For a standard lease, by the INE coefficient of the month the contract turns one year old: 4.27% in August 2026 and 4.55% in September 2026. The coefficient follows inflation, which was 4.68% over the 12 months to September.
In practice, a UYU 30,000 rent renewing in September goes up by UYU 1,365, to UYU 31,365, and a 2-bedroom at the Montevideo average of UYU 40,065 goes up by about UYU 1,820.
Leases signed under the no-guarantee regime of Law 19.889 (LUC) are different: the rent can be set in pesos, dollars, UI or UR, and it moves the way the contract says. If the tenant stops paying under that regime, the law gives 6 business days to leave once the court has ruled, but the whole process takes longer.
What to do: if you are a landlord, price a new lease from current listings, not from last year's rent plus the coefficient, because new rents are below last year's. If you are a tenant, read which regime and which index your contract uses before you sign.
70+pagesWill the 2026-27 summer push rents up in Punta del Este?
Brokers don't agree. El Cronista (11 October 2026) reports summer rents expected 10% to 20% higher in dollars than last season, with bigger rises at the top end, based on early bookings and inquiries. Forbes Argentina (3 October 2026) hears the opposite at the top: in José Ignacio, prices stay at last season's level, the real estate chamber expects a "similar" season, and the peak is shorter, from Christmas to about 10 January. A 3-bedroom house goes for around USD 35,000 for the first half of January.
Keep that in proportion. Over the 12 months to July 2026, the average Airbnb in Punta del Este was booked 34.6% of the time at USD 192 a night, for USD 11,445 (about UYU 459,000) of gross revenue a year (AirROI, 2,807 listings). Even in December to February, occupancy was only 50.6%, at USD 221 a night.
An annual lease is the quieter option. On the Península, a 1-bedroom on an annual lease lists for USD 1,000 to USD 1,100 (about UYU 40,100 to UYU 44,100) a month and a 2-bedroom for USD 1,250 to USD 1,600 (about UYU 50,100 to UYU 64,200) (InfoCasas, September 2026). Twelve months at USD 1,000 to USD 1,100 gives USD 12,000 to USD 13,200 a year, before costs.
What to check before you raise your summer price: last season's real bookings for your building, the January and February calendar of similar flats, and the agency fee, often around 20% of the rent for seasonal management.
What will my monthly costs be in Uruguay as a landlord?
A small landlord should set aside 20% to 30% of gross rent for vacancy, repairs, administration, insurance and building surprises, before financing and income tax.
On a UYU 40,000 rent, that is UYU 8,000 to UYU 12,000 a month.
What property taxes should landlords expect in Uruguay?
Budget about UYU 25,000 to UYU 80,000 (about USD 625 to USD 2,000, or EUR 555 to EUR 1,780) a year for property taxes and municipal charges on a normal flat (our estimate).
It can be much lower or higher, from about UYU 15,000 to more than UYU 150,000 a year, because the taxes are calculated on the official cadastral value, not on the price you paid.
There are two main bills. The contribución inmobiliaria is set by each department; in Montevideo, its 2026 rates go from 0.25% of the taxable value in the lowest band to 0.75%–1.80% in the higher bands. The national Impuesto de Primaria adds 0.15% to 0.30% of the cadastral value.
What utilities do landlords often pay in Uruguay right now?
Tenants usually pay electricity, water, internet and the ordinary building fees (gastos comunes). Landlords pay property taxes, extraordinary building works, insurance and the building fees whenever the flat is empty.
Building fees for a 2-bedroom in Montevideo run UYU 3,000 to UYU 6,000 (about USD 75 to USD 150) a month in a basic building, UYU 6,000 to UYU 12,000 with a part-time doorman and UYU 12,000 to UYU 25,000 with full service and amenities (INGAR, 2026). Basic home insurance costs about UYU 5,088 to UYU 7,482 a year (BBVA / MAPFRE).
Listings show building fees separately, and high fees make a flat harder to rent even when the rent looks fair.
How is rental income taxed?
Residents pay IRPF and non-residents pay IRNR, both at 12% of the taxable rental income. In practice, 10.5% of the gross rent is withheld or paid in advance each month, and the final bill is settled once a year (DGI).
Some costs reduce the taxable income, such as the 2026 property tax and Impuesto de Primaria. Promoted-housing (vivienda promovida) flats can be exempt from this tax for 10 years, but check the exact benefit of the unit before you buy.
What it means for returns: the median gross yield across Montevideo barrios is 6.1% on asking prices (INGAR, September 2026). After 20% to 25% of costs and the 10.5% tax advance, that leaves about 4% net.
The usual mistakes are mixing up resident and non-resident rules, forgetting the withholding when the tenant uses a CGN guarantee, and assuming one property-tax rate for the whole country. We list more in our article on the risks and pitfalls of buying property in Uruguay.
Our methodology
This article looks at long-term residential rents in Uruguay: what studios, 1- and 2-bedrooms rent for, how fast rents are moving, which areas rent best, who the tenants are, and what a landlord pays. We focus on Montevideo, where most rentals are, and treat Punta del Este's seasonal market separately.
For the national level, we used the official INE figures: the average signed lease (August 2026), the yearly adjustment coefficient for renewals (August and September 2026) and inflation (September 2026). For new leases, we used asking rents from Inmuebles Data–Gallito (August 2026), neighborhood medians from Cambio Uruguay (October 2026), InfoCasas barrio guides (September 2026) and INGAR (September 2026). For short-term rentals in Punta del Este, we used AirROI only.
For the rules, we used DGI for rental income tax, IMPO for Law 19.889 on leases without a guarantee, the Montevideo municipality for property tax and the CGN and ANDA for rental guarantees.
We checked these figures in October 2026. Peso amounts are converted at about 40.1 pesos per US dollar and 45 pesos per euro (BCU, October 2026). Long-term rents in Uruguay are almost always set in pesos, while property prices and many Punta del Este rents are quoted in dollars.
The limits: portal figures are asking rents, not signed leases, and they leave out building fees. There is no official vacancy rate, days-to-let figure or rent per m², so those are our own estimates, and we say so where we use them. INE changed its average-lease method in 2026, so we did not compare that average with last year's.
Key sources used for this analysis include INE rental market, August 2026, INE inflation, September 2026, INE rent coefficient (datosUruguay), El País / Inmuebles Data, Cambio Uruguay, INGAR, AirROI, DGI, IMPO, BCU and El Cronista.
