Authored by the expert who managed and guided the team behind the Uruguay Property Pack
Everything you need to know before buying real estate is included in our Uruguay Property Pack
If you're looking to rent or invest in rental property in Uruguay, you need to know what rents actually look like on the ground right now.
This article breaks down current rent prices in Uruguay, neighborhood trends, tenant preferences, and landlord costs as of the first half of 2026.
We constantly update this blog post to reflect the latest data and market shifts.
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 Uruguay.
Insights
- Studio apartments in Uruguay rent for around UYU 20,000 per month on average, but Montevideo studios typically push above UYU 23,000 due to stronger demand in the capital.
- Rents in Uruguay are growing at roughly 5% to 6% year-over-year nationally, which closely tracks the country's inflation rate and official rent adjustment mechanisms.
- Furnished rentals represent a small niche in Uruguay's market, with unfurnished apartments dominating over 85% of long-term residential listings in most neighborhoods.
- Pocitos, Punta Carretas, and Carrasco consistently command the highest rents in Montevideo, often 20% to 30% above the citywide average for similar unit sizes.
- Vacancy rates in Montevideo hover between 3% and 5%, indicating a relatively tight rental market where well-priced properties lease within 20 to 35 days.
- Peak rental demand in Uruguay occurs from February through April, driven by job relocations and the university year start, making these months ideal for landlords.
- Landlords in Uruguay typically face a 10.5% withholding rate on gross rental income, plus municipal property taxes that range from 0.6% to 1.2% of assessed value annually.
- Young professionals in Uruguay prefer neighborhoods like Cordón, Parque Rodó, and Pocitos Nuevo, where monthly rents for 1-bedrooms range from UYU 22,000 to UYU 30,000.
- Expats in Uruguay concentrate in Pocitos, Punta Carretas, and Ciudad Vieja, drawn by waterfront access, English-friendly services, and a higher share of furnished options.
What are typical rents in Uruguay as of 2026?
What's the average monthly rent for a studio in Uruguay as of 2026?
As of early 2026, the average monthly rent for a studio apartment in Uruguay is around UYU 20,000, which translates to approximately USD 500 or EUR 460.
That said, most studio rentals in Uruguay fall within a realistic range of UYU 18,000 to UYU 23,000 per month, or roughly USD 450 to USD 575 (EUR 415 to EUR 530), depending on location and condition.
The main factors that cause studio rents to vary in Uruguay include proximity to Montevideo's city center, building age and amenities like elevators or parking, and whether the unit is located in a premium neighborhood like Pocitos versus a more affordable area like Cordón.
What's the average monthly rent for a 1-bedroom in Uruguay as of 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment in Uruguay is around UYU 25,000, which works out to approximately USD 625 or EUR 575.
Most 1-bedroom apartments in Uruguay rent within a range of UYU 22,000 to UYU 29,000 per month, or roughly USD 550 to USD 725 (EUR 505 to EUR 665), covering the majority of available listings.
In terms of neighborhood differences, areas like La Blanqueada and Cordón in Montevideo tend to have the most affordable 1-bedroom rents, while premium neighborhoods like Pocitos, Punta Carretas, and Carrasco sit at the higher end of that range.
What's the average monthly rent for a 2-bedroom in Uruguay as of 2026?
As of early 2026, the average monthly rent for a 2-bedroom apartment in Uruguay is around UYU 35,000, which equals approximately USD 875 or EUR 805.
The realistic range for most 2-bedroom apartments in Uruguay spans from UYU 30,000 to UYU 40,000 per month, or roughly USD 750 to USD 1,000 (EUR 690 to EUR 920), depending on size, condition, and amenities.
For 2-bedroom apartments in Uruguay, neighborhoods like Tres Cruces and Parque Batlle offer more affordable options, while Carrasco, Punta Gorda, and Puerto Buceo command the highest rents for this unit type.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market in Uruguay.
What's the average rent per square meter in Uruguay as of 2026?
As of early 2026, the average rent per square meter in Uruguay is approximately UYU 550 per month, which translates to around USD 14 or EUR 13 per square meter.
Across different neighborhoods in Uruguay, rent per square meter ranges from about UYU 450 in more affordable urban areas outside Montevideo to UYU 750 in premium Montevideo neighborhoods like Pocitos and Carrasco.
Compared to other cities in the region, Uruguay's rent per square meter is generally higher than interior cities like Salto or Paysandú, but remains competitive with Buenos Aires when measured in USD terms.
Property characteristics that push rent per square meter above average in Uruguay include newer construction, elevator access, parking spaces, waterfront views, and in-building amenities like pools or gyms.
How much have rents changed year-over-year in Uruguay in 2026?
As of early 2026, rents in Uruguay have increased by approximately 5% to 6% year-over-year nationwide, with Montevideo seeing slightly higher growth of around 6% to 7%.
The main factors driving rent changes in Uruguay this year include inflation-linked adjustment mechanisms built into lease contracts, stable economic growth, and continued demand in central Montevideo neighborhoods.
This year's rent growth in Uruguay is consistent with the previous year's trend, which also showed mid-single-digit increases that closely tracked the country's inflation rate and official rent indexation formulas.
What's the outlook for rent growth in Uruguay in 2026?
As of early 2026, rent growth in Uruguay is projected to continue at a mid-single-digit pace of roughly 4% to 7% over the coming year, with Montevideo and coastal markets likely at the higher end.
Key economic factors influencing rent growth in Uruguay include stable GDP growth around 3%, inflation expectations in the 4% to 5% range, and the legal rent adjustment framework that ties many contracts to inflation-like indices.
Neighborhoods in Uruguay expected to see the strongest rent growth include Pocitos Nuevo near the World Trade Center, Buceo due to new office developments, and premium coastal areas in Maldonado like Punta del Este.
Risks that could cause rent growth in Uruguay to differ from projections include unexpected currency fluctuations affecting USD-denominated rents, changes to the legal rent indexation framework, or a slowdown in expat demand for coastal properties.
We have made this infographic to give you a quick and clear snapshot of the property market in Uruguay. 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 Uruguay as of 2026?
Which neighborhoods have the highest rents in Uruguay as of 2026?
As of early 2026, the three neighborhoods with the highest average rents in Uruguay are Carrasco, Punta Carretas, and Pocitos in Montevideo, where 2-bedroom apartments typically rent for UYU 45,000 to UYU 55,000 per month (USD 1,125 to USD 1,375 or EUR 1,035 to EUR 1,265).
These neighborhoods command premium rents in Uruguay because they offer waterfront access, excellent security, well-maintained green spaces, and proximity to high-end shopping and dining options.
The typical tenant profile in these high-rent Uruguay neighborhoods includes corporate executives, diplomats, established professionals, and expats who prioritize quality of life and are willing to pay for convenience and prestige.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Uruguay.
Where do young professionals prefer to rent in Uruguay right now?
The top three neighborhoods where young professionals prefer to rent in Uruguay are Cordón, Parque Rodó, and Pocitos Nuevo, all in Montevideo and known for their urban energy and convenience.
Young professionals in these Uruguay neighborhoods typically pay between UYU 22,000 and UYU 30,000 per month for a 1-bedroom apartment, which translates to roughly USD 550 to USD 750 (EUR 505 to EUR 690).
These neighborhoods attract young professionals in Uruguay because they offer walkable streets, vibrant nightlife, strong bus connectivity to business districts, and a good selection of cafes, coworking spaces, and gyms.
By the way, you will find a detailed tenant analysis in our property pack covering the real estate market in Uruguay.
Where do families prefer to rent in Uruguay right now?
The top three neighborhoods where families prefer to rent in Uruguay are Carrasco, Malvín, and Punta Gorda in Montevideo, all known for their quiet residential character and family-friendly atmosphere.
Families renting 2-3 bedroom apartments in these Uruguay neighborhoods typically pay between UYU 40,000 and UYU 60,000 per month, which equals approximately USD 1,000 to USD 1,500 (EUR 920 to EUR 1,380).
These neighborhoods attract families in Uruguay because they offer spacious apartments, safe streets, proximity to parks, and lower density compared to central Montevideo.
Top-rated schools near these family-friendly neighborhoods in Uruguay include the British Schools, Uruguayan American School, and several well-regarded public schools in the Carrasco and Malvín areas.
Which areas near transit or universities rent faster in Uruguay in 2026?
As of early 2026, the three areas that rent fastest near transit hubs or universities in Uruguay are Cordón and Parque Rodó (near Universidad de la República) and Tres Cruces (near the main bus terminal) in Montevideo.
Properties in these high-demand Uruguay areas typically stay listed for just 15 to 25 days on average, compared to 30 to 40 days in less central locations.
The typical rent premium for properties within walking distance of transit or universities in Uruguay is around UYU 2,000 to UYU 4,000 per month (USD 50 to USD 100 or EUR 45 to EUR 90) above comparable units farther away.
Which neighborhoods are most popular with expats in Uruguay right now?
The top three neighborhoods most popular with expats in Uruguay are Pocitos, Punta Carretas, and Ciudad Vieja in Montevideo, each offering distinct lifestyle options for international residents.
Expats in these Uruguay neighborhoods typically pay between UYU 28,000 and UYU 45,000 per month for a 1-2 bedroom apartment, which translates to roughly USD 700 to USD 1,125 (EUR 645 to EUR 1,035).
These neighborhoods attract expats in Uruguay because they offer English-friendly services, waterfront access, a higher availability of furnished rentals, and walkable access to restaurants, banks, and healthcare.
The most represented expat communities in these Uruguay neighborhoods include Americans, Argentines, Brazilians, and Europeans, particularly from Spain and Germany, many of whom are remote workers or retirees.
And if you are also an expat, you may want to read our exhaustive guide for expats in Uruguay.
Get fresh and reliable information about the market in Uruguay
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
Who rents, and what do tenants want in Uruguay right now?
What tenant profiles dominate rentals in Uruguay?
The top three tenant profiles that dominate the rental market in Uruguay are local salaried households renting unfurnished apartments, students and early-career renters in central Montevideo, and expats or corporate tenants seeking furnished units.
In terms of market share in Uruguay, local salaried households represent roughly 65% to 70% of long-term rentals, students and young professionals account for about 20% to 25%, and expats or corporate tenants make up the remaining 10% to 15%.
Each of these tenant profiles in Uruguay typically seeks different property types: local families prefer 2-3 bedroom unfurnished apartments, students look for studios or shared 1-bedrooms near universities, and expats favor furnished 1-2 bedroom units in premium neighborhoods.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Uruguay.
Do tenants prefer furnished or unfurnished in Uruguay?
In Uruguay, approximately 85% of long-term residential tenants prefer unfurnished apartments, while only about 15% actively seek furnished rentals.
The typical rent premium for furnished apartments compared to unfurnished in Uruguay is around UYU 5,000 to UYU 10,000 per month (USD 125 to USD 250 or EUR 115 to EUR 230), depending on the quality of furnishings and neighborhood.
Tenant profiles that tend to prefer furnished rentals in Uruguay include expats on temporary assignments, corporate relocations, digital nomads, and seasonal visitors to coastal areas like Punta del Este.
Which amenities increase rent the most in Uruguay?
The top five amenities that increase rent the most in Uruguay are garage or parking spaces, building security or porter services, air conditioning, balconies or terraces, and in-building amenities like gyms or pools.
In Uruguay, a garage space can add UYU 3,000 to UYU 5,000 per month (USD 75 to USD 125 or EUR 70 to EUR 115), while air conditioning adds around UYU 2,000 to UYU 3,000 per month, and in-building amenities can command premiums of UYU 4,000 to UYU 8,000 per month in newer towers.
In our property pack covering the real estate market in Uruguay, we cover what are the best investments a landlord can make.
What renovations get the best ROI for rentals in Uruguay?
The top five renovations that get the best ROI for rental properties in Uruguay are kitchen refreshes, bathroom updates, air conditioning installation, improved lighting and fresh paint, and energy efficiency improvements like better insulation.
In Uruguay, a kitchen refresh typically costs UYU 80,000 to UYU 150,000 (USD 2,000 to USD 3,750 or EUR 1,840 to EUR 3,450) and can increase monthly rent by UYU 2,000 to UYU 4,000, while bathroom updates cost similar amounts with comparable rent gains, and AC installation costs around UYU 40,000 to UYU 60,000 with rent increases of UYU 2,000 to UYU 3,000 per month.
Renovations that tend to have poor ROI and should be avoided by landlords in Uruguay include luxury finishes that exceed neighborhood standards, swimming pool additions in apartments, and extensive structural changes that take too long to recoup through rent increases.
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.
How strong is rental demand in Uruguay as of 2026?
What's the vacancy rate for rentals in Uruguay as of 2026?
As of early 2026, the estimated vacancy rate for rental properties in Uruguay is around 3% to 5% in Montevideo and 4% to 7% in other urban areas, indicating a relatively tight market.
Across different neighborhoods in Uruguay, vacancy rates range from as low as 2% to 3% in high-demand areas like Pocitos and Cordón to as high as 8% to 10% in less central locations or seasonal coastal markets during off-peak months.
The current vacancy rate in Uruguay is roughly in line with historical averages, reflecting steady demand that has kept pace with new supply and a market that is neither oversupplied nor severely constrained.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Uruguay.
How many days do rentals stay listed in Uruguay as of 2026?
As of early 2026, the average number of days rentals stay listed in Uruguay is approximately 25 to 30 days for well-priced properties in Montevideo.
Across different property types and neighborhoods in Uruguay, days on market ranges from as few as 15 to 20 days for competitively priced units in central areas to 45 to 90 days or more for overpriced or poorly located properties.
The current days-on-market figure in Uruguay is roughly similar to one year ago, reflecting stable demand conditions and a market where pricing accuracy remains the main factor in leasing speed.
Which months have peak tenant demand in Uruguay?
The peak months for tenant demand in Uruguay are February, March, and April, when most lease turnover and new rentals occur.
Specific factors driving seasonal demand patterns in Uruguay include the start of the university year in March, post-summer job relocations, and the end of vacation rentals in coastal areas which pushes long-term renters back to Montevideo.
The months with the lowest tenant demand in Uruguay are typically December and January, when many locals are on summer vacation and the rental market slows considerably except in beach destinations.
Buying real estate in Uruguay 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 Uruguay as of 2026?
What property taxes should landlords expect in Uruguay as of 2026?
As of early 2026, landlords in Uruguay should expect to pay annual property taxes (Contribución Inmobiliaria) equivalent to roughly 0.6% to 1.2% of the property's assessed value, which for a typical Montevideo apartment might mean UYU 15,000 to UYU 40,000 per year (USD 375 to USD 1,000 or EUR 345 to EUR 920).
The realistic range of annual property taxes in Uruguay spans from around UYU 8,000 for modest properties to UYU 80,000 or more for high-value homes in premium neighborhoods, depending on assessed value and location.
Property taxes in Uruguay are calculated using progressive bracket rates applied to the property's fiscal value, with Montevideo's Contribución Inmobiliaria using bands ranging from about 0.18% to 1.8%, plus the separate annual Impuesto de Enseñanza Primaria (Primary Education tax) that applies to all property owners.
Please note that, in our property pack covering the real estate market in Uruguay, we cover what exemptions or deductions may be available to reduce property taxes for landlords.
What utilities do landlords often pay in Uruguay right now?
In Uruguay, landlords rarely pay utilities directly on behalf of tenants, as the standard practice is for tenants to cover electricity, water, and internet costs themselves.
When landlords do include utilities (which is uncommon outside furnished or short-term rentals), typical monthly costs in Uruguay run around UYU 3,000 to UYU 5,000 for electricity (USD 75 to USD 125 or EUR 70 to EUR 115), UYU 500 to UYU 1,000 for water, and UYU 1,500 to UYU 2,500 for internet.
The common practice in Uruguay is that tenants pay all consumption-based utilities, while landlords remain responsible for property taxes and building fees, though gastos comunes (common building expenses) are often passed through to tenants depending on the lease terms.
How is rental income taxed in Uruguay as of 2026?
As of early 2026, rental income in Uruguay is taxed under the IRPF (personal income tax) system, with a standard withholding or advance payment rate of 10.5% on gross rental income for most landlords.
Main deductions landlords can claim against rental income in Uruguay include property taxes paid (Contribución Inmobiliaria), Primary Education tax, building common expenses if paid by the landlord, and certain maintenance costs, though the system is relatively straightforward compared to other countries.
A common tax mistake specific to landlords in Uruguay is failing to register rental contracts properly or underreporting income, which can trigger penalties from DGI, especially as tax authorities increasingly cross-reference rental listings with declared income.
We cover these mistakes, among others, in our list of risks and pitfalls people face when buying property in Uruguay.
We made this infographic to show you how property prices in Uruguay 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 Uruguay, 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 |
|---|---|---|
| Uruguay National Institute of Statistics (INE) - IAI Alquileres | It's Uruguay's official statistics agency, publishing the official rent index based on actual contract data. | We used it as the backbone for official rent levels and year-over-year rent changes. We cross-checked private-market asking rents against this official contract-based signal. |
| INE - IAI Alquileres Technical Bulletin (May 2025) | It's an INE technical bulletin with consistent methodology used across months for time series tracking. | We used its average price language and reporting style to anchor our interpretation of the index. We then projected forward to January 2026 using the most recent year-over-year pace. |
| Inmuebles Data (Gallito / El País) | It's a recognized Uruguay portal-backed dataset with defined methodology and large listing coverage. | We used it to triangulate market asking rents by size and neighborhood. We treated it as the "what's being advertised" view compared with INE's contract view. |
| RAZA - Real Estate Market Report 2025 | It's a professional real estate firm publishing data-backed market reports with clear source citations. | We used its Montevideo typology averages for studios, 1-bedrooms, and 2-bedrooms. We then uplifted those late-2025 averages to January 2026 estimates using INE's rent inflation range. |
| IMF - 2025 Article IV Consultation (Uruguay) | The IMF is a top-tier international organization providing formal country consultation outputs. | We used it to ground the 2026 macro backdrop including growth and inflation near target. We used it as the macro guardrails around our rent growth outlook. |
| BCU - Central Bank Inflation and Expectations | It's the Central Bank's official communication about inflation dynamics and market expectations. | We used it to anchor the inflation environment going into 2026, which is key for rent indexation pressure. We kept our rent growth outlook consistent with the inflation regime. |
| Crónicas - BCU Analysts Survey Summary | It's a national outlet explicitly referencing BCU expectations surveys and quoting specific forecast figures. | We used it to translate BCU expectations into plain numbers readers can use. We also used the exchange rate expectations as a sanity check for USD conversions. |
| MEF Decree on Rent Adjustment Framework | It's an official government legal publication describing the legal rent update mechanism inputs. | We used it to explain how contracted rents can legally adjust over time. We also used it to justify why rent growth often tracks inflation closely in Uruguay. |
| DGI - IRPF Rental Income Guidance | It's the tax authority's official guidance including rates and compliance steps for landlords. | We used it to state how rental income is taxed and the typical 10.5% withholding rate. We also used it to explain what expenses and deductions matter in practice. |
| DGI - Primary Education Tax Explainer | It's the tax authority's official definition of who pays the Primary Education tax on property. | We used it to list property-tax-type obligations landlords should expect beyond municipal taxes. We also used it to time the liability correctly as an annual ownership-tied charge. |
| Intendencia de Montevideo - Contribución Inmobiliaria Rates | It's an official municipal document showing progressive tax brackets and rates for property taxes. | We used it to give concrete typical rate ranges landlords can expect based on assessed value. We translated bracket rates into simple rule-of-thumb percentages. |
| INE - ICCV Construction Cost Index | It's an official index of housing construction costs from Uruguay's statistics agency. | We used it as a proxy for maintenance and repair cost pressure in 2026. We used it to justify why maintenance budgets should not be set flat year to year. |
| UTE - Household Tariff Options | It's the official electricity utility's tariff information for residential customers. | We used it to support the utilities section and keep examples grounded in real provider structures. We avoided guessing how electricity billing works in Uruguay. |
| Mercado Libre Inmuebles | It's a major, widely used property marketplace with transparent listing counts and filtering. | We used it as a rough proxy for supply in the market and for seasonality checks. We also used it to benchmark furnished segment size relative to total listings. |
| Gallito - Furnished Rentals Listings | It's a leading local classifieds portal and key input into the Inmuebles Data coverage. | We used it to estimate the share of furnished stock versus total listings in demand hotspots. We supported the furnished-versus-unfurnished conclusion with measurable data. |
Get the full checklist for your due diligence in Uruguay
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.