Cancun Market Insights
Cancun's real estate market is bustling, with a population of over 750,000 people. It offers a variety of properties, appealing to both vacationers and permanent residents. The average price of a home in Cancun is around $698,398 USD, providing attractive opportunities for buyers. The rental market is equally dynamic, with an average rent of $932 per month for a 1-bedroom apartment in the city. Currently, there are approximately 899 homes of all types for sale, showcasing Cancun's diverse and active real estate landscape.
Cost of Living in Cancun
Compared to New York City, Cancun's Cost of Living is around 37% cheaper all around, indicating a more affordable lifestyle than in NYC. The price of rent for a 1-bedroom apartment in the Cancun's city center averages at $931.85, while a domestic beer typically costs around $3.66. Basic utilities for a standard apartment are approximately $91.86 per month. If you’re looking to buy, the average price per square foot for real estate in Cancun is $264 whereas in NYC you'll pay more like $1,472.
These figures make Cancun an appealing destination for those seeking a more cost-effective living environment without sacrificing quality of life.
Cancun Migration & Tourism
Cancun continues to be a major tourist destination, with tourism in 2022 reaching 9.5 million visitors. In 2023, this number increased by 6.26%, showcasing a significant rise in tourism. This growth is a testament to Cancun’s enduring appeal, driven by its stunning landscapes, vibrant culture, and array of activities. The increase in tourism also positively impacts the local economy and real estate market, as more people are drawn to the beauty and lifestyle of Cancun, leading to a steady flow of new residents and property investors.
Climate & Weather in Cancun
Cancun boasts a tropical climate with an average temperature of 28°C (82°F) in July and a milder 22°C (72°F) in January. This year-round warmth and sunshine make Cancun an ideal location for those who enjoy outdoor activities and a beach lifestyle. The climate is one of the key factors attracting both tourists and new residents, contributing to the area's popularity and growth.
Current Cancun Housing Market
Picture yourself in one of the below real estate listings from Cancun by viewing photos and video of the current listing. There are 303 condos, 316 single family homes and 208 pieces of land for sale, currently in Cancun.
