Renting in Mexico City as an American

Renting in Mexico City is easy if you pay a premium for convenience and harder, but cheaper, if you play by local rules. Know which game you're playing before you sign anything.

The short version

Asking rents in the neighborhoods Americans like are roughly MXN 17,700 to 29,500 a month (about USD 950 to 1,580) in Narvarte, Roma Norte and Condesa, and much more in Polanco, based on listing data from fall 2026 [4][5][6][7].
Long-term leases usually ask for one month's deposit and either an aval (a guarantor who owns property in the city) or a póliza jurídica (a rental guarantee policy).
Since a 2024 reform, residential rent increases in Mexico City can't exceed the previous year's inflation, and landlords must register leases in a digital registry [1]. Mexico's Supreme Court upheld the cap in February 2026 [2].
Furnished short-term rentals skip most of the paperwork but cost more. They're a good first landing pad, not a long-term plan.
Never wire a deposit for a place you haven't seen in person or by live video call with someone you've verified.

Where Americans live, and what it costs

Most newcomers cluster in a few walkable colonias in the boroughs of Cuauhtémoc, Miguel Hidalgo and Benito Juárez. Here's a ballpark from Propiedades.com, a Mexican listings site, using its average asking rents for apartments [4][5][6][7]. USD conversions use the Banco de México FIX rate of 18.7147 pesos per dollar (November 5, 2026) [8].

Neighborhood	Average asking rent (MXN/month)	About USD/month	Median MXN per m²	Vibe
Narvarte Poniente	17,700	950	196	Residential, great taquerías, fewer tourists
Roma Norte	24,600	1,310	262	Cafés, nightlife, Art Deco buildings
Condesa	29,500	1,580	268	Leafy parks, dog walkers, lots of Americans
Polanco V Sección	51,600	2,760	279	Upscale, larger units, near the new embassy

Data updated September to November 2026. Averages mix studios with three-bedrooms, so use the price per square meter to sanity-check a listing. At around MXN 262 per m², a 70 m² (about 750 square feet) one-bedroom in Roma Norte would ask roughly MXN 18,000 (about USD 960) a month. Listings advertised in dollars or aimed at foreigners often run higher.

Other areas worth a look: Del Valle and Escandón for value, Juárez for a central location, and Coyoacán if you want a quieter, small-town feel. For a full comparison, see our guide to neighborhoods for Americans in Mexico City.

How to find a place

There are three main ways in, each with trade-offs.

Listings sites and agents. Inmuebles24, Propiedades.com and Mercado Libre list long-term rentals. Many landlords work through an inmobiliaria (real estate agency). Ask up front who pays the agent's commission, so there are no surprises at signing.
Walking the neighborhood. Old-school, but it still works. Look for "Se renta" signs with a phone number and call or WhatsApp. These are often the best deals, and the landlord may never list online.
Furnished, short-stay platforms. Easy to book from the States, paid by card, no aval needed. You pay for the convenience, and month-to-month terms mean you can be asked to leave fairly easily.

A practical tip: everything in Mexico City runs on WhatsApp. Get a Mexican cell phone number early, because some landlords won't reply to a US number.

Before you sign: check the building

Mexico City sits in an earthquake zone. Ask when the building was built, whether it was reviewed after the September 2017 quake, and where the emergency exits are. Check the water pressure, whether there's a tinaco (rooftop tank) or a cisterna, and whether the gas is piped or delivered in tanks. Our guide to earthquakes in Mexico City has a checklist.

Deposits, the aval and the póliza jurídica

Here's where Americans get sticker shock, and it's not about money. Many landlords want a guarantor instead of a credit check.

Deposit (depósito). Usually one month's rent, sometimes two for foreigners or furnished units. Get the amount and the conditions for its return in writing.
First month's rent, paid at signing.
An aval (fiador). A person who owns real estate in Mexico City, free of mortgage, and agrees to back your lease. Most newcomers don't know anyone like that, which is why the next option exists.
A póliza jurídica. A rental guarantee policy bought from a specialized firm, which checks your income and ID. The cost is usually a percentage of a year's rent, and the landlord decides who pays. Ask before you agree.
Documents. Expect to show your passport, your resident card if you have one, proof of income such as bank statements or an employer letter, and sometimes your RFC.

Some landlords accept several months of rent paid upfront instead of an aval. That can work, but it's more money at risk if things go sideways, so only do it with a written contract.

A proposed city law, presented in 2026 and still before the city congress, would let landlords ask for only one form of guarantee and would put agency and policy costs on them [3]. Until it passes and is published, it's not the rule.

The rent cap and lease registration

In August 2024, Mexico City amended articles 2448 D and 2448 F of its Civil Code [1]:

Rent increases on houses and apartments can't exceed the inflation rate Banco de México reported for the previous year. Before the reform, the limit was 10%.
Landlords must register leases in a digital registry run by the city government, within 30 days of signing for new contracts [1].

The Supreme Court upheld the cap on February 25, 2026. It noted that landlords and tenants are still free to set the starting rent [2]. So the cap protects you at renewal, not on the first price you're quoted.

In practice, the rental market here is largely informal. Plenty of landlords haven't registered, and some ask for more at renewal anyway [1]. Know the rule, ask whether your lease is registered, and keep your contract and payment records.

What a lease should say

Get a written contract (contrato de arrendamiento), ideally in Spanish with an English translation you trust. Check:

the rent, the due date and how increases are handled
the length, usually 12 months, and how either side can end it early
who pays maintenance fees (mantenimiento), water, gas and repairs
the deposit amount and when it comes back
an inventory of furniture and appliances, with photos

Pay by bank transfer, not cash, so there's a record. If you'll pay from a US account, see our guide to sending money between the US and abroad.

Scams and red flags

Mexico City's rental scams are mostly the same ones you'd see back home, with a local twist:

The too-good-to-be-true listing. Photos of a gorgeous Condesa apartment at half the going rate, an owner who's "out of the country," and a request for a deposit by wire. Walk away.
Pay to view. Legit landlords don't charge you to see a place.
No ID, no deed. Ask to see the landlord's ID and a document showing they own the property, or the agency's details. A real landlord won't mind.
Cash only, no contract. That leaves you with no proof you paid.
Pressure tactics. "Three other people want it today." Maybe. But never transfer money in a hurry.

Ask around before you commit. Our community group for Americans in Mexico is a good place to get a second opinion on a listing or a building.

The US angle

Renting abroad doesn't usually change your US taxes, but a couple of things are worth a heads-up:

Housing exclusion. If you qualify for the foreign earned income exclusion, part of your Mexico City rent may count toward the foreign housing exclusion or deduction on Form 2555. The base limit is set each year, and the IRS lists higher limits for some cities in the Form 2555 instructions, so check whether Mexico City is on that list for your tax year.
Your US home. If you rent out your place stateside while you're here, that rental income still goes on your US return.

A US expat tax preparer can check your situation.

Renting in Mexico City: deposits, the aval and the new rent cap