What's a good salary in Mexico?

According to Salary Explorer, a Mexican worker usually earns an average annual salary of 399,000 MXN (Mexican Peso). According to the exchange rate in 2023, this amounts to USD 23,154 annually. Generally, the average salary ranges from 8,410 MXN (lowest salary) to 148,000 MXN (highest national average) per month.

What is a livable income in Mexico?

The updated net living wage, or take-home pay, for 2022 is MXN 11,393 (USD 555) per month. The gross living wage (aka living wage), which also considers income taxes and mandatory payroll deductions, is MXN 13,117 (USD 639) per month for 2022. These are average estimates for the year 2022.

What is the average salary in Mexico in US dollars?

What Is the Average Salary in Mexico? As of 2023, the median salary in Mexico is approximately 29,200 MXN (USD 1,695/month).

What is considered wealthy in Mexico?

Households where four people work – each earning more than 20,000 pesos – are also considered “upper class.” Most “upper-class” people live mainly in Mexico City, Nuevo León, Colima, Querétaro, and now, Merida Yucatán.

What is a middle class income in Mexico?

What Is A Middle-Class Income in Mexico? On average, families in Mexico's middle class earn between 10,000 and 25,000 pesos a month. Based on the current exchange rate, this range translates to USD 500 to USD 1,250 monthly.

How much money is a good salary in Mexico?

Can you retire in Mexico with a million dollars?

The annual cost of living in laid-back Playas del Coco equates to roughly $31,600, so $1 million would last about 26 years. The historic center of San Miguel de Allende is a UNESCO World Heritage Site. This beautiful, historic city has a large American expat and retiree community, so it's easy to form new friendships.

Is 200 dollars a lot in Mexico?

As of my last knowledge update in 2021,[/math]200 USD is equivalent to roughly 4,000 Mexican pesos. This amount can cover various expenses such as meals, transportation, and small purchases, but it may not be considered a large sum for larger expenses or significant purchases.

What is the average rent in Mexico?

The monthly rent for a one-bedroom apartment in an average area of Mexico City will cost about USD$400-$500. In a nicer area, expect to pay around USD$680-$830 per month. As in most cities, going outside the city center will allow you to spend less.

Is 50K a year good in Mexico?

50K US would be more or less the income of a mid class family in Mexico. (around 450,000 pesos a year). So, consider that. For a single person, with only a few luxuries now and then, living in a normal mid level neighborhood, that would be more than enough.

What is the most common job in Mexico?

The workforce reached 58.5M people (40.7% women and 59.3% men) with an average monthly salary of $5.61k MX. The occupations that concentrate the largest number of workers were Sales Employees, Dispatchers and Dependent on Trade (3.57M), Traders in Stores (2.95M), and Support Workers in Agriculture (2.1M).

How much does the average person in Mexico make a day?

Average wages vary a lot in Mexico, mainly due to the field your work is on and location. In general terms the daily median wage for Mexico is $380 MXN (aprox $19 USD). In the US the median wage per day is calculated by hour and varies from state.

What is the best paying job in Mexico?

1.- Medicine

According to the statistics presented by IMCO, the average salary for this professional career is approximately 17,800. In addition, the quality of investment in case of studying at a public university is excellent. In terms of employment status, the employment rate is 97.9%.

What is safest city in Mexico?

Mérida: Safest City in Mexico

It has the lowest crime rate in Mexico, with a very low risk of theft, attacks and violence. It is safe to walk around at night, even for solo female travelers. Steep in history and rich in heritage, Merida is home to the region's best museums, restaurants, and bustling markets.

How much does a car cost in Mexico?

Mexico: mid-sized car cost in Mexico City 2014-2019

In 2019, the average cost of a mid-sized car in Mexico City amounted to approximately 17,184 U.S. dollars, up from 15,236 U.S. dollars a year earlier.

How much do you need to make in Mexico to live comfortably?

In Mexico, you can live a comfortable life on $1,000 a month. The average cost of living for expats, digital nomads and retirees varies between $600 to $2,000 depending on one's lifestyle choices and their location. Baseline costs in Mexico are around $750 a month.

Is it cheaper to live in Mexico or the US?

United States is 84% more expensive than Mexico. Jan 2024 Cost of Living.

How much is a 1 bedroom in Mexico?

In December 2023, the monthly rent for a one-bedroom apartment in the city center of Mexico City amounted to 913.96 U.S. dollars, whereas a three-bedroom apartment averaged 1803.96 U.S. dollars. Meanwhile, Mexico City is the most expensive place to buy residential property in Mexico.

Where is the cheapest and safest place to live in Mexico?

The city in Mexico considered the safest with the lowest crime rate is Merida, located in Yucatan. It's also one of the most affordable cities in Mexico, making it a popular destination for retirees and expats.

What can 1000 pesos get you in Mexico?

With 1,000 pesos in Mexico, you can buy a variety of things depending on your preferences. This amount can cover a meal for two at a mid-range restaurant, several bottles of local beer, a few souvenirs or crafts from local markets, or a day trip to a nearby tourist attraction.

How much is a Coke in Mexico?

In Cabo, you can get a 2-liter of Coke for about 35 pesos, or $1.75. For smaller portions, such as a 12-oz can, 20-oz bottle, or 1-liter bottle, the price ranges between 10 pesos to 20 pesos, but almost always under $1 USD. As mentioned earlier, drinking a 2-liter of Coke is a daily ritual for many Mexican nationals.

How long will $400,000 last in retirement?

Safe Withdrawal Rate

Using our portfolio of $400,000 and the 4% withdrawal rate, you could withdraw $16,000 annually from your retirement accounts and expect your money to last for at least 30 years. If, say, your Social Security checks are $2,000 monthly, you'd have a combined annual income in retirement of $40,000.

Can I retire on $2000 a month in Mexico?

Another one of the best places to retire in Mexico on a budget of $2,000 a month (and even save some to save and splurge) is Puerto Morelos. Retirees appreciate this town for its warm Caribbean sun, gentle breezes, and relaxed pace of life. Expats report healthcare to be both affordable and good quality.

What are the disadvantages of living in Mexico?