According to International Living, there are plenty of affordable real estate options in San Miguel de Allende. But the closer you are to the heart of the colonial centro, the plaza known as El Jardin, the higher the price.
Expect to pay about $350,000 and up for a restored colonial home, with two or three bedrooms, in the best neighborhoods in town. Depeding on the size of the property the price could go uo into the 7-digit neighborhood.
But go to the outskirts of the colonial zone, still in safe and nice areas, and you’ll pay much less. For example, a one-bedroom apartment will go for $169,000.
From there it’ll still be a five to 10-minute walk to the restaurants and entertainment options and cultural activities in the historic area.
Head to the outskirts of town, but still a 20-minute walk to downtown or a five-minute taxi ride (for $3), and you’ll find modern homes for bargain prices. Here you’ll easily find a three-bedroom home for around $200,000 and up.
The low cost of living carries over to daily expenses and monthly bills as well. Rents start at about $800 per month for a two-bedroom apartment for a long-term lease.
This will put you on the outskirts of the historic centro. Keep in mind that during “high season,” from January to April, it is very hard to find a monthly rental and prices do go up. If you’re interested in living in the city at that time of year, it’s best to reserve a place early.
Local markets offer fresh produce in a lively atmosphere at a low price. A retired couple could fill their fridge with fruits and veggies, plus meat and chicken, eggs…whatever they want, for about $25 a week. With the pleasant climate, there’s no need for air conditioning or heat, so electric bills are low.