Why is RENT so expensive in Playa Del Carmen?

If you have been to Playa Del Carmen recently or have been looking online for a place to rent, you probably have noticed that is expensive. We have been hearing from a lot of people that renting has gotten so expensive that people are deciding to vacation in other places. So, what factors go into rent prices in Playa Del Carmen? Will rents come down anytime soon? What are some ways to get cheaper rental prices in Playa Del Carmen? Let’s dive into the question first, why are rents getting more expensive in Playa Del Carmen.

What factors have driven up the price of rent?

The answer to this is multifaceted. And just because people are paying more in rent does not mean that all owners are getting rich. Here are 14 reasons why rent is more expensive in Playa Del Carmen than in the past. 

• Developers are building more luxury condos.

How many times have you seen a new building advertised with non-luxury units for sale? Never. Not only do developers want you to feel like you are buying luxury, but developers also make more on selling luxury units. More expensive condos with more features equals high rents expected of owners. 

• Rental platforms have raised fees.

Some overhauls of how taxes are collected in Mexico and fees from booking sites have gone up. Owners have seen fees go up and they pass this onto the renters. Many owners look for other options but there are not too many other options except to use popular sites and pass these expenses to the renter. 

• Exchange rates and a strong Mexican Peso.

Exchange rates affect everything about travel to another country. The past year the Peso hit 16 to the USD. For a year it was under the 20 to 1 ratio that many have gotten comfortable with. So especially in the past year rents have been more expensive due to exchange rates. However, some owners go by the USD price and others price in Pesos. 

• Inflation and rising costs in Mexico

If we look at minimum wages in Mexico over the past 10 years, we can see a rise of 148%! Wages and costs of doing things have gotten more expensive. Inflation has averaged 4.5% over the past decade but spiked in 2022 to 7.9%. Inflation has been affecting, gas, water, and electric. Even though electric is usually not included in rent for long term rentals, it is added into the overall cost for short rentals. Paying for a housekeeper and other services has all gone up substantially and this is added into the rental prices. 

• It is not the apartment it is the amenities.

You might see a studio or other apartment for rent that seems very expensive. Sometimes it is not the apartment that garnishes the high price but rather the whole package. Some upscale buildings have amazing rooftop pools, concierges, gyms, meeting rooms, and other amenities that make staying there a lot more comfortable. It is good to check the details of what the building has to understand the prices at times.

For example: There are two studios: one for 14,000 pesos a month and one that is 20,000 pesos a month. You might think that the studio for 20,000 is a rip off and it seems expensive. But when you compare them side to side, you begin to see why there is a price difference. The cheaper rental is in an older building that is a little out of the center. It has a pool, but it is smaller and in the courtyard. The other studio is in a new building, comes with parking, has a rooftop pool, gym, laundry, perfectly working ac, and nicer furnishings. You might not care about all the features, but a gym can save you 2000 pesos a month, parking can be 200 pesos a day in Playa. So, the details are important to check. Sometimes listings that look expensive are actually a decent value when you look at the things included. 

• Mexico offers generous tourist visas.

Mexico offers stays up to 180 days to tourists arriving. This is not guaranteed but is what tourists normally get. This makes it very easy to stay in Mexico for several months at a time. This easy visa makes it possible for snowbirds (people that fly south for the winter) to stay for an extended period. Digital nomads also like the time to spend working while in Mexico. These and other types of tourists often rent in popular tourists’ areas.  This is another factor that drives up rent prices. 

• Owners have a base price that cannot be broken.

If you own a property in Playa Del Carmen, most of the time it is an investment property for you. Owners have fixed expenses like, HOA fees, taxes, cleaning, maintenance, booking fees, and commissions that all take a cut of the rent prices. Sometimes if it is a low season or just bad luck in renting your place out, owners will only drop prices a little. This is because there are expenses that come with renting out your place. Sometimes it is easier not to rent your place and not have to do anything plus eliminate wear and tear on your rental. Some owners will come and use the rental or have friends go and stay to take advantage of the rental. Other times owners will switch to a long-term rental or other rental category. Since most owners have no mortgage, there is not as much pressure to rent for just any price to keep income flowing. Sometimes it is easier and perhaps cheaper just to not rent a unit. 

• Rental demand.

Supply and demand come into play in Playa Del Carmen. Playa Del Carmen is a popular destination that has a lot of services and things to see. Mexico has only a handful of coastal communities that can accommodate many tourists visiting. We describe Playa as a funnel. Playa Del Carmen gets concentrated tourism because people from South America, Europe, Canada, Mexico and the US all like coming to the area. This even gets concentrated in the downtown of Playa Del Carmen since people like the walkability of the center. Demand pushes up rents and even puts more pressure on the downtown since it is so desirable. 

• Short rentals make more money.

Have you tried looking for a month or multiple months stay at an Airbnb? You will find less options and less affordable options for longer stays in general because every owner knows you can make more on a short stay rather than a longer stay. What some owners do is raise the prices for longer stays so that it will still average a good return. This puts pressure on prices for longer term stays.

• Owners holding out for the best rental price.

Owners tend not to accept some requests far in advance because they want to accept the best rental client with the best terms for them. Many people want a short-term rental. It may be for a month or several months at a time, but many owners do not like reserving units for next year for a month when they might get a booking for 6 months or a year. Experts suggest booking short term rentals close to when you want to book because owners are more open to renting. 

• People’s expectations have changed.

Sometimes it is not the prices that have changed so much. For example, I used to travel more on a budget. I liked traveling a lot and staying at cheaper hotels helped extend my budget. Nowadays I prefer more comfort and a nicer place because I travel less but want more quality. As most of us age, we look for more comfort and nicer places to stay. This raises the prices we pay for vacations and places to stay. Sometimes it is not that prices have changed so much; it is our standards and expectations have. Here is another example, The first hotel I stayed at in Playa 15 years ago was $40 or $45 USD a night. I looked for the same time of year in 2025 and the hotel is charging less than $40 USD a night for the same room. Prices have not gone up at this hotel, but my expectations and wants are different than 15 years ago so I pay more per night at other hotels. This no doubt happens to others as people look for nicer and better places to stay. 

• Unscrupulous owners.

Some owners want to test the market to see how much they can get for their place. Some figure that since it is hard to compare listings, maybe they can fool you into paying more for the same place that rents for a lot less. Sometimes those expensive looking listings are just that, expensive because they are overpriced by greedy owners. The same thing happens on Amazon. You see a lamp for $100 USD and then the same lamp for $150 and $300 USD. It is the same lamp, but some sellers want to see if someone will pay more for the same thing. 

• Unscrupulous scammers.

There are some scammers out there that take advantage of the rental market in Playa Del Carmen. Some people will list a beautiful apartment for what is less than normal price. The trick is, you contact them, and they say this one is taken but they have another. Either they push you toward another rental that is not the same quality or just try to get a deposit and ghost you. These types of scams can make legitimate listings look expensive, but they are in fact the real prices. 

• Playa Del Carmen is different from other cities. 

The downtown of Playa Del Carmen is where most tourists want to be because it has everything. There is the beach, 5th Avenue, clubs, transportation, hotels, shops and entertainment. Just about all rentals in the downtown are tourist rentals. Unlike some other cities where there is a mix of residents and tourists, Playa Del Carmen’s downtown is pretty much tourist rentals so expect tourist prices. This has changed over time. Ten years ago, there were more residents living in the downtown of Playa. As tourism grew and the idea of renting nights to tourist happened, the downtown has become more touristic.

How to save on rent in Playa Del Carmen

• Rent prices are somewhat negotiable. Even on platforms you can talk to the owners and ask for discounts for last minute bookings, longer bookings or another type of agreement that would benefit both parties. Even if you find someone not on a platform renting a place, you can ask for a small discount or make an offer in Playa Del Carmen. Usually, things like electric are not things that can be negotiated because it is a fee based on consumption of the renter. But monthly payments for the rent can be discussed. Usually the longer the stay, the more room there is for negotiation. 
• Look farther out from the center. The downtown of Playa Del Carmen is the prime place to rent because you can walk most places and are close to most services and the beach. Some of the cheaper neighborhoods that are close to the center is the area just south of Juarez Avenue between 10th Avenue and 35th Avenue, or Colosio on the north end of Playa. If you cross the 307 Highway you are opening up many gated communities and cheaper rental prices. Just make sure you consider the cost of transportation in both price and time it takes to get around. Public transportation is not the best in Playa and some areas will take about 30 minutes to get to the center via combi or bus. For short rentals we do not recommend going to the other side of the highway because it not with the extra inconvenience. 
• Booking close to the date can get you a discount (you can start two months before your travel, but one month is best). If you are flexible to what place you would like, booking close to the date means owners are more open to take a booking just to fill the unit. This does not mean a ridiculous discount, but a 10%-20% discount is not unheard of. 
• Come on the off season or shoulder season. The highest demand for rentals is from December to February and Easter week. September can be a nice time to come as it is summer, and less people are visiting Playa Del Carmen, for example. 
• If a kitchen it not important to you, hotels are also a good option for shorter stays. Nowadays with all the fees and regulations of some booking platforms, a hotel is an easy option that provides some standards that are worthwhile. There are some cheap hotels in Playa Del Carmen that offer good value. 
• If you are looking for a short-term vacation rental, Bric Rentals is one local company that many readers like using. They even offer a 10% off for our readers. All you need to go is use this coupon code and you get a nice discount. You can use coupon code ‘EVERYTHINGPDC‘ for a 10% discount on your reservation. 

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Mr.Yucatan

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