Property Prices in Morelia, Mexico

Index
Price to Income Ratio:	8.57
Mortgage as Percentage of Income:	107.92%
Loan Affordability Index:	0.93
Price to Rent Ratio - City Centre:	15.71
Price to Rent Ratio - Outside of Centre:	10.79
Gross Rental Yield (City Centre):	6.37%
Gross Rental Yield (Outside of Centre):	9.26%

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Rent Per Month	Edit	Range
Apartment (1 bedroom) in City Centre	6,333.33 MXN	5,000.00-8,000.00
Apartment (1 bedroom) Outside of Centre	4,333.33 MXN	4,000.00-5,000.00
Apartment (3 bedrooms) in City Centre	21,082.52 MXN	10,000.00-25,000.00
Apartment (3 bedrooms) Outside of Centre	10,849.51 MXN	6,000.00-20,000.00
Buy Apartment Price	Edit
Price per Square Feet to Buy Apartment in City Centre	2,787.07 MXN
Price per Square Feet to Buy Apartment Outside of Centre	1,114.83 MXN	1,114.83-1,114.83
Salaries And Financing	Edit
Average Monthly Net Salary (After Tax)	12,250.00 MXN
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate	11.25	10.00-12.00

These data are based on 31 entries in the past 18 months from 7 different contributors.
Last update: September 2024

Sources and References

Nearby cities:

Property Prices in Valle de Santiago	56.01 miles
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Property Prices in Irapuato	87.79 miles
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Property Prices in Nueva Italia de Ruíz, Michoacán	99.39 miles
Property Prices in San Miguel de Allende	117.70 miles
Property Prices in Queretaro (Santiago de Querétaro)	118.76 miles
Property Prices in Toluca	145.66 miles
Property Prices in Naucalpan de Juárez	183.28 miles
Property Prices in Ajijic	184.72 miles

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country data (source The World Bank, 2024)
GDP Per Capita ($) :	20,300.00
GDP Growth Rate:	3.90%
Population Growth Rate:	0.61%