This South American Country Was Just Named One of the Best Places to Retire for Weather, Cost of Living, and Safety – Yahoo Lifestyle Singapore

Mexico is blessed with sunshine, pristine beaches and a rich food scene based on the culture that is woven through the tapestry from the smallest town to the largest city. However, outside of taking a great vacation to enjoy authentic Mexican street food-lined cobblestone streets filled with colonial architecture, it could also be best of all for retirees, thanks in large part to its affordability.

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Because of a combination of these reasons — and its proximity to the United States — Mexico has by far the greatest number of American expats in the world. With nearly three times as many expats as second-place Canada, Mexico is clearly the country of choice for American retirees looking to spend their golden years abroad.

Many Mexican cities are cheap enough that American expats can live comfortably on $2,000, or much less, per month. This means that in many cases you can retire in Mexico on your Social Security check alone. To determine the top eight options, GOBankingRates analyzed data from Numbeo Cost of Living regarding the price of various expenditures across Mexican cities and calculated their relative ranking.

1. Querétaro (Santiago de Querétaro)

• Average monthly rent: $501.11

• Average monthly expenditures: $682.80

• Average monthly cost of living: $1,180.51

Querétaro may not have the resort cachet of places like Mazatlan, Cabo San Lucas or Playa del Carmen but it is rich in cultural heritage, with a historic center that’s a UNESCO World Heritage site. Its relative anonymity compared with some of its beachfront sister cities helps it keep a very low cost of living. A three-bedroom apartment outside of the city center, for example, may cost just around $700.

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2. Merida

• Average monthly rent: $499.48

• Average monthly expenditures: $682.80

• Average monthly cost of living: $1,182.28

Many financially savvy retirees flock to the beautiful city of Merida because of its incredibly low cost of living and overall safety rating. Retired expats can enjoy this somewhat hidden gem that is home to charming colonial archaeological sites as well as modern amenities.

3. Puerto Vallarta

• Average monthly rent: $834.02

• Average monthly expenditures: $659.80

• Average monthly cost of living: $1,493.82

This town in Mexico has beautiful weather year-round which is perfect for seniors looking for a warmer climate to live out their golden years. It also has an affordable cost of living compared to the United States as well as stunning natural landscapes and a large expat community of retirees.

4. Cancun

• Average monthly rent: $559.76

• Average monthly expenditures: $730.00

• Average monthly cost of living:  $1,289.76

When you think of Cancun, you may think of spring break more than senior living, but the cost of living here can fit into most retirement budgets. It also provides excellent healthcare options as well as a viable way to live that beach life when you retire.

5. Puebla

• Average monthly rent: $421.89

• Average monthly expenditures: $617.20

• Average monthly cost of living: $1,039.09

Puebla boasts UNESCO World Heritage Site status and has been called the food capital of Mexico by some. The high-altitude city surrounded by volcanoes is quite affordable for retirees, with only $300 just about covering the average cost of any one-bedroom apartment outside the city center.

6. Monterrey

• Average monthly rent: $773.01

• Average monthly expenditures: $785.00

• Average monthly cost of living: $1,558.01

When you’re working on your retirement plan, don’t sleep on Northern Mexico. Monterrey provides you a place with a low cost of living without sacrificing a high quality of life. The climate is as pleasant as the blooming retirement community you’ll find there.

7. Tijuana

• Average monthly rent: $579.23

• Average monthly expenditures: $628.30

• Average monthly cost of living: $1,207.53

Tijuana is one of the most accessible Mexican cities, and it remains quite popular with American expats. A one-bedroom apartment outside the city center can be had for just about $400 on average.

8. Mexico City

• Average monthly rent: $746.23

• Average monthly expenditures: $694.20

• Average monthly cost of living: $1,440.43

Many people, once they hit full retirement age and start collecting Social Security benefits, choose to retire in Mexico City because of its significantly lower cost of living compared to big cities in the United States. There is also excellent access to affordable healthcare, a diverse and vibrant food scene and a convenient proximity to the U.S. to easily go back and visit friends and family.

For the methodology for this study, GOBankingRates used Numbeo’s cost of living for cities in Mexico to find the average cost of living, average quality of life and the best places to live on a budget of $1,600 a month. First GOBankingRates found the cost of living for cities in Mexico using the following estimations; one household member of retirement age, eating lunch or dinner in restaurants 20% of the time and when eating in those restaurants they choose inexpensive restaurants 70% of the time, do not drink coffee, go out on the town (cinema) three times per month, does not smoke, drinks alcohol minimally, eat Western food at home, does not drive a car, does not take a taxi, does pay for a monthly public transport ticket, does pay for a monthly sports membership, does not take vacations, buys clothing and shoes at a low rate, does not have children or pay for schooling and pays the average amount for rent for a one-bedroom apartment. To find the average rent cost, the average rent for a one-bedroom in the city center and a one-bedroom outside the city center were used to calculate the average rental cost. Only cities with all data available were kept for this study. The average expenditure costs and average rental cost were used to find the monthly cost of living. The quality of life across various factors were found including; the cost-of-living index, purchasing power index, pollution index, house price to income ratio, safety index, healthcare index, traffic commute time index and climate index. The cities were sorted to show the highest quality of life first. All data was collected on and is up to date as of Oct. 10, 2024.

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This article originally appeared on GOBankingRates.com: 8 Best Mexican Cities To Retire on a Budget of Under $2,000 a Month