Lima is the most expensive city to rent housing in the region

Renting a 60-square-meter, two-bedroom apartment in a middle-class district like Lince is more expensive in Lima than Mexico City and Bogotá, according to a market study by the real estate portal Properati, with a presence in more than five Latin American countries.

To rent housing, Lima is above Mexico City, Buenos Aires and Bogota, says real estate portal.
To rent housing, Lima is above Mexico City, Buenos Aires and Bogota, says real estate portal.

Cheap prices

Meanwhile, Arequipa and Quito are the cities in the region that have the cheapest rental prices.

This study was made based on the ability to pay off those interested in renting housing, compared to the minimum wage in Peru, Mexico and Colombia.

Most expensive

The portal said that Lima, Mexico City, and Bogota are the three cities in Latin America that register a high percentage of expenditure, in relation to the sum of two minimum wages, to achieve rent an apartment in a middle-class area.

"The ranking is led by the Mexican capital, where more than two minimum wages, 147%, are needed to rent in San Jerónimo de Lídice, a middle-class zone that maintains an average ticket of $480; followed by Lima-Lince, representing 87% of the sum of two wages in contrast to the average rental price, which is around $492; and in a third-place, Bogotá, whose figure reaches 75% of two minimum incomes for an average ticket of $390," said Angélica Gómez, Key Account Manager of Properati Peru.

In Peru, the minimum living wage in Lima (Peru) is $282 or S/930.

In Arequipa, the average rental value of a two-bedroom apartment is $352, which is 62% of two minimum wages ($56). Meanwhile, Quito has an average rental ticket of $310, which is 39% of two minimum wages ($788).

Recommended stories