Although the Yucatecan capital has established itself as the fourth most expensive city in Mexico—only behind Mexico City, Monterrey, and Querétaro—a stark economic paradox persists:
A metropolitan cost of living with average salaries well below the national average.
The city’s salary and economic reality can be broken down into the following key points:
Salaries vs. Inflation: Average monthly incomes range from 7,500 to 7,700 pesos, while housing rents have experienced annual increases of 7% to 8% (double the inflation rate), and the cost of selling properties has risen by up to 15%.
Impact of Migration:
According to the Mexican Institute of Finance Executives (IMEF), the price increase is due to an accelerated supply and demand phenomenon driven by the strong wave of migration and investment, which has led to gentrification and higher costs for services.
High Informality:
More than 50% of the workforce in the state operates in the informal sector, and the formal labor market depends largely on low-wage trade and manufacturing sectors.
Basic Food Basket:
Increases in basic services (water, electricity, internet) and the basic food basket drastically reduce purchasing power when facing daily expenses.
Source: Telesur
