Can I afford to live in Mexico on Social Security?

Asked by: Mrs. Britney Becker  |  Last update: September 10, 2022
Score: 4.6/5 (62 votes)

Yes, you can absolutely live in Mexico for $1500/month. Many people already do it. The trick is having and sticking to a budget. You'll have to set a realistic budget for a rental, health insurance, groceries, eating out, transportation, and entertainment.

Can you move to Mexico and still collect social security?

Yes, you can claim your Social Security benefits no matter where in the world you live.

How much money do I need monthly to retire in Mexico?

Average Cost to Retire in Mexico

A retired couple can expect to retire comfortably in Mexico with an average income of about $2,500 a month, or $30,000 a year, according to These figures include the cost of a house, a maid service, utilities, groceries, entertainment, health insurance and more.

How much does a single person need to retire in Mexico?

The minimum monthly requirement is about $1,620 in net income for an individual. You may also choose to provide bank statements for the last 12 months that show an average balance of at least $27,000. If you choose to stay longer than four years, you can apply for a permanent resident visa.

Does Mexico tax US Social Security?

US Citizens Working in Mexico: Taxes for Social Security

For US citizens working in Mexico, taxes for social security should be paid, but it may take a Mexican expert to go over the details of the arrangement and determine to which country social security taxes should be paid.

Can I afford to live in Mexico on Social Security?

39 related questions found

Does Mexico Tax US retirement income?

U.S. taxes when retiring in Mexico

You still pay taxes when retiring abroad. If you retire in Mexico, you will still file a tax return and report income just as you would if you retired in the U.S.

How much does it cost to build a 3 bedroom house in Mexico?

It is possible to get a new three bedroom house for about $60,000 USD. These houses are being sold with a profit, so you know that inexpensive construction is possible here. Most houses built in Mexico cost 1/3 the cost of construction in other countries.

What is average rent in Mexico?

Housing Costs in Mexico

In an average area, the monthly rent for a furnished one-bedroom apartment will cost you about $451 USD. In a nicer area, expect to pay around $772 per month. For a standard WiFi connection, you'll pay $21 per month depending on your provider.

Where is the cheapest and safest place to live in Mexico?

Oaxaca is one of the most affordable expat destinations in Mexico, and food, lodging and transport costs are inexpensive.

What is the safest place to retire in Mexico?

Seven of the safest cities in Mexico
  1. Merida. Widely acknowledged as the safest city in Mexico (and even Latin America), your biggest safety concern in Mérida will probably be the busy traffic. ...
  2. Playa del Carmen. ...
  3. Mexico City. ...
  4. Puerto Vallarta. ...
  5. San Miguel de Allende. ...
  6. Sayulita. ...
  7. Huatulco.

Can I just move to Mexico?

Yes, you can go all in and decide to make your move to Mexico permanent but there are also lots of other options. Think about the lifestyle you want and what makes the most sense for you and your family. We live in Mexico full-time now.

What happens to my Social Security if I live in another country?

If you are a U.S. citizen, you may receive your Social Security payments outside the U.S. as long as you are eligible for them.

How long can you live outside the US without losing Social Security?

As is not the case with Medicare, retirees who decide to move to another country are still entitled to Social Security benefits. Once a retiree has been outside the country for 30 days in a row, he or she is considered outside the United States and the rules for collecting benefits apply.

What countries can I move to and still collect my Social Security?

Americans living in eight other countries — Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan and Uzbekistan — can receive Social Security payments only under certain strict conditions, one of which is agreeing to appear personally at a U.S. embassy or consulate every six months.

Where can I live for $500 a month in USA?

Without further ado – and in no particular order – here's what $500 per month can get you in ten affordable U.S. cities:
  • Greenville, OH. Listing: Wayne Crossing. ...
  • Wichita, KS. Listing: Eagle Creek. ...
  • Lawton, OK. Listing: Sheridan Square Apartments. ...
  • Amarillo, TX. ...
  • Indianapolis, IN. ...
  • Searcy, AR. ...
  • Shreveport, LA. ...
  • Jackson, MS.

Where do most Americans live in Mexico?

Expats tend to flock to the capital, Mexico City (Ciudad de México). With a metropolitan population of over 20 million people, this is not only the most populous city in North America, but also the largest city in the Spanish-speaking world and the sixth-largest city worldwide.

Can you live in Mexico on $1000 a month?

One can live in Mexico on $1,000 a month or even less quite easily. In fact, locals live on much tighter budgets. As a foreigner, you will see that pretty much everything costs less than in your home country. Rent, food, transportation and healthcare in Mexico are much cheaper than in the US, Canada or Western Europe.

Why are houses in Mexico made of concrete?

So, why are houses in Mexico made of concrete? Houses in Mexico are built with concrete due to factors such as its cost and accessibility, culture and heritage, resilience against the common natural disasters in the country, and its compatibility with the weather.

Is it cheaper to buy or build a house in Mexico?

Overall labor cost are what makes building a house in Mexico much more affordable.

How much does a house cost in Mexico in US dollars?

You can find a house for $100,000 USD or more in Mexico!

If you want to buy a small house, then your budget can be $100,000 USD or more. However, if you want a large home with an ocean view and many bedrooms, then your budget can be more than $1,000,000 USD. There are many options in between these two price ranges.

What happens to my 401k if I move to Mexico?

Unless there is a specific plan provision for it, your employer's 401(k) plan cannot expel you as long as you are a plan participant. In many cases, you can keep your 401(k) account with the plan provider even after you leave the company and the country.

Does Mexico report to IRS?

Your Mexican bank will have to report the interest on that account to the IRS. It is important to report that interest on your tax return on Schedule B. If your highest balance is under US$10,000 on any day of the year, it is strictly a check-the-box.

Do you have to pay property taxes in Mexico?

If you own property in Mexico, you'll pay property taxes. If you rent out that property or own a business, have a job, or have interest-bearing bank accounts, you'll owe income tax. Even if you have none of these, you'll still pay sales tax (known as Value Added Tax or VAT) on most retail goods and services.