Asking how much a square meter costs in Mexico does not have a single answer, and anyone who gives a single figure for the whole country is guessing. What can be done is to count the listings, split them by city and by property type, and say what sample size is being discussed. That is Espacio 54’s price index: as of the September 28, 2026 cutoff, it brings together 17,965 comparable listings spread across 86 cities and 121 market cuts. This article explains what those numbers say, where they are enough to support a claim, and where they are not.
What’s Inside the 17,965 Comparables
The index does not mix different products, because a lot and a finished house are not compared with each other. They are separated:
- Houses and apartments: 15,118 listings in 76 cities.
- Lots and land: 2,847 listings in 44 cities.
Each cut stores the median price per square meter, the range between the 25th and 75th percentiles, and the number of listings supporting it. The median splits the sample in half: half of the listings in that city ask less and half ask more. The median is used instead of the average on purpose, because one disproportionate listing moves an average and does not move a median.
The index is recalculated every week, on Mondays. The numbers in this article are from the September 28, 2026 cutoff.
The Rule That Decides Whether a City Is Priced or Not
The most important thing about the index is not the price: it is knowing when to stay silent. The rule is by state and has three tiers.
- Fewer than 300 listings in the state: not priced. No specific price per square meter is published, neither here nor on the valuation pages. There is nothing to support it.
- Between 300 and 500: priced with a limited-sample note. The number is published, but with the warning attached.
- 500 or more: the sample is solid and the specific price can be read as a market reference.
With the current cutoff, the states with solid samples are Jalisco (10,103 listings in 21 cities), Nuevo León (2,234 in 7), Mexico City (1,971 in 10), Estado de México (875 in 8), and Yucatán (778 in 5). Querétaro, with 427, and Sinaloa, with 303, fall into the limited-sample tier. Everything else —and there is a lot of it: the Pacific coast, the Caribbean, the Bajío— is not priced yet, and saying so is part of the data.
That is why 86 cities appear in the index but not all have their own page: a city needs at least 12 listings to open one, and today 113 of the 121 cuts reach that floor.
Houses and Apartments: The Medians in the Cut
These are the cities with the largest samples, all in states with solid samples. The figure is the median per square meter, and in parentheses is the P25–P75 range and the number of listings.
- San Pedro Garza García, Nuevo León: $114,628/m² ($75,758 to $141,600 · 349 listings)
- Cuauhtémoc, Mexico City: $76,216/m² ($60,700 to $93,465 · 335)
- Miguel Hidalgo, Mexico City: $68,234/m² ($48,554 to $88,487 · 402)
- Benito Juárez, Mexico City: $60,476/m² ($47,496 to $71,667 · 345)
- Guadalajara, Jalisco: $57,772/m² ($38,285 to $71,439 · 1,908)
- Álvaro Obregón, Mexico City: $50,000/m² ($39,625 to $64,302 · 311)
- Zapopan, Jalisco: $43,950/m² ($32,208 to $60,000 · 4,480)
- Huixquilucan, Estado de México: $42,764/m² ($34,068 to $54,138 · 428)
- Monterrey, Nuevo León: $42,627/m² ($31,916 to $66,518 · 335)
- San Nicolás de los Garza, Nuevo León: $31,500/m² ($22,520 to $54,591 · 347)
- Tlajomulco de Zúñiga, Jalisco: $28,130/m² ($23,927 to $34,809 · 1,089)
- Mérida, Yucatán: $25,758/m² ($21,200 to $37,094 · 515)
There are two things worth reading carefully in this list. The first is that the distance between San Pedro Garza García and San Nicolás de los Garza, two municipalities in the same metropolitan area, is almost fourfold. Talking about “prices in Monterrey” without naming the municipality does not mean much. The second is the width of the ranges: in Monterrey the P75 is more than double the P25. A wide range is not a measurement error; it is the sign that very different markets are living together under the same name there, and that a single number is not enough to decide.
Lots: Another Product, Another Scale
The square meter of land is not read the same way as the square meter of construction. A house’s square meter includes years of work, finishes, and installations; a lot’s square meter reflects the frontage, the available services, and what can be built there. Mixing them leads to mistaken conclusions.
- Guadalajara, Jalisco: $21,000/m² (182 listings)
- Zapopan, Jalisco: $16,000/m² (786)
- García, Nuevo León: $11,302/m² (119)
- Tlajomulco de Zúñiga, Jalisco: $8,502/m² (462)
- Tonalá, Jalisco: $7,700/m² (101)
- Mérida, Yucatán: $5,311/m² (105)
- General Escobedo, Nuevo León: $4,000/m² (95)
- Tapalpa, Jalisco: $1,300/m² (85)
The scale runs from Guadalajara to Tapalpa by a factor of sixteen, and that describes well the underlying decision of anyone buying land: the cheap square meter is almost always paid for in time, in services yet to be resolved, or in distance.
What the Index Is Not
It is a market reference built from published supply: what people are asking, not what closed. It does not include off-market transactions or what developers do not publish. And no price per square meter, no matter how good the sample, replaces a valuation that looks at the specific property, its actual condition, its exact location, and its paperwork.
It is published this way, with the sample visible and with the states that are not priced named, because a number without its sample cannot be verified. If a city does not appear, the honest answer is that there is still nothing to support it.
Where to Go Next
Each city in the index has its own page with the median, the range, the sample, and the cutoff date: there you can see how much a property is worth in that specific area.
And if what you are looking for is not a number but a house, Espacio 54’s selection goes another way: few houses, chosen one by one, each with the reason written for why it is there. You can see it in Casas con Razón. Two examples of what that means: Cantera Real, a country community with a lake and an environmental reserve an hour from Monterrey, and Casa Cuarcita, signature architecture by OMOS Arquitectos, a finalist for the 2024 Firenze International Architecture Award.
