Generally, the cost of living in Mexico is considerably cheaper than in the U.S. in terms of rent, groceries, utilities, transportation, and more. For example, rent can be as much as 71.2% cheaper in Mexico, while overall prices are 50% to 100% less.
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Key Takeaways. The cost of living in Mexico is 45.7% lower than in the U.S. You can thus get by on $600 to $2,000 a month. From rent to groceries, utilities to an internet connection, and dining out to transportation, everything is more affordable in Mexico compared to the U.S.
Living in Mexico on $500 per month: ConclusionJust to recap, it IS possible to live in Mexico on $500 per month, but it is difficult. My top recommendation for where to live in Mexico on $500 per month is San Cristobal de las Casas because it's a beautiful city with lots of things to do and it's very inexpensive.
The cheapest countries in the world are generally located in Asia, Africa, and South America, with a few exceptions in Europe. Pakistan tops the list of the cheapest countries in the world, with a cost of living index of $294.
For smaller portions, such as a 12-oz can, 20-oz bottle, or 1-liter bottle, the price ranges between 10 pesos to 20 pesos, but almost always under $1 USD. As mentioned earlier, drinking a 2-liter of Coke is a daily ritual for many Mexican nationals.