Retiring to San Miguel de Allende in Mexico


Genia Jones
Content Specialist
Genia is a writer for FXcompared. She has over 15 years of experience working in the financial industry as a writer, analyst, marketer, and content strategist. She enjoys writing about emerging trends… Read more

San Miguel de Allende, located three hours from Mexico City and named the ‘most livable city’ by Conde Nast in 2013, is experiencing a surge in popularity with retirees looking for a safe, affordable, and culturally diverse place to live that also offers good food, a lively social scene, and temperate weather. Today, approximately one million American retirees make their home in Mexico, and of those, about 12,000 choose to live in San Miguel de Allende. This number is expected to rise over the coming years.

San Miguel de Allende's Growing Popularity

For retirees hoping to find an active, culturally diverse lifestyle combined with access to quality healthcare and social services, San Miguel de Allende could be an ideal fit. The city is a UNESCO World Heritage Site, with cultural, historical, and architectural significance. Its restaurant scene has developed an international reputation, its expat and retirement communities are well-connected and growing, and its proximity to several major airports makes it a convenient home base and an easy-to-reach destination.

Due to its growing English-speaking communities, San Miguel de Allende offers a variety of English-language services and goods. The city’s public library has the second-largest collection of English-language books in Mexico, and it publishes the bilingual local newspaper, Atención, popular with expats and locals alike. The site SanMiguelEvents also provides English-language news and community events.

san miguel de allende street vendor retirement

How Far Will Retiree USD Go in Mexico?

Retirees with US dollars to spend will generally find their money can go far in Mexico. While San Miguel de Allende can be more expensive than many other locations in Mexico, the favorable usd-peso exchange rate can help to offset the higher cost of living.

Depending on whether you’re in the market to buy property or to rent, prices in San Miguel de Allende can be substantially less expensive than what you would spend for a comparable place in the US. Two- or three-bedroom furnished apartments away from the city centro (not in the central part of town) can be rented for around USD$1,100 per month. Comparable homes for sale may be priced anywhere from $150,000 and up. The farther away from the center of town you’re willing to go, the lower the prices drop.

In addition to potentially substantial savings on real estate, the Mexican healthcare system can also be a bargain for savvy retirees. While there is currently no reciprocal healthcare agreement between the US and Mexico, many treatments and services within Mexico are much cheaper than in the US, with the quality of care and level of service equally good. There are several excellent healthcare facilities within San Miguel de Allende, and, for more serious procedures, hospitals in Querétaro, a city about an hour’s drive away with more than two million residents, are available. mangos mexico usd pesos retirement

Financing Your Retirement in San Miguel de Allende

If you’re planning to retire and live in a foreign country, then figuring out how to finance your retirement abroad should be at the top of your list of things to do. Keep in mind that American citizens who choose to live in Mexico will not pay taxes on pensions or on their social security benefits.

Currently, there are no restrictions on transferring money between the US and Mexico. If you plan to live full-time in Mexico, you’ll want to research the best options for transferring funds between the US and Mexico.

Working with a foreign currency specialist that specializes in international transfers is often the safest and most cost-effective way to send funds internationally. Sites like provide free information, research, and money transfer comparison tools that can help you find the best deal for your money transfer to Mexico. Researching your options before you make your move to Mexico can help you to find the most cost-effective methods for moving your money between countries.

Most Read

Use Our Currency Comparison Tool

Results are ranked in order of the best overall deal, taking into account transfer times, rates, fees, and customer service.

Editor's Choice is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.