The average home in Mexico was appraised at about MXN 1.96 million, roughly US$105,000, in the first half of 2026, and the median was about MXN 1.3 million (US$69,000). Los Cabos is a different market: on 6 November 2026 only 63 of the 511 houses listed on the Los Cabos MLS asked less than US$300,000, and the typical house asked between US$700,000 and US$1.1 million depending on the area.
This guide puts the two numbers side by side, explains why they are so far apart, and shows what a given budget buys in Los Cabos today.
Key facts
- Mexico national average home value: MXN 1,960,032 (about US$105,000); median MXN 1,299,580 (about US$69,000), Q2 2026, up 7.3% on a year earlier (SHF index).
- Baja California Sur average: MXN 2,615,393 (about US$140,000), the second-highest state after Mexico City.
- Los Cabos MLS, 6 Nov 2026: 511 active houses and 1,039 active condos in San José del Cabo, the two Corridor zones and Cabo San Lucas.
- 141 of those houses (28%) ask US$3 million or more; 63 (12%) ask under US$300,000.
- Median asking price for houses in October 2026: about US$725,000 in Cabo San Lucas and US$1.11 million in San José del Cabo (Flexmls market statistics).
Sources: SHF housing price index, Q2 2026 (via IIEG Jalisco report); Banxico FIX 18.7147 MXN/US$ on 5 Nov 2026; Los Cabos MLS (Flexmls), active listings pulled 6 Nov 2026.
How much is a house in Mexico on average?
The most-quoted national figure comes from the Sociedad Hipotecaria Federal (SHF), the federal mortgage agency. Its housing price index is built from appraisals of homes bought with a mortgage. For the second quarter of 2026 it put the national average at MXN 1,960,032 and the median at MXN 1,299,580, with prices up 7.3% year on year (SHF data, Q2 2026 report).
At the Banco de México FIX rate of 18.7147 pesos per dollar on 5 November 2026 (Banxico), that is about US$105,000 on average and US$69,000 at the median.
The spread between states is wide. Mexico City had the highest average, MXN 4,285,135 (about US$229,000); Tamaulipas the lowest, MXN 1,147,405 (about US$61,000). Baja California Sur, the state that includes Los Cabos, came second at MXN 2,615,393, about US$140,000.
Why do Los Cabos prices look so different?
Three reasons explain most of the gap.
- Different homes are being measured. The SHF index covers homes bought with Mexican mortgage credit, much of it modest housing for local families. The Los Cabos MLS is dominated by resort and second-home property sold to buyers from the US, Canada and Mexico’s big cities, mostly for cash.
- Dollar pricing. Almost all Los Cabos listings are priced in US dollars, so they move with international demand rather than local wages.
- Location premium. Ocean views, gated golf communities, beach clubs and an international airport put Los Cabos in the same conversation as other resort markets, not with inland Mexican cities.
So the national average tells you what housing costs for most Mexican families. It does not tell you what an ocean-view condo in Cabo costs. For that you need MLS data.
What does a house cost in Los Cabos right now?
We counted active MLS houses in the four central Los Cabos zones (San José del Cabo, San José Corridor, Cabo Corridor and Cabo San Lucas) on 6 November 2026:
| Asking price (US$) | Houses | Condos |
|---|---|---|
| Under $300,000 | 63 | 287 |
| $300,000 – $499,999 | 98 | 376 |
| $500,000 – $999,999 | 107 | 259 |
| $1,000,000 – $2,999,999 | 102 | 117 (all $1M+) |
| $3,000,000 and up | 141 | |
| Total | 511 | 1,039 |
Los Cabos MLS (Flexmls), active houses and condos, zones San José del Cabo, San José Corridor, Cabo Corridor and Cabo San Lucas, pulled 6 Nov 2026. Asking prices, not sale prices. Some low-priced condo listings are older units in town; check whether any listing is a fractional share.
The least expensive house in those zones was asking US$147,800, a three-bedroom of about 1,000 sq ft in the Venados neighbourhood of Cabo San Lucas. At the other end, 141 houses asked US$3 million or more.
Median asking prices by zone, from Flexmls market statistics for October 2026:
- Cabo San Lucas: houses about US$725,000; condos about US$344,500.
- San José del Cabo: houses about US$1.11 million; condos about US$536,000.
- Cabo Corridor: houses about US$563,000 (the zone mixes inland neighbourhoods such as El Tezal with oceanfront estates).
- Pacific side: houses about US$897,000.
A median moves with the mix of listings, so treat these as a snapshot, not a trend. For sold prices by community, see the Los Cabos Market Report for November 2026.
What does each budget buy in Los Cabos?
Under US$300,000
Mostly condos: 287 were listed in this band, against 63 houses. Expect one- and two-bedroom units in Cabo San Lucas and San José del Cabo neighbourhoods, often without ocean views, and simple houses in residential colonias where most neighbours are local families. This is the closest Los Cabos gets to the national average.
US$300,000 to US$1 million
The busiest part of the market for condos (635 listings) and a real choice of houses (205). This is where you find ocean-view condos in established complexes, newer developments in San José and the Corridor, and three-bedroom homes in gated neighbourhoods. Browse by area: Cabo San Lucas, San José del Cabo, Cabo Corridor.
US$1 million to US$3 million
Larger homes in golf and gated communities, beach-access condos and new construction. 102 houses and part of the 117 condos at US$1 million or more sit here.
US$3 million and up
Oceanfront and big ocean-view estates in communities such as Pedregal, Palmilla, Querencia, Puerto Los Cabos and the Corridor resorts. Almost three in ten listed houses are in this band, which is why Los Cabos averages look high next to the rest of Mexico.
What else should you budget for?
The asking price is not the whole cost. Buyers in Baja California Sur pay a 3% state acquisition tax plus notario, appraisal, registry and bank-trust fees; see our guide to closing costs in Los Cabos. Foreign buyers hold coastal property through a bank trust, explained in fideicomiso vs Mexican corporation. After closing, owners pay HOA fees, predial (property tax) and utilities; most budgets are dominated by HOA dues rather than tax.
Is Los Cabos expensive compared with the rest of Mexico?
Yes. By the official measure, the whole state of Baja California Sur is already the second most expensive in Mexico, and Los Cabos listings sit far above the state average because they are priced for international buyers. Compared with US and Canadian coastal markets, though, many buyers still find more space and views for the money, especially in condos between US$300,000 and US$1 million.
Frequently asked questions
How much is a house in Mexico?
The SHF index put the national average home value at MXN 1,960,032 (about US$105,000) in the second quarter of 2026, with a median of MXN 1,299,580 (about US$69,000). Prices rose 7.3% on a year earlier.
How much is a house in Los Cabos?
On 6 November 2026 the Los Cabos MLS listed 511 houses in the central zones. 63 asked under US$300,000 and 141 asked US$3 million or more. Median asking prices in October 2026 were about US$725,000 in Cabo San Lucas and US$1.11 million in San José del Cabo.
What is the cheapest house for sale in Los Cabos?
The lowest-priced house in the central Los Cabos zones on 6 November 2026 asked US$147,800, a three-bedroom of about 1,000 sq ft in Venados, Cabo San Lucas. Low-priced listings change quickly; ask us for the current list.
Can I buy a condo in Cabo for under US$300,000?
Yes. 287 condos in the central Los Cabos zones asked under US$300,000 on 6 November 2026, mostly smaller units in Cabo San Lucas and San José del Cabo. Check HOA fees and whether a listing is a full title or a fractional share.
Are Los Cabos homes priced in dollars or pesos?
Almost all Los Cabos MLS listings are priced in US dollars. The deed and taxes are calculated in pesos at closing, so the exchange rate on the day matters for the 3% acquisition tax and fees.
Summary
A typical Mexican home costs around US$70,000 to US$105,000. A typical Los Cabos house asks closer to US$700,000 to US$1.1 million, and condos start around US$100,000 with most between US$300,000 and US$1 million. The gap is about who buys, how homes are priced and what the location offers. Start with your budget band, then compare areas on the live listings.
Talk to our team. Tell us your budget and the areas you are weighing, and we will send current listings with recent sales for context. Contact us, message us on WhatsApp, or write to [email protected].
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