MEXICO · COUNTRY GUIDE
Mexico Money Guide: Pesos, Tipping and Daily Costs
The old idea of Mexico as a cheap holiday only half survives. Street food and local buses are still good value, but resort prices can match those at home, and the peso reached a near nine-year high against the dollar in 2024.
Expect about 574 pesos a day for food and local transport if you eat simply, and about 900 for a more comfortable day, not including your hotel or tours. Pay in pesos, carry some cash and use ATMs inside banks or shops.
The Currency
Mexico uses the peso (MXN), written with a $ sign, which can cause confusion in tourist areas where dollars are also quoted. Notes in common use are 20, 50, 100, 200 and 500 pesos. The 1,000-peso note is rare, and small shops may struggle to change large notes. Exchange rates change daily, so check the current Banco de México rate before you travel.
What Things Cost
Typical prices in pesos, from Numbeo's crowd-sourced data as of 8 November 2026. Tourist areas often cost more.
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| Item | Mexico average | Mexico City |
|---|---|---|
| Meal at an inexpensive restaurant | 200 | 200 |
| Mid-range dinner for two, three courses | 800 | 950 |
| Domestic draught beer, 0.5 litre | 50 | 60 |
| One-way local transport ticket | 12 | 6 |
| Taxi start, standard tariff | 50 | 35 |
Example daily spending in pesos, excluding accommodation and tours. Our own estimates based on the prices above.
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| Style | What it covers | Approximate cost |
|---|---|---|
| Simple day | Two inexpensive meals, one beer, two local trips, one short taxi | About 574 |
| Comfortable day | An inexpensive lunch, your half of a mid-range dinner, two beers, a couple of taxis | About 900 |
Destination matters more than style. Tulum, Los Cabos and the resort strip in Cancún can be far above these figures, while Oaxaca and Mérida often feel like better value. Add entry fees for archaeological sites and state visitor fees to your budget.
Tipping
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| Service | Typical tip |
|---|---|
| Restaurants | 10% to 15%; check whether service has been added |
| Hotel porters | 20 to 50 pesos per bag |
| Taxi drivers | Not generally expected |
| Tour guides | Usual, depending on the service |
Mexico's 16% value-added tax, IVA, is included in or added to many bills, and it goes to the government, not to the staff.
Cash, Cards and ATMs
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| Topic | Advice |
|---|---|
| ATMs | Use machines in banks, shops or malls, during daylight |
| Airport | Canada advises against withdrawing or exchanging money in public areas of the airport |
| Taxis | Avoid paying by card inside a taxi |
| Card payments | Choose to pay in pesos if the terminal offers a conversion |
| Small change | Carry smaller notes for markets, stalls and tips |
Are Beach Resorts Really More Expensive?
Less than you might expect, at least at the table. Numbeo's contributors put an inexpensive meal at 200 to 250 pesos in all five cities below, and a mid-range dinner for two sits between 800 and 1,050 pesos. Mexico City is not noticeably cheaper than Cancún for a meal.
Taxis tell a different story. The starting fare is 80 to 85 pesos in Cancún and Puerto Vallarta, against 35 in Mexico City. Resort budgets tend to leak through transfers, drinks by the pool and hotel rates, so that is where to pay attention.
Typical prices in pesos from Numbeo, 8 November 2026. Cancún and Puerto Vallarta rest on about 20 contributors each, so treat them as rough. At the 30 October exchange rate, 100 pesos was about US$5.
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| City | Cheap meal | Dinner for two | Beer, 0.5 l | Cappuccino | Taxi start |
|---|---|---|---|---|---|
| Mexico City | 200 | 950 | 60 | 70 | 35 |
| Guadalajara | 250 | 800 | 50 | 67 | 40 |
| Mérida | 249 | 1,000 | 55 | 71 | 50 |
| Cancún | 200 | 1,000 | 58 | 69 | 80 |
| Puerto Vallarta | 250 | 1,050 | 55 | 75 | 85 |
What a Week Really Costs
Here is a worked example for one person spending a comfortable week in the Yucatán, with two big archaeological sites and the Quintana Roo visitor fee. It leaves out flights, hotels and tours, which vary too much to be useful in a single figure.
Our own estimate, using the daily figure above and reported 2026 entry fees.
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| Item | Pesos |
|---|---|
| Food, drinks and local transport, seven days at 900 pesos | 6,300 |
| Chichén Itzá, including the state charge | 676 |
| Tulum archaeological site | 209 |
| VISITAX | 283 |
| Total before flights, hotels and tours | 7,468 (about US$397) |
If You Are Looking at Longer Stays
Plenty of readers come here asking about the cost of living, not the cost of a holiday. Rent is where cities really separate. A one-bedroom in central Mérida averages about 53% of the Mexico City figure, while central Puerto Vallarta is the most expensive of the five, ahead of the capital.
Average monthly rent in pesos for a one-bedroom apartment, from Numbeo, 8 November 2026. Furnished short lets usually cost more.
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| City | City centre | Outside the centre |
|---|---|---|
| Mérida | 11,515 | 8,296 |
| Guadalajara | 16,962 | 9,469 |
| Cancún | 17,950 | 13,060 |
| Mexico City | 21,620 | 14,482 |
| Puerto Vallarta | 23,800 | 12,700 |
These are visitor-level numbers and they do not cover residency, tax or health cover. Anyone planning to stay beyond a tourist permit needs advice on those first.
Build a Monthly Budget from an Actual Rental Quote
Use the dated rent table to compare cities, not as an offer for a furnished holiday apartment. The monthly average for a normal one-bedroom tenancy and the price of a short stay can describe different products. Before choosing Mérida over Mexico City because the first rent figure is lower, compare accommodation for the same dates, length of stay, number of people and standard of furnishing.
Ask for the full accommodation total in pesos. Check whether electricity, water, internet, cleaning and any booking charge are included; if not, ask how they are charged. Air-conditioning use can matter to an individual bill, but there is no reliable nationwide utility allowance to add to every rental. Use the property's actual terms rather than a guessed fixed surcharge.
- Accommodation: the confirmed rent and compulsory charges for the exact stay.
- Everyday living: your likely balance of groceries, restaurant meals, drinks and laundry. A kitchen only saves money if you will use it.
- Local travel: the real journey from that address to the places you will visit. A cheaper outer neighbourhood may be poor value if it creates frequent taxi trips.
- One-off spending: intercity journeys, arrival transfers, essential equipment and any costs associated with your own immigration situation.
- Cash needed in advance: a deposit or payment before arrival. Track this separately from spending you expect to keep, and read the refund conditions.
For a first month, separate the amount you know from the amount you are estimating. The daily food and transport examples above can help you choose categories, but multiplying a holiday day by a month does not automatically produce a cost-of-living figure. Someone cooking most meals, someone taking tours every week and a couple sharing one rent will have very different totals.
Finally, a cheap apartment does not settle permission to stay, work, tax or medical cover. Check the entry requirements and arrange advice appropriate to your circumstances if you are considering more than a normal holiday. Keep accommodation payments flexible until the length and purpose of the stay are clear.
Where Visitors Lose Money
- Card skimming. Canada's advice says ATM and card fraud occurs frequently. Cover the keypad, and keep your card in sight when you pay.
- Bar bills. Some bars and nightclubs try to overcharge. Ask for the price before ordering, and check the bill line by line.
- Timeshare pitches. Disputes over timeshare deals are common enough for Canada to warn about them. A free breakfast or discounted tour is often the opening move.
- Fake fines. If someone claiming to be police asks for cash, do not hand over money or your passport. Ask for a written copy of the fine.
Mexico Money FAQ
Is Mexico expensive to visit?
It depends where you go. Street food and buses are good value, while Tulum and Los Cabos can be expensive.
How much money do I need per day in Mexico?
About 574 pesos for simple food and local transport, or 900 for a more comfortable day, before your hotel and tours.
Should I use dollars or pesos in Mexico?
Pesos. Dollars may be accepted in resort areas, but the exchange rate is usually poor.
How much should I tip in Mexico?
Usually 10% to 15% in restaurants.
Is Cancún more expensive than Mexico City?
Restaurant prices are similar, but taxis, hotels and resort extras usually make Cancún the more expensive trip.
What is the cost of living in Mexico?
It depends heavily on the city. Average rent for a central one-bedroom ranges from about 11,500 pesos in Mérida to about 23,800 in Puerto Vallarta.
Price Data Sources
Facts were checked on 8 November 2026. Price data comes from Numbeo, which is crowd-sourced. Daily totals are our own estimates. Tipping guidance is based on Frommer's. Banknote details come from Wikipedia. No live exchange rate is quoted here; the US-dollar illustrations use the dated conversion example identified below. Safety advice comes from UK Foreign Office and Government of Canada. City prices and rents come from Numbeo's pages for each city. That historical conversion example is the Banco de México FIX of 18.79 pesos per dollar for 30 October 2026, as reported by Publimetro.