From 2013 to 2023, household expenditure on housing rentals in Mexico has shown a significant upward trend, increasing from 253.91 billion Mexican Pesos in 2013 to 566.24 billion in 2023. This period experienced volatile growth, with notable year-on-year increases such as 28.82% in 2017 and 11.52% in 2020, whereas the most recent two-year period displayed mild increases with 0.78% in 2022 and 2.73% in 2023. The compound annual growth rate (CAGR) for the last five years stands at approximately 4.74%, reflecting steady yet moderate growth.
Future trends to watch for:
- Forecasted data suggests continued growth, albeit at a slower pace with a forecasted CAGR of 1.92% from 2024 to 2028.- By 2028, household expenditure on housing rentals is expected to reach 639.1 billion Mexican Pesos.- Socioeconomic factors, urbanization rates, and government housing policies will significantly influence future rental expenditures.
