Budget-Friendly Ways to Explore Mexico City

While Mexico City ranks among the pricier spots in Latin America, many travelers find it surprisingly affordable compared to major cities in Europe and the US.

Positioned as the 21st most expensive city globally, just ahead of Frankfurt, Mexico City has seen rising costs due to an influx of digital nomads and a remarkable 93% surge in hotel rates.

Nonetheless, there are still affordable experiences to be had, and Mexico City offers incredible value when you factor in its rich array of culinary and cultural attractions.

Daily Expenses in Mexico City

• Dormitory bed: MXN$260

• Room via Airbnb: MXN$440 to MXN$530

• Metro one-way ticket: MXN$5

• Entry fee for museums: MXN$70

• Michelada in a bar: MXN$50

• Tacos for two at a street vendor: MXN$30

• Meal for two at a casual dining spot: MXN$280

Typical daily expense: MXN$1050

Learn more: My costs for a medium-budget (long) weekend in Mexico City

Avoid the upscale neighborhoods

As Mexico City is vast, selecting the right neighborhood as your base is essential and can greatly influence your budget. Although Condesa, Roma, and Polanco are desirable, they are also the most costly due to a surge of foreign remote workers settling in these trendy areas recently.

Opt for accommodations in neighborhoods like Coyoacán in the southern part of the city. Once the home of Frida Kahlo, Coyoacán offers a bohemian atmosphere with more affordable options and a genuine taste of local culture. Though it’s a bit farther from the center, it's well-served by public transport and boasts attractions like Kahlo’s Casa Azul and the bustling Coyoacán Market.

Another neighborhood that strikes a balance between cost and safety is Centro Histórico—it features budget-friendly lodging and places you right among the city’s key attractions.

Plan your visit around Mexico’s festive calendar

A great time to visit Mexico City is during the Day of the Dead celebrations in early November. In these first days of the month, millions of locals, domestic travelers, and international visitors flock to the capital, causing a notable spike in accommodation and airfare prices.

Easter and Semana Santa (Holy Week) are consecutive festivals celebrated throughout Mexico. Many locals take vacations during these two weeks, making the city quieter and more affordable than usual.

However, the rest of spring is typically one of the more expensive seasons. Affordable times to visit include the rainy summer months of July, August, and September, or the colder months of January and February, which can deter some sun-seeking tourists.

Consider hostel hopping or staying with a local host

One of the easiest ways to save on accommodation is to choose a hostel, which can cost as little as MXN$190 per night in Mexico City. If hostels aren’t your style, there are plenty of budget-friendly Airbnbs available throughout the city.

Instead of booking an entire apartment, which can be pricier, many hosts offer their spare rooms for about MXN$430 per night.

If you're traveling as a couple, this can be just as affordable as a hostel dorm, but without the hassle of sharing with four or more people. Look for a place within walking distance to the local metro station to save both time and money.

Make public transportation your ally

Mexico City boasts one of the most affordable metro systems globally, with each single ride costing only five pesos.

Visit the station's ticket office to buy a paper ticket for each ride, or if you're staying longer, consider getting a Metro Card for about 15 pesos, which you can recharge at the machines as needed.

Similarly, the Metrobús costs six pesos, and you can also get an electronic card for just 10 pesos.

Seek out the best bargains for meals

Mexico City is a culinary powerhouse, and the fantastic aspect of its food culture is that you don’t need to dine fine to enjoy great meals. Its renowned street food can be incredibly affordable (think MXN$10 for a taco), and it’s one of the rare places where eating out can actually be cheaper than cooking at home.

Try dishes like elotes (corn on the cob) generously coated with mayo, cheese, and spicy salsas, marquesitas (crispy crepes), tortas (large Mexican sandwiches), and gorditas (stuffed corn cakes).

However, be cautious: a low price isn’t worth the risk of stomach issues, so look for busy stalls with lines of locals, which indicate a good reputation and fresh food.

Lunch like a true local

Another great way to stretch your food budget is to dine at a comedor or fonda—family-run cafeterias popular among office workers during their lunch breaks. These spots offer comida corrida—quick, easy, and home-cooked meals.

Keep an eye out for simple places with handwritten signs that say menú del día. This fixed-price menu typically includes three to four courses, featuring soups, stews, fresh juices, and desserts like arroz con leche (rice pudding), all for 50 to 80 pesos.

Another great choice is to visit one of the branches of Casa de Toño, often referred to as Mexico City’s version of McDonald’s, serving delicious antojitos mexicanos (Mexican snacks) like tacos, quesadillas, and flautas.

Take advantage of the city's rich cultural sites and experiences

Mexico City's abundance of history, architecture, and culture means it’s brimming with museums and art galleries.

Many museums offer free admission on Sundays, and the rest of the week, entry is around MXN$70. You can see the iconic murals by Diego Rivera for free at the Secretaría de Educación Pública or Palacio Nacional.

The city hosts a packed annual calendar of cultural events, including film festivals, fairs, music concerts, and exhibitions, most of which are free to attend.

Grab a picnic and enjoy a day at the park

Even as a bustling metropolis, Mexico City boasts spacious parks and green areas where you can explore at your leisure.

Parque Bicentenario features a beautiful orchid garden, various sports fields, and a large lake that’s ideal for picnicking.

Chapultepec Park, often referred to as the Central Park of Mexico City, offers enough attractions to fill an entire day. This expansive area includes a zoo and is home to the Museo Nacional de Antropología and Castillo de Chapultepec, both a short hike up Chapultepec Hill.

Explore Mexico City’s markets for hidden gems

In Mexico City, it’s easy to overspend on souvenirs. However, the capital is brimming with public markets and tianguis (flea markets) filled with fantastic bargains on handicrafts, second-hand clothes, artisan goods, and quirky home decor.

Mercado de Artesanías la Ciudadela is one of the most popular and budget-friendly options in the city. While some markets, like Mercado Medellín in Roma Sur, may lean towards the pricier side, many still offer great deals.

Celebrate the Mexican way in the city’s most vibrant social hub

One of the safest and most budget-friendly nightlife spots is Zona Rosa, located just west of the city center, popular with both locals and tourists.

Known for its accessibility and welcoming atmosphere, this area is one of the most LGBTIQ+-friendly neighborhoods in the city and is home to a growing Korean community.

The zone is packed with cantinas, bars, karaoke spots, and antros (nightclubs). Check out La Marchela, a vibrant terrace bar offering great views and affordable drinks, or explore the local gay scene at Kinky Bar or Cabaretito Fusión. Stick to beer to avoid racking up a large bill on cocktails.