Mexico's two big Pacific-coast expat markets, at different price points and personalities. Los Cabos is the USD-priced luxury-resort anchor; Puerto Vallarta is the older, more walkable, more mixed town. The comparison below is drawn from live inventory in each.
Los Cabos vs Puerto Vallarta — the numbers
| Los Cabos | Puerto Vallarta | |
|---|---|---|
| Current Casza listings | 420 | 385 |
| Median asking price | $457,576 | $361,502 |
| Median price / m² | $3,118 | $3,188 |
| Apartments / houses | 61% / 39% | 57% / 43% |
Derived from live Casza inventory in each market (USD equivalent) — a snapshot, not whole-market statistics. Highlighted = the value-leaning side on that row.
How to read the table
One currency note frames this whole comparison: a lot of Los Cabos inventory is priced in US dollars, while more of Puerto Vallarta's is in pesos — so peso movements can shift the real gap between them even when the table doesn't. Beyond that, median price shows Cabo's clear premium, price per m² quantifies how much you pay for the resort positioning, and inventory depth reflects two differently sized markets. Use the numbers to size the budget difference, then decide whether Cabo's amenities justify it for how you'll actually live.
The verdict
Choose Los Cabos for resort-grade amenities, golf and marinas, if you're comfortable at international (often USD) price points. Choose Puerto Vallarta for a more walkable, characterful town with a longer-settled expat community and year-round rental demand at friendlier prices. Both are coastal — both use a fideicomiso.
Current Los Cabos listings
Departamento en Vistavela Iii Residencial, El Tezal, Cabo San Lucas, Baja California Sur, México
$459,244 · MX$7,918,000
3 bd · 154 m²
Departamento en San Antonio, Los Cabos, Baja California Sur, 23454, Mex
$404,821 · MX$6,979,676
2 bd · 126 m²
Casa en Club De Golf Residencial, Los Cabos
$1,036,737 · MX$17,874,780
4 bd · 308 m²
Ownership: both need a fideicomiso
Both markets are on the coast, inside the restricted zone, so foreigners buy through a fideicomiso — a 50-year renewable bank trust with full use, sale and inheritance rights.
Sources