Puerto Vallarta has seen remarkable growth in tourism, drawing short-term visitors and foreign residents. However, this surge in popularity has driven housing demand through the roof, with rental prices increasing by 40% to 60% in the past three years.
Many locals now find it difficult to afford living in the city’s central areas. Long-time residents near the iconic Malecón and in neighborhoods like Centro, Zona Romántica, and Marina are being displaced as rents skyrocket. Families who have lived and worked in these areas for generations are now forced to relocate to more affordable neighborhoods on the outskirts or even rural regions. The move signifies not only financial strain but also the loss of cultural roots and a deep sense of belonging.
Mayor Luis Munguía is working to address the housing crisis. During the Fourth National Congress of the INFONAVIT Workers Sector, he acknowledged the impact of Puerto Vallarta’s economic boom on property prices. To combat this, the mayor emphasized the importance of new public policies focused on developing affordable housing for residents. His administration is eager to partner with INFONAVIT to secure decent, affordable housing for all citizens.
To further address the housing issue, the mayor also stressed the importance of working with the private sector to encourage investment in social housing projects. “We’re committed to making Puerto Vallarta a place where everyone can thrive,” the mayor stated, calling for collaboration to support both local workers and the community at large.
“Let’s join forces for the well-being of Puerto Vallarta, Jalisco, and the entire country,” Munguía added. “We are ready to make things happen.”
While the growth of Puerto Vallarta is exciting and promising for many, ensuring that locals can afford to live in their own city is a priority for the administration. Through collaboration and strategic planning, there is hope that solutions will be implemented to ease the housing burden on Vallarta’s long-standing residents.
