Puerto Vallarta’s booming tourism industry has brought a surge of both short-term visitors and foreign residents, driving up housing demand and causing rental prices to soar by 40% to 60% over the past three years. This rapid growth has led to a housing crisis, with many locals struggling to afford living in the city’s central areas.
Long-time residents in neighborhoods like Centro, Zona Romántica, and Marina, as well as those near the iconic malecón, are being displaced as rents skyrocket. Families who have lived in these areas for generations are now forced to move to more affordable neighborhoods on the outskirts or even rural areas, leading to financial strain and a loss of cultural ties and community roots.
In response, Mayor Luis Munguía is actively seeking solutions to the housing crisis. Speaking at the Fourth National Congress of the INFONAVIT Workers Sector, he acknowledged that Puerto Vallarta’s economic growth has pushed property prices out of reach for many locals. The mayor emphasized the need for new public policies focused on affordable housing development and expressed a desire to partner with INFONAVIT to secure decent, affordable housing for the city’s residents.
Additionally, Mayor Munguía called for collaboration with the private sector to encourage investment in social housing projects. “We are committed to making Puerto Vallarta a place where everyone can thrive,” he stated, urging the community to work together for the benefit of local workers and the broader population.
“Let’s join forces for the well-being of Puerto Vallarta, Jalisco, and the entire country,” he added. “We are ready to make things happen.”
While Puerto Vallarta’s growth is exciting for many, ensuring that long-standing residents can continue to afford to live in the city remains a top priority for the administration. Through collaboration and strategic planning, there is hope that solutions will emerge to alleviate the housing burden on Vallarta’s local population.