Vacation rental ROI in the Riviera Maya: how much you can really earn

In short: According to market estimates, a well-managed vacation rental in the Riviera Maya can deliver a net rental return of roughly 7% to 10% a year in Playa del Carmen and Puerto Morelos, and more in Tulum with the right property. Operating expenses take 30% to 50% of gross income, and appreciation can add to the total return. Be wary of any projection that leaves out expenses, seasonality and a conservative scenario.

If you search for information on vacation rentals in the Riviera Maya, you will find promises of 10%, 12% or even 15% a year. Some of those numbers are possible, but they require conditions not every property meets. Here we bring together benchmark figures by area, real expenses and how to calculate an ROI you can stand behind.

What determines the real ROI of a vacation rental?

The return depends on a few variables that interact with one another. If one of them fails, the final number changes a lot:

• Purchase price: your starting point determines everything.
• Average daily rate (ADR): how much you charge per night.
• Occupancy rate: what percentage of the year the property is booked.
• Operating expenses: management, cleaning, platforms, maintenance, insurance and taxes.
• Financing: if you buy with a loan, the cost of money reduces your net return.
• Appreciation: the increase in the property's value, which matters more the longer your horizon (5 to 10 years).

To check real occupancy and rates by area you can use AirDNA data, and for each destination's hotel occupancy, the official statistics from DATATUR. For the step-by-step formula, read how to calculate the ROI of a vacation property.

How much can you earn by area in the Riviera Maya?

The figures in this table are market estimates for well-managed properties; treat them as a starting point, not a guarantee.

Area and type	Nightly rate (USD)	Estimated occupancy	Estimated net rental ROI
Tulum (Aldea Zamá, Tulum-Boca Paila road)	150 – 400	65% – 75%	Can exceed 10%; up to 15-16% in very favorable cases
Tulum town, 2-bedroom condo	150 – 250	70% – 80%	—
Playa del Carmen, 1-2 bedroom apartment in a tourist area	80 – 200	60% – 75%	8% – 10%
Puerto Morelos	70 – 150	55% – 65%	7% – 9%
Puerto Morelos, beachfront penthouse	250 – 450	70% – 75%	—
Puerto Aventuras, 3-bedroom villa with pool	300 – 600	60% – 70%	—

Tulum is the most dynamic market for premium tourist demand, Playa del Carmen the most mature and balanced, and Puerto Morelos offers lower rates but also more accessible entry prices and lower risk. Get to know each destination: Tulum, Playa del Carmen and Puerto Morelos.

What does the calculation look like with real numbers?

Three examples illustrate the range. All are based on rate and occupancy assumptions; change one and the result changes.

Example	Price	Rate / occupancy	Annual gross income	Assumed expenses	Net income	Net ROI
Studio in Tulum	USD 180,000	USD 180 / 65%	~USD 42,700	30-35%	~USD 27,700 – 29,900	~15-16%
Apartment in Playa del Carmen	USD 200,000	USD 120 / 65%	~USD 28,470	30-35%	~USD 18,500 – 19,900	~9-10%
2-bedroom condo in Playa del Carmen	USD 280,000	USD 200 / 70% (255 nights)	~USD 51,000	50%	~USD 25,500	~9.1%

The Tulum example is exceptional, not typical. If you apply 45% expenses to the same studio, net income drops to about USD 23,500 and net ROI to around 13%. And if real occupancy is lower than assumed, it drops even further. That is why you should always calculate a conservative scenario, for example 15% below the optimal one.

Which operating expenses eat into the return?

The most common mistake is calculating ROI on gross income. According to market estimates, the expenses of a vacation rental represent 30% to 50% of gross income, depending on the management model and the platform.

Item	Approximate range
Property management	15-25% of gross income (some managers charge 20-30% of net income)
Platform fees (Airbnb, Vrbo, Booking)	From 3-5% up to 15-20% of income, depending on the fee structure
Cleaning and laundry	5-8% of gross income (USD 50-120 per turnover)
Maintenance and repairs	3-5% of income, or 1-2% of the property value per year
Building maintenance fee	USD 100-400 per month
Property insurance	USD 500-2,000 per year
Property tax (predial)	USD 200-800 per year, depending on assessed value
Bank trust (fideicomiso) for foreigners	USD 500-700 per year
Furniture replacement	Every 3-5 years

A quick rule: estimate your net income by multiplying gross income by 0.50-0.70. To dig deeper into what Airbnb really earns, see the real profitability of Airbnb in the Riviera Maya.

How much does seasonality matter?

A lot: occupancy is not even throughout the year, and it is the factor most often left out of projections. These are the benchmark ranges used in the market:

• High season (December-April): 80-95% occupancy and premium rates.
• Shoulder season (May-June and November): 50-65% occupancy.
• Low season (July-October): 40-55% occupancy, with possible hurricane impact.

The properties that maximize ROI have active management: they adjust rates dynamically and are listed on several platforms. Airbnb dominates short stays, Booking.com attracts European travelers well and Vrbo works for longer stays with North American guests.

Rental pool or independent management?

It depends on how involved you want to be. In a rental pool, the development's manager runs all units as a single inventory and shares income proportionally: it is convenient, but your unit shares income with the others regardless of its location or quality.

Independent management, with your own manager or on direct platforms, usually generates 10% to 20% more ROI than a rental pool, although it requires more follow-up. You do not need to live in Mexico: a local manager handles check-in, cleaning, maintenance and monthly reports. At L'Agence we manage more than 30 vacation properties and are Airbnb Superhosts; learn about our property management service.

What about appreciation?

Appreciation is the component with the greatest impact if you invest for 5-10 years. According to market estimates, well-located properties in premium areas of the Riviera Maya have appreciated by around 8-12% a year, with higher peaks in high-growth areas during boom years. It is neither linear nor guaranteed.

In the Playa del Carmen condo example, a 9.1% rental return plus an assumed 10% appreciation would give a total return close to 19%. That is a favorable scenario: with less appreciation or lower occupancy, the total drops. See which areas have the best outlook in the highest-appreciation zones in Quintana Roo.

How does it compare with other investments?

For reference, international stock markets have historically returned 7% to 10% a year with greater volatility, and rental property in US cities yields net returns of 4% to 7%, according to common estimates. Bank deposits in Mexico offer no appreciation and no tangible asset, and their yield depends on the Bank of Mexico benchmark rate: check the current one before comparing.

Which risks can reduce your ROI?

No analysis is complete without risks. The main ones are:

• Seasonality: months with low occupancy.
• Weather: the Atlantic hurricane season runs from June to November; well-built properties rarely suffer structural damage, but occupancy drops. Sargassum also affects some beaches; SEMAR (the Mexican Navy) coordinates its monitoring and containment.
• Regulation: changes in vacation rental rules and condominium bylaws.
• Competition: new properties entering the market, especially in areas with a lot of pre-construction.

Before buying, also review the most common mistakes when buying in the Riviera Maya.

Frequently asked questions

How long does it take to recover the investment?

With a net rental ROI of 8-10%, the payback period is around 10-12 years from rental income alone. If you add appreciation, the total return can come sooner, although it is not guaranteed.

Do I need to be in Mexico to manage the rental?

No. Professional local managers handle everything: check-in, cleaning, maintenance and monthly reports. They usually charge 15% to 25% of gross income.

How much does hurricane season matter?

Mainly for occupancy during those months. In a conservative projection, calculate on about 10 months of full activity a year instead of 12.

Is the ROI the same for a studio as for a penthouse?

No. Studios and 1-bedroom apartments usually have the best percentage ROI. Penthouses charge higher rates, but they also have more expenses and lower relative occupancy.

The Riviera Maya is one of the best vacation rental markets in Latin America, but a real return requires a well-located property, professional management and calibrated expectations. If you want to review the numbers for a specific property, contact us.

You may also be interested in: Cap Rates by Neighborhood: Rental Yield Map for Playa del Carmen, Tulum, and Cancún and Real ROI of Tulum Properties by Zone: 2026 Data.