Mexico’s real estate markets: 14 cities and a framework for comparison
INMO1’s national guide to comparing 14 real estate markets by demand, product, infrastructure, absorption and risk, without misleading averages.
Read analysis →Puerto Vallarta is both a tourism destination and a permanent city. Demand from second-home buyers does not replace demand from households that live and work in the municipality. A responsible study separates both markets and recognizes that the airport serves the entire bay, including supply in Nayarit.
The municipality recorded 291,839 residents in 2020, 14.1% more than in 2010. It had 86,523 occupied private homes, and the housing stock grew by 2.4% annually during the decade. Product size also matters: 44.3% had two bedrooms and 34.5% had one.
291,839residents, 2020
86,523occupied homes
6.95 MPVR passengers, 2025
71.2%Jan–Apr 2026 occupancy
The airport is growing, but its mix is changing
In 2025, the airport recorded 6.95 million passengers, 2.1% more than the previous year. Domestic traffic grew 9.9%, while international traffic fell 3.5%. This divergence may change seasons, length of stay and spending, but does not allow residential sales to be inferred without studying origins, purpose and behavior.
The airport also serves Puerto Vallarta, Bahía de Banderas and other destinations. A project must analyze its submarket and actual competition, rather than claiming all of the terminal’s traffic.
Hotel occupancy and residential absorption are different data series
DataTur reported hotel occupancy of 71.2% between January and April 2026, compared with 80.7% in the same period in 2025. The decline does not establish an equivalent contraction in housing, but signals that connectivity and appeal do not prevent changes in supply, seasonality or preferences.
Vacation rental analysis must measure active properties, actual availability, net rates, expenses and regulation. For sales, inventory, net sales, cancellations and months of supply matter.
Infrastructure connects tourism and local life
The municipal plan projects a drinking-water deficit of 39.1 liters per second by 2030 if urban and tourism trends continue. This is a planning scenario, not a current operational snapshot. It also documents residents’ perceptions of leaks and transportation, which help identify issues requiring physical measurement.
Water, mobility and services constrain density, costs and operations. Proximity to the sea or a tourism corridor does not compensate for an incomplete feasibility analysis.
| Scale | Must be distinguished | Decision |
|---|---|---|
| Bay | Jalisco and Nayarit | Competitive set |
| Municipality | Tourism and households | Segment and product |
| Corridor | Hotels, rentals and residences | Pricing and operations |
| Parcel | Potential and capacity | Density and feasibility |
Puerto Vallarta cannot be assessed solely as a destination: local housing, services and competition across the entire bay form part of the real estate product.
From territorial signals to an investment decision
For a specific asset, INMO1 defines the submarket, surveys competitors, standardizes product and price comparisons, verifies inventory and estimates absorption using a consistent definition. It then connects these findings to product, phasing, capital and sensitivity. This work helps distinguish a favorable trend from a defensible opportunity in Puerto Vallarta.
Compare this market with the guide to Mexico’s real estate markets. Learn more about the scope of a real estate market study, real estate feasibility and supply, demand and absorption analysis.
Are you assessing land, a development or inventory in Puerto Vallarta? Request a diagnostic consultation with INMO1.
Sources, scope and reporting cutoff
Editorial cutoff date: September 18, 2026. Figures retain the geography, unit and period of their source. Demographic, tourism or economic context does not by itself establish demand, sales, absorption or real estate returns.
- GAP — Airport Traffic, December 2025. Domestic and international passengers at PVR Airport.
- DataTur — Hotel Occupancy, January–April 2026. Comparable hotel occupancy for the destination.
- INEGI — Sociodemographic Overview of Jalisco 2020. Municipal population and housing stock.
- Municipal Development and Governance Plan 2024–2027. Housing, infrastructure, water and public consultation.
