Neighborhood Comparison: Price vs. Yield in Montevideo — July 2026
INGAR · · Analysis
How do price and yield relate across neighborhoods?
With a citywide median of USD 2,121/m² and a gross yield of 6.5%, Montevideo's real estate market splits into four quadrants depending on whether each neighborhood sits above or below those two thresholds. In July 2026, it shows a clear segmentation among neighborhoods based on their positioning at the intersection of two key variables: price per square meter and annualized gross yield.
The city's median stands at USD 2,121/m² and a gross yield of 6.5%. This point defines four quadrants that each tell a different story about where real value lies right now:
- Quadrant 1 (High price + High yield): Only 2 neighborhoods achieve this rare combination — areas that justify elevated prices with exceptional returns.
- Quadrant 2 (High price + Low yield): The most populated segment of the map. This is where the traditional premium areas are — you buy expensive but the rent doesn't match the initial investment.
- Quadrant 3 (Low price + High yield): The belt of greatest opportunity. Accessible prices combined with yields that hover around or exceed 8%-10% in the best cases.
- Quadrant 4 (Low price + Low yield): Only 2 neighborhoods fall here — a gray zone where neither price nor yield works in your favor.
Which neighborhoods combine high price and high yield?
With USD 2,753/m² and a gross yield of 6.5%, Tres Cruces is —together with La Comercial (USD 2,121/m² and 6.8%)— one of only two neighborhoods that combine a price at or above the median with a yield that matches or exceeds the city's minimum return threshold.
| Neighborhood | USD/m² | Gross Yield | Net Yield | Price-to-Rent | Monthly Rent | Months of Stock | Supply |
|---|---|---|---|---|---|---|---|
| Tres Cruces | USD 2,753/m² | 6.5% | 4.9% | 15 | USD 717 | 3.1 | High |
| La Comercial | USD 2,121/m² | 6.8% | 5.1% | 15 | USD 662 | 2.2 | Medium |
This quadrant is the exception that proves the rule. Only Tres Cruces and La Comercial manage to combine above-median prices with yields that match or exceed the city's minimum return threshold.
Tres Cruces stands out with USD 2,753/m² and a yield of 6.5% — a neighborhood in transition with resilient rental demand. The price-to-rent ratio of 15 months is balanced: you pay more, but the rent justifies it in a reasonable timeframe. Current supply is high, suggesting liquidity in the sales process.
La Comercial sits exactly at the median price (USD 2,121/m²) but pushes the yield up to 6.8%, with a monthly rent of USD 662. The 15-month ratio is comparable to Tres Cruces. With 2.2 months of stock, sale times are fast. For an investor seeking a balance between price and rent without venturing into premium areas or the periphery, this neighborhood offers a solid alternative.
These 2 exceptions share something in common: they are areas of active densification with young and professional rental demand, which sustains rents regardless of the purchase price.
Where are the low-price, high-yield opportunities?
With USD 915/m² and a gross yield of 11.8%, Piedras Blancas leads this quadrant, where neighborhoods offer yields from 6.8% to 11.8% on prices ranging from USD 915 to USD 2,098 per square meter.
| Neighborhood | USD/m² | Gross Yield | Net Yield | Price-to-Rent | Monthly Rent | Months of Stock | Supply |
|---|---|---|---|---|---|---|---|
| Ciudad Vieja | USD 2,092/m² | 6.9% | 5.2% | 15 | USD 674 | 2.7 | Medium |
| Reducto | USD 1,854/m² | 7.1% | 5.3% | 14 | USD 652 | 1.8 | Medium |
| Brazo Oriental | USD 2,098/m² | 6.9% | 5.2% | 15 | USD 659 | 2.8 | Medium |
| Goes | USD 2,078/m² | 6.9% | 5.2% | 14 | USD 589 | 2.7 | Low |
| Unión | USD 1,882/m² | 7.0% | 5.3% | 14 | USD 581 | 2.2 | High |
| Malvín Norte | USD 1,205/m² | 9.0% | 6.7% | 11 | USD 524 | 1.9 | Medium |
| Atahualpa | USD 1,733/m² | 8.3% | 6.2% | 12 | USD 602 | 1.8 | Medium |
| Sayago | USD 1,774/m² | 6.8% | 5.1% | 15 | USD 478 | 1.5 | Low |
| Peñarol | USD 1,107/m² | 8.7% | 6.5% | 12 | USD 423 | 3.0 | Low |
| Maroñas | USD 1,224/m² | 8.8% | 6.6% | 11 | USD 429 | 2.2 | Low |
| Flor de Maroñas | USD 1,283/m² | 8.4% | 6.3% | 12 | USD 496 | 2.7 | Low |
| Cerrito | USD 1,215/m² | 8.9% | 6.7% | 11 | USD 481 | 1.7 | Low |
| Aires Puros | USD 1,406/m² | 10.2% | 7.7% | 10 | USD 533 | 1.3 | Low |
| Paso Molino | USD 1,773/m² | 6.8% | 5.1% | 15 | USD 689 | 3.8 | Low |
| La Figurita | USD 1,880/m² | 9.6% | 7.2% | 10 | USD 649 | 1.9 | Low |
| Villa Española | USD 1,807/m² | 6.6% | 5.0% | 15 | USD 523 | 2.0 | Medium |
| Villa Dolores | USD 2,031/m² | 7.1% | 5.3% | 14 | USD 688 | 2.2 | Low |
| La Teja | USD 1,276/m² | 7.5% | 5.6% | 13 | USD 454 | 2.6 | Low |
| Belvedere | USD 1,026/m² | 11.7% | 8.8% | 9 | USD 475 | 2.4 | Low |
| Colón | USD 985/m² | 11.0% | 8.2% | 9 | USD 431 | 2.3 | Medium |
| Paso de la Arena | USD 1,023/m² | 8.2% | 6.2% | 12 | USD 457 | N/A | Low |
| Cerro | USD 929/m² | 11.6% | 8.7% | 9 | USD 435 | 2.6 | Low |
| Nuevo París | USD 920/m² | 9.1% | 6.8% | 11 | USD 435 | 2.4 | Low |
| Piedras Blancas | USD 915/m² | 11.8% | 8.8% | 8 | USD 375 | 2.0 | Low |
| Lezica | USD 1,258/m² | 9.5% | 7.2% | 10 | USD 502 | 4.5 | Low |
| Jardines del Hipódromo | USD 1,176/m² | 9.2% | 6.9% | 11 | USD 375 | N/A | Medium |
This is the quadrant where money works hardest. These are the neighborhoods offering yields from 6.8% to 11.8% on prices ranging from USD 915 to USD 2,098 per square meter.
Upper range: close to the median with a high yield
In the upper range (close to the price median but with a higher yield), Ciudad Vieja, Reducto, Brazo Oriental, and Villa Dolores stand out. All hover around USD 1,854–2,092/m² with yields between 6.9% and 7.1%. These are areas with sustained rental demand and competitive sale times (1.8 to 2.7 months of stock). Ciudad Vieja, in particular, combines an accessible price, a monthly rent of USD 674, and agile market activity.
Mid and lower ranges: the highest yields
In the mid and lower ranges, yields surge: Malvín Norte (9.0% at USD 1,205/m²), Atahualpa (8.3% at USD 1,733/m²), Peñarol (8.7% at USD 1,107/m²), La Figurita (9.6% at USD 1,880/m²), Lezica (9.5% at USD 1,258/m²).
The absolute records belong to Belvedere (11.7% gross, USD 1,026/m²), Piedras Blancas (11.8%, USD 915/m²), and Cerro (11.6%, USD 929/m²). These neighborhoods offer a price-to-rent ratio of just 8–9 months — you recoup your initial investment quickly. But beware: low current supply in most of these neighborhoods indicates lower exit liquidity.
Why does this quadrant make sense?
The most important advantage of this quadrant is that you're not betting on land appreciation. Your gain comes from monthly cash flow from day one. Ideal for investors who need immediate income, not for speculators.
Which neighborhoods have high price and low yield?
With USD 3,553/m² and a gross yield of 5.4%, Pocitos is representative of this quadrant, the most populated on the map: nearly all of Montevideo's traditional premium areas justify their price by location rather than by yield.
| Neighborhood | USD/m² | Gross Yield | Net Yield | Price-to-Rent | Monthly Rent | Months of Stock | Supply |
|---|---|---|---|---|---|---|---|
| Punta Gorda | USD 3,141/m² | 6.1% | 4.6% | 16 | USD 1,776 | 3.6 | Medium |
| Pocitos | USD 3,553/m² | 5.4% | 4.0% | 19 | USD 900 | 2.8 | High |
| Pocitos Nuevo | USD 3,814/m² | 5.0% | 3.8% | 20 | USD 825 | 3.0 | High |
| Punta Carretas | USD 3,823/m² | 5.3% | 4.0% | 19 | USD 1,107 | 3.1 | High |
| Buceo | USD 3,244/m² | 5.5% | 4.2% | 18 | USD 757 | 3.9 | High |
| Malvín | USD 3,401/m² | 5.3% | 4.0% | 19 | USD 836 | 2.7 | High |
| Puerto Buceo | USD 3,975/m² | 5.4% | 4.1% | 18 | USD 1,604 | 3.4 | Medium |
| Villa Biarritz | USD 3,969/m² | 5.1% | 3.9% | 19 | USD 1,187 | 3.6 | Medium |
| Parque Rodó | USD 3,652/m² | 4.6% | 3.5% | 22 | USD 772 | 3.5 | High |
| Centro | USD 2,678/m² | 5.8% | 4.4% | 17 | USD 674 | 2.7 | High |
| Cordón | USD 2,856/m² | 5.9% | 4.4% | 17 | USD 714 | 3.1 | High |
| Palermo | USD 3,190/m² | 5.3% | 4.0% | 19 | USD 719 | 2.9 | High |
| Barrio Sur | USD 2,838/m² | 5.5% | 4.1% | 18 | USD 900 | 2.6 | High |
| La Blanqueada | USD 3,005/m² | 6.0% | 4.5% | 17 | USD 718 | 3.5 | High |
| Parque Batlle | USD 3,025/m² | 5.5% | 4.2% | 18 | USD 754 | 2.9 | High |
| Aguada | USD 2,520/m² | 5.7% | 4.3% | 18 | USD 655 | 2.3 | High |
| Prado | USD 2,737/m² | 5.3% | 4.0% | 19 | USD 663 | 2.7 | High |
| Jacinto Vera | USD 2,534/m² | 5.2% | 3.9% | 19 | USD 652 | 3.3 | Medium |
| Capurro | USD 2,546/m² | 4.7% | 3.5% | 21 | USD 559 | 4.4 | Medium |
| Bella Vista | USD 2,611/m² | 5.5% | 4.1% | 18 | USD 648 | 2.2 | Medium |
| Carrasco | USD 3,876/m² | 5.6% | 4.2% | 18 | USD 2,118 | 3.6 | High |
| Carrasco Norte | USD 3,837/m² | 5.9% | 4.5% | 17 | USD 2,312 | 2.6 | Medium |
| Golf | USD 4,081/m² | 5.6% | 4.2% | 18 | USD 3,824 | 2.7 | Medium |
| Larrañaga | USD 2,149/m² | 6.1% | 4.6% | 16 | USD 857 | 2.3 | Low |
| Mercado Modelo | USD 2,757/m² | 5.2% | 3.9% | 19 | USD 614 | 1.9 | High |
| Capurro - Bella Vista | USD 2,453/m² | 5.4% | 4.0% | 19 | USD 647 | 1.9 | Medium |
This is the quadrant of premium for location, not for yield. Nearly all of Montevideo's traditional areas are here — they justify their price on territorial brand, not on cash flow.
The market extremes are clear: Golf (USD 4,081/m², 5.6% yield), Pocitos Nuevo (USD 3,814/m², 5.0%), Punta Carretas (USD 3,823/m², 5.3%), Puerto Buceo (USD 3,975/m², 5.4%), and Villa Biarritz (USD 3,969/m², 5.1%). These are aspirational neighborhoods sold on views, status, and value reversion — not on immediate returns.
The middle band is equally instructive: Pocitos (USD 3,553/m², 5.4%), Carrasco (USD 3,876/m², 5.6%), Malvín (USD 3,401/m², 5.3%), and Parque Rodó (USD 3,652/m², 4.6% — the lowest yield in the entire city for this price level). The price-to-rent rises to 19–22 months: you'll spend nearly 2 years collecting rent just to recover what you paid upfront.
Cordón, Centro, and La Blanqueada are more accessible (USD 2,678–3,005/m²) with yields of 5.8%–6.0%. These offer a better price-to-rent relationship for those seeking an established area without going to extreme prices.
The question for this quadrant is: are you buying to live in it, or for future capital gains? If it's for rental income, you're better off looking in Quadrant 3. If it's for appreciation, these neighborhoods have persistent demand — but the timing is uncertain.
Which neighborhoods have low price and low yield?
With USD 1,926/m² and a gross yield of 6.2%, Villa Muñoz — along with Ituzaingó (USD 1,706/m² and 6.3%) — is one of only two neighborhoods in this quadrant: moderate prices but yields below what their similarly priced competitors offer.
| Neighborhood | USD/m² | Gross Yield | Net Yield | Price-to-Rent | Monthly Rent | Months of Stock | Supply |
|---|---|---|---|---|---|---|---|
| Villa Muñoz | USD 1,926/m² | 6.2% | 4.7% | 16 | USD 773 | 2.1 | Medium |
| Ituzaingó | USD 1,706/m² | 6.3% | 4.8% | 16 | USD 536 | 2.5 | Low |
This quadrant is an uncomfortable transition zone. Villa Muñoz and Ituzaingó have moderate prices but yields below the return average offered by similarly priced competitors.
Villa Muñoz (USD 1,926/m², 6.2%) is slightly more expensive than Reducto or Brazo Oriental, but offers little to no yield advantage over them. Ituzaingó (USD 1,706/m², 6.3%) is cheaper but still doesn't reach the high yields of peripheral neighborhoods — areas priced at USD 1,200–1,400/m² offer 8%–10% in this same location range.
The risk here is paying for a transition without being certain the transition will materialize. These are areas that have neither the immediate yield of Quadrant 3 nor the clear appreciation potential of Quadrant 2. Only select them if you have a very specific thesis about future development in the area.
Conclusion
The July 2026 map draws clear profiles for each type of investor:
- Cash flow investor (needs income NOW): Quadrant 3. La Figurita (9.6%), Piedras Blancas (11.8%), Belvedere (11.7%), Cerro (11.6%), Atahualpa (8.3%) are monthly cash machines. The price is low, the rent is steady, and the price-to-rent is short. The downside is lower exit liquidity in some cases.
- Appreciation investor (bets on value growth): Quadrant 2. Pocitos, Carrasco, Punta Carretas, Golf are areas where the land is worth more than the rent it generates. Ideal if you have a 10+ year horizon and capital to hold without income pressure.
- Balanced investor (wants income + security): Quadrant 1 and the upper range of Quadrant 3. Tres Cruces, La Comercial, Ciudad Vieja, Reducto offer yields of 6.8%–7.1% in established areas, with predictable rental demand and agile sale times.
- Speculative investor (bets on transformation): Avoid Quadrant 4. It doesn't have enough fundamentals to take on appreciation risk without a yield safety net.
The golden rule of July 2026: in Montevideo, neighborhoods with both high price AND high yield simultaneously are almost nonexistent. You have to choose what you're looking for. If you give one up, you gain in liquidity and clarity of analysis. Explore the best neighborhoods to invest in based on your profile, or check the complete neighborhood price ranking.
Frequently asked questions
How often is this data updated?
It is recalculated every month based on the current real estate listings in Montevideo, so it reflects the state of the market for the current month.
Where do these prices come from?
From INGAR's own survey of public sale listings in the Montevideo market, not from closed transactions: these are asking prices, a gauge of what is being requested in the market today.
Want to invest with data, not intuition? See how to invest in Uruguay, appraise a property online, or message us on WhatsApp.
This data is part of the INGAR Index, the monthly Montevideo real estate market index, with a data sheet for each neighborhood and a public methodology.
Updated: July 2026. Source: INGAR analysis based on current real estate listings in Montevideo.