2017 Update: Medellín Furnished Apartments Rental Costs

Medellin Furnished Apartments

To more accurately answer the question about what the current Medellín furnished apartments rental costs are, with the help of my Colombian wife, we recently surveyed the rental costs of 350 available furnished apartments in several neighborhoods in Medellín.

We only looked in the five most popular neighborhoods for expats living in Medellín: El Poblado, Envigado, Laureles-Estadio, Sabaneta and Belén.

We also only included apartments that have hot water and Wifi available. Several hundred apartments in Medellín are listed on the Airbnb site. And we did not include apartments on the Airbnb site in our survey if they did not have positive ratings, as they are riskier to rent.

Without a surprise, most of the furnished apartments we found in Medellín are located in El Poblado – 70 percent of the furnished apartments we surveyed this year were found in El Poblado.

There are three main websites to find furnished apartment rentals in Medellín

  • Airbnb – has several hundred furnished apartments in Medellín listed, but many of these have no ratings.
  • Casacol – has >100 furnished apartments in Medellín listed.
  • Apartment International – has many apartments listed.

Some furnished apartments are listed on one of the rental company websites as well as the Airbnb site. If an apartment is listed on more than one website we only included it once in our survey.

We also looked for furnished apartments on some Spanish language websites that cater to Colombians for our survey. However, be careful of apartments on Spanish language sites, some have not that many furnishings, some do not have hot water and some do not have Wifi.

Most furnished apartment rentals in Medellín are priced in U.S. dollars. For apartment rentals priced in pesos we used the exchange rate of 2,903 pesos to the U.S. dollar.

Some Initial Survey Findings

Pricing for some furnished apartments in Medellín increases during the popular times of the year such as Christmas, New Years and Feria de las Flores (the Medellín flower festival). We used the low season rental prices in our survey.

Most Medellín furnished apartments rentals we surveyed in the city have a minimum rental period of 1-3 days. But some Medellín furnished apartments we looked at have a minimum rental period of 30 days (less than 10 percent of the apartments surveyed).

For apartments with both daily and monthly rates, the longer-term monthly rate usually reflects a discount to the daily rate. Over 80 percent of surveyed apartments offer a discount for monthly rates compared to daily rates.  The discounts for the monthly rate ranged from 3.3 up to 60 percent compared to the daily rate.

Most furnished apartment rentals in Medellín require a security deposit; 70 percent of the apartments we surveyed required a security deposit. The security deposit charges ranged from $98 to $1,030 and averaged $236.

Many furnished apartment rentals also require a cleaning fee; 78 percent of the apartments we surveyed had a cleaning fee listed. The cleaning fee ranged from $6 to $129 and averaged $26.

We didn’t include security deposits or cleaning fees in our below rental cost survey results.

El Poblado Furnished Apartments

El Poblado is the most popular neighborhood for foreigners living in or visiting Medellín. It is the most upscale neighborhood in the city and is where the most hotels and furnished apartments catering to foreigners are located.

In my first few visits to Medellín in 2007 to 2009, I rented furnished apartments in El Poblado.

El Poblado is primarily an Estrato 6 neighborhood with 74 percent of the households rated at Estrato 6. It is also where the most expensive real estate and most expensive apartment rentals in the city are located.

El Poblado survey of 246 furnished apartment rentals results:

  • 132 apartments were 1-bedroom or studios with rents ranging from $29 to $132 per day. The monthly rates ranged from $871 to $3,770 per month.
  • 56 apartments were 2-bedroom apartments with rents ranging from $36 to $252 per day. The monthly rates ranged from $851 to $5,700 per month.
  • 38 apartments were 3-bedroom apartments with rents ranging from $47 to $278 per day. The monthly rates ranged from $980 to $6,670 per month.
  • 20 apartments were 4-bedroom to 8-bedroom apartments with rents ranging from $195 to $839 per day. The monthly rates ranged from $1,627 to $21,000 per month.
Average Furnished Apartment Rental Costs in El Poblado

Average Furnished Apartment Rental Costs in El Poblado

Laureles-Estadio Furnished Apartments

Laureles-Estadio is likely the second most popular neighborhood for foreigners visiting Medellín. It is primarily a residential neighborhood with many areas with tree-lined streets and fewer high-rise apartments than are found in El Poblado.

Laureles-Estadio is primarily an Estrato 4/5 neighborhood with 99 percent of the households rated at Estrato 4 or 5.

Laureles-Estadio survey of 46 furnished apartment rentals results:

  • 32 apartments were 1-bedroom or studios with rents ranging from $14 to $61 per day. The monthly rates ranged from $337 to $1,800 per month.
  • Seven apartments were 2-bedroom apartments with rents ranging from $34 to $63 per day. The monthly rates ranged from $750 to $1,349 per month.
  • Seven apartments were 3-bedroom apartments with rents ranging from $44 to $91 per day. The monthly rates ranged from $947 to $1,191 per month.
Average Furnished Apartment Rental Costs in Laureles-Estadio

Average Furnished Apartment Rental Costs in Laureles-Estadio

Furnished Apartment Costs in Other Neighborhoods

Our survey also found furnished apartments in Envigado, Sabaneta and Belén with a summary of these results as follows:

Envigado is another popular neighborhood for foreigners visting and living in Medellín. It is less commercial than El Poblado and like Laureles-Estadio has many areas with tree-lined streets and fewer high-rise apartments than are found in El Poblado.

Envigado survey of 25 furnished apartment rentals results:

  • Four apartments were 1-bedroom or studios with rents ranging from $15 to $76 per day. The monthly rates ranged from $328 to $2,294 per month.
  • 10 apartments were 2-bedroom apartments with rents ranging from $26 to $100 per day. The monthly rates ranged from $644 to $1,979 per month
  • Eight apartments were 3-bedroom apartments with rents ranging from $35 to $89 per day. The monthly rates ranged from $627 to $2,127 per month.
  • Three apartments were 4-bedroom to 6-bedroom with daily rates of $40 and $139 and monthly rates of $1,075 and $5,675 per month.

Sabaneta is a separately administered municipality within the Medellín metro area that is rapidly becoming popular with expats.  It is located directly south of Envigado. Sabaneta is much smaller than El Poblado with a population of about  55,000.  I currently live in Sabaneta.

Sabaneta is primarily a residential community. In Sabaneta, you will find several neighborhoods similar to El Poblado with high-rise apartment buildings but they tend to be a bit more spread out. Also in Sabaneta you can find some quiet streets lined with one-story, two-story and three-story attached homes.

Sabaneta survey of 16 furnished apartment rentals results:

  • Three apartments were 1-bedroom or studios with rents ranging from $29 to $49 per day. The monthly rates ranged from $707 to $1,024 per month.
  • Seven apartments were 2-bedroom apartments with rents ranging from $35 to $43 per day. The monthly rates ranged from $529 to $1,015 per month.
  • Six apartments were 3-bedroom apartments with rents ranging from $33 to $110 per day. The monthly rates ranged from $789 to $2,838 per month

Belén is a neighborhood that is increasing in popularity for foreigners living in Medellín. Belén is where I lived for about four years in three different barrios (Fatima, Loma de Los Bernal and Los Alpes).  I rented a furnished apartment in Belén for three months as a trial of living in Medellín in 2010.

Belén is more of a working-class community with 98 percent of housing in Estrado 2 to 5 and only 2 percent in Estrato 1.

Belén survey of 17 furnished apartment rentals results:

  • Eight of the apartments were a 1-bedroom with rents ranging from $18 to $49 per day.  The monthly rates ranged from $483 to $1,176 per month.
  • Five apartments were 2-bedroom apartments with rents ranging from $24 to $55 per day. The monthly rates ranged from $691 to $1,315 per month.
  • Four apartments were 3-bedroom apartments with rents ranging from $35 to $58 per day. The monthly rates ranged from $836 to $1,391 per month.
Apartment buildings in El Poblado near Santafé mall

Apartment buildings in El Poblado near Santafé mall

The Bottom Line

There is a wide range of Medellín furnished apartments available for rent ranging from economical to luxury. El Poblado is where most of the furnished apartments in Medellín are available but El Poblado is also where the most expensive real estate in the city is found.

Medellín furnished apartments are more expensive to rent on average in El Poblado than in the other areas of Medellín. You can save on a furnished apartment rental in an area outside of El Poblado, such as Laureles-Estadio, Envigado, Sabaneta or Belén.

There are now more Medellín furnished apartments available outside of El Poblado compared to our surveys in previous years.  As a result, you now have more choices available.

To compare the costs of furnished apartment rentals with unfurnished apartments, see our report in 2016 looking at unfurnished apartment rental costs in Medellín.

To compare the results of this year’s furnished apartment rental cost survey to 2015, you can look at the December 2015 results here.

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About Jeff

Jeff first discovered Colombia back in 2006 and has traveled to all the major cities in Colombia. He is fortunate to have lived over seven years in Medellín. He is also studying Spanish to become fluent.

Comments

  1. Thanks this study is very helpful for visitors to the city. When I first moved to Medellin I rented a furnished place for two months as a trial that I found on AirBnb. I rented a furnished apartment in Laureles as the furnished rental costs in El Poblado are more expensive with all the furnished apartments from the gringo real estate firms located in El Poblado. I liked my trial of living in Laureles so I now live in Laureles full time.

    I followed recommendations on this site for finding first my furnished rental apartment and later my unfurnished rental apartment. Keep up the good work!

    You can definitely save a lot of money by renting outside of expensive El Poblado.

    • I say stay out of poblado. It is a rip off just like new York City San Francisco San jose. So many locations are better then poblado. I have been all over Colombia for 8 Years now. I will say you guys put in a ton of work for this apartment review. Great job. I had a 2 bedroom in sabaneta with 2 bathrooms for 250 a month 2 blocks from Parque sabaneta. I had apartment in manizales fully furnished plus washer with all utilities included hardwood floors for 300 a month. Close the the mall. I had apartment in pasto for 200 a month us dollars. Had apartment in covenas on the ocean for free in exchange for watching the place.

      • with all due respect, seems you are comparing apples to oranges. Covenas vs. El Poblado? or even Manizales vs. El Poblado? Come on, that’s not even close to being on the same page. Might as well compare Manhattan with Buffalo, NY.

      • Paul Kern says:

        Thank you Dan.

      • Hi! i’ve seen that you have lived all around the country,can i ask your point of view about:

        -The prices are constantly rising for what i know,isn’t true? there is a speculative bubble? (referring to medellin, bogotà)

        -Where do you see the major growing margin? Medellin, Bogotà for my point of view are cities where the property prices have already gone up, isn’t true?
        What about the more rural south areas like Pasto and surroundings or the coast like Santa Marta?
        Or Cali, Manizales, Pereira?

        Only your point of view for what you have seen and experienced.

        Thank you very much

  2. Jeff,
    thanks a lot for the article, you guys obviously put a ton of work into it. Question: I am under the impression that AirBnB is, let s say frowned upon by the Medellin authorities. Point in case: My wife’s sister lives in Balsos de Oviedo, right across from Santafe Mall; When we visited in March, there were signs in Spanish and English in the elevators stating that the building is not authorized for short term rentals and that (short term) renters would get evicted if caught in the act (and landlords be punished). Casacol, on the other hand, has hotel licenses for their buildings, so they work technically as hotels. What is you take?
    Thanks
    Harry

    • Hi Harry, yes that is likely an issue with some of the Airbnb rentals that are in buildings where short-term rentals are not technically authorized.

      Medellín has a law that restricts furnished apartment rentals of less than 30 days. Some developers like Casacol saw this as an opportunity. They built buildings specifically designed and registered for short-term rentals. Units in these buildings can legally rent by the night. Of course, owners in a building not authorized for short term rentals can go down the route of complying with the law and permitting short-term rentals in their building. That’s great in theory but not so easy in practice – as it’s difficult to get a majority of owners in a building to agree to short-term rentals.

  3. supernova72 says:

    Good stuff. FWIW I’m staying in Laureles in an ABNB for three weeks (one week in). I paid $26 a night and with taxes and cleaning it comes to $32. It’s a fairly new complex (that tall 17 story building on Circular 5). It’s just off C70.

    Maybe a bit too close to the clubs for some in regards to music/club noise until 2:30am on average. One drawback yes. My until has single pane windows which I was not expecting. First world problem I realize. Good value and very secure with 24X7 lobby support. Chao.

  4. Looking at prices for El Poblado and Envigado prices have doubled or sometimes even tripled from last year.

    • Prices haven’t doubled or tripled. See our survey results from December 2015 here: http://medellinliving.com/2015-furnished-apartment-rental-costs/. For example, in El Poblado average daily rental rates have dropped somewhat since our December 2015 survey for 1-bedroom, 2-bedroom and 3-bedroom. But average monthly rates have increased for 1-bedroom apartments, which means less discounts are provided than before for monthly rates.

      In Envigado prices have also dropped for several sizes of apartments compared to our survey in December 2015.

  5. Good work Jeff. I will soon move out of my furnished apt to a cheaper unfurnished one. It is good to know that I’m getting a fair deal on our nicely furnished apartment in Laureles – 3.5 million for a 4 bedroom plus office.

    • I’m looking for a furnished apartment in Laureles in that price range. Do you know if your place is going on the market? If not, can you give any advice about who you rented it through? I’m a Spanish speaker and happy to go through the Colombian system. Looking for a 1-year rent. Any help much appreciated! (I’ve been looking on a number of websites but haven’t seen anything very appealing yet.)

  6. Hi! $2000 for a 1 bedroom apartment in El Poblado??

    I’ve read posts in internet of 4 years ago, talking about $300-600-800$ range….the prices have risen so much in a so small amount of time?

    Do you know the equivalent buying price (more or less)?

    Thanks

    • Hi Andrea,

      If you look at the survey results there is a big range of rental prices. For a 1-bedroom furnished in El Poblado the survey results ranged from $871 to $3,770 per month for a furnished 1-bedroom with an average of $1,949. Keep in mind there is a big range of amenities from fairly basic to luxury. When we surveyed we only included apartments in estrato 4, 5 or 6 neighborhoods that also have Wifi, TV and hot water services. Also keep in mind most of the rentals in those apartments are primarily short-term for tourists so they compete with the hotels in El Poblado.

      The average rental prices per day for furnished apartments in El Poblado have actually dropped for 1-bedroom and 2-bedroom from when we did a similar survey back in 2014. See: http://medellinliving.com/furnished-apartment-rental-costs/.

      If you want to see buying prices in El Poblado I recommend looking on the https://www.espaciourbano.com/ website where many real estate firms in the city list apartments for sale (ir a ventas) or unfurnished rentals (ir a arrendamientos). Furnished rentals are typically used for short term rentals or trials for a few months before purchasing or renting unfurnished rentals for longer term. Unfurnished rentals can be substantially cheaper than furnished rentals.

  7. Jaime McBrady says:

    Hi. I’m not trying to advertise here–just hoping to better understand the market. My husband and I recently purchased an apartment in the Carlos E Restrepo neighborhood. We took care in furnishing it with lots of homey amenities since we live here part of the year. The building management does not want short-term rentals so I’m trying to figure out whether or not there’s a market for 3-4 month rentals. I dont know which types of people want that kind of timeframe. I need to learn how to advertise and who to market to. Any thoughts? I really appreciated your articles in the past and support your efforts.

  8. My bad I was comparing your graph of 2016 which was unfurnished to this year

    • Hi Bill,

      No problem. And if you compare furnished rental prices to unfurnished rental prices you can find substantial price differences. That’s why for a long-term — unfurnished rentals become cheaper even when you factor in the cost to furnish.

  9. Jeff, I’m looking for a furnished apartment in Laureles for 1 year. 3-4 bedrooms. Is there any agency you could recommend? I’ve been looking on a number of websites but haven’t seen anything very appealing yet. It’s harder than I thought it would be to find something there – much more in Poblado etc, but I don’t want to live there.

  10. Thanks this is a great article. There is no other website that provides such detailed pricing information about furnished and unfurnished rentals in Medellín. I wish this was available for other cities in Colombia. It would be helpful to be able to compare furnished and unfurnished rental prices in the different cities in Colombia.

  11. Brian Krezmien says:

    As always Jeff thank you for the stream of useful information that you provide here. As I get closer to 2019 and retiring full time to the Medellin metro area I keep updated by your news letter and always appreciate the quality content.
    Brian

  12. Andreas Wiedenfeld says:

    So, in other words, it costs more to rent an apartment in Medillin than it does in Tucson, Arizona!

  13. Greetings from Chiang Mai, Thailand. I regularly consider moving to Medellin but your rent numbers are disappointingly high. I pay $425 a month for a very nice condo not close to the cheapest here. I think I would have to pay $800 or more for a similar place in Medellin.

    There are advantages to Medellin over Chiang Mai that might make it worth it so I have to keep that in mind, too.

    Great boots on the ground info. Thank you!

  14. I visit Medellin a couple of times a year, using sites like Airbnb or booking.com. My own experience is that Colombian landlords set more reasonable rents for the facilities provided than foreign owners, who have seemed to be opportunists to me, offering small uncomfortable apartments in areas like Laureles for exorbitant rates. One American “real estate professional” broke the airbnb rules by asking for a cash deposit, instead of the credit card process, and that I sign a lease agreement which included a health and safety waver: highly unscrupulous! My Colombian owners, on the other hand, have offered spacious apartments, well furnished, in high class, safe complexes, with front desk and pool/spa facilities, and no questionable practices. Beware of some apartments in Laureles that seem to have interchangeable photos on sites like airbnb. It pays to look carefully!

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