Medellin is my favorite city in the world and moving here to live 15 years ago was the best decision I ever made. In the years since an ever-increasing number of people have realized what an amazing place this is and rental prices have risen sharply.
If you search online for a furnished apartment in Poblado the first options you will find are going to be at double the growing rate. In this article, I will explain the accommodation options available, the key differences and give advice on how you can pay a fair local rate for your apartment.
Understanding the ‘Gringo Price’
The reality is that many foreigners who move to Medellin will probably end up paying more than Colombians when they first arrive. There are many reasons why that may be the case, some avoidable and some you will just have to live with.
Firstly, to rent an unfurnished apartment from an agency you will need a lot of paperwork you probably don’t have as well as local guarantors and references. A possible solution to this can sometimes be to pay a lot of extra money upfront and potentially a higher rent.
That can immediately take one good rental option off the table. You also are unlikely to have all of the furniture and appliances you will need when you first arrive which pushes you towards furnished options, which can be more expensive.
Paying a ‘gringo price’ can be a result of unintended bureaucratic processes or it can be a result of prejudice or unscrupulous companies massively overcharging. I am here to give the good news that you don’t have to pay the exorbitant prices listed on English-language websites aimed at foreigners.
Come to the city first, find the best area for you and then review the options. Book an Airbnb but only for a couple of weeks while you find the right place at the right price avoiding the gringo tax on rent.
How Much is an Apartment in Medellin
The cost of rent in Medellin varies between the different regions of the city but also within areas and neighborhoods.
The most expensive rental properties are modern high-rise apartments with good amenities, 24-hour security, parking and impressive views in El Poblado. There are also some houses within gated communities that can be expensive but these are quite rare.
Age of the apartment is an important determining factor alongside the area and accessibility. An older building with a pool and a gym will generally have lower rental prices than a modern apartment with no amenities.
Renting a house or an apartment without security is generally much cheaper and you will find multiple-story houses that have been converted into apartments.
Below is an overview of the average cost of renting per square meter in Medellin’s most expensive neighborhoods. As you will see, many are in Poblado and Laureles features but there are other centrally located areas with higher rent.
| Neighborhood | Sector | Average cost per M² (COP) |
| El Poblado | El Poblado | $68,986 |
| Lalinde | El Poblado | $60,349 |
| El Castillo | El Poblado | $57,123 |
| Los Naranjos | El Poblado | $55,138 |
| Asomadera No.1 | Buenos Aires | $53,870 |
| Villa Carlota | El Poblado | $53,860 |
| Asomadera No.2 | Buenos Aires | $53,654 |
| La Aguacatala | El Poblado | $53,445 |
| Belén | Belén | $52,276 |
| Santa Fé | Guayabal | $51,092 |
| El Diamante No.2 | El Poblado | $50,959 |
| Altos del Poblado | El Poblado | $50,855 |
| Perpetuo Socorro | La Candelaria | $49,775 |
| El Nogal-Los Almendros | Belén | $49,711 |
| Manila | El Poblado | $49,529 |
| Castropol | El Poblado | $49,436 |
| San Diego | La Candelaria | $49,320 |
| Laureles | Laureles | $49,315 |
| La Florida | El Poblado | $49,098 |
Source – Properati: Data on apartments for rent available between January and April 2023. Apartments with 2 and 3 bedrooms.
How to Find an Apartment in Medellin
1) Rent an unfurnished apartment from an agency
The cheapest and most common way to rent an apartment in Colombia is through a lettings agency. This is the preferred approach for many property owners as it gives them additional legal protections and makes each step of the process more formal.
There are a number of factors which make this approach challenging or even impossible for new arrivals in the city or even for people who have been living here less than a year.
The process will usually require you to have a “fiador” (guarantor) who earns at least double the total cost of the rent, sometimes significantly more than that. They will have to prove their earnings and sign documentation that they will take all legal responsibility if you stop paying rent. As you can imagine, finding someone earning a salary in Colombia to put themselves on the line for you isn’t easy, particularly when they will likely have to be earning many times the minimum wage.
If you can’t find a guarantor who meets all of the requirements sometimes it is possible to negotiate a deposit and payment in advance. This amount will usually be decided by a third party dependent on your credit history in the country. They will determine that you should pay a set multiple of the monthly rent in advance to provide security to the owner.
This process will also require bank statements, a Colombian cedula (national ID), references from employers and other documents. The owner may also decide that they would prefer not to rent to a foreigner as they feel they may not honor the contract or they could have prejudice based upon the party reputation some visitors have.
I have successfully rented following this approach and with the contract it gave me security and protection. The price of rent rose significantly in my neighborhood but I was able to keep the decent price I had negotiated until the end of the contract.
On the other hand, when my work situation changed I found it impossible to rent through an agency without paying a huge amount up front. The owner agreed to a deposit with me directly but the agency refused to compromise and insisted they had to follow their policies.
This can be a good way to get a fair price on an unfurnished apartment with a long-term rent but if you don’t meet the strict requirements it can be impossible or can involve significant additional costs.
2) Find a furnished apartment in a Facebook group
This is a great option if you are looking for value and flexibility but it also has its potential pitfalls.
There are groups on Facebook where individuals and sometimes companies will post small furnished apartments available to rent. The terms can vary and will need to be discussed but I have seen instances where it will include a deposit and a fixed contract for an agreed period of time as well as rolling monthly agreements.
Sometimes services and internet are included in the total monthly price and sometimes these are for the tenant to pay separately according to usage. These are things that need to be agreed.
This can be a great option and at times prices are competitive when compared to the agency options particularly when you consider they are fully furnished and ready to go.
That said, you have fewer protections and these can be scams. I have seen many instances when posts on Facebook are fake and when a deposit is paid the announcement is removed and the number is blocked.
I would strongly recommend visiting the apartment in advance, ensuring there is a written agreement in place and remember that if the price seems too good to be true, then it probably is.
3) Rent a furnished apartment from an agency
If you require a furnished apartment, are interested in flexible terms but also want the protection of renting through an official agency then this is also possible.
There are many companies that rent furnished apartments online to foreigners and will request a deposit but are more accommodating if you don’t have local references or guarantors. This is a good way to find a nicely furnished apartment in your preferred location but you are very likely to be paying considerably above market rate.
Most will have English speaking staff and you shouldn’t have any issues with scams but you will pay extra for a service that comes free of headaches.
4) Contact and negotiate rent directly from the owner
This option obviously requires a fair amount of luck and trust but it remains possible to contact someone with an apartment directly and just rent it from them.
One way to do this is to find a neighborhood or area of the city that you like and walk around. You will find signs in the window that say “Arrienda” with a phone number. Sometimes these are put up by an agency or sometimes from the owner.
It is also possible to speak to the security guard at the entrance to an apartment building you like. If you have some Spanish you can ask if any of the apartments are available to rent and if one is then there is a good chance they will give you the number of the owner to enquire.
This approach is less common than it once was and once you find a place that you like with an owner happy to rent it to you then there are still decisions to be made regarding documents and possible deposits.
You can also rent directly from a friend of a friend but, again, it is still important to have a contract and a clear agreement in place.
5) Rent a furnished room in a shared apartment
One easy and affordable option is to just rent a room within a shared house or apartment. This can be an informal agreement set up on a Facebook group, through a mutual friend, on a website or through a more official process.
Comparto Apto is a website where you can find rooms available for rent. You can search by area or budget then arrange terms with the owner. This gives you flexibility, you will have a fully furnished kitchen, shared living space and bedroom. Bills and expenses are also likely to be included in a single fixed price.
This is obviously the cheapest way to find accommodation and it is possible to rent decent places in good areas for less than US$200 per month.
You will have to share and you will very quickly realize if that will work for you or not.
There are also more luxury shared apartments including penthouses which can be rented often for more than a good independent option in Poblado. To be honest, I have no idea why you would do this but they exist and are seemingly fairly popular.
Living with five or six strangers, paying collectively five times the rent, sharing a space and having to either live with strict rules or in chaos isn’t my idea of fun.
That said, if you have your own space, you don’t share with too many others and the price is affordable then it can be a good option.
What to Expect From Apartment Rentals in Medellin
Type of Apartments
In Medellin, you will find a fair range of apartments that you can rent.
In Poblado, Laureles and the newer Northern end of Envigado there are a lot of top apartment blocks with 24 hour security, maintained gardens and amenities such as pools and gyms. These apartments are often the most expensive as the annual service charge is reflected in the rental cost and these are the most sought after for those who can afford them.
The security guard will register visitors, receive packages and deliveries as well as ensure only those with permission from residents can enter.
There are some other apartment blocks which are generally smaller that don’t have 24-hour security. In the more expensive areas, these are actually quite rare but it is possible that you will have a key to unlock the entrance to the building and then another to enter your apartment. These will usually have a way of communicating with visitors arriving and buzzing them up.
These almost certainly won’t have pools and additional amenities as they don’t have regular maintenance staff throughout the week to ensure the upkeep.
Finally, there are converted 2 to 5-story typical Colombian residential houses which are sometimes rented out. These can be divided into separate apartments or be a larger unified space. Some have pools and gardens but this is very rare.
Amenities
Many apartment buildings have pools and a good number have some type of gym. There are often also basketball or mini football courts, communal areas that can be reserved for small events and children’s playgrounds.
It is also possible to find squash courts, cinema rooms, games rooms and other dedicated spaces.
These are obviously selling points for certain buildings with the amenities and staff paid for through additional annual service charges for the owner. Buildings with great amenities will often be slightly more expensive but if you make good use of them it could prove a good investment.
Utility Bills
When renting an apartment it is important to check with the owner what is included.
Sometimes water, gas, electricity, internet and TV is included which means the agreed rental cost is your total monthly expense. Sometimes none and sometimes certain parts.
The cost of water, gas and electricity varies depending on which area of the city you live in. In the most expensive areas, there is an additional charge while in poorer neighborhoods there is a subsidy.
For reference, I live in Laureles in a decent sized one bedroom apartment where I pay around 90,000 COP (US$22) for fast internet and around 220,000 COP (US$53) for water, gas and electricity per month.
Rental Process
As outlined above, this can vary widely depending if you are dealing directly with the owner or through an agency.
An agency offers improved security and protections but you will need a lot of paperwork, potentially a bigger deposit and you will need a fiador who can demonstrate a high salary and take legal responsibility if you don’t pay.
Security Deposit
There is usually a deposit but again this depends on your situation if it is through an agency and the preference of the owner if it is direct.
I have rented an apartment without paying any deposit and I have also been told that the agency wants a large amount upfront based upon the assessment by the agency’s third-party adjudicator.
Every case is different but be prepared with an additional month’s rent available in advance as this may be required.
Contract
Rental contracts are important and provide assurances for both parties. Your contract will have a start and end date at which point the rental can end or be renewed.
A large contract can be a serious commitment and you will have to check the terms of terminating early, such as loss of deposit. That said, rental prices are rising constantly in the more sought-after areas of the city.
A long contract can save you a huge amount of money and prevent the landlord putting up the rent in line with other available options in the area.
Airbnb
Airbnb can be a really good option for short-term rentals. It may be possible to reach an agreement if you stay for longer but you of course expect to pay a premium when paying per night.
When you arrive in Medellin, renting an Airbnb for the first 2 weeks can be a great idea. It will give you a feel for living independently, going to the supermarket and cooking while you will also have time to investigate and visit more permanent properties.
As mentioned above, Facebook can be a great place to find fairly priced apartments but you definitely need to visit them and thoroughly discuss with the owner to avoid scams. That is only really possible when you are here on the ground.
My Tips
1) Get to know the area and be open-minded
Take the time to find out what is best for you. Most people will do a google search and then focus solely on Poblado or Laureles. These can be good options but demand and rent is much higher than elsewhere.
Visit other safe areas such as Floresta, Belen, Envigado and Sabaneta to get a feel for the area. Get some food, check out the amenities and transport. If you like it and it is a safe area then you could end up cutting your rental costs in half.
Another interesting read: Where to Stay in Medellin (4 Safe & Fun Areas)
2) Never pay until you have visited the apartment and have a contract
As mentioned above, don’t part with any money until you have visited the apartment, met the owner, said hi to the security guard, seen a contract and agreed terms. There are quite a few fake posts online offering amazing deals which are too good to be true.
An unscrupulous individual will reply to your inquiry insisting you can get this luxury penthouse well within your budget but you need to pay in the next few hours. Be smart and take your time.
3) Carefully consider the terms of your contract
If you are sure you like the apartment and are confident you won’t be leaving anytime soon then get a longer contract. At the moment prices are rising extremely rapidly in the most popular areas and while there is no guarantee that trend will continue, it is also very unlikely they will be going down any time soon.
As your friends are all priced out of the area due to rising costs, you could be sitting comfortably paying half what new arrivals are having to stump up.
That said, if you are unsure then don’t commit to something too long or you will face penalties for terminating the agreement early. Hopefully, your landlord will be supportive and allow you to renew at the same rate.
4) Follow the rules of the building or face being kicked out
If you are living in one of the apartment buildings with security guards and extensive amenities then there will also be a board responsible for managing the property. If they receive complaints about noise or poor behavior by tenants they can very quickly force someone to leave.
Every building is very different and it of course also comes down to your neighbors. I have lived in apartments where I have received official complaints because my TV was too loud and others where everyone seemed pretty relaxed about residents all night parties.
It is just something to be aware of, careful management of the property is great but if you break the rules then repercussions can be swiftly imposed.
Conclusion
Medellin is an amazing place to live and savings or earnings in foreign currency will usually ensure expats and visitors can enjoy an excellent quality of life here.
With that said, the cost of apartments has risen sharply in the most sought-after areas like Poblado or Laureles and it is important to think carefully about your options. The way you rent the apartment, the area and the type of apartment can double your monthly housing expenditure if you get it wrong.
Take your time, visit different areas of the city and assess your options. If you get it right then the apartment you choose could be your home for years to come.