Want to Retire in Mexico? Compare Costs of Living Using Interactive Web Site

A recent report by International Living magazine named Mexico as the 2007 top global retirement destination. (click here to read more) One of the factors used in analyzing 29 countries for top honors is the cost of living in that country. If you consider the value of the peso compared to the U.S. dollar, what would it really cost you to shop for similar items in both countries? Another related question is how do wages compare between the U.S. and Mexico?

The United Electrical, Radio & Machine Workers of America (UE) created an interactive web site to explore wages and cost of living comparisons between the U.S. and Mexico. The site compares wages for similar jobs in the U.S. and Mexico like bank teller, teacher, store clerk and others.

The cost of living prices used in the UE International Solidarity site comparisons are 2004/2005 currencies, but it is an interesting activity to complete if you are considering migrating to Mexico for retirement or employment. You can compare how long it would take to work for certain items in both countries. Here are some samples of what the UE found:

Comparing Cost of Living for Food in U.S. and Mexico (all prices are U.S. dollars)

Half gallon of milk: U.S. = $1.61, Mexico = $1.35
One pound of butter: U.S. = $3.39, Mexico = $1.79
Package of Tortillas: U.S. = $1.79, Mexico = $.59
6-pack of Corona: U.S. = $12.00, Mexico = $4.30
One pound of cheddar cheese: U.S. = $4.99, Mexico = $2.24
One pound of baking potatoes: U.S. = $.99, Mexico = $.47
One bottle of cooking oil: U.S. = $3.49, Mexico = $1.48
One head of lettuce: U.S. = $1.49, Mexico = $.44
One pound of apples: U.S. = $1.05, Mexico = $.81
One pound of bananas: U.S. = $.50, Mexico = $.28
Whole chicken per pound: U.S. = $.99, Mexico = $.81
Can of tuna: U.S. = $1.69, Mexico = $.56
Dozen eggs: U.S. = $1.06, Mexico = $1.08
Nescafe coffee, 7 ounces: U.S. = $6.95, Mexico = $3.41

How Long Would You Have to Work to Buy These Food Items?

On average a teacher in the U.S. makes $27.01 per hour, in Mexico $6.75 an hour.
A teacher in the U.S. would work 1 hour 33 minutes to buy these food items.
A teacher in Mexico would work 2 hours 55 minutes to buy these food items.