economy
May 3, 2026
Is Living in Medellín an Act of Resistance? Cost of Living Skyrocketed 37% in Four Years
A few weeks ago, these pages reported the news of an elderly couple who jumped from the 22nd floor of the Andalucía building, in the Boston neighborhood of Medellín, apparently cornered by debts that forced them to sell their home. The case shocked the city and fueled a growing feeling: living in these mountains, for many, has become almost an act of daily resistance.
TL;DR
- Medellín's cost of living has increased by 36.7% between 2021 and 2025, with annual inflation reaching 6.39% in March.
- The city is now more expensive to rent housing in than Bogotá and Cartagena, and its overall cost of living is estimated to be 8% higher than Bogotá.
- Factors contributing to the rising costs include increased prices for transportation, health services, utilities, food, and restaurants.
- Medellín's success as a tourist destination and the influx of digital nomads have increased demand for housing and services, particularly short-term rentals.
- The number of Airbnb properties has increased by 66% between 2020 and 2023, concentrated in areas like El Poblado.
- The "social emptying" phenomenon is occurring as locals are priced out of their neighborhoods due to international rental prices, often in dollars.
- Housing construction has declined significantly, with a 47% drop in approved licenses per capita, leading to a housing deficit.
- Experts suggest solutions such as increasing housing supply, regulating short-term rentals, implementing social rental policies, and establishing a price monitoring system.
- The mayor's office acknowledges the increased cost of living in tourist areas and is proposing to update the Territorial Planning Plan (POT) to enable more residential construction.