Jesús María vs Pueblo Libre: which is the better rental investment in Lima? (2026)

The two districts sit next to each other on the map and almost on top of each other in the numbers. Jesús María nets 3.8% on long-term rentals; Pueblo Libre nets 3.9%. That's a tenth of a percentage point. Nobody should reorganize their portfolio around a gap that small, but on paper Pueblo Libre wins the long-term yield.

The price difference is the more interesting number. Jesús María's median sits at $2,017/m², Pueblo Libre's at $1,747/m². That's roughly 15% cheaper per square meter in Pueblo Libre, and you get a slightly higher long-term yield for it. Lower entry cost, marginally better return -- that combination is what tips this.

Airbnb reverses the order, but at levels too low to matter for either. Jesús María runs 0.9% gross, Pueblo Libre 0.8%. Both are far below their long-term figures, so short-term letting isn't the case for either district here. Treat these as long-term hold markets, not Airbnb plays.

My pick is Pueblo Libre: cheaper to buy in and a hair better on the yield that actually counts. But be honest about the size of the edge -- 3.9% versus 3.8% is noise, and the deciding factor is really the lower price per meter, not the yield. On individual buildings the specific unit will swamp any district-level difference.

This is a comparison of averages, not investment advice. The data here covers median price, long-term net yield and gross Airbnb yield; it says nothing about vacancy, building quality, or how these numbers move over time. Check the actual apartment before you check the district.

Related: Jesús María · Pueblo Libre · Lima Yield Index