Parque Rodó and Cordón: the Montevideo lived on foot
A 42-hectare park designed by the landscaper behind Carrasco, the oldest neighbourhood outside the walls and the most expensive square metre, all on foot.
There is one fact about Montevideo that tends to dismantle the intuition of anyone researching neighbourhoods from a distance.
The most expensive square metre of apartment space in the city is not in Carrasco. It is not in Punta Carretas or in Pocitos.
It is in Parque Rodó — USD 4,415, according to the half-yearly 2026 report from Mercado Libre, the main classifieds platform in the region.
This is not a statistical anomaly. It is the numerical expression of something simple: in this piece of the city, beach, park, university, museum, theatre and nightlife all fit inside a fifteen-minute walk. And it is the only part of Montevideo where that happens.
The park came before the neighbourhood
The area that carries the name today was, at the end of the nineteenth century, the plot of a property development called the “Porteño” neighbourhood, whose auctions began in 1889, promoted by the Banco de Crédito Real Uruguayo —whose main shareholder was Francisco Piria, the same man who would invent Piriápolis the following year.
On 18 March 1898, the State approved the resolution allocating funds to create the Parque Urbano. Preliminary works were carried out between 1900 and 1902, and the design was entrusted to two French landscapers: Carlos Racine and Carlos Thays.
Thays is the same name that, ten years later, would design the garden neighbourhood of Carrasco. They are the two best-designed places in Montevideo, and they came off the same drawing board.
Between 1903 and 1904 the works produced the artificial lake of around 17,059 m², the central avenue, the terrace for music, the dairy that sold fresh milk, the children playground and the castle on the edge of the lake —which today houses the María Stagnero de Munar Children Library.
In 1917, the Parque Urbano was renamed Parque José Enrique Rodó, in honour of the writer. The statue occupying the central spot is the work of José Belloni.
Today it covers 42 hectares that contain, besides the lake: the Teatro de Verano Ramón Collazo, the stage of the Montevideo carnival; a funfair whose first attraction —a roller coaster— was already running on 24 January 1889; the Fountain of the Athletes, by José Luis Zorrilla de San Martín; and an open-air photography gallery.
What surrounds it
The list is short and explains the price.
Playa Ramírez, on the other side of the rambla, which owes its name to the old salting plant of José Ramírez Pérez.
The Museo Nacional de Artes Visuales, with the main collection of Uruguayan art in the country.
Three faculties of the Universidad de la República —Engineering, Architecture, and Information and Communication— plus Economic Sciences nearby. That is what gives the neighbourhood its characteristic age profile and its night-time street life.
The old Parque Hotel, today the headquarters of Mercosur, and the Estadio Luis Franzini, home of Defensor Sporting.
Adding it up: beach, a 42-hectare park, a national museum, an open-air theatre, a university and a stadium, all within the same walking radius. No other neighbourhood in the capital brings that combination together —and it is that, not the size of the apartments, that shows up in the square metre.
Cordón: where Montevideo stepped outside the walls
The neighbour to the north has a different nature and a very different entry price.
Cordón was the first neighbourhood created outside the walls of the Citadel of Montevideo. Before that it was the “Cardal”, a maize field overrun by thistles, on the far side of the strip of land that had to remain empty for the defence of the town —the ejido, measured at “a cannon shot” from the walls.
In 1750 the line separating the ejido from the lands of the Cabildo was marked out with stone posts. That cord of markers gave the place its name, and the name has lasted for almost three centuries. In 1765, Bartolomé Mitre Martínez laid out around sixty blocks for settlement.
Among the first residents of the Cardal were Juan Antonio and Martín José Artigas —grandfather and father of José Gervasio Artigas— in a house on the road that would become Avenida 18 de Julio, today the main street in the country. Between 1805 and 1807, José Gervasio himself, then an adjutant in the Blandengues, was responsible for guarding the jurisdiction of Cordón. On 19 June 1811, the patriot encampment was set up there.
Of the cross that the Fernández brothers raised at the start of the nineteenth century, the Cruz del Cardal, the surviving piece has stood since 1967 on the façade of the Church of Nuestra Señora del Carmen, the church of Cordón.
In 1861 the neighbourhood was formally incorporated into the “Ciudad Nueva”; in 1867 it received its grid layout, surveyed by the engineer Antonio M. Dupart. And in 1892, the old English cemetery between 18 de Julio, Ejido, Santiago de Chile and Soriano gave way to a parade ground —which in the 1950s became the Palacio Municipal, today the seat of the Intendencia de Montevideo, the city government.
Cordón forms, together with Centro and Ciudad Vieja, the financial district of the city: banks, offices, government departments, shops and the main educational institutions.
The figures
| Indicator | Parque Rodó | Cordón |
|---|---|---|
| Square metre, apartments (Mercado Libre) | USD 4,415 — the highest in the city | — |
| Square metre, apartments (INGAR) | USD 3,715 | — |
| Square metre, houses (Mercado Libre) | — | USD 1,484 |
| Apartment rent (average advertised) | — | $ 27,000 (~USD 670) |
| House rent (average advertised) | $ 60,000 | $ 40,000 |
| Share of apartment rental searches | — | 12% — second in the city |
Half-yearly Mercado Libre report for the first half of 2026, with asking prices, and the INGAR index for July 2026. Conversions at the interbank exchange rate of 40.2730 published by the DGI, the tax authority, for 31 July 2026. The Montevideo average in the same survey is $ 28,500 for apartment rent and USD 3,500 for the square metre.
The contrast between the two columns is the opportunity. These are adjoining neighbourhoods, separated by a few blocks, and one of them sits well below the city average while the other leads the ranking. Anyone who knows the geography can live ten minutes on foot from the park, the museum and the beach while paying Cordón prices.
Why this is the best place in the city for the first year
There is a practical argument that usually settles the question for those arriving.
The biggest hidden cost of an international move is not the rent: it is buying a car before you know the city. Here that is not necessary. From the rambla to 18 de Julio is a fifteen-minute walk; from 18 de Julio to the Tres Cruces terminal, another ten by bus. Supermarket, pharmacy, gym, cinema, university, hospital and notary all sit inside a square you can cross on foot.
That allows you to do what we recommend to practically every family: rent for a short period and get to know the city before choosing where to settle for good. Six months living here teaches more about Montevideo than any ten-day visit —and it costs less than correcting the wrong choice later.
Anyone who later wants a house, a garden and an international school already knows where to go: Carrasco, Punta Gorda and Carrasco Norte or Ciudad de la Costa. Anyone who discovers they like living on foot will probably stay around here —or cross over to Pocitos and Punta Carretas.
Who this area is the right address for
- Those who want to live without a car and use the city on foot.
- Those arriving alone or as a couple who want density, cultural life and people on the street.
- Those who work remotely and value a café, a coworking space and a library three blocks away.
- Those who want to be well located on a contained budget —the combination of Cordón as an address and Parque Rodó as a back garden is the best value in the capital.
- Those who study, teach or research: three faculties within the same radius.
- Those who want to get to know Montevideo before deciding where the family will settle.
Note on sources: the historical data comes from public sources of the Intendencia de Montevideo, in particular from Municipio B and the neighbourhood files, and from Uruguayan historical bibliography; sources differ on the exact size of the park, put at between 42 and 44 hectares depending on the measurement criterion. The prices by neighbourhood come from the half-yearly Mercado Libre report for the first half of 2026 and correspond to advertised figures, not to official statistics or closed transactions; INGAR is a market index for July 2026. The conversions into dollars are dated references and age with the exchange rate.
Frequently asked questions
Which neighbourhood has the most expensive square metre in Montevideo?
Parque Rodó, at around USD 4,415 per square metre of apartment space in the first half of 2026, ahead of Carrasco (USD 4,366) and Punta Carretas (USD 4,242), according to the Mercado Libre report.
Why is Parque Rodó so highly valued?
Because it brings together, within a walking radius, the beach, a 42-hectare park, the Museo Nacional de Artes Visuales, the Teatro de Verano, three faculties and the rambla. It is the highest density of urban amenities in the city.
Who designed Parque Rodó?
The French landscapers Carlos Racine and Carlos Thays, working from the construction begun between 1900 and 1902. Thays is also the author of the design of the garden neighbourhood of Carrasco.
Where does the name Cordón come from?
From the cord of stone markers laid out in 1750 to separate the ejido —the strip that had to remain clear for the defence of the walled city— from the lands of the Cabildo. It was the first neighbourhood built outside the walls.
Is Cordón a cheap neighbourhood?
It is one of the most affordable in the central area: apartment rent of around $ 27,000 a month, against a city average of $ 28,500, and a square metre for houses of around USD 1,484. It is also the second most searched neighbourhood in the city for renting an apartment.
Can you live in this area without a car?
Yes, comfortably. It is the part of Montevideo with the most services per block and the best transport connections, including proximity to the Tres Cruces terminal.
The starting point
Every city has a neighbourhood that serves as a front door —the one where you learn the city before choosing where to stay.
In Montevideo, that place is the pairing of Parque Rodó and Cordón. One was designed by a French landscaper around an artificial lake from 1904; the other was born from a cord of stone markers in 1750 and became the administrative heart of the country. Together they deliver the most complete and the cheapest way to find out whether Uruguayan life suits you —on foot, without a car and without a long-term commitment.
The complete map of the capital is in Living in Montevideo and that of the country in Map of the regions of Uruguay. The arithmetic is in Cost of living in Uruguay in 2026, and what to expect from the first twelve months is in The first year in Uruguay.
And when the phase of getting to know the place turns into the decision to stay, that is the path we walk alongside the family in Relocation and Living.
Informational content. It does not constitute property, legal, tax or investment advice. Data verified on 21 August 2026 against Uruguayan public sources. Market figures correspond to asking prices on private platforms and to dated market indices, not to official statistics. Each situation is analysed individually.