If you're comparing La Paz to Los Cabos, the first thing to understand is that they're not really the same market. La Paz is the capital of Baja California Sur, a real working city of about 300,000 people on the Sea of Cortez, not a resort town built around tourism. That shows up in the real estate: you're not paying a Cabo premium here, and the buyers who end up in La Paz are usually looking for a place to actually live, not a vacation rental play.
Market snapshot: I pulled current MLS listings across the city and the price spread runs from around $107,500 up to $1.6 million, with the median sitting close to $343,000. That range covers everything from smaller resale homes and condos in town to larger properties in the gated developments out toward El Centenario. There's no single "typical" La Paz price point -- what you'll pay depends heavily on which part of the city you're looking at.
La Paz isn't one neighborhood, it's several, and they're genuinely different from each other. Centro is the historic downtown along the Malecón -- walkable, older homes, close to everything. El Centenario, about 15 minutes west, is where most of the newer gated communities and beachfront lots are going in, with easy access to El Centenario beach. Esterito and Caimancito sit along the bay closer to town. Each of these has its own price range and its own reasons to buy there, and I cover them individually if you want more detail than fits here.
If you're a foreign buyer, the two things that trip people up most are how you actually hold title (escritura publica if you qualify, fideicomiso if the property is in the restricted coastal zone and you're not a Mexican citizen) and what closing actually costs on top of the purchase price -- budget 5-6% for a foreign buyer once you account for acquisition tax, notario fees, and the trust setup if one applies. I've written both of those up in detail if you want the full breakdown.
If you want to see what's actually on the market right now rather than just read about it, the search below pulls live MLS listings for La Paz, filterable by price, bedrooms, and square footage. Or reach out directly and I can walk you through what fits what you're actually looking for.