Just moved to mexico three weeks ago so I don't really have enough experience for in depth comparisons but have noticed the following so far.
1. Rentals are much more affordable than the U.S. and you can get some very nice places for reasonable rates.
2. Food markets offer U.S. brands but at very high prices. Saw a Red Baron pizza in the store for approx $9 vs about $3 at home. Many local brands are just as good at much lower prices. You can eat out very inexpensively but have to watch the health factors as you make those choices as to where to eat. We can also have a gourmet meal here for two for $120 total that includes appetizers, main course, 4 cocktails, deserts, coffee and tip. Similar meal back home would have cost about $180-200.
3. Electricity here is very expensive along the coast where we live but drops off significantly as you go inland. We could save quite a bit if we would just go without AC but then the negative effects of constant salt air exposure and high humidity will offset a good deal of those savings through decreased longevity of items in the home.
4. Health insurance is very inexpensive but quality care is not as readily available. Normal health issues can be handled here quite well but when dealing with complicated matters like heart operations or cancer treatment we will probably go to Merida about three hours away.
5. Labor services are really cheap and easy to find good workers.
Wherever you go, there you are.
(In other words, no whining!)