The answer is yes and no. Generally speaking, Playa Del Carmen is an expensive city, more expensive than what you have come to expect of Mexican cities. This is attributed to the fact that leases in the town area are expensive and that most products are imported. You can, however, enjoy Playa for cheap, by choosing where you spend your money. For example, skip the touristy hotels and shops on 5th Avenue and eat or shop where the locals do.