Membrane electrode assemblies of direct methanol fuel cells (DMFCs) with different catalyst and ionomer loading were prepared. Anode performance and impedance spectra were measured to clarify the characteristics of vapor feed DMFCs (VF-DMFCs). The impedance spectra were deconvolved into three semi-circles with different time constants, each showing a different dependence on the anodic polarization. The middle-frequency range arc decreased as the anodic polarization increased, indicating that this process represents the oxidation reaction of methanol. The high-frequency range arc showed little dependence on the anodic polarization, but increased with the thickness of the electrode, indicating that this process might be related to proton conduction through the electrode. The low-frequency range arc was observed only when the methanol concentration was low, in contrast to liquid feed DMFCs (LF-DMFCs), for which the removal of the product gas presents a large resistance. A simpler design can therefore be used for a VF-DMFC, giving it an advantage over an LF-DMFC. A decreasing ionomer to catalyst ratio ( I/ C) caused the interfacial conductivity ( σ E) to increase, but it intensively decreased when I/ C was below 0.25. Thus, the connection of the catalysts is important for the anode’s performance.