How Much Does It Cost to Live In Colombia?
Due to the fact that there are many benefits of living in Colombia, people are attracted and more and more of them are thinking about settling there.
It can be because of the low cost of living in a country that has to offer everything that you would expect and many things that you would not.
Once you are there, you will think that it is a more expensive location, but be sure that Colombia is a good value and you will have a perfect life there.Cost of Living Index:
It is true that lunch in Colombia will run you $4 at inexpensive places but you will need to spend a few dollars more if you want to get a much better quality of food.
Alcohol is not expensive and people who like having a bottle of beer with their lunch would pay it less than $1.
Compared to some other big cities, your living expenses related to food will be significantly lower in Colombia.
The prices are lower due to the standard of living which is not quite high.
Groceries are the most important monthly spending and take the most of the budget.
The cost of travel in Colombia within the cities and throughout the country is cheap.
Public transportation prices are also reasonable and if you are interested in driving, the price of gasoline is not so high either.
As a newcomer, it is suggested not to drive until you get familiar with the city you settle in.
In Colombia, utility prices are estimated according to the location of your apartment.
If you live in a region where the average income of its residents is lower, your utility costs will be lower, and vice versa.
So, when looking for an apartment pay attention to choosing a location with lower expenses so as to have big monthly savings.
SPORTS & LEISURE
When it comes to leisure time in Colombia, personal spending habits can vary drastically.
Fitness club fees are less than $30 per month and that can be considered affordable for foreigners coming from more developed countries.
Cinema tickets are a bargain here, as they can be found for less than $4.
CLOTHING & SHOES
Designer and branded goods will be more expensive here and when compared to the standard of living, the prices are rather high and unreasonable.
In the countries with more than $1000 average monthly salary, the prices are lower than in Colombia where the average salary is only $300.
RENT PER MONTH
From the perspective of a newcomer, buying a property might not be the ideal solution, due to the fact that you have just arrived.
The rent prices will differ depending on the city and the location of the apartment in which you choose to live, but in general, they are low and affordable.
Cost of Living Averages Table for Colombia
|Average Restaurant Prices|
|Meal (Inexpensive Restaurant)||$3.17|
|Domestic Beer (0.5 Liter)||$0.95|
|Water (0.33 Liter)||$0.61||Average Market Prices|
|Milk (1 Liter)||$3.04|
|Loaf Bread (500g)||$0.82|
|Eggs (12)||$1.44||Average Transport Prices|
|One Way Ticket||$0.70|
|Gasoline||$2.88||Average Utilities Prices|
|Basic (Water, Electricity, Garbage, Heating, Cooling)||$70.93|
|1 min. of Prepaid Mobile Tariff Local||$0.05|
|Internet (Unlimited Data, Cable/ADSL)||$31.74||Average Leisure Prices|
|Fitness Club, Monthly Fee for 1 Adult||$28.81|
|Tennis Court Rent (1 Hour)||$9|
|Cinema, 1 Seat, International Release||$3.80||Average Clothing Prices|
|1 Pair of Jeans (Levis 501 Or Comparable)||$54.24|
|1 Summer Dress in a Chain Store (Zara, etc...)||$35.56|
|1 Pair of Adidas Walking Shoes (Mid-Range)||$77.08||Average Rent Prices|
|Apartment (1 bedroom) in City Center||$285.89|
|Apartment (1 bedroom) Outside of Center||$232.41|
|Apartment (3 bedrooms) in City Center||$505.32|
How Does the Average Person Spend Their Money in Colombia?
As each country in the world, Colombia has its advantages and disadvantages that should have been concerned before coming there to live.
Spending habits of its citizens might be helpful to you to get acquainted with the possible expenses and the way they are organized, no matter how high your budget is.
Food is of utmost importance and that is why it is the most expensive cost of living with the rent coming after it.
Clothing is the least important and pretty little money is given for it.
Colombia: Average Salary, Minimum Wage & Mortgages
Colombia is a great value for those who settle there either temporarily or permanently, especially if they earn the salaries in their home countries.
However, for those earning their income here, it would be difficult and struggling to survive with the minimum wages, as the whole of it would go only for the rent.
Someone would thought that buying a place to live would lower his/her expenses, and that is true, but the mortgage interest rates are so high, that it would be difficult to afford purchasing property.
Cost of Living by City in Colombia
|City||Cost of Living Index|