Cost Of Living in Belo Horizonte 2024
Average monthly spending for singles, couples, students, and families in Belo Horizonte
Whether you're living in Belo Horizonte or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.
Average Monthly Expenditure15,000 BRL
per month$3,1001,200 BRL $240
$31,000 150,000 BRL
Single11,000 BRL
per month$2,2003,600 BRL $720
$14,000 72,000 BRL
Couple18,000 BRL
per month$3,6006,000 BRL $1,200
$19,000 95,000 BRL
Family24,000 BRL
per month$4,8008,300 BRL $1,700
$26,000 130,000 BRL
Student7,300 BRL
per month$1,5002,900 BRL $590
$2,700 13,000 BRL
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Belo Horizonte is 11,000 BRL. Expenses can range from 3,600 BRL at the minimum level to 72,000 BRL at the highest end.
Couples
The average monthly spending of couples in Belo Horizonte is 18,000 BRL. Expenditure can range from 6,000 BRL to 95,000 BRL per month.
Families
The average cost of living for families in Belo Horizonte is 24,000 BRL per month. Families spend anywhere from 8,300 BRL to 130,000 BRL.
Students
The average monthly expenditure for students in Belo Horizonte is 7,300 BRL. Students spend from 2,900 BRL to 13,000 BRL per month.
Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.
Prices and cost of goods and services in Belo Horizonte
Dining, food, and beverages costs
Large bottle of water
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
Soda or Soft Drink
Cappuccino or latte Grocery and market costs
Milk large bottle
Loaf of bread
12 eggs
Fresh whole chicken
Beef 1 kg or 1 lb
Rice 1 kg or 1 lb
Tomato 1 kg or 1 lb
Apples 1 kg or 1 lb Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank
Average car 1-day rental
Average car price | 38,000 BRL | 75,000 BRL | 100,000 BRL |
Bus ticket one way
Car Service Utility cost (monthly)
Utility Bill - Individual | 210 BRL | 640 BRL | 4,300 BRL |
Utility Bill - Couple | 300 BRL | 890 BRL | 4,800 BRL |
Utility Bill - Family | 250 BRL | 720 BRL | 3,900 BRL |
Internet and cable
Mobile phone charges Leisure and activities costs
Movie ticket
One month gym membership Cloths and accessories costs
Pair of jeans or pants
Woman dress
Woman shoes
Men's shoes
Men suit
Regular t-shirt Housing costs / monthly rent
Studio apartment | 1,400 BRL | 2,000 BRL | 5,400 BRL |
1-bedroom apartment | 2,000 BRL | 3,300 BRL | 8,100 BRL |
2-bedroom apartment | 2,700 BRL | 4,100 BRL | 11,000 BRL |
Housing costs / Buying
Studio apartment | 270,000 BRL | 410,000 BRL | 810,000 BRL |
1-bedroom apartment | 330,000 BRL | 540,000 BRL | 2M BRL |
| $66,000 | $110,000 | $410,000 |
2-bedroom apartment | 540,000 BRL | 1.6M BRL | 3.3M BRL |
| $110,000 | $330,000 | $660,000 |
Furniture Costs
King Size Bed | 1,500 BRL | 1,900 BRL | 2,500 BRL |
Double Bed | 1,000 BRL | 1,500 BRL | 1,900 BRL |
Single Bed | 890 BRL | 1,200 BRL | 1,500 BRL |
Living Room | 1,700 BRL | 2,200 BRL | 7,500 BRL |
Dining Table | 750 BRL | 1,000 BRL | 1,900 BRL |
Sofa or Couch | 1,000 BRL | 1,400 BRL | 3,000 BRL |
Electronics and House Appliance Costs
TV Set | 1,000 BRL | 1,500 BRL | 3,000 BRL |
Fridge or Freezer | 890 BRL | 1,400 BRL | 1,900 BRL |
Washing Machine | 1,200 BRL | 1,700 BRL | 3,000 BRL |
Stove or Cooker | 1,100 BRL | 1,400 BRL | 1,900 BRL |
Mobile Phone | 1,300 BRL | 1,500 BRL | 2,200 BRL |
Laptop or Computer | 1,400 BRL | 1,700 BRL | 3,000 BRL |
Expenditure to Income Ratio in Belo Horizonte
One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.
Spending to Income Ratio
90%
80% to 100%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 5% |
| 50% - 60% | 10% |
| 60% - 70% | 17% |
| 70% - 80% | 26% |
| 80% - 90% | 18% |
| 90% - 100% | 10% |
| 100% - 110% | 5% |
| 110% - 120% | 3% |
| 120% - 130% | 2% |
| 130% - 140% | 2% |
| > 140% | 1% |
Interpretation and Analysis
The average spending-to-salary ratio in Belo Horizonte is 90%
This means that on average, people spend around 90% of their income for living.
According to the distribution table, 17% of the population spend approximately 60% to 70% of their income every month.
How can spending be more than income?
A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.
Individual
81%
Spending-Income-Ratio
72%
90%
Couple
86%
Spending-Income-Ratio
76%
95%
Family
95%
Spending-Income-Ratio
84%
100%
How do people spend their money in Belo Horizonte?
We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.
The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.
Housing Expenditure25%
25% of total expenses on average (14% to 33%)
| LOW | $72 360 BRL |
| AVERAGE | $940 4,600 BRL |
| HIGH | $9,400 46,000 BRL |
| Per Month |
People living in Belo Horizonte typically spend from 14% to 33% of their total monthly expenditure on housing with 25% being the average. The average spend on housing is 4,600 BRL with expenditure ranging from 360 BRL to 46,000 BRL. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.
Utilities, Electricity, Water7%
7% of total expenses on average (4% to 11%)
| LOW | $12 60 BRL |
| AVERAGE | $160 770 BRL |
| HIGH | $1,600 7,700 BRL |
| Per Month |
Utility expenditure like electricity, water, and gas in Belo Horizonte ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 770 BRL with 60 BRL and 7,700 BRL being the upper and lower limits.
Transport, Fuel, Commute8%
8% of total expenses on average (4% to 12%)
| LOW | $24 120 BRL |
| AVERAGE | $310 1,500 BRL |
| HIGH | $3,100 15,000 BRL |
| Per Month |
Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 120 BRL to 15,000 BRL on commuting with 1,500 BRL being the norm for most people in one month. This means that money spent on transport constitutes about 8% of total spending on average but can go as low as 4% or as high as 12%.
Food and Groceries Cost27%
27% of total expenses on average (19% to 33%)
| LOW | $60 300 BRL |
| AVERAGE | $780 3,900 BRL |
| HIGH | $7,800 39,000 BRL |
| Per Month |
The average outlay on groceries in a month in Belo Horizonte is 3,900 BRL. The cost of groceries can range between 300 BRL to 39,000 BRL. People spend on average about 27% on food and groceries with upper and lower bounds of 19% and 33% respectively.
Healthcare and Medical Services9%
9% of total expenses on average (4% to 12%)
| LOW | $17 83 BRL |
| AVERAGE | $220 1,100 BRL |
| HIGH | $2,200 11,000 BRL |
| Per Month |
People in Belo Horizonte allocate 4% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 9%. The range of medical expenses range from 83 BRL to 11,000 BRL with 1,100 BRL being the norm.
Leisure and Shopping5%
5% of total expenses on average (3% to 9%)
| LOW | $9.6 48 BRL |
| AVERAGE | $130 620 BRL |
| HIGH | $1,300 6,200 BRL |
| Per Month |
This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 48 BRL to 6,200 BRL with 620 BRL being the average. Speaking of percentages, that equates to 3% to 9% of total expenses with an average of 5% for most residents.
Education and Schooling6%
6% of total expenses on average (4% to 12%)
| LOW | $14 72 BRL |
| AVERAGE | $190 930 BRL |
| HIGH | $1,900 9,300 BRL |
| Per Month |
Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 6% of the monthly expenditure with 4% and 12% being the lower and upper bounds respectively. The average reported education cost is 930 BRL per month with 72 BRL being the minimum spent amount and 9,300 BRL being the maximum.
Other Expenses13%
13% of total expenses on average (8% to 20%)
| LOW | $31 150 BRL |
| AVERAGE | $410 2,000 BRL |
| HIGH | $4,100 20,000 BRL |
| Per Month |
How much money can you save in Belo Horizonte every month?
We asked thousands of people what percentage of their income can they save in a month. Below are the answers.
What percentage of people in Belo Horizonte manage to save money from their income every month?
Almost 73% of the surveyed people in Belo Horizonte said that they can save some money at the end of each month while 27% said that aren't saving anything.
Percentage of people saving money by population group in Belo Horizonte
| Group | Savers | Non Savers |
|---|
| Singles | 73% | 27% |
| Couples | 67% | 33% |
| Families | 62% | 38% |
Savings-to-Income Ratio
The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.
Saving to Income Ratio
Average Monthly Saved Amount
440 BRL
$88 | 5,700 BRL
$1,100 | 57,000 BRL
$11,000 |
For most people, 14% to 36% of their monthly income is what they can allocate to their savings, with 24% being the average. The amount of money that people can save is approximately 5,700 BRL on average with savings ranging from 440 BRL to 57,000 BRL.
73% of surveyed singles reported some of their income going to savings while 67% of couples said the same. 62% of families confirmed their ability to save money.
How much money do people actually save in Belo Horizonte?
The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.
Singles
Saving to Income Ratio
Average Monthly Saved Amount
1,300 BRL
$260 | 3,900 BRL
$790 | 26,000 BRL
$5,300 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 30% |
| 10% - 20% | 24% |
| 20% - 30% | 16% |
| 30% - 40% | 15% |
| 40% - 50% | 11% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 17% to 38% of their monthly income to savings, with 28% being the average for most singles. The average amount of money that singles are able to save is 3,900 BRL with 1,300 BRL and 26,000 BRL being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
2,200 BRL
$440 | 6,500 BRL
$1,300 | 35,000 BRL
$7,000 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 34% |
| 10% - 20% | 26% |
| 20% - 30% | 19% |
| 30% - 40% | 10% |
| 40% - 50% | 8% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 15% to 37% of their monthly income, with 26% being the average for most couples. The average amount of money that couples can save is 6,500 BRL with 2,200 BRL and 35,000 BRL being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
3,000 BRL
$620 | 8,700 BRL
$1,800 | 48,000 BRL
$9,700 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 37% |
| 10% - 20% | 29% |
| 20% - 30% | 20% |
| 30% - 40% | 7% |
| 40% - 50% | 5% |
| > 50% | 2% |
Interpretation and Analysis
Families in Belo Horizonte can save anywhere between 13% to 33% of their monthly income, with 22% being the average for most families. The average amount of money that families can put aside is 8,700 BRL with 3,000 BRL and 48,000 BRL being the minimum and maximum respectively.
A typical and healthy budgeting structure
The 50/30/20 rule
Spending among different people can vary significantly based on factors such as their income, lifestyle,
location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule,
which suggests allocating your income into three main categories in the following percentages.
50% for needs and financial obligations
This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.
30% for wants and discretionary spending
This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.
20% for savings and emergency fund
This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.
About financial planning, money management, and household budgeting
The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.
Affordable living in Belo Horizonte
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Belo Horizonte?
Around 75% of surveyed residents think that living in Belo Horizonte is affordable with proper budgeting while 25% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Belo Horizonte
People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked residents how easily cost-cutting is and the answers were distributed as follows:
Plenty of low-cost options66%
Few low-cost options34%
Based on the survey, 66% of the people living in Belo Horizonte have no problem finding low-cost alternatives to support a frugal lifestyle while 34% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
Emergency Funds
An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked residents of Belo Horizonte whether they have an emergency fund and the answers were as follows.
Yes75%
No25%
Based on the survey, 25% of the people living in Belo Horizonte said that they don't have an emergency fund while 75% said that they do.
Financial Literacy in Brazil
Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.
Financial Leteracy64%
We asked residents of Brazil whether they acquired any adequate personal financial training in their lives. Approximately 36% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 64% said that they know about the general principles of personal finance from sources other than their own experience.
Difficulty in Budgeting and Financial Planning
We wanted to understand whether residents of Brazil have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 26% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 74% said that they have everything under control.
Struggles with finance26%
Easily manages finances74%
Financial goals of people in Belo Horizonte
In an attempt to understand the economic situation in Belo Horizonte, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.
| Financial Goal | % People |
|---|
| Emergency Fund | 7% |
| Debt Reduction | 37% |
| Retirement Savings | 9% |
| Education Funding | 8% |
| Homeownership | 17% |
| Investing | 8% |
| Travel or Lifestyle | 9% |
| Healthcare Expenses | 11% |
| Financial Independence | 7% |
Around 7% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 37% said their number one priority is to pay off high-interest debt or loans and improve credit. 9% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 8% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 9% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 11% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Saving Challenges in Belo Horizonte
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Belo Horizonte. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 6% |
| High Expenses | 9% |
| Debt and Loans | 16% |
| Lack of Budgeting Skills | 11% |
| Impulsive Spending | 10% |
| Financial Emergencies | 6% |
| Living the moment | 6% |
| Will do it later | 19% |
| Inflation | 12% |
| Social Pressure | 3% |
| Market Instability | 3% |
Around 6% of the people said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 16% of the residents said that they are burdened with debt and find it challenging to save money. 11% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 10% blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 19% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 12% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or societal expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.
Typical saving choices for people in Belo Horizonte
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 11% |
| Gold | 11% |
| Savings Accounts | 17% |
| Retirement Accounts | 11% |
| Cash Savings | 18% |
| Real Estate | 10% |
| Investment | 6% |
| Stocks | 5% |
| Bonds | 6% |
| Mutual Funds | 3% |
| Certificates of Deposit | 3% |
Retirement, pension plans, and life after work in Belo Horizonte
What does the retirement lifestyle look like in Belo Horizonte and how much retirement savings are required?
Retirement age
The retirement age for most employees in Brazil is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.
Retirement planning and savings
There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.
The typical saved amount of money you should have at every age as multiples of monthly salary:| Age | Amount |
|---|
| 25 | 5x monthly salary at age 25 |
| 30 | 10x monthly salary at age 30 |
| 35 | 15x monthly salary at age 35 |
| 40 | 25x monthly salary at age 40 |
| 45 | 32x monthly salary at age 45 |
| 50 | 48x monthly salary at age 50 |
| 55 | 56x monthly salary at age 55 |
| 60 | 64x monthly salary at age 60 |
| 65 | 78x monthly salary at age 65 |
The typical average saved amount of money you should have at every age in Belo Horizonte:| Age | Amount |
|---|
| 25 | 42,000 BRL |
| 30 | 85,000 BRL |
| 35 | 150,000 BRL |
| 40 | 210,000 BRL |
| 45 | 320,000 BRL |
| 50 | 440,000 BRL |
| 55 | 530,000 BRL |
| 60 | 660,000 BRL |
| 65 | 780,000 BRL |
Retirement Income Distribution
We asked residents of Belo Horizonte about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 13% |
| Savings | 22% |
| Investments | 13% |
| Social Security | 8% |
| Annuities | 8% |
| Part-time Job | 12% |
| Real Estate | 17% |
| Dividends and Interest | 8% |
Retirement Monthly Expenses in Belo Horizonte 2,600 BRL
$520 | 7,800 BRL
$1,600 | 52,000 BRL
$10,000 |
Debt, loans, and mortgages in Belo Horizonte
Percentage of people who are in debt
According to the survey, 25% of the people in Belo Horizonte have some kind of debt, loan, mortgage, or credit card payments while 75% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Belo Horizonte
Debt to income ratio
30%
21% to 40%
( monthly debt payment / monthly income ) x 100
Interpretation
The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 30% of the people's monthly income in Belo Horizonte goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 14% |
| 40% - 50% | 13% |
| 30% - 40% | 15% |
| 20% - 30% | 13% |
| 10% - 20% | 16% |
| 0% - 10% | 27% |
According to our data, 3% of the debtors in Belo Horizonte pay 60%+ of their income as debt settlement while 14% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 13% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 15% dedicated 30% to 40% of income for same. Things are looking brighter for 13% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Belo Horizonte
| Debt | % People |
|---|
| Real Estate Mortgage | 11% |
| Auto Loan | 19% |
| Student Loan | 3% |
| Credit Card | 27% |
| Personal Loan | 39% |
11% of debtors in Belo Horizonte confirm that real estate mortgages constitutes the main part of their outstanding debt while 27% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 19% of people and personal loans rose at 39%. Lastly, student loans are the main source of debt for 3% of debtors in Belo Horizonte.
About credit score and debt managementManaging debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.
Good debt vs. Bad debt
Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.
Loan Affordability Index in Belo Horizonte
Besides measuring the loan-to-income ratio, we asked residents of Belo Horizonte how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.
Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.
| Frequency | % People |
|---|
| Never | 53% |
| Once a year | 23% |
| Twice a year | 12% |
| Three times a year | 8% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Belo Horizonte
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Belo Horizonte
Monthly Rent Prices
Studio apartment | 1,400 BRL | 2,000 BRL | 5,400 BRL |
1-bedroom apartment | 2,000 BRL | 3,300 BRL | 8,100 BRL |
2-bedroom apartment | 2,700 BRL | 4,100 BRL | 11,000 BRL |
3-bedroom apartment | 3,300 BRL | 5,400 BRL | 15,000 BRL |
Furnished apartment | 6,500 BRL | 16,000 BRL | 33,000 BRL |
Townhouse | 5,400 BRL | 8,100 BRL | 23,000 BRL |
House | 6,500 BRL | 16,000 BRL | 33,000 BRL |
Villa | 8,100 BRL | 20,000 BRL | 33,000 BRL |
The monthly rental cost of a studio apartment in Belo Horizonte ranges between 1,400 BRL and 5,400 BRL, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 2,000 BRL to 8,100 BRL. Two-bedroom rentals rate ranges between 2,700 BRL and 11,000 BRL per month. The monthly rental for a three-bedroom apartment ranges from 3,300 BRL to 15,000 BRL. The average rent of a townhouse in Belo Horizonte is around 8,100 BRL while house rental costs can be as high as 16,000 BRL per month. Finally, if you want to rent a villa, expect to pay anywhere from 8,100 BRL to 33,000 BRL per month.
Apartment and house prices in Belo Horizonte
Cost of buying a property
Studio apartment | 270,000 BRL | 410,000 BRL | 810,000 BRL |
1-bedroom apartment | 330,000 BRL | 540,000 BRL | 2M BRL |
| $66,000 | $110,000 | $410,000 |
2-bedroom apartment | 540,000 BRL | 1.6M BRL | 3.3M BRL |
| $110,000 | $330,000 | $660,000 |
3-bedroom apartment | 1.8M BRL | 2.7M BRL | 8.1M BRL |
Townhouse | 2.3M BRL | 5.4M BRL | 20M BRL |
House
Villa The average price of a studio apartment in Belo Horizonte can range from 270,000 BRL to 810,000 BRL depending on location. One bedroom cost can be anywhere from 330,000 BRL to 2M BRL. A villa can cost you 18M BRL on average with prices ranging from 3.3M BRL to 27M BRL.
If you're leasing or purchasing, housing costs in Belo Horizonte will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.
House / apartment prices to income ratio
Property price to income ratio( average property price / average monthly income ) x 100
| 47 | x136 monthly income | 233 |
Property prices in Belo Horizonte can be x136 to x233 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x136 multiples of the average monthly salary in Belo Horizonte.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Belo Horizonte is around 36%. This means that people pay 36% of their income for rent. Those figures can range from 25% to 47% depending on the salary, location, and type of property.
The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.
Housing affordability index
The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.
Housing Affordability Index
33% Property Taxes
Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.
Home Maintenance Costs
Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.
Urban vs. rural living costs
Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Belo Horizonte
Housing31%
31% of total expenses on average (19% to 43%)
| LOW | $260 1,300 BRL |
| AVERAGE | $780 3,900 BRL |
| HIGH | $5,200 26,000 BRL |
| Per Month |
Utilities, Electricity, Water8%
8% of total expenses on average (4% to 13%)
| LOW | $43 210 BRL |
| AVERAGE | $130 640 BRL |
| HIGH | $870 4,300 BRL |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 12%)
| LOW | $58 290 BRL |
| AVERAGE | $170 860 BRL |
| HIGH | $1,200 5,700 BRL |
| Per Month |
Food and Groceries18%
18% of total expenses on average (12% to 23%)
| LOW | $120 570 BRL |
| AVERAGE | $350 1,700 BRL |
| HIGH | $2,300 11,000 BRL |
| Per Month |
Healthcare11%
11% of total expenses on average (5% to 15%)
| LOW | $65 320 BRL |
| AVERAGE | $190 970 BRL |
| HIGH | $1,300 6,400 BRL |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (3% to 6%)
| LOW | $36 180 BRL |
| AVERAGE | $110 540 BRL |
| HIGH | $720 3,600 BRL |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $14 72 BRL |
| AVERAGE | $43 210 BRL |
| HIGH | $290 1,400 BRL |
| Per Month |
Other Expenses21%
21% of total expenses on average (13% to 25%)
| LOW | $130 640 BRL |
| AVERAGE | $390 1,900 BRL |
| HIGH | $2,600 13,000 BRL |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Belo Horizonte
Housing28%
28% of total expenses on average (21% to 38%)
| LOW | $400 2,000 BRL |
| AVERAGE | $1,200 5,900 BRL |
| HIGH | $6,400 31,000 BRL |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (5% to 11%)
| LOW | $60 300 BRL |
| AVERAGE | $180 890 BRL |
| HIGH | $960 4,800 BRL |
| Per Month |
Transport, Fuel10%
10% of total expenses on average (4% to 15%)
| LOW | $140 720 BRL |
| AVERAGE | $430 2,100 BRL |
| HIGH | $2,300 11,000 BRL |
| Per Month |
Food and Groceries16%
16% of total expenses on average (11% to 21%)
| LOW | $170 830 BRL |
| AVERAGE | $510 2,500 BRL |
| HIGH | $2,700 13,000 BRL |
| Per Month |
Healthcare13%
13% of total expenses on average (7% to 17%)
| LOW | $130 660 BRL |
| AVERAGE | $400 2,000 BRL |
| HIGH | $2,100 10,000 BRL |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (2% to 7%)
| LOW | $72 360 BRL |
| AVERAGE | $220 1,100 BRL |
| HIGH | $1,200 5,700 BRL |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $24 120 BRL |
| AVERAGE | $72 360 BRL |
| HIGH | $380 1,900 BRL |
| Per Month |
Other Expenses20%
20% of total expenses on average (14% to 26%)
| LOW | $200 1,000 BRL |
| AVERAGE | $610 3,000 BRL |
| HIGH | $3,300 16,000 BRL |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Belo Horizonte
Housing27%
27% of total expenses on average (22% to 37%)
| LOW | $540 2,700 BRL |
| AVERAGE | $1,500 7,600 BRL |
| HIGH | $8,500 42,000 BRL |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 8%)
| LOW | $130 670 BRL |
| AVERAGE | $380 1,900 BRL |
| HIGH | $2,100 10,000 BRL |
| Per Month |
Food and Groceries20%
20% of total expenses on average (13% to 26%)
| LOW | $300 1,500 BRL |
| AVERAGE | $870 4,300 BRL |
| HIGH | $4,800 24,000 BRL |
| Per Month |
Healthcare10%
10% of total expenses on average (6% to 15%)
| LOW | $130 670 BRL |
| AVERAGE | $380 1,900 BRL |
| HIGH | $2,100 10,000 BRL |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $84 420 BRL |
| AVERAGE | $240 1,200 BRL |
| HIGH | $1,300 6,600 BRL |
| Per Month |
Education14%
14% of total expenses on average (7% to 22%)
| LOW | $240 1,200 BRL |
| AVERAGE | $670 3,300 BRL |
| HIGH | $3,700 18,000 BRL |
| Per Month |
Other Expenses15%
15% of total expenses on average (8% to 20%)
| LOW | $200 1,000 BRL |
| AVERAGE | $580 2,900 BRL |
| HIGH | $3,200 16,000 BRL |
| Per Month |
StudentCost of living and expenses break down for students living in Belo Horizonte
Housing19%
19% of total expenses on average (14% to 25%)
| LOW | $140 700 BRL |
| AVERAGE | $350 1,800 BRL |
| HIGH | $640 3,200 BRL |
| Per Month |
Utilities, Electricity, Water6%
6% of total expenses on average (4% to 10%)
| LOW | $24 120 BRL |
| AVERAGE | $59 290 BRL |
| HIGH | $110 530 BRL |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (5% to 11%)
| LOW | $41 210 BRL |
| AVERAGE | $100 510 BRL |
| HIGH | $190 920 BRL |
| Per Month |
Food and Groceries22%
22% of total expenses on average (16% to 26%)
| LOW | $120 590 BRL |
| AVERAGE | $300 1,500 BRL |
| HIGH | $530 2,600 BRL |
| Per Month |
Healthcare8%
8% of total expenses on average (5% to 11%)
| LOW | $35 180 BRL |
| AVERAGE | $89 440 BRL |
| HIGH | $160 790 BRL |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $30 150 BRL |
| AVERAGE | $74 370 BRL |
| HIGH | $130 660 BRL |
| Per Month |
Education19%
19% of total expenses on average (12% to 24%)
| LOW | $110 560 BRL |
| AVERAGE | $280 1,400 BRL |
| HIGH | $510 2,500 BRL |
| Per Month |
Other Expenses18%
18% of total expenses on average (12% to 24%)
| LOW | $89 440 BRL |
| AVERAGE | $220 1,100 BRL |
| HIGH | $400 2,000 BRL |
| Per Month |
