Cost Of Living in Camaguey 2025

Average monthly spending for singles, couples, students, and families in Camaguey

Whether you're living in Camaguey 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.

Singles

The average monthly expense for a single person living in Camaguey is 14,000 CUP. Expenses can range from 2,000 CUP at the minimum level to 93,000 CUP at the highest end.

Couples

The average monthly spending of couples in Camaguey is 23,000 CUP. Expenditure can range from 7,700 CUP to 120,000 CUP per month.

Families

The average cost of living for families in Camaguey is 31,000 CUP per month. Families spend anywhere from 11,000 CUP to 200,000 CUP.

Students

The average monthly expenditure for students in Camaguey is 10,000 CUP. Students spend from 1,500 CUP to 68,000 CUP per month.

Expenditure to Income Ratio in Camaguey

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.

Expense to income distribution levels

Interpretation and Analysis

The average spending-to-salary ratio in Camaguey is 80% This means that on average, people spend around 80% of their income for living. According to the distribution table, 15% of the population spend approximately 60% to 70% of their income every month.

Individual
72%
Spending-Income-Ratio

---

66%

79%

Couple
76%
Spending-Income-Ratio

---

69%

84%

Family
84%
Spending-Income-Ratio

---

77%

92%

How do people spend their money in Camaguey?

We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.

People living in Camaguey typically spend from 12% to 31% of their total monthly expenditure on housing with 23% being the average. The average spend on housing is 6,000 CUP with expenditure ranging from 460 CUP to 60,000 CUP. 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.

Utility expenditure like electricity, water, and gas in Camaguey ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 1,000 CUP with 77 CUP and 10,000 CUP being the upper and lower limits.

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 150 CUP to 20,000 CUP on commuting with 2,000 CUP being the norm for most people in one month. This means that money spent on transport constitutes about 7% of total spending on average but can go as low as 3% or as high as 11%.

The average outlay on groceries in a month in Camaguey is 5,000 CUP. The cost of groceries can range between 390 CUP to 50,000 CUP. People spend on average about 28% on food and groceries with upper and lower bounds of 20% and 34% respectively.

People in Camaguey allocate 5% to 13% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 10%. The range of medical expenses range from 110 CUP to 14,000 CUP with 1,400 CUP being the norm.

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 62 CUP to 8,000 CUP with 800 CUP being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.

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 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 1,200 CUP per month with 93 CUP being the minimum spent amount and 12,000 CUP being the maximum.

How much money can you save in Camaguey 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 Camaguey manage to save money from their income every month?

Almost 56% of the surveyed people in Camaguey said that they can save some money at the end of each month while 44% said that aren't saving anything.

Percentage of people saving money by population group in Camaguey

Saving to Income Ratio

Average Monthly Saved Amount

For most people, 8.4% to 27% of their monthly income is what they can allocate to their savings, with 15% being the average. The amount of money that people can save is approximately 6,700 CUP on average with savings ranging from 510 CUP to 67,000 CUP.

58% of surveyed singles reported some of their income going to savings while 54% of couples said the same. 49% of families confirmed their ability to save money.

How much money do people actually save in Camaguey?

Singles

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for singles

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 11% to 29% of their monthly income to savings, with 19% being the average for most singles. The average amount of money that singles are able to save is 4,600 CUP with 510 CUP and 31,000 CUP being the minimum and maximum respectively.

Couples

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 9.4% to 28% of their monthly income, with 17% being the average for most couples. The average amount of money that couples can save is 7,700 CUP with 2,600 CUP and 41,000 CUP being the minimum and maximum respectively.

Families

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for families

Interpretation and Analysis

Families in Camaguey can save anywhere between 8.4% to 25% of their monthly income, with 15% being the average for most families. The average amount of money that families can put aside is 10,000 CUP with 3,600 CUP and 67,000 CUP being the minimum and maximum respectively.

Saving Challenges in Camaguey

Reasons that make it difficult for people to save money

We wanted to understand what is stopping people from maximizing their savings in Camaguey. Listed below are the answers given by the survey participants.

Around 5% of the people said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 13% of the residents said that they are burdened with debt and find it challenging to save money. 12% 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. 12% blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 5% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 21% 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. 13% 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 social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Typical saving choices for people in Camaguey

Where do people choose to put their savings?

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

Affordable living in Camaguey

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Camaguey?

Around 54% of surveyed residents think that living in Camaguey is affordable with proper budgeting while 46% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Camaguey

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 options53%

Few low-cost options47%

Based on the survey, 53% of the people living in Camaguey have no problem finding low-cost alternatives to support a frugal lifestyle while 47% 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 Camaguey whether they have an emergency fund and the answers were as follows.

Yes53%

No47%

Based on the survey, 47% of the people living in Camaguey said that they don't have an emergency fund while 53% said that they do.

Financial Literacy in Cuba

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 Leteracy53%

We asked residents of Cuba whether they acquired any adequate personal financial training in their lives. Approximately 47% 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 53% 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 Cuba have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 41% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 59% said that they have everything under control.

Struggles with finance41%

Easily manages finances59%

Financial goals of people in Camaguey

In an attempt to understand the economic situation in Camaguey, 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.

Around 8% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 43% said their number one priority is to pay off high-interest debt or loans and improve credit. 10% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 6% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 7% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 14% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Retirement, pension plans, and life after work in Camaguey

What does the retirement lifestyle look like in Camaguey and how much retirement savings are required?

Retirement age

The retirement age for most employees in Cuba 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.

Retirement Income Distribution

We asked residents of Camaguey about their retirement income sources and below are the results.

Retirement Monthly Expenses in Camaguey

Debt, loans, and mortgages in Camaguey

Percentage of people who are in debt

According to the survey, 26% of the people in Camaguey have some kind of debt, loan, mortgage, or credit card payments while 74% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Camaguey

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 29% of the people's monthly income in Camaguey goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Camaguey pay 60%+ of their income as debt settlement while 18% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 15% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 17% dedicated 30% to 40% of income for same. Things are looking brighter for 10% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Camaguey

8% of debtors in Camaguey confirm that real estate mortgages constitutes the main part of their outstanding debt while 30% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 15% of people and personal loans rose at 43%. Lastly, student loans are the main source of debt for 4% of debtors in Camaguey.

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 Camaguey

Besides measuring the loan-to-income ratio, we asked residents of Camaguey 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.

Housing costs, accommodation, and housing affordability in Camaguey

Rent Cost in Camaguey

Monthly Rent Prices

Studio apartment monthly rent cost

1,700 CUP

2,600 CUP

6,900 CUP

MINIMUM

AVERAGE

MAXIMUM

$72

$110

$290

1-bedroom apartment monthly rent cost

2,600 CUP

4,100 CUP

10,000 CUP

MINIMUM

AVERAGE

MAXIMUM

$110

$170

$430

2-bedroom apartment monthly rent cost

3,400 CUP

5,100 CUP

14,000 CUP

MINIMUM

AVERAGE

MAXIMUM

$140

$210

$570

3-bedroom apartment monthly rent cost

4,100 CUP

6,900 CUP

19,000 CUP

MINIMUM

AVERAGE

MAXIMUM

$170

$290

$780

Furnished apartment monthly rent cost

8,200 CUP

21,000 CUP

41,000 CUP

MINIMUM

AVERAGE

MAXIMUM

$340

$860

$1,700

Townhouse monthly rent cost

6,900 CUP

10,000 CUP

29,000 CUP

MINIMUM

AVERAGE

MAXIMUM

$290

$430

$1,200

House monthly rent cost

8,200 CUP

21,000 CUP

41,000 CUP

MINIMUM

AVERAGE

MAXIMUM

$340

$860

$1,700

Villa monthly rent cost

10,000 CUP

26,000 CUP

41,000 CUP

MINIMUM

AVERAGE

MAXIMUM

$430

$1,100

$1,700

The monthly rental cost of a studio apartment in Camaguey ranges between 1,700 CUP and 6,900 CUP, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 2,600 CUP to 10,000 CUP. Two-bedroom rentals rate ranges between 3,400 CUP and 14,000 CUP per month. The monthly rental for a three-bedroom apartment ranges from 4,100 CUP to 19,000 CUP. The average rent of a townhouse in Camaguey is around 10,000 CUP while house rental costs can be as high as 21,000 CUP per month. Finally, if you want to rent a villa, expect to pay anywhere from 10,000 CUP to 41,000 CUP per month.

Apartment and house prices in Camaguey

Cost of buying a property

Studio apartment price

340,000 CUP

510,000 CUP

1M CUP

MINIMUM

AVERAGE

MAXIMUM

$14,000

$21,000

$43,000

1-bedroom apartment price

410,000 CUP

690,000 CUP

2.6M CUP

MINIMUM

AVERAGE

MAXIMUM

$17,000

$29,000

$110,000

2-bedroom apartment price

690,000 CUP

2.1M CUP

4.1M CUP

MINIMUM

AVERAGE

MAXIMUM

$29,000

$86,000

$170,000

3-bedroom apartment price

2.3M CUP

3.4M CUP

10M CUP

MINIMUM

AVERAGE

MAXIMUM

$95,000

$140,000

$430,000

Townhouse price

2.9M CUP

6.9M CUP

26M CUP

MINIMUM

AVERAGE

MAXIMUM

$120,000

$290,000

$1.1M

House price

3.4M CUP

21M CUP

29M CUP

MINIMUM

AVERAGE

MAXIMUM

$140,000

$860,000

$1.2M

Villa price

4.1M CUP

23M CUP

34M CUP

MINIMUM

AVERAGE

MAXIMUM

$170,000

$950,000

$1.4M

The average price of a studio apartment in Camaguey can range from 340,000 CUP to 1M CUP depending on location. One bedroom cost can be anywhere from 410,000 CUP to 2.6M CUP. A villa can cost you 23M CUP on average with prices ranging from 4.1M CUP to 34M CUP.

House / apartment prices to income ratio

Property prices in Camaguey can be x92 to x186 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x92 multiples of the average monthly salary in Camaguey.

Rent to income ratio

The average rent-to-income ratio in Camaguey is around 28%. This means that people pay 28% of their income for rent. Those figures can range from 19% to 37% depending on the salary, location, and type of property.

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.

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.

Monthly costs and expenses of energy and basic utilities in Camaguey

Energy, electricity, water, gas, internet, and mobile cost in Camaguey

Utility Bill Cost / Electricity + Water + Gas / Individual

120 CUP

840 CUP

5,600 CUP

MINIMUM

AVERAGE

MAXIMUM

$4.9

$35

$230

Utility Bill Cost / Electricity + Water + Gas / Couple

310 CUP

1,000 CUP

6,800 CUP

MINIMUM

AVERAGE

MAXIMUM

$13

$44

$280

Utility Bill Cost / Electricity + Water + Gas / Family

540 CUP

1,500 CUP

10,000 CUP

MINIMUM

AVERAGE

MAXIMUM

$23

$65

$420

Internet and cable cost

110 CUP

220 CUP

290 CUP

MINIMUM

AVERAGE

MAXIMUM

$4.5

$9

$12

Mobile phone bill and charges

87 CUP

140 CUP

430 CUP

MINIMUM

AVERAGE

MAXIMUM

$3.6

$6

$18

The average monthly expenditure for individuals on electricty, water, and gas in Camaguey ranges between 120 CUP and 5,600 CUP with average being 840 CUP, meanwhile the expenditure of couples is slightly higher at 1,000 CUP with 310 CUP and 6,800 CUP being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 1,500 CUP. The cost of internet and WiFi is unchanged among the three groups and ranges from 110 CUP to 290 CUP with 220 CUP being the average internet bill. Finally, the average monthly mobile charges is around 140 CUP but can range between 87 CUP and 430 CUP depending on consumption. Mobile charges include both calling minutes as well as data packages.

Energy / Utility expense to income ratio

The average utility-to-income ratio in Camaguey is around 5.6%. This means that people pay 5.6% of their income for energy, water, internet, and mobile charges. Those figures can range from 2.8% to 9.4% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Camaguey

Prices and cost of goods and services in Camaguey

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

22 CUP

43 CUP

72 CUP

MINIMUM

AVERAGE

MAXIMUM

$0.90

$1.8

$3

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Camaguey is approximatly 43 CUP with meal cost ranging from 22 CUP to 72 CUP. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

70 CUP

110 CUP

210 CUP

MINIMUM

AVERAGE

MAXIMUM

$2.9

$4.4

$8.8

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 70 CUP and 210 CUP with 110 CUP being the average price of a plate for one person at a regular restaurant in Camaguey.

Fine dining meal for one price

140 CUP

210 CUP

850 CUP

MINIMUM

AVERAGE

MAXIMUM

$5.9

$8.8

$35

The price range of a meal at fine-dining restaurant is 140 CUP to 850 CUP with the average cost being 210 CUP for one person. This is what you would expect to pay a top-tier diner in Camaguey.

Beverage prices, cappuccino, latte etc..

18 CUP

29 CUP

43 CUP

MINIMUM

AVERAGE

MAXIMUM

$0.75

$1.2

$1.8

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Camaguey is around 29 CUP. Price ranges between 18 CUP and 43 CUP depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

14 CUP

17 CUP

22 CUP

MINIMUM

AVERAGE

MAXIMUM

$0.60

$0.72

$0.90

The average price of a large bottle of milk in Camaguey is 17 CUP. The maximum what you would pay for milk is 22 CUP and the minimum being 14 CUP depending on the brand of milk and other properties.

12 eggs price

11 CUP

14 CUP

22 CUP

MINIMUM

AVERAGE

MAXIMUM

$0.45

$0.60

$0.90

A dozen eggs costs around 14 CUP on average with 11 CUP and 22 CUP being the lower and upper limits respectively.

Fresh whole chicken price

25 CUP

32 CUP

45 CUP

MINIMUM

AVERAGE

MAXIMUM

$1

$1.3

$1.9

The price range of a fresh whole chicken in Camaguey is between 25 CUP and 45 CUP depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 32 CUP.

Pack of beef price

29 CUP

43 CUP

87 CUP

MINIMUM

AVERAGE

MAXIMUM

$1.2

$1.8

$3.6

The price of a regular pack of beef or meat is around 43 CUP. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

12 CUP

16 CUP

23 CUP

MINIMUM

AVERAGE

MAXIMUM

$0.49

$0.67

$0.94

A bag of rice in Camaguey costs around 16 CUP on average with prices rangeing between 12 CUP and 23 CUP depending on the brand and quality.

Bag of tomatos price

4.3 CUP

5.8 CUP

11 CUP

MINIMUM

AVERAGE

MAXIMUM

$0.18

$0.24

$0.45

A bag of tomatoes costs anywhere from 4.3 CUP to 11 CUP. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

7.7 CUP

10 CUP

17 CUP

MINIMUM

AVERAGE

MAXIMUM

$0.32

$0.42

$0.70

A bag of apples costs 10 CUP on average. A bag of apples denotes 1Kg or 1lb depending on location.

Grocery and food expenditure to income ratio

The average grocery-to-income ratio in Camaguey is around 25%. This means that people spend 25% of their income on grocery and basic household items. The expenditure can range from 18% to 31% depending on salary and location.

Expenditure on food and grocery for every population group

A single person living alone spends approximately 2,200 CUP per month on grocery and food with expenditure fluctuating between 310 CUP and 15,000 CUP depending on location and the type of person. The average cost of food and groceries for a couple is around 3,200 CUP per month. That number can be get as low as 1,100 CUP or a high as 17,000 CUP. Families' spending on grocery ranges from 1,900 CUP to 36,000 CUP with the location, income, and size of the family being the most determinite factors.

SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Camaguey

CoupleAverage monthly living expenditure breaks and spending patterns for couples in Camaguey

FamilyAverage monthly expenses and break out of spending for families living in Camaguey

StudentCost of living and expenses break down for students living in Camaguey