Cost Of Living For a Couple in Central African Republic 2024

Average monthly spending for couples in Central African Republic

How much money does a couple need in a month to survive in Central African Republic?

Couples in Central African Republic spend around 500,000 XAF per month on average. Depending on the lifestyle, a couple can survive with a monthly budget as low as 170,000 XAF or as high as 2.6M XAF. Location and income are very important factors and have a huge influence on expenditure and budget.

Couple expenditure to income ratio in Central African Republic

Analysing the how affordable it is for couples to live in Central African Republic

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. Couples usually spend a larger chunk of their income than other population groups. A typical and healthy expenditure percentage for a couple of four ranges between 70% to 80%.

Couples in Central African Republic spend around 81% of their monthly income. Some couples spend as low as 74% of their income while some as high as 89%.

How do couples spend their money in Central African Republic?

We asked thousands of couples about their spending habits and expenditure break down.

Housing and accomodation expenditure for couples

Couples in Central African Republic typically spend from 21% to 38% of their total monthly expenditure on housing with 28% being the average. The average monthly spend on housing is 170,000 XAF with expenditure ranging from 56,000 XAF to 900,000 XAF. This cost mainly goes for rent but it also includes other accommodation-related expenses.

Electricity, utilities, energy, water, internet, and mobile expenditure for couples

Utility expenditure like electricity, water, and gas in Central African Republic ranges from 5% to 11% of total expenses with 7% being the average for most couples. The average monthly cost of utilities is 22,000 XAF with 6,600 XAF and 150,000 XAF being the upper and lower limits for a couple of four.

Transport, fuel, and commute expenditure for couples

Fuel consumption and cost of transport depend heavily on whether a couple resides near school and work, but roughly speaking a couple would expect to spend from 20,000 XAF to 320,000 XAF in a month on commuting with 59,000 XAF being the norm for most couples. This means that money spent on transport constitutes about 10% of total spending on average but can go as low as 4% or as high as 15%.

Food, groceries, and basic shopping expenditure for couples

The average outlay on groceries and basic houshold items for a typical couple in a month in Central African Republic is 69,000 XAF. The cost of groceries can range between 23,000 XAF to 370,000 XAF. Couples spend on average about 16% on food and groceries with upper and lower bounds of 11% and 21% respectively.

Healthcare and medical services expenditure for couples

Couples in Central African Republic allocate 7% to 17% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 13%. The range of medical expenses range from 18,000 XAF to 290,000 XAF with 54,000 XAF being the norm for most couples.

Leisure and shopping expenditure for couples

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 9,900 XAF to 160,000 XAF with 30,000 XAF being the average. Speaking of percentages, that equates to 2% to 7% of total expenses with an average of 4% for most couples.

Education and schooling expenditure for couples

Spending on education can vary drastically between different couples. On average, education constitutes 2% of the monthly expenditure of couples with 1% and 4% being the lower and upper bounds respectively. The average reported education cost is 9,900 XAF per month with 3,300 XAF being the minimum spent amount and 53,000 XAF being the maximum.

What percentage of couples in Central African Republic are able to save money and how much can they save?

Percentage of couples that reported their ability to save money

Almost 55% of surveyed couples in Central African Republic said that they can save some money at the end of each month while 45% reported that they have to utilize their whole income to survive.

How much money do couples manage to add to their savings?

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples that are able to save money can put anywhere from 12% to 32% of their monthly income to their savings, with 21% being the average for most couples. The average monthly amount of money that couples can put aside is 160,000 XAF with 52,000 XAF and 830,000 XAF being the minimum and maximum respectively.

Saving Challenges in Central African Republic

Reasons that make it difficult for couples to save money

We wanted to understand what is stopping couples from maximizing their savings in Central African Republic. Listed below are the answers given by the survey participants.

Around 6% of the couples 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% of couples 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 social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Typical saving choices for couples in Central African Republic

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 Central African Republic

Income and cost of living compatibility

We asked couples one simple question and recorded their answers.

Is it affordable or economical to live in Central African Republic?

Around 51% of surveyed couples think that living in Central African Republic is affordable with proper budgeting while 49% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Central African Republic

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 couples 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 couples living in Central African Republic 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 For Couples

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 couples of Central African Republic whether they have an emergency fund and the answers were as follows.

Yes47%

No53%

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

Financial Literacy in Central African Republic

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 Leteracy46%

We asked couple guardians and parents in Central African Republic whether they acquired any adequate personal financial training in their lives. Approximately 54% 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 46% 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 couples of Central African Republic have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 56% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 44% said that they have everything under control.

Struggles with finance56%

Easily manages finances44%

Financial goals of couples in Central African Republic

In an attempt to understand the economic situation in Central African Republic, 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 7% of couples said that their main goal is to establish an emergency fund to cover unexpected expenses while 38% 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.

Debt, loans, and mortgages in Central African Republic

Percentage of couples who are in debt

According to the survey, 34% of the couples in Central African Republic have some kind of debt, loan, mortgage, or credit card payments while 66% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Central African Republic

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 a couple's monthly income in Central African Republic goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Central African Republic pay 60%+ of their income as debt settlement while 15% 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 Central African Republic

11% of debtors in Central African Republic 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 40%. Lastly, student loans are the main source of debt for 3% of debtors in Central African Republic.

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 Central African Republic

Besides measuring the loan-to-income ratio, we asked couples of Central African Republic 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 Central African Republic

Rent Cost in Central African Republic

Monthly Rent Prices

Studio apartment monthly rent cost

36,000 XAF

54,000 XAF

140,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$60

$90

$240

1-bedroom apartment monthly rent cost

54,000 XAF

87,000 XAF

220,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$90

$140

$360

2-bedroom apartment monthly rent cost

72,000 XAF

110,000 XAF

290,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$120

$180

$480

3-bedroom apartment monthly rent cost

87,000 XAF

140,000 XAF

390,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$140

$240

$650

Furnished apartment monthly rent cost

170,000 XAF

430,000 XAF

870,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$290

$720

$1,400

Townhouse monthly rent cost

140,000 XAF

220,000 XAF

620,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$240

$360

$1,000

House monthly rent cost

170,000 XAF

430,000 XAF

870,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$290

$720

$1,400

Villa monthly rent cost

220,000 XAF

540,000 XAF

870,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$360

$900

$1,400

The monthly rental cost of a studio apartment in Central African Republic ranges between 36,000 XAF and 140,000 XAF, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 54,000 XAF to 220,000 XAF. Two-bedroom rentals rate ranges between 72,000 XAF and 290,000 XAF per month. The monthly rental for a three-bedroom apartment ranges from 87,000 XAF to 390,000 XAF. The average rent of a townhouse in Central African Republic is around 220,000 XAF while house rental costs can be as high as 430,000 XAF per month. Finally, if you want to rent a villa, expect to pay anywhere from 220,000 XAF to 870,000 XAF per month.

Apartment and house prices in Central African Republic

Cost of buying a property

Studio apartment price

7.2M XAF

11M XAF

22M XAF

MINIMUM

AVERAGE

MAXIMUM

$12,000

$18,000

$36,000

1-bedroom apartment price

8.7M XAF

14M XAF

54M XAF

MINIMUM

AVERAGE

MAXIMUM

$14,000

$24,000

$90,000

2-bedroom apartment price

14M XAF

43M XAF

87M XAF

MINIMUM

AVERAGE

MAXIMUM

$24,000

$72,000

$140,000

3-bedroom apartment price

48M XAF

72M XAF

220M XAF

MINIMUM

AVERAGE

MAXIMUM

$80,000

$120,000

$360,000

Townhouse price

62M XAF

140M XAF

540M XAF

MINIMUM

AVERAGE

MAXIMUM

$100,000

$240,000

$900,000

House price

72M XAF

430M XAF

620M XAF

MINIMUM

AVERAGE

MAXIMUM

$120,000

$720,000

$1M

Villa price

87M XAF

480M XAF

720M XAF

MINIMUM

AVERAGE

MAXIMUM

$140,000

$800,000

$1.2M

The average price of a studio apartment in Central African Republic can range from 7.2M XAF to 22M XAF depending on location. One bedroom cost can be anywhere from 8.7M XAF to 54M XAF. A villa can cost you 480M XAF on average with prices ranging from 87M XAF to 720M XAF.

House / apartment prices to income ratio

Property prices in Central African Republic can be x101 to x201 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x101 multiples of the average monthly salary in Central African Republic.

Rent to income ratio

The average rent-to-income ratio in Central African Republic is around 30%. This means that people pay 30% of their income for rent. Those figures can range from 20% to 40% 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 Central African Republic

Energy, electricity, water, gas, internet, and mobile cost in Central African Republic

Utility Bill Cost / Electricity + Water + Gas / Couple

6,600 XAF

22,000 XAF

150,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$11

$37

$240

Internet and cable cost

2,200 XAF

4,300 XAF

5,800 XAF

MINIMUM

AVERAGE

MAXIMUM

$3.6

$7.2

$9.6

Mobile phone bill and charges

1,700 XAF

2,900 XAF

8,700 XAF

MINIMUM

AVERAGE

MAXIMUM

$2.9

$4.8

$14

The average monthly energy and water consumption of couples is around 22,000 XAF. The cost of internet and WiFi ranges from 2,200 XAF to 5,800 XAF with 4,300 XAF being the average internet bill. Finally, the average monthly mobile charges is around 2,900 XAF but can range between 1,700 XAF and 8,700 XAF 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 Central African Republic is around 6%. This means that people pay 6% of their income for energy, water, internet, and mobile charges. Those figures can range from 3% to 10% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Central African Republic

Prices and cost of goods and services in Central African Republic

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

Fast food combo meal price

430 XAF

870 XAF

1,400 XAF

MINIMUM

AVERAGE

MAXIMUM

$0.72

$1.4

$2.4

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Central African Republic is approximatly 870 XAF with meal cost ranging from 430 XAF to 1,400 XAF. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

1,400 XAF

2,200 XAF

4,300 XAF

MINIMUM

AVERAGE

MAXIMUM

$2.4

$3.6

$7.2

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 1,400 XAF and 4,300 XAF with 2,200 XAF being the average price of a plate for one person at a regular restaurant in Central African Republic.

Fine dining meal for one price

2,900 XAF

4,300 XAF

17,000 XAF

MINIMUM

AVERAGE

MAXIMUM

$4.8

$7.2

$29

The price range of a meal at fine-dining restaurant is 2,900 XAF to 17,000 XAF with the average cost being 4,300 XAF for one person. This is what you would expect to pay a top-tier diner in Central African Republic.

Beverage prices, cappuccino, latte etc..

360 XAF

580 XAF

870 XAF

MINIMUM

AVERAGE

MAXIMUM

$0.60

$0.96

$1.4

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Central African Republic is around 580 XAF. Price ranges between 360 XAF and 870 XAF depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

290 XAF

350 XAF

430 XAF

MINIMUM

AVERAGE

MAXIMUM

$0.48

$0.57

$0.72

The average price of a large bottle of milk in Central African Republic is 350 XAF. The maximum what you would pay for milk is 430 XAF and the minimum being 290 XAF depending on the brand of milk and other properties.

12 eggs price

220 XAF

290 XAF

430 XAF

MINIMUM

AVERAGE

MAXIMUM

$0.36

$0.48

$0.72

A dozen eggs costs around 290 XAF on average with 220 XAF and 430 XAF being the lower and upper limits respectively.

Fresh whole chicken price

490 XAF

640 XAF

900 XAF

MINIMUM

AVERAGE

MAXIMUM

$0.82

$1.1

$1.5

The price range of a fresh whole chicken in Central African Republic is between 490 XAF and 900 XAF depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 640 XAF.

Pack of beef price

580 XAF

870 XAF

1,700 XAF

MINIMUM

AVERAGE

MAXIMUM

$0.96

$1.4

$2.9

The price of a regular pack of beef or meat is around 870 XAF. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

230 XAF

320 XAF

450 XAF

MINIMUM

AVERAGE

MAXIMUM

$0.39

$0.53

$0.75

A bag of rice in Central African Republic costs around 320 XAF on average with prices rangeing between 230 XAF and 450 XAF depending on the brand and quality.

Bag of tomatos price

87 XAF

120 XAF

220 XAF

MINIMUM

AVERAGE

MAXIMUM

$0.14

$0.19

$0.36

A bag of tomatoes costs anywhere from 87 XAF to 220 XAF. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

160 XAF

200 XAF

330 XAF

MINIMUM

AVERAGE

MAXIMUM

$0.26

$0.34

$0.55

A bag of apples costs 200 XAF 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 Central African Republic is around 26%. This means that couples spend 26% of their income on grocery and basic household items. The expenditure can range from 18% to 32% depending on salary and location.

Expenditure on food and grocery for couples