Cost Of Living in Da Nang 2024
Average monthly spending for singles, couples, students, and families in Da Nang
Whether you're living in Da Nang 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 Expenditure30M VND
per month$1,2002.3M VND $94
$12,000 300M VND
Single21M VND
per month$8507M VND $280
$5,700 140M VND
Couple35M VND
per month$1,40012M VND $470
$7,500 190M VND
Family47M VND
per month$1,90016M VND $660
$10,000 260M VND
Student14M VND
per month$5605.5M VND $220
$1,000 25M VND
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Da Nang is 21M VND. Expenses can range from 7M VND at the minimum level to 140M VND at the highest end.
Couples
The average monthly spending of couples in Da Nang is 35M VND. Expenditure can range from 12M VND to 190M VND per month.
Families
The average cost of living for families in Da Nang is 47M VND per month. Families spend anywhere from 16M VND to 260M VND.
Students
The average monthly expenditure for students in Da Nang is 14M VND. Students spend from 5.5M VND to 25M VND 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 Da Nang
Dining, food, and beverages costs
Large bottle of water | 3,700 VND | 4,200 VND | 4,800 VND |
Fast food combo meal | 31,000 VND | 63,000 VND | 100,000 VND |
Restaurant meal for one | 100,000 VND | 160,000 VND | 310,000 VND |
Fine dining meal for one | 210,000 VND | 310,000 VND | 1.2M VND |
Soda or Soft Drink | 4,500 VND | 5,200 VND | 6,300 VND |
Cappuccino or latte | 26,000 VND | 42,000 VND | 63,000 VND |
Grocery and market costs
Milk large bottle | 21,000 VND | 25,000 VND | 31,000 VND |
Loaf of bread | 3,800 VND | 4,300 VND | 5,000 VND |
12 eggs | 16,000 VND | 21,000 VND | 31,000 VND |
Fresh whole chicken | 36,000 VND | 46,000 VND | 65,000 VND |
Beef 1 kg or 1 lb | 42,000 VND | 63,000 VND | 130,000 VND |
Rice 1 kg or 1 lb | 17,000 VND | 23,000 VND | 33,000 VND |
Tomato 1 kg or 1 lb | 6,300 VND | 8,400 VND | 16,000 VND |
Apples 1 kg or 1 lb | 11,000 VND | 15,000 VND | 24,000 VND |
Commute, travel, and transportation costs
20 minutes taxi ride | 26,000 VND | 31,000 VND | 62,000 VND |
Average car full tank | 160,000 VND | 210,000 VND | 420,000 VND |
Average car 1-day rental | 150,000 VND | 210,000 VND | 310,000 VND |
Average car price | 78M VND | 160M VND | 210M VND |
Bus ticket one way | 5,100 VND | 7,700 VND | 15,000 VND |
Car Service | 210,000 VND | 310,000 VND | 620,000 VND |
Utility cost (monthly)
Utility Bill - Individual | 420,000 VND | 1.3M VND | 8.4M VND |
Utility Bill - Couple | 580,000 VND | 1.8M VND | 9.4M VND |
Utility Bill - Family | 490,000 VND | 1.4M VND | 7.7M VND |
Internet and cable | 160,000 VND | 310,000 VND | 420,000 VND |
Mobile phone charges | 130,000 VND | 210,000 VND | 630,000 VND |
Leisure and activities costs
Movie ticket | 78,000 VND | 100,000 VND | 160,000 VND |
One month gym membership | 250,000 VND | 310,000 VND | 620,000 VND |
Cloths and accessories costs
Pair of jeans or pants | 180,000 VND | 260,000 VND | 380,000 VND |
Woman dress | 170,000 VND | 240,000 VND | 770,000 VND |
Woman shoes | 160,000 VND | 220,000 VND | 510,000 VND |
Men's shoes | 140,000 VND | 170,000 VND | 340,000 VND |
Men suit | 150,000 VND | 190,000 VND | 1M VND |
Regular t-shirt | 77,000 VND | 100,000 VND | 310,000 VND |
Housing costs / monthly rent
Studio apartment | 2.6M VND | 3.8M VND | 10M VND |
1-bedroom apartment | 3.8M VND | 6.2M VND | 15M VND |
2-bedroom apartment | 5.1M VND | 7.7M VND | 21M VND |
Housing costs / Buying
Studio apartment | 510M VND | 770M VND | 1,500M VND |
1-bedroom apartment | 620M VND | 1,000M VND | 3,800M VND |
2-bedroom apartment | 1,000M VND | 3,100M VND | 6,200M VND |
| $41,000 | $120,000 | $250,000 |
Furniture Costs
King Size Bed | 3.1M VND | 3.9M VND | 5.2M VND |
Double Bed | 2.1M VND | 3.1M VND | 3.9M VND |
Single Bed | 1.8M VND | 2.4M VND | 3.1M VND |
Living Room | 3.5M VND | 4.5M VND | 16M VND |
Dining Table | 1.6M VND | 2.1M VND | 3.9M VND |
Sofa or Couch | 2.1M VND | 2.9M VND | 6.3M VND |
Electronics and House Appliance Costs
TV Set | 2.1M VND | 3.1M VND | 6.3M VND |
Fridge or Freezer | 1.8M VND | 2.9M VND | 3.9M VND |
Washing Machine | 2.4M VND | 3.5M VND | 6.3M VND |
Stove or Cooker | 2.2M VND | 2.9M VND | 3.9M VND |
Mobile Phone | 2.6M VND | 3.1M VND | 4.5M VND |
Laptop or Computer | 2.9M VND | 3.5M VND | 6.3M VND |
Expenditure to Income Ratio in Da Nang
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
89%
82% to 97%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 4% |
| 50% - 60% | 9% |
| 60% - 70% | 16% |
| 70% - 80% | 25% |
| 80% - 90% | 19% |
| 90% - 100% | 11% |
| 100% - 110% | 6% |
| 110% - 120% | 4% |
| 120% - 130% | 3% |
| 130% - 140% | 2% |
| > 140% | 2% |
Interpretation and Analysis
The average spending-to-salary ratio in Da Nang is 89%
This means that on average, people spend around 89% of their income for living.
According to the distribution table, 16% 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
80%
Spending-Income-Ratio
74%
88%
Couple
85%
Spending-Income-Ratio
78%
93%
Family
94%
Spending-Income-Ratio
86%
100%
How do people spend their money in Da Nang?
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 Expenditure24%
24% of total expenses on average (13% to 32%)
| LOW | $28 700,000 VND |
| AVERAGE | $370 9.1M VND |
| HIGH | $3,700 91M VND |
| Per Month |
People living in Da Nang typically spend from 13% to 32% of their total monthly expenditure on housing with 24% being the average. The average spend on housing is 9.1M VND with expenditure ranging from 700,000 VND to 91M VND. 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 | $4.7 120,000 VND |
| AVERAGE | $61 1.5M VND |
| HIGH | $610 15M VND |
| Per Month |
Utility expenditure like electricity, water, and gas in Da Nang ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 1.5M VND with 120,000 VND and 15M VND being the upper and lower limits.
Transport, Fuel, Commute7%
7% of total expenses on average (3% to 11%)
| LOW | $9.4 230,000 VND |
| AVERAGE | $120 3M VND |
| HIGH | $1,200 30M VND |
| 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 230,000 VND to 30M VND on commuting with 3M VND 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%.
Food and Groceries Cost28%
28% of total expenses on average (20% to 34%)
| LOW | $24 580,000 VND |
| AVERAGE | $310 7.6M VND |
| HIGH | $3,100 76M VND |
| Per Month |
The average outlay on groceries in a month in Da Nang is 7.6M VND. The cost of groceries can range between 580,000 VND to 76M VND. People spend on average about 28% on food and groceries with upper and lower bounds of 20% and 34% respectively.
Healthcare and Medical Services10%
10% of total expenses on average (5% to 13%)
| LOW | $6.6 160,000 VND |
| AVERAGE | $86 2.1M VND |
| HIGH | $860 21M VND |
| Per Month |
People in Da Nang 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 160,000 VND to 21M VND with 2.1M VND being the norm.
Leisure and Shopping5%
5% of total expenses on average (2% to 9%)
| LOW | $3.8 94,000 VND |
| AVERAGE | $49 1.2M VND |
| HIGH | $490 12M VND |
| 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 94,000 VND to 12M VND with 1.2M VND being the average. Speaking of percentages, that equates to 2% to 9% of total expenses with an average of 5% for most residents.
Education and Schooling5%
5% of total expenses on average (3% to 11%)
| LOW | $5.7 140,000 VND |
| AVERAGE | $74 1.8M VND |
| HIGH | $740 18M VND |
| 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 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 1.8M VND per month with 140,000 VND being the minimum spent amount and 18M VND being the maximum.
Other Expenses14%
14% of total expenses on average (9% to 21%)
| LOW | $12 300,000 VND |
| AVERAGE | $160 4M VND |
| HIGH | $1,600 40M VND |
| Per Month |
How much money can you save in Da Nang 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 Da Nang manage to save money from their income every month?
Almost 51% of the surveyed people in Da Nang said that they can save some money at the end of each month while 49% said that aren't saving anything.
Percentage of people saving money by population group in Da Nang
| Group | Savers | Non Savers |
|---|
| Singles | 61% | 39% |
| Couples | 56% | 44% |
| Families | 51% | 49% |
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
740,000 VND
$30 | 9.6M VND
$390 | 96M VND
$3,900 |
For most people, 8.2% to 29% 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 9.6M VND on average with savings ranging from 740,000 VND to 96M VND.
61% of surveyed singles reported some of their income going to savings while 56% of couples said the same. 51% of families confirmed their ability to save money.
How much money do people actually save in Da Nang?
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
2.2M VND
$89 | 6.6M VND
$270 | 44M VND
$1,800 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 31% |
| 10% - 20% | 25% |
| 20% - 30% | 16% |
| 30% - 40% | 14% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 11% to 31% of their monthly income to savings, with 20% being the average for most singles. The average amount of money that singles are able to save is 6.6M VND with 2.2M VND and 44M VND being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
3.7M VND
$150 | 11M VND
$440 | 59M VND
$2,400 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 35% |
| 10% - 20% | 27% |
| 20% - 30% | 19% |
| 30% - 40% | 9% |
| 40% - 50% | 7% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 9.2% to 30% of their monthly income, with 17% being the average for most couples. The average amount of money that couples can save is 11M VND with 3.7M VND and 59M VND being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
5.1M VND
$210 | 15M VND
$590 | 81M VND
$3,300 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 38% |
| 10% - 20% | 30% |
| 20% - 30% | 20% |
| 30% - 40% | 6% |
| 40% - 50% | 4% |
| > 50% | 2% |
Interpretation and Analysis
Families in Da Nang can save anywhere between 8.2% to 28% of their monthly income, with 14% being the average for most families. The average amount of money that families can put aside is 15M VND with 5.1M VND and 81M VND 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 Da Nang
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Da Nang?
Around 51% of surveyed residents think that living in Da Nang 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 Da Nang
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 options54%
Few low-cost options46%
Based on the survey, 54% of the people living in Da Nang have no problem finding low-cost alternatives to support a frugal lifestyle while 46% 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 Da Nang whether they have an emergency fund and the answers were as follows.
Yes46%
No54%
Based on the survey, 54% of the people living in Da Nang said that they don't have an emergency fund while 46% said that they do.
Financial Literacy in Vietnam
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 Leteracy45%
We asked residents of Vietnam whether they acquired any adequate personal financial training in their lives. Approximately 55% 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 45% 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 Vietnam have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 60% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 40% said that they have everything under control.
Struggles with finance60%
Easily manages finances40%
Financial goals of people in Da Nang
In an attempt to understand the economic situation in Da Nang, 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 | 8% |
| Debt Reduction | 41% |
| Retirement Savings | 10% |
| Education Funding | 7% |
| Homeownership | 18% |
| Investing | 7% |
| Travel or Lifestyle | 7% |
| Healthcare Expenses | 13% |
| Financial Independence | 6% |
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 41% 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. 7% 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 13% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Saving Challenges in Da Nang
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Da Nang. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 5% |
| High Expenses | 8% |
| Debt and Loans | 14% |
| Lack of Budgeting Skills | 11% |
| Impulsive Spending | 11% |
| Financial Emergencies | 7% |
| Living the moment | 6% |
| Will do it later | 20% |
| Inflation | 13% |
| Social Pressure | 3% |
| Market Instability | 2% |
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. 14% 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. 11% 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. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 20% 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 societal expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.
Typical saving choices for people in Da Nang
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 12% |
| Gold | 12% |
| Savings Accounts | 17% |
| Retirement Accounts | 10% |
| Cash Savings | 20% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 4% |
| Bonds | 5% |
| Mutual Funds | 2% |
| Certificates of Deposit | 3% |
Retirement, pension plans, and life after work in Da Nang
What does the retirement lifestyle look like in Da Nang and how much retirement savings are required?
Retirement age
The retirement age for most employees in Vietnam 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 Da Nang:| Age | Amount |
|---|
| 25 | 80M VND |
| 30 | 160M VND |
| 35 | 280M VND |
| 40 | 400M VND |
| 45 | 600M VND |
| 50 | 840M VND |
| 55 | 1,000M VND |
| 60 | 1,200M VND |
| 65 | 1,500M VND |
Retirement Income Distribution
We asked residents of Da Nang about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 12% |
| Savings | 23% |
| Investments | 12% |
| Social Security | 7% |
| Annuities | 7% |
| Part-time Job | 14% |
| Real Estate | 18% |
| Dividends and Interest | 7% |
Retirement Monthly Expenses in Da Nang 5.2M VND
$210 | 16M VND
$630 | 100M VND
$4,200 |
Debt, loans, and mortgages in Da Nang
Percentage of people who are in debt
According to the survey, 37% of the people in Da Nang have some kind of debt, loan, mortgage, or credit card payments while 63% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Da Nang
Debt to income ratio
33%
25% to 41%
( 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 33% of the people's monthly income in Da Nang goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 17% |
| 40% - 50% | 14% |
| 30% - 40% | 16% |
| 20% - 30% | 11% |
| 10% - 20% | 13% |
| 0% - 10% | 26% |
According to our data, 3% of the debtors in Da Nang pay 60%+ of their income as debt settlement while 17% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 14% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 16% dedicated 30% to 40% of income for same. Things are looking brighter for 11% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Da Nang
| Debt | % People |
|---|
| Real Estate Mortgage | 9% |
| Auto Loan | 17% |
| Student Loan | 4% |
| Credit Card | 29% |
| Personal Loan | 42% |
9% of debtors in Da Nang confirm that real estate mortgages constitutes the main part of their outstanding debt while 29% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 17% of people and personal loans rose at 42%. Lastly, student loans are the main source of debt for 4% of debtors in Da Nang.
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 Da Nang
Besides measuring the loan-to-income ratio, we asked residents of Da Nang 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 | 51% |
| Once a year | 24% |
| Twice a year | 12% |
| Three times a year | 9% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Da Nang
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Da Nang
Monthly Rent Prices
Studio apartment | 2.6M VND | 3.8M VND | 10M VND |
1-bedroom apartment | 3.8M VND | 6.2M VND | 15M VND |
2-bedroom apartment | 5.1M VND | 7.7M VND | 21M VND |
3-bedroom apartment
Furnished apartment
Townhouse
House
Villa The monthly rental cost of a studio apartment in Da Nang ranges between 2.6M VND and 10M VND, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 3.8M VND to 15M VND. Two-bedroom rentals rate ranges between 5.1M VND and 21M VND per month. The monthly rental for a three-bedroom apartment ranges from 6.2M VND to 28M VND. The average rent of a townhouse in Da Nang is around 15M VND while house rental costs can be as high as 31M VND per month. Finally, if you want to rent a villa, expect to pay anywhere from 15M VND to 62M VND per month.
Apartment and house prices in Da Nang
Cost of buying a property
Studio apartment | 510M VND | 770M VND | 1,500M VND |
1-bedroom apartment | 620M VND | 1,000M VND | 3,800M VND |
2-bedroom apartment | 1,000M VND | 3,100M VND | 6,200M VND |
| $41,000 | $120,000 | $250,000 |
3-bedroom apartment | 3,400M VND | 5,100M VND | 15,000M VND |
| $140,000 | $210,000 | $620,000 |
Townhouse | 4,400M VND | 10,000M VND | 38,000M VND |
House | 5,100M VND | 31,000M VND | 44,000M VND |
Villa | 6,200M VND | 34,000M VND | 51,000M VND |
The average price of a studio apartment in Da Nang can range from 510M VND to 1,500M VND depending on location. One bedroom cost can be anywhere from 620M VND to 3,800M VND. A villa can cost you 34,000M VND on average with prices ranging from 6,200M VND to 51,000M VND.
If you're leasing or purchasing, housing costs in Da Nang 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
| 32 | x90 monthly income | 198 |
Property prices in Da Nang can be x90 to x198 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x90 multiples of the average monthly salary in Da Nang.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Da Nang 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.
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
27% 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.
| 47,000 VND | 610,000 VND | 6.1M VND |
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 Da Nang
Housing30%
30% of total expenses on average (18% to 42%)
| LOW | $100 2.5M VND |
| AVERAGE | $310 7.6M VND |
| HIGH | $2,000 51M VND |
| Per Month |
Utilities, Electricity, Water8%
8% of total expenses on average (4% to 13%)
| LOW | $17 420,000 VND |
| AVERAGE | $51 1.3M VND |
| HIGH | $340 8.4M VND |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (3% to 11%)
| LOW | $23 560,000 VND |
| AVERAGE | $68 1.7M VND |
| HIGH | $450 11M VND |
| Per Month |
Food and Groceries19%
19% of total expenses on average (13% to 24%)
| LOW | $45 1.1M VND |
| AVERAGE | $140 3.4M VND |
| HIGH | $910 22M VND |
| Per Month |
Healthcare12%
12% of total expenses on average (6% to 16%)
| LOW | $25 630,000 VND |
| AVERAGE | $76 1.9M VND |
| HIGH | $510 13M VND |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 6%)
| LOW | $14 350,000 VND |
| AVERAGE | $42 1.1M VND |
| HIGH | $280 7M VND |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
| LOW | $5.7 140,000 VND |
| AVERAGE | $17 420,000 VND |
| HIGH | $110 2.8M VND |
| Per Month |
Other Expenses22%
22% of total expenses on average (14% to 26%)
| LOW | $51 1.3M VND |
| AVERAGE | $150 3.8M VND |
| HIGH | $1,000 25M VND |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Da Nang
Housing27%
27% of total expenses on average (20% to 37%)
| LOW | $160 3.9M VND |
| AVERAGE | $470 12M VND |
| HIGH | $2,500 62M VND |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (5% to 11%)
| LOW | $24 580,000 VND |
| AVERAGE | $71 1.8M VND |
| HIGH | $380 9.4M VND |
| Per Month |
Transport, Fuel9%
9% of total expenses on average (3% to 14%)
| LOW | $57 1.4M VND |
| AVERAGE | $170 4.2M VND |
| HIGH | $910 22M VND |
| Per Month |
Food and Groceries17%
17% of total expenses on average (12% to 22%)
| LOW | $66 1.6M VND |
| AVERAGE | $200 4.9M VND |
| HIGH | $1,100 26M VND |
| Per Month |
Healthcare14%
14% of total expenses on average (8% to 18%)
| LOW | $52 1.3M VND |
| AVERAGE | $160 3.9M VND |
| HIGH | $830 21M VND |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (1% to 7%)
| LOW | $28 700,000 VND |
| AVERAGE | $85 2.1M VND |
| HIGH | $450 11M VND |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
| LOW | $9.4 230,000 VND |
| AVERAGE | $28 700,000 VND |
| HIGH | $150 3.7M VND |
| Per Month |
Other Expenses21%
21% of total expenses on average (15% to 27%)
| LOW | $80 2M VND |
| AVERAGE | $240 6M VND |
| HIGH | $1,300 32M VND |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Da Nang
Housing26%
26% of total expenses on average (21% to 36%)
| LOW | $210 5.2M VND |
| AVERAGE | $600 15M VND |
| HIGH | $3,300 82M VND |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (3% to 7%)
| LOW | $53 1.3M VND |
| AVERAGE | $150 3.7M VND |
| HIGH | $830 21M VND |
| Per Month |
Food and Groceries21%
21% of total expenses on average (14% to 27%)
| LOW | $120 2.9M VND |
| AVERAGE | $340 8.4M VND |
| HIGH | $1,900 46M VND |
| Per Month |
Healthcare11%
11% of total expenses on average (7% to 16%)
| LOW | $53 1.3M VND |
| AVERAGE | $150 3.7M VND |
| HIGH | $830 21M VND |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (1% to 7%)
| LOW | $33 820,000 VND |
| AVERAGE | $94 2.3M VND |
| HIGH | $520 13M VND |
| Per Month |
Education13%
13% of total expenses on average (6% to 21%)
| LOW | $92 2.3M VND |
| AVERAGE | $260 6.6M VND |
| HIGH | $1,500 36M VND |
| Per Month |
Other Expenses16%
16% of total expenses on average (9% to 21%)
| LOW | $79 2M VND |
| AVERAGE | $230 5.6M VND |
| HIGH | $1,200 31M VND |
| Per Month |
StudentCost of living and expenses break down for students living in Da Nang
Housing18%
18% of total expenses on average (13% to 24%)
| LOW | $54 1.3M VND |
| AVERAGE | $130 3.3M VND |
| HIGH | $240 6M VND |
| Per Month |
Utilities, Electricity, Water6%
6% of total expenses on average (4% to 10%)
| LOW | $8.9 220,000 VND |
| AVERAGE | $22 550,000 VND |
| HIGH | $40 1,000,000 VND |
| Per Month |
Transport, Fuel4%
4% of total expenses on average (4% to 10%)
| LOW | $16 390,000 VND |
| AVERAGE | $39 970,000 VND |
| HIGH | $70 1.7M VND |
| Per Month |
Food and Groceries23%
23% of total expenses on average (17% to 27%)
| LOW | $45 1.1M VND |
| AVERAGE | $110 2.8M VND |
| HIGH | $200 5M VND |
| Per Month |
Healthcare9%
9% of total expenses on average (6% to 12%)
| LOW | $13 330,000 VND |
| AVERAGE | $33 830,000 VND |
| HIGH | $60 1.5M VND |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $11 280,000 VND |
| AVERAGE | $28 690,000 VND |
| HIGH | $50 1.2M VND |
| Per Month |
Education18%
18% of total expenses on average (11% to 23%)
| LOW | $42 1.1M VND |
| AVERAGE | $110 2.6M VND |
| HIGH | $190 4.7M VND |
| Per Month |
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $33 830,000 VND |
| AVERAGE | $84 2.1M VND |
| HIGH | $150 3.7M VND |
| Per Month |
