Cost Of Living in Dominican Republic 2024
Average monthly spending for singles, couples, students, and families in Dominican Republic
Whether you're living in Dominican Republic 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 Expenditure20,000 DOP
per month$3401,500 DOP $26
$3,400 200,000 DOP
Single14,000 DOP
per month$2404,600 DOP $79
$1,600 92,000 DOP
Couple23,000 DOP
per month$3907,700 DOP $130
$2,100 120,000 DOP
Family31,000 DOP
per month$52011,000 DOP $180
$2,900 170,000 DOP
Student9,000 DOP
per month$1503,600 DOP $61
$270 16,000 DOP
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Dominican Republic is 14,000 DOP. Expenses can range from 4,600 DOP at the minimum level to 92,000 DOP at the highest end.
Couples
The average monthly spending of couples in Dominican Republic is 23,000 DOP. Expenditure can range from 7,700 DOP to 120,000 DOP per month.
Families
The average cost of living for families in Dominican Republic is 31,000 DOP per month. Families spend anywhere from 11,000 DOP to 170,000 DOP.
Students
The average monthly expenditure for students in Dominican Republic is 9,000 DOP. Students spend from 3,600 DOP to 16,000 DOP 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 Dominican Republic
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 | 50,000 DOP | 100,000 DOP | 130,000 DOP |
Bus ticket one way
Car Service Utility cost (monthly)
Utility Bill - Individual | 280 DOP | 830 DOP | 5,500 DOP |
Utility Bill - Couple | 390 DOP | 1,200 DOP | 6,200 DOP |
Utility Bill - Family | 320 DOP | 920 DOP | 5,100 DOP |
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 | 1,700 DOP | 2,500 DOP | 6,600 DOP |
1-bedroom apartment | 2,500 DOP | 4,000 DOP | 10,000 DOP |
2-bedroom apartment | 3,300 DOP | 5,000 DOP | 13,000 DOP |
Housing costs / Buying
Studio apartment | 330,000 DOP | 500,000 DOP | 1,000,000 DOP |
1-bedroom apartment | 400,000 DOP | 660,000 DOP | 2.5M DOP |
2-bedroom apartment | 660,000 DOP | 2M DOP | 4M DOP |
Furniture Costs
King Size Bed | 2,000 DOP | 2,500 DOP | 3,300 DOP |
Double Bed | 1,300 DOP | 2,000 DOP | 2,500 DOP |
Single Bed | 1,200 DOP | 1,500 DOP | 2,000 DOP |
Living Room | 2,200 DOP | 2,800 DOP | 10,000 DOP |
Dining Table | 1,000 DOP | 1,300 DOP | 2,500 DOP |
Sofa or Couch | 1,300 DOP | 1,800 DOP | 4,000 DOP |
Electronics and House Appliance Costs
TV Set | 1,300 DOP | 2,000 DOP | 4,000 DOP |
Fridge or Freezer | 1,200 DOP | 1,800 DOP | 2,500 DOP |
Washing Machine | 1,500 DOP | 2,200 DOP | 4,000 DOP |
Stove or Cooker | 1,400 DOP | 1,800 DOP | 2,500 DOP |
Mobile Phone | 1,700 DOP | 2,000 DOP | 2,800 DOP |
Laptop or Computer | 1,800 DOP | 2,200 DOP | 4,000 DOP |
Expenditure to Income Ratio in Dominican 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.
Spending to Income Ratio
86%
80% to 95%
( 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 Dominican Republic is 86%
This means that on average, people spend around 86% 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
77%
Spending-Income-Ratio
72%
86%
Couple
82%
Spending-Income-Ratio
76%
90%
Family
90%
Spending-Income-Ratio
84%
100%
How do people spend their money in Dominican Republic?
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 | $7.9 460 DOP |
| AVERAGE | $100 6,000 DOP |
| HIGH | $1,000 60,000 DOP |
| Per Month |
People living in Dominican Republic typically spend from 13% to 32% of their total monthly expenditure on housing with 24% being the average. The average spend on housing is 6,000 DOP with expenditure ranging from 460 DOP to 60,000 DOP. 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 | $1.3 77 DOP |
| AVERAGE | $17 1,000 DOP |
| HIGH | $170 10,000 DOP |
| Per Month |
Utility expenditure like electricity, water, and gas in Dominican Republic ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 1,000 DOP with 77 DOP and 10,000 DOP being the upper and lower limits.
Transport, Fuel, Commute7%
7% of total expenses on average (3% to 11%)
| LOW | $2.6 150 DOP |
| AVERAGE | $34 2,000 DOP |
| HIGH | $340 20,000 DOP |
| 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 150 DOP to 20,000 DOP on commuting with 2,000 DOP 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 | $6.6 390 DOP |
| AVERAGE | $85 5,000 DOP |
| HIGH | $850 50,000 DOP |
| Per Month |
The average outlay on groceries in a month in Dominican Republic is 5,000 DOP. The cost of groceries can range between 390 DOP to 50,000 DOP. 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 | $1.8 110 DOP |
| AVERAGE | $24 1,400 DOP |
| HIGH | $240 14,000 DOP |
| Per Month |
People in Dominican Republic 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 DOP to 14,000 DOP with 1,400 DOP being the norm.
Leisure and Shopping5%
5% of total expenses on average (2% to 9%)
| LOW | $1 62 DOP |
| AVERAGE | $14 800 DOP |
| HIGH | $140 8,000 DOP |
| 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 62 DOP to 8,000 DOP with 800 DOP 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 | $1.6 92 DOP |
| AVERAGE | $20 1,200 DOP |
| HIGH | $200 12,000 DOP |
| 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 1,200 DOP per month with 92 DOP being the minimum spent amount and 12,000 DOP being the maximum.
Other Expenses14%
14% of total expenses on average (9% to 21%)
| LOW | $3.4 200 DOP |
| AVERAGE | $44 2,600 DOP |
| HIGH | $440 26,000 DOP |
| Per Month |
How much money can you save in Dominican Republic 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 Dominican Republic manage to save money from their income every month?
Almost 55% of the surveyed people in Dominican Republic said that they can save some money at the end of each month while 45% said that aren't saving anything.
Percentage of people saving money by population group in Dominican Republic
| Group | Savers | Non Savers |
|---|
| Singles | 57% | 43% |
| Couples | 52% | 48% |
| Families | 47% | 53% |
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
450 DOP
$7.7 | 5,900 DOP
$100 | 59,000 DOP
$1,000 |
For most people, 10% to 30% of their monthly income is what they can allocate to their savings, with 17% being the average. The amount of money that people can save is approximately 5,900 DOP on average with savings ranging from 450 DOP to 59,000 DOP.
57% of surveyed singles reported some of their income going to savings while 52% of couples said the same. 47% of families confirmed their ability to save money.
How much money do people actually save in Dominican Republic?
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
1,400 DOP
$23 | 4,100 DOP
$69 | 27,000 DOP
$460 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 31% |
| 10% - 20% | 24% |
| 20% - 30% | 16% |
| 30% - 40% | 14% |
| 40% - 50% | 11% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 13% to 32% of their monthly income to savings, with 21% being the average for most singles. The average amount of money that singles are able to save is 4,100 DOP with 1,400 DOP and 27,000 DOP being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
2,300 DOP
$38 | 6,800 DOP
$120 | 36,000 DOP
$610 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 35% |
| 10% - 20% | 26% |
| 20% - 30% | 19% |
| 30% - 40% | 9% |
| 40% - 50% | 8% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 11% to 31% of their monthly income, with 19% being the average for most couples. The average amount of money that couples can save is 6,800 DOP with 2,300 DOP and 36,000 DOP being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
3,200 DOP
$54 | 9,000 DOP
$150 | 50,000 DOP
$850 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 38% |
| 10% - 20% | 29% |
| 20% - 30% | 20% |
| 30% - 40% | 6% |
| 40% - 50% | 5% |
| > 50% | 2% |
Interpretation and Analysis
Families in Dominican Republic can save anywhere between 9% to 28% of their monthly income, with 16% being the average for most families. The average amount of money that families can put aside is 9,000 DOP with 3,200 DOP and 50,000 DOP 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 Dominican Republic
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Dominican Republic?
Around 47% of surveyed residents think that living in Dominican Republic is affordable with proper budgeting while 53% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Dominican 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 residents how easily cost-cutting is and the answers were distributed as follows:
Plenty of low-cost options55%
Few low-cost options45%
Based on the survey, 55% of the people living in Dominican Republic have no problem finding low-cost alternatives to support a frugal lifestyle while 45% 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 Dominican Republic whether they have an emergency fund and the answers were as follows.
Yes46%
No54%
Based on the survey, 54% of the people living in Dominican Republic said that they don't have an emergency fund while 46% said that they do.
Financial Literacy in Dominican 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 Leteracy42%
We asked residents of Dominican Republic whether they acquired any adequate personal financial training in their lives. Approximately 58% 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 42% 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 Dominican Republic have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 51% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 49% said that they have everything under control.
Struggles with finance51%
Easily manages finances49%
Financial goals of people in Dominican Republic
In an attempt to understand the economic situation in Dominican 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.
| 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 Dominican Republic
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Dominican Republic. 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 Dominican Republic
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 Dominican Republic
What does the retirement lifestyle look like in Dominican Republic and how much retirement savings are required?
Retirement age
The retirement age for most employees in Dominican Republic 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 Dominican Republic:| Age | Amount |
|---|
| 25 | 52,000 DOP |
| 30 | 100,000 DOP |
| 35 | 180,000 DOP |
| 40 | 260,000 DOP |
| 45 | 390,000 DOP |
| 50 | 540,000 DOP |
| 55 | 650,000 DOP |
| 60 | 800,000 DOP |
| 65 | 960,000 DOP |
Retirement Income Distribution
We asked residents of Dominican Republic 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 Dominican Republic 3,400 DOP
$58 | 10,000 DOP
$170 | 69,000 DOP
$1,200 |
Debt, loans, and mortgages in Dominican Republic
Percentage of people who are in debt
According to the survey, 29% of the people in Dominican Republic have some kind of debt, loan, mortgage, or credit card payments while 71% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Dominican Republic
Debt to income ratio
31%
23% 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 31% of the people's monthly income in Dominican Republic 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 Dominican Republic 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 Dominican Republic
| Debt | % People |
|---|
| Real Estate Mortgage | 9% |
| Auto Loan | 16% |
| Student Loan | 4% |
| Credit Card | 29% |
| Personal Loan | 42% |
9% of debtors in Dominican Republic 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 16% of people and personal loans rose at 42%. Lastly, student loans are the main source of debt for 4% of debtors in Dominican Republic.
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 Dominican Republic
Besides measuring the loan-to-income ratio, we asked residents of Dominican 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.
| 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 Dominican Republic
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Dominican Republic
Monthly Rent Prices
Studio apartment | 1,700 DOP | 2,500 DOP | 6,600 DOP |
1-bedroom apartment | 2,500 DOP | 4,000 DOP | 10,000 DOP |
2-bedroom apartment | 3,300 DOP | 5,000 DOP | 13,000 DOP |
3-bedroom apartment | 4,000 DOP | 6,600 DOP | 18,000 DOP |
Furnished apartment | 8,000 DOP | 20,000 DOP | 40,000 DOP |
Townhouse | 6,600 DOP | 10,000 DOP | 28,000 DOP |
House | 8,000 DOP | 20,000 DOP | 40,000 DOP |
Villa | 10,000 DOP | 25,000 DOP | 40,000 DOP |
The monthly rental cost of a studio apartment in Dominican Republic ranges between 1,700 DOP and 6,600 DOP, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 2,500 DOP to 10,000 DOP. Two-bedroom rentals rate ranges between 3,300 DOP and 13,000 DOP per month. The monthly rental for a three-bedroom apartment ranges from 4,000 DOP to 18,000 DOP. The average rent of a townhouse in Dominican Republic is around 10,000 DOP while house rental costs can be as high as 20,000 DOP per month. Finally, if you want to rent a villa, expect to pay anywhere from 10,000 DOP to 40,000 DOP per month.
Apartment and house prices in Dominican Republic
Cost of buying a property
Studio apartment | 330,000 DOP | 500,000 DOP | 1,000,000 DOP |
1-bedroom apartment | 400,000 DOP | 660,000 DOP | 2.5M DOP |
2-bedroom apartment | 660,000 DOP | 2M DOP | 4M DOP |
3-bedroom apartment | 2.2M DOP | 3.3M DOP | 10M DOP |
Townhouse | 2.8M DOP | 6.6M DOP | 25M DOP |
| $48,000 | $110,000 | $420,000 |
House | $56,000 | $340,000 | $480,000 |
Villa | $68,000 | $380,000 | $560,000 |
The average price of a studio apartment in Dominican Republic can range from 330,000 DOP to 1,000,000 DOP depending on location. One bedroom cost can be anywhere from 400,000 DOP to 2.5M DOP. A villa can cost you 22M DOP on average with prices ranging from 4M DOP to 33M DOP.
If you're leasing or purchasing, housing costs in Dominican Republic 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 | x91 monthly income | 195 |
Property prices in Dominican Republic can be x91 to x195 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x91 multiples of the average monthly salary in Dominican Republic.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Dominican Republic is around 29%. This means that people pay 29% of their income for rent. Those figures can range from 19% to 39% 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.
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 Dominican Republic
Housing30%
30% of total expenses on average (18% to 42%)
| LOW | $28 1,700 DOP |
| AVERAGE | $85 5,000 DOP |
| HIGH | $570 33,000 DOP |
| Per Month |
Utilities, Electricity, Water8%
8% of total expenses on average (4% to 13%)
| LOW | $4.7 280 DOP |
| AVERAGE | $14 830 DOP |
| HIGH | $94 5,500 DOP |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (3% to 11%)
| LOW | $6.3 370 DOP |
| AVERAGE | $19 1,100 DOP |
| HIGH | $130 7,400 DOP |
| Per Month |
Food and Groceries19%
19% of total expenses on average (13% to 24%)
| LOW | $13 740 DOP |
| AVERAGE | $38 2,200 DOP |
| HIGH | $250 15,000 DOP |
| Per Month |
Healthcare12%
12% of total expenses on average (6% to 16%)
| LOW | $7.1 420 DOP |
| AVERAGE | $21 1,200 DOP |
| HIGH | $140 8,300 DOP |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 6%)
| LOW | $3.9 230 DOP |
| AVERAGE | $12 690 DOP |
| HIGH | $79 4,600 DOP |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
| LOW | $1.6 92 DOP |
| AVERAGE | $4.7 280 DOP |
| HIGH | $31 1,800 DOP |
| Per Month |
Other Expenses22%
22% of total expenses on average (14% to 26%)
| LOW | $14 830 DOP |
| AVERAGE | $42 2,500 DOP |
| HIGH | $280 17,000 DOP |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Dominican Republic
Housing27%
27% of total expenses on average (20% to 37%)
| LOW | $43 2,500 DOP |
| AVERAGE | $130 7,600 DOP |
| HIGH | $690 41,000 DOP |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (5% to 11%)
| LOW | $6.6 390 DOP |
| AVERAGE | $20 1,200 DOP |
| HIGH | $100 6,200 DOP |
| Per Month |
Transport, Fuel9%
9% of total expenses on average (3% to 14%)
| LOW | $16 920 DOP |
| AVERAGE | $47 2,800 DOP |
| HIGH | $250 15,000 DOP |
| Per Month |
Food and Groceries17%
17% of total expenses on average (12% to 22%)
| LOW | $18 1,100 DOP |
| AVERAGE | $55 3,200 DOP |
| HIGH | $290 17,000 DOP |
| Per Month |
Healthcare14%
14% of total expenses on average (8% to 18%)
| LOW | $14 850 DOP |
| AVERAGE | $43 2,500 DOP |
| HIGH | $230 14,000 DOP |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (1% to 7%)
| LOW | $7.9 460 DOP |
| AVERAGE | $24 1,400 DOP |
| HIGH | $130 7,400 DOP |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
| LOW | $2.6 150 DOP |
| AVERAGE | $7.9 460 DOP |
| HIGH | $42 2,500 DOP |
| Per Month |
Other Expenses21%
21% of total expenses on average (15% to 27%)
| LOW | $22 1,300 DOP |
| AVERAGE | $67 3,900 DOP |
| HIGH | $360 21,000 DOP |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Dominican Republic
Housing26%
26% of total expenses on average (21% to 36%)
| LOW | $59 3,500 DOP |
| AVERAGE | $170 9,900 DOP |
| HIGH | $920 54,000 DOP |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (3% to 7%)
| LOW | $15 860 DOP |
| AVERAGE | $42 2,500 DOP |
| HIGH | $230 14,000 DOP |
| Per Month |
Food and Groceries21%
21% of total expenses on average (14% to 27%)
| LOW | $33 1,900 DOP |
| AVERAGE | $94 5,500 DOP |
| HIGH | $520 31,000 DOP |
| Per Month |
Healthcare11%
11% of total expenses on average (7% to 16%)
| LOW | $15 860 DOP |
| AVERAGE | $42 2,500 DOP |
| HIGH | $230 14,000 DOP |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (1% to 7%)
| LOW | $9.2 540 DOP |
| AVERAGE | $26 1,500 DOP |
| HIGH | $140 8,500 DOP |
| Per Month |
Education13%
13% of total expenses on average (6% to 21%)
| LOW | $26 1,500 DOP |
| AVERAGE | $73 4,300 DOP |
| HIGH | $400 24,000 DOP |
| Per Month |
Other Expenses16%
16% of total expenses on average (9% to 21%)
| LOW | $22 1,300 DOP |
| AVERAGE | $63 3,700 DOP |
| HIGH | $350 20,000 DOP |
| Per Month |
StudentCost of living and expenses break down for students living in Dominican Republic
Housing18%
18% of total expenses on average (13% to 24%)
| LOW | $15 860 DOP |
| AVERAGE | $37 2,200 DOP |
| HIGH | $66 3,900 DOP |
| Per Month |
Utilities, Electricity, Water6%
6% of total expenses on average (4% to 10%)
| LOW | $2.4 140 DOP |
| AVERAGE | $6.1 360 DOP |
| HIGH | $11 650 DOP |
| Per Month |
Transport, Fuel4%
4% of total expenses on average (4% to 10%)
| LOW | $4.3 250 DOP |
| AVERAGE | $11 630 DOP |
| HIGH | $19 1,100 DOP |
| Per Month |
Food and Groceries23%
23% of total expenses on average (17% to 27%)
| LOW | $12 720 DOP |
| AVERAGE | $30 1,800 DOP |
| HIGH | $55 3,200 DOP |
| Per Month |
Healthcare9%
9% of total expenses on average (6% to 12%)
| LOW | $3.7 220 DOP |
| AVERAGE | $9.1 540 DOP |
| HIGH | $16 970 DOP |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $3 180 DOP |
| AVERAGE | $7.6 450 DOP |
| HIGH | $14 810 DOP |
| Per Month |
Education18%
18% of total expenses on average (11% to 23%)
| LOW | $12 680 DOP |
| AVERAGE | $29 1,700 DOP |
| HIGH | $52 3,100 DOP |
| Per Month |
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $9.1 540 DOP |
| AVERAGE | $23 1,300 DOP |
| HIGH | $41 2,400 DOP |
| Per Month |
