Cost Of Living in Eritrea 2024
Average monthly spending for singles, couples, students, and families in Eritrea
Whether you're living in Eritrea 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 Expenditure6,900 ERN
per month$460530 ERN $35
$4,600 69,000 ERN
Single4,800 ERN
per month$3201,600 ERN $110
$2,100 32,000 ERN
Couple7,900 ERN
per month$5302,600 ERN $180
$2,800 42,000 ERN
Family11,000 ERN
per month$7003,700 ERN $250
$3,900 58,000 ERN
Student3,100 ERN
per month$2101,200 ERN $82
$370 5,600 ERN
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Eritrea is 4,800 ERN. Expenses can range from 1,600 ERN at the minimum level to 32,000 ERN at the highest end.
Couples
The average monthly spending of couples in Eritrea is 7,900 ERN. Expenditure can range from 2,600 ERN to 42,000 ERN per month.
Families
The average cost of living for families in Eritrea is 11,000 ERN per month. Families spend anywhere from 3,700 ERN to 58,000 ERN.
Students
The average monthly expenditure for students in Eritrea is 3,100 ERN. Students spend from 1,200 ERN to 5,600 ERN 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 Eritrea
Dining, food, and beverages costs
Large bottle of water | 0.81 ERN | 0.92 ERN | 1.1 ERN |
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 | 0.83 ERN | 0.94 ERN | 1.1 ERN |
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 | 17,000 ERN | 34,000 ERN | 46,000 ERN |
Bus ticket one way
Car Service Utility cost (monthly)
Utility Bill - Individual
Utility Bill - Couple | 130 ERN | 400 ERN | 2,100 ERN |
Utility Bill - Family | 110 ERN | 320 ERN | 1,700 ERN |
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 | 570 ERN | 860 ERN | 2,300 ERN |
1-bedroom apartment | 860 ERN | 1,400 ERN | 3,400 ERN |
2-bedroom apartment | 1,100 ERN | 1,700 ERN | 4,600 ERN |
Housing costs / Buying
Studio apartment | 110,000 ERN | 170,000 ERN | 340,000 ERN |
1-bedroom apartment | 140,000 ERN | 230,000 ERN | 860,000 ERN |
2-bedroom apartment | 230,000 ERN | 690,000 ERN | 1.4M ERN |
Furniture Costs
King Size Bed | 690 ERN | 860 ERN | 1,100 ERN |
Double Bed
Single Bed
Living Room | 760 ERN | 980 ERN | 3,400 ERN |
Dining Table
Sofa or Couch | 460 ERN | 620 ERN | 1,400 ERN |
Electronics and House Appliance Costs
TV Set | 460 ERN | 690 ERN | 1,400 ERN |
Fridge or Freezer
Washing Machine | 530 ERN | 760 ERN | 1,400 ERN |
Stove or Cooker
Mobile Phone
Laptop or Computer | 620 ERN | 760 ERN | 1,400 ERN |
Expenditure to Income Ratio in Eritrea
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
88%
82% to 96%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 3% |
| 50% - 60% | 8% |
| 60% - 70% | 14% |
| 70% - 80% | 24% |
| 80% - 90% | 22% |
| 90% - 100% | 12% |
| 100% - 110% | 6% |
| 110% - 120% | 4% |
| 120% - 130% | 3% |
| 130% - 140% | 3% |
| > 140% | 2% |
Interpretation and Analysis
The average spending-to-salary ratio in Eritrea is 88%
This means that on average, people spend around 88% of their income for living.
According to the distribution table, 14% 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
79%
Spending-Income-Ratio
74%
86%
Couple
84%
Spending-Income-Ratio
78%
91%
Family
92%
Spending-Income-Ratio
86%
100%
How do people spend their money in Eritrea?
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 Expenditure22%
22% of total expenses on average (11% to 30%)
| LOW | $11 160 ERN |
| AVERAGE | $140 2,100 ERN |
| HIGH | $1,400 21,000 ERN |
| Per Month |
People living in Eritrea typically spend from 11% to 30% of their total monthly expenditure on housing with 22% being the average. The average spend on housing is 2,100 ERN with expenditure ranging from 160 ERN to 21,000 ERN. 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, Water8%
8% of total expenses on average (5% to 12%)
| LOW | $1.8 26 ERN |
| AVERAGE | $23 340 ERN |
| HIGH | $230 3,400 ERN |
| Per Month |
Utility expenditure like electricity, water, and gas in Eritrea ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 340 ERN with 26 ERN and 3,400 ERN being the upper and lower limits.
Transport, Fuel, Commute6%
6% of total expenses on average (3% to 10%)
| LOW | $3.5 53 ERN |
| AVERAGE | $46 690 ERN |
| HIGH | $460 6,900 ERN |
| 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 53 ERN to 6,900 ERN on commuting with 690 ERN being the norm for most people in one month. This means that money spent on transport constitutes about 6% of total spending on average but can go as low as 3% or as high as 10%.
Food and Groceries Cost29%
29% of total expenses on average (21% to 35%)
| LOW | $8.8 130 ERN |
| AVERAGE | $110 1,700 ERN |
| HIGH | $1,100 17,000 ERN |
| Per Month |
The average outlay on groceries in a month in Eritrea is 1,700 ERN. The cost of groceries can range between 130 ERN to 17,000 ERN. People spend on average about 29% on food and groceries with upper and lower bounds of 21% and 35% respectively.
Healthcare and Medical Services11%
11% of total expenses on average (6% to 14%)
| LOW | $2.5 37 ERN |
| AVERAGE | $32 480 ERN |
| HIGH | $320 4,800 ERN |
| Per Month |
People in Eritrea allocate 6% to 14% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 11%. The range of medical expenses range from 37 ERN to 4,800 ERN with 480 ERN being the norm.
Leisure and Shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $1.4 21 ERN |
| AVERAGE | $18 270 ERN |
| HIGH | $180 2,700 ERN |
| 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 21 ERN to 2,700 ERN with 270 ERN being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.
Education and Schooling5%
5% of total expenses on average (3% to 11%)
| LOW | $2.1 32 ERN |
| AVERAGE | $27 410 ERN |
| HIGH | $270 4,100 ERN |
| 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 410 ERN per month with 32 ERN being the minimum spent amount and 4,100 ERN being the maximum.
Other Expenses15%
15% of total expenses on average (10% to 22%)
| LOW | $4.6 69 ERN |
| AVERAGE | $60 890 ERN |
| HIGH | $600 8,900 ERN |
| Per Month |
How much money can you save in Eritrea 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 Eritrea manage to save money from their income every month?
Almost 49% of the surveyed people in Eritrea said that they can save some money at the end of each month while 51% said that aren't saving anything.
Percentage of people saving money by population group in Eritrea
| Group | Savers | Non Savers |
|---|
| Singles | 58% | 42% |
| Couples | 53% | 47% |
| Families | 48% | 52% |
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
160 ERN
$11 | 2,000 ERN
$140 | 20,000 ERN
$1,400 |
For most people, 6% to 26% of their monthly income is what they can allocate to their savings, with 12% being the average. The amount of money that people can save is approximately 2,000 ERN on average with savings ranging from 160 ERN to 20,000 ERN.
58% of surveyed singles reported some of their income going to savings while 53% of couples said the same. 48% of families confirmed their ability to save money.
How much money do people actually save in Eritrea?
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
470 ERN
$32 | 1,400 ERN
$95 | 9,500 ERN
$630 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 35% |
| 10% - 20% | 27% |
| 20% - 30% | 17% |
| 30% - 40% | 10% |
| 40% - 50% | 8% |
| > 50% | 3% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 9% to 28% of their monthly income to savings, with 16% being the average for most singles. The average amount of money that singles are able to save is 1,400 ERN with 470 ERN and 9,500 ERN being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
790 ERN
$53 | 2,400 ERN
$160 | 13,000 ERN
$840 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 39% |
| 10% - 20% | 29% |
| 20% - 30% | 20% |
| 30% - 40% | 5% |
| 40% - 50% | 5% |
| > 50% | 2% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 7% to 27% of their monthly income, with 14% being the average for most couples. The average amount of money that couples can save is 2,400 ERN with 790 ERN and 13,000 ERN being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
1,100 ERN
$74 | 3,200 ERN
$210 | 17,000 ERN
$1,200 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 42% |
| 10% - 20% | 32% |
| 20% - 30% | 21% |
| 30% - 40% | 2% |
| 40% - 50% | 2% |
| > 50% | 1% |
Interpretation and Analysis
Families in Eritrea can save anywhere between 6% to 25% of their monthly income, with 11% being the average for most families. The average amount of money that families can put aside is 3,200 ERN with 1,100 ERN and 17,000 ERN 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 Eritrea
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Eritrea?
Around 45% of surveyed residents think that living in Eritrea is affordable with proper budgeting while 55% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Eritrea
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 options52%
Few low-cost options48%
Based on the survey, 52% of the people living in Eritrea have no problem finding low-cost alternatives to support a frugal lifestyle while 48% 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 Eritrea whether they have an emergency fund and the answers were as follows.
Yes41%
No59%
Based on the survey, 59% of the people living in Eritrea said that they don't have an emergency fund while 41% said that they do.
Financial Literacy in Eritrea
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 Leteracy40%
We asked residents of Eritrea whether they acquired any adequate personal financial training in their lives. Approximately 60% 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 40% 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 Eritrea have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 63% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 37% said that they have everything under control.
Struggles with finance63%
Easily manages finances37%
Financial goals of people in Eritrea
In an attempt to understand the economic situation in Eritrea, 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 | 9% |
| Debt Reduction | 46% |
| Retirement Savings | 11% |
| Education Funding | 6% |
| Homeownership | 19% |
| Investing | 6% |
| Travel or Lifestyle | 5% |
| Healthcare Expenses | 15% |
| Financial Independence | 4% |
Around 9% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 46% said their number one priority is to pay off high-interest debt or loans and improve credit. 11% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 6% reported that their priority is saving for the tuition fees and education costs of their children while 19% choose to buy a home or pay off existing mortgage before other things. 6% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 5% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 15% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Saving Challenges in Eritrea
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Eritrea. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 4% |
| High Expenses | 7% |
| Debt and Loans | 12% |
| Lack of Budgeting Skills | 12% |
| Impulsive Spending | 12% |
| Financial Emergencies | 7% |
| Living the moment | 5% |
| Will do it later | 22% |
| Inflation | 14% |
| Social Pressure | 2% |
| Market Instability | 2% |
Around 4% of the people said that their salary is too low to accommodate a portion for savings while 7% said that the high cost of living leaves little room for savings. 12% of the residents said that they are burdened with debt and find it challenging to save money. 12% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 12% blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 5% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 22% 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. 14% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 2% 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 Eritrea
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 13% |
| Gold | 14% |
| Savings Accounts | 16% |
| Retirement Accounts | 9% |
| Cash Savings | 22% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 3% |
| Bonds | 4% |
| Mutual Funds | 2% |
| Certificates of Deposit | 2% |
Retirement, pension plans, and life after work in Eritrea
What does the retirement lifestyle look like in Eritrea and how much retirement savings are required?
Retirement age
The retirement age for most employees in Eritrea 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 Eritrea:| Age | Amount |
|---|
| 25 | 18,000 ERN |
| 30 | 36,000 ERN |
| 35 | 62,000 ERN |
| 40 | 89,000 ERN |
| 45 | 130,000 ERN |
| 50 | 190,000 ERN |
| 55 | 220,000 ERN |
| 60 | 280,000 ERN |
| 65 | 330,000 ERN |
Retirement Income Distribution
We asked residents of Eritrea about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 11% |
| Savings | 24% |
| Investments | 11% |
| Social Security | 6% |
| Annuities | 6% |
| Part-time Job | 16% |
| Real Estate | 19% |
| Dividends and Interest | 6% |
Retirement Monthly Expenses in Eritrea 1,200 ERN
$78 | 3,500 ERN
$230 | 23,000 ERN
$1,600 |
Debt, loans, and mortgages in Eritrea
Percentage of people who are in debt
According to the survey, 36% of the people in Eritrea have some kind of debt, loan, mortgage, or credit card payments while 64% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Eritrea
Debt to income ratio
33%
26% 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 Eritrea goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 4% |
| 50% - 60% | 20% |
| 40% - 50% | 16% |
| 30% - 40% | 18% |
| 20% - 30% | 9% |
| 10% - 20% | 10% |
| 0% - 10% | 25% |
According to our data, 4% of the debtors in Eritrea pay 60%+ of their income as debt settlement while 20% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 16% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 18% dedicated 30% to 40% of income for same. Things are looking brighter for 9% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Eritrea
| Debt | % People |
|---|
| Real Estate Mortgage | 7% |
| Auto Loan | 12% |
| Student Loan | 4% |
| Credit Card | 31% |
| Personal Loan | 45% |
7% of debtors in Eritrea confirm that real estate mortgages constitutes the main part of their outstanding debt while 31% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 12% of people and personal loans rose at 45%. Lastly, student loans are the main source of debt for 4% of debtors in Eritrea.
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 Eritrea
Besides measuring the loan-to-income ratio, we asked residents of Eritrea 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 | 49% |
| Once a year | 25% |
| Twice a year | 13% |
| Three times a year | 9% |
| Four times a year | 5% |
Housing costs, accommodation, and housing affordability in Eritrea
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Eritrea
Monthly Rent Prices
Studio apartment | 570 ERN | 860 ERN | 2,300 ERN |
1-bedroom apartment | 860 ERN | 1,400 ERN | 3,400 ERN |
2-bedroom apartment | 1,100 ERN | 1,700 ERN | 4,600 ERN |
3-bedroom apartment | 1,400 ERN | 2,300 ERN | 6,200 ERN |
Furnished apartment | 2,700 ERN | 6,900 ERN | 14,000 ERN |
Townhouse | 2,300 ERN | 3,400 ERN | 9,800 ERN |
House | 2,700 ERN | 6,900 ERN | 14,000 ERN |
Villa | 3,400 ERN | 8,600 ERN | 14,000 ERN |
The monthly rental cost of a studio apartment in Eritrea ranges between 570 ERN and 2,300 ERN, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 860 ERN to 3,400 ERN. Two-bedroom rentals rate ranges between 1,100 ERN and 4,600 ERN per month. The monthly rental for a three-bedroom apartment ranges from 1,400 ERN to 6,200 ERN. The average rent of a townhouse in Eritrea is around 3,400 ERN while house rental costs can be as high as 6,900 ERN per month. Finally, if you want to rent a villa, expect to pay anywhere from 3,400 ERN to 14,000 ERN per month.
Apartment and house prices in Eritrea
Cost of buying a property
Studio apartment | 110,000 ERN | 170,000 ERN | 340,000 ERN |
1-bedroom apartment | 140,000 ERN | 230,000 ERN | 860,000 ERN |
2-bedroom apartment | 230,000 ERN | 690,000 ERN | 1.4M ERN |
3-bedroom apartment | 760,000 ERN | 1.1M ERN | 3.4M ERN |
Townhouse | 980,000 ERN | 2.3M ERN | 8.6M ERN |
| $65,000 | $150,000 | $570,000 |
House | 1.1M ERN | 6.9M ERN | 9.8M ERN |
| $76,000 | $460,000 | $650,000 |
Villa | 1.4M ERN | 7.6M ERN | 11M ERN |
| $91,000 | $510,000 | $760,000 |
The average price of a studio apartment in Eritrea can range from 110,000 ERN to 340,000 ERN depending on location. One bedroom cost can be anywhere from 140,000 ERN to 860,000 ERN. A villa can cost you 7.6M ERN on average with prices ranging from 1.4M ERN to 11M ERN.
If you're leasing or purchasing, housing costs in Eritrea 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
| 27 | x73 monthly income | 184 |
Property prices in Eritrea can be x73 to x184 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x73 multiples of the average monthly salary in Eritrea.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Eritrea is around 27%. This means that people pay 27% of their income for rent. Those figures can range from 17% to 37% 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
25% 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 Eritrea
Housing28%
28% of total expenses on average (16% to 40%)
| LOW | $38 570 ERN |
| AVERAGE | $110 1,700 ERN |
| HIGH | $760 11,000 ERN |
| Per Month |
Utilities, Electricity, Water9%
9% of total expenses on average (5% to 14%)
| LOW | $6.3 95 ERN |
| AVERAGE | $19 290 ERN |
| HIGH | $130 1,900 ERN |
| Per Month |
Transport, Fuel4%
4% of total expenses on average (2% to 10%)
| LOW | $8.5 130 ERN |
| AVERAGE | $25 380 ERN |
| HIGH | $170 2,500 ERN |
| Per Month |
Food and Groceries20%
20% of total expenses on average (14% to 25%)
| LOW | $17 250 ERN |
| AVERAGE | $51 760 ERN |
| HIGH | $340 5,100 ERN |
| Per Month |
Healthcare13%
13% of total expenses on average (7% to 17%)
| LOW | $9.5 140 ERN |
| AVERAGE | $29 430 ERN |
| HIGH | $190 2,900 ERN |
| Per Month |
Leisure, Shopping2%
2% of total expenses on average (2% to 5%)
| LOW | $5.3 79 ERN |
| AVERAGE | $16 240 ERN |
| HIGH | $110 1,600 ERN |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
| LOW | $2.1 32 ERN |
| AVERAGE | $6.3 95 ERN |
| HIGH | $42 630 ERN |
| Per Month |
Other Expenses23%
23% of total expenses on average (15% to 27%)
| LOW | $19 290 ERN |
| AVERAGE | $57 860 ERN |
| HIGH | $380 5,700 ERN |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Eritrea
Housing25%
25% of total expenses on average (18% to 35%)
| LOW | $58 870 ERN |
| AVERAGE | $170 2,600 ERN |
| HIGH | $930 14,000 ERN |
| Per Month |
Utilities, Electricity, Water8%
8% of total expenses on average (6% to 12%)
| LOW | $8.8 130 ERN |
| AVERAGE | $26 400 ERN |
| HIGH | $140 2,100 ERN |
| Per Month |
Transport, Fuel8%
8% of total expenses on average (2% to 13%)
| LOW | $21 320 ERN |
| AVERAGE | $63 950 ERN |
| HIGH | $340 5,100 ERN |
| Per Month |
Food and Groceries18%
18% of total expenses on average (13% to 23%)
| LOW | $25 370 ERN |
| AVERAGE | $74 1,100 ERN |
| HIGH | $390 5,900 ERN |
| Per Month |
Healthcare15%
15% of total expenses on average (9% to 19%)
| LOW | $19 290 ERN |
| AVERAGE | $58 870 ERN |
| HIGH | $310 4,700 ERN |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (1% to 6%)
| LOW | $11 160 ERN |
| AVERAGE | $32 480 ERN |
| HIGH | $170 2,500 ERN |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
| LOW | $3.5 53 ERN |
| AVERAGE | $11 160 ERN |
| HIGH | $56 850 ERN |
| Per Month |
Other Expenses22%
22% of total expenses on average (16% to 28%)
| LOW | $30 450 ERN |
| AVERAGE | $90 1,300 ERN |
| HIGH | $480 7,200 ERN |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Eritrea
Housing24%
24% of total expenses on average (19% to 34%)
| LOW | $79 1,200 ERN |
| AVERAGE | $230 3,400 ERN |
| HIGH | $1,200 19,000 ERN |
| Per Month |
Transport, Fuel4%
4% of total expenses on average (2% to 6%)
| LOW | $20 300 ERN |
| AVERAGE | $56 850 ERN |
| HIGH | $310 4,700 ERN |
| Per Month |
Food and Groceries22%
22% of total expenses on average (15% to 28%)
| LOW | $44 670 ERN |
| AVERAGE | $130 1,900 ERN |
| HIGH | $700 10,000 ERN |
| Per Month |
Healthcare12%
12% of total expenses on average (8% to 17%)
| LOW | $20 300 ERN |
| AVERAGE | $56 850 ERN |
| HIGH | $310 4,700 ERN |
| Per Month |
Leisure, Shopping2%
2% of total expenses on average (1% to 6%)
| LOW | $12 180 ERN |
| AVERAGE | $35 530 ERN |
| HIGH | $190 2,900 ERN |
| Per Month |
Education13%
13% of total expenses on average (6% to 21%)
| LOW | $35 520 ERN |
| AVERAGE | $99 1,500 ERN |
| HIGH | $540 8,100 ERN |
| Per Month |
Other Expenses17%
17% of total expenses on average (10% to 22%)
| LOW | $30 440 ERN |
| AVERAGE | $85 1,300 ERN |
| HIGH | $470 7,000 ERN |
| Per Month |
StudentCost of living and expenses break down for students living in Eritrea
Housing16%
16% of total expenses on average (11% to 22%)
| LOW | $20 300 ERN |
| AVERAGE | $49 740 ERN |
| HIGH | $89 1,300 ERN |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (5% to 11%)
| LOW | $3.3 49 ERN |
| AVERAGE | $8.2 120 ERN |
| HIGH | $15 220 ERN |
| Per Month |
Transport, Fuel3%
3% of total expenses on average (4% to 9%)
| LOW | $5.8 86 ERN |
| AVERAGE | $14 220 ERN |
| HIGH | $26 390 ERN |
| Per Month |
Food and Groceries24%
24% of total expenses on average (18% to 28%)
| LOW | $16 250 ERN |
| AVERAGE | $41 620 ERN |
| HIGH | $74 1,100 ERN |
| Per Month |
Healthcare10%
10% of total expenses on average (7% to 13%)
| LOW | $4.9 74 ERN |
| AVERAGE | $12 190 ERN |
| HIGH | $22 330 ERN |
| Per Month |
Leisure, Shopping2%
2% of total expenses on average (1% to 6%)
| LOW | $4.1 62 ERN |
| AVERAGE | $10 150 ERN |
| HIGH | $19 280 ERN |
| Per Month |
Education18%
18% of total expenses on average (11% to 23%)
| LOW | $16 230 ERN |
| AVERAGE | $39 590 ERN |
| HIGH | $70 1,100 ERN |
| Per Month |
Other Expenses20%
20% of total expenses on average (14% to 26%)
| LOW | $12 190 ERN |
| AVERAGE | $31 460 ERN |
| HIGH | $56 830 ERN |
| Per Month |
