Cost Of Living For a Family in Huancayo 2024

Family cost of living chart - average monthly expenditure in Huancayo

Average monthly spending for families in Huancayo

We consider a family to be a member of four members, two adults and two children. This is the most common type of family. From the figures below, it should be fairly easy to calculate the average spending for families of different sizes.

Average Monthly Expenditure

Currency: PEN
6,000 17,000 110,000
MINIMUM AVERAGE MAXIMUM
$1,600 $4,500 $29,000

How much money does a family need in a month to survive in Huancayo?

Families in Huancayo spend around 17,000 PEN per month on average. Depending on the lifestyle, a family can survive with a monthly budget as low as 6,000 PEN or as high as 110,000 PEN. Location and income are very important factors and have a huge influence on expenditure and budget.


Prices and cost of goods and services in Huancayo


Chart showing the prices and cost of grocery, food, restaurant meals, market, and beverages in Huancayo

Dining, food, and beverages costs


Fast food combo meal

12 PEN 24 PEN 39 PEN
MINIMUM AVERAGE MAXIMUM
$3.1 $6.2 $10

Restaurant meal for one

39 PEN 58 PEN 120 PEN
MINIMUM AVERAGE MAXIMUM
$10 $15 $31

Fine dining meal for one

78 PEN 120 PEN 470 PEN
MINIMUM AVERAGE MAXIMUM
$21 $31 $120

Cappuccino or latte

9.8 PEN 16 PEN 24 PEN
MINIMUM AVERAGE MAXIMUM
$2.6 $4.2 $6.2

Grocery and market costs


Milk large bottle

7.8 PEN 9.4 PEN 12 PEN
MINIMUM AVERAGE MAXIMUM
$2.1 $2.5 $3.1

12 eggs

5.9 PEN 7.8 PEN 12 PEN
MINIMUM AVERAGE MAXIMUM
$1.6 $2.1 $3.1

Fresh whole chicken

13 PEN 17 PEN 24 PEN
MINIMUM AVERAGE MAXIMUM
$3.5 $4.6 $6.5

Pack of beef

16 PEN 24 PEN 47 PEN
MINIMUM AVERAGE MAXIMUM
$4.2 $6.2 $12

Medium bag of rice

6.3 PEN 8.6 PEN 12 PEN
MINIMUM AVERAGE MAXIMUM
$1.7 $2.3 $3.2

Bag of tomatos

2.4 PEN 3.1 PEN 5.9 PEN
MINIMUM AVERAGE MAXIMUM
$0.62 $0.83 $1.6

Bag of apples

4.2 PEN 5.5 PEN 9 PEN
MINIMUM AVERAGE MAXIMUM
$1.1 $1.5 $2.4
Chart showing the prices and cost of commute, travel, and transportation in Huancayo


Commute, travel, and transportation costs


20 minutes taxi ride

9.7 PEN 12 PEN 23 PEN
MINIMUM AVERAGE MAXIMUM
$2.6 $3.1 $6.2

Average car full tank

59 PEN 78 PEN 160 PEN
MINIMUM AVERAGE MAXIMUM
$16 $21 $42

Average car 1-day rental

58 PEN 77 PEN 120 PEN
MINIMUM AVERAGE MAXIMUM
$15 $20 $31

Average car price

29,000 PEN 59,000 PEN 78,000 PEN
MINIMUM AVERAGE MAXIMUM
$7,800 $16,000 $21,000

Bus ticket one way

1.9 PEN 2.9 PEN 5.8 PEN
MINIMUM AVERAGE MAXIMUM
$0.51 $0.76 $1.5

Car Service

77 PEN 120 PEN 230 PEN
MINIMUM AVERAGE MAXIMUM
$20 $31 $61
Chart showing the prices and cost of utility, energy, water, and gas in Huancayo


Utility cost (monthly)


Utility Bill - Family

300 PEN 860 PEN 5,600 PEN
MINIMUM AVERAGE MAXIMUM
$79 $230 $1,500

Internet and cable

59 PEN 120 PEN 160 PEN
MINIMUM AVERAGE MAXIMUM
$16 $31 $42

Mobile phone charges

47 PEN 78 PEN 240 PEN
MINIMUM AVERAGE MAXIMUM
$12 $21 $62

Leisure and activities costs


Movie ticket

29 PEN 39 PEN 59 PEN
MINIMUM AVERAGE MAXIMUM
$7.8 $10 $16

One month gym membership

92 PEN 120 PEN 230 PEN
MINIMUM AVERAGE MAXIMUM
$24 $31 $61
Chart showing the prices and cost of clothing and accessories in Huancayo


Cloths and accessories costs


Pair of jeans or pants

68 PEN 96 PEN 140 PEN
MINIMUM AVERAGE MAXIMUM
$18 $25 $38

Woman dress

64 PEN 89 PEN 290 PEN
MINIMUM AVERAGE MAXIMUM
$17 $23 $76

Woman shoes

61 PEN 82 PEN 190 PEN
MINIMUM AVERAGE MAXIMUM
$16 $22 $51

Men's shoes

52 PEN 64 PEN 130 PEN
MINIMUM AVERAGE MAXIMUM
$14 $17 $34

Men suit

58 PEN 72 PEN 380 PEN
MINIMUM AVERAGE MAXIMUM
$15 $19 $100

Regular t-shirt

29 PEN 38 PEN 120 PEN
MINIMUM AVERAGE MAXIMUM
$7.6 $10 $31
Chart showing the prices and cost of housing, accommodation, and rent in Huancayo


Housing costs / monthly rent


Studio apartment

960 PEN 1,400 PEN 3,800 PEN
MINIMUM AVERAGE MAXIMUM
$250 $380 $1,000

1-bedroom apartment

1,400 PEN 2,300 PEN 5,800 PEN
MINIMUM AVERAGE MAXIMUM
$380 $610 $1,500

2-bedroom apartment

1,900 PEN 2,900 PEN 7,700 PEN
MINIMUM AVERAGE MAXIMUM
$510 $760 $2,000

Housing costs / Buying


Studio apartment

190,000 PEN 290,000 PEN 580,000 PEN
MINIMUM AVERAGE MAXIMUM
$51,000 $76,000 $150,000

1-bedroom apartment

230,000 PEN 380,000 PEN 1.4M PEN
MINIMUM AVERAGE MAXIMUM
$61,000 $100,000 $380,000

2-bedroom apartment

380,000 PEN 1.2M PEN 2.3M PEN
MINIMUM AVERAGE MAXIMUM
$100,000 $310,000 $610,000
Chart showing the prices and cost of furniture in Huancayo


Furniture Costs


King Size Bed

1,200 PEN 1,500 PEN 2,000 PEN
MINIMUM AVERAGE MAXIMUM
$310 $390 $520

Double Bed

780 PEN 1,200 PEN 1,500 PEN
MINIMUM AVERAGE MAXIMUM
$210 $310 $390

Single Bed

690 PEN 900 PEN 1,200 PEN
MINIMUM AVERAGE MAXIMUM
$180 $240 $310

Living Room

1,300 PEN 1,700 PEN 5,900 PEN
MINIMUM AVERAGE MAXIMUM
$350 $440 $1,600

Dining Table

590 PEN 780 PEN 1,500 PEN
MINIMUM AVERAGE MAXIMUM
$160 $210 $390

Sofa or Couch

780 PEN 1,100 PEN 2,400 PEN
MINIMUM AVERAGE MAXIMUM
$210 $280 $620
Chart showing the prices and cost of electronic devices and appliances in Huancayo


Electronics and House Appliance Costs


TV Set

780 PEN 1,200 PEN 2,400 PEN
MINIMUM AVERAGE MAXIMUM
$210 $310 $620

Fridge or Freezer

690 PEN 1,100 PEN 1,500 PEN
MINIMUM AVERAGE MAXIMUM
$180 $280 $390

Washing Machine

900 PEN 1,300 PEN 2,400 PEN
MINIMUM AVERAGE MAXIMUM
$240 $350 $620

Stove or Cooker

840 PEN 1,100 PEN 1,500 PEN
MINIMUM AVERAGE MAXIMUM
$220 $280 $390

Mobile Phone

980 PEN 1,200 PEN 1,700 PEN
MINIMUM AVERAGE MAXIMUM
$260 $310 $440

Laptop or Computer

1,100 PEN 1,300 PEN 2,400 PEN
MINIMUM AVERAGE MAXIMUM
$280 $350 $620
Family cost of living and expenditure to income ratio in Huancayo

Family expenditure to income ratio in Huancayo

Analysing the how affordable it is for families to live in Huancayo

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


Spending to Income Ratio

90%

81% to 100%

( expenditure / income ) x 100


Families in Huancayo spend around 90% of their monthly income. Some families spend as low as 81% of their income while some as high as 100%.

Distribution of monthly cost of living expenses of a family in Huancayo

How do families spend their money in Huancayo?

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


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 and accomodation expenditure for families

Accomodation Cost27%

27% of total expenses on average (22% to 37%)

LOW$510   1,900 PEN
AVERAGE$1,500   5,500 PEN
HIGH$9,400   36,000 PEN
Per Month

Families in Huancayo typically spend from 22% to 37% of their total monthly expenditure on housing with 27% being the average. The average monthly spend on housing is 5,500 PEN with expenditure ranging from 1,900 PEN to 36,000 PEN. This cost mainly goes for rent but it also includes other accommodation-related expenses.

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

Cost of utilities5%

5% of total expenses on average (3% to 8%)

LOW$79   300 PEN
AVERAGE$230   860 PEN
HIGH$1,500   5,600 PEN
Per Month

Utility expenditure like electricity, water, and gas in Huancayo ranges from 3% to 8% of total expenses with 5% being the average for most families. The average monthly cost of utilities is 860 PEN with 300 PEN and 5,600 PEN being the upper and lower limits for a family of four.

Transport, fuel, and commute expenditure for families

Cost of transport and fuel6%

6% of total expenses on average (4% to 8%)

LOW$160   600 PEN
AVERAGE$450   1,700 PEN
HIGH$2,900   11,000 PEN
Per Month

Fuel consumption and cost of transport depend heavily on whether a family resides near school and work, but roughly speaking a family would expect to spend from 600 PEN to 11,000 PEN in a month on commuting with 1,700 PEN being the norm for most families. This means that money spent on transport constitutes about 6% of total spending on average but can go as low as 4% or as high as 8%.

Food, groceries, and basic shopping expenditure for families

Food and Groceries Cost20%

20% of total expenses on average (13% to 26%)

LOW$290   1,100 PEN
AVERAGE$820   3,100 PEN
HIGH$5,300   20,000 PEN
Per Month

The average outlay on groceries and basic houshold items for a typical family in a month in Huancayo is 3,100 PEN. The cost of groceries can range between 1,100 PEN to 20,000 PEN. Families spend on average about 20% on food and groceries with upper and lower bounds of 13% and 26% respectively.

Healthcare and medical services expenditure for families

Cost of healthcare10%

10% of total expenses on average (6% to 15%)

LOW$140   540 PEN
AVERAGE$450   1,700 PEN
HIGH$2,400   8,900 PEN
Per Month

Families in Huancayo allocate 6% to 15% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 10%. The range of medical expenses range from 540 PEN to 8,900 PEN with 1,700 PEN being the norm for most families.

Leisure and shopping expenditure for families

Cost of leisure and shopping3%

3% of total expenses on average (2% to 7%)

LOW$79   300 PEN
AVERAGE$230   860 PEN
HIGH$1,500   5,600 PEN
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 300 PEN to 5,600 PEN with 860 PEN being the average. Speaking of percentages, that equates to 2% to 7% of total expenses with an average of 3% for most families.

Education and schooling expenditure for families

Cost of education and schooling14%

14% of total expenses on average (7% to 22%)

LOW$220   840 PEN
AVERAGE$640   2,400 PEN
HIGH$4,100   16,000 PEN
Per Month

Spending on education can vary drastically between different families. On average, education constitutes 14% of the monthly expenditure of families with 7% and 22% being the lower and upper bounds respectively. The average reported education cost is 2,400 PEN per month with 840 PEN being the minimum spent amount and 16,000 PEN being the maximum.

Other Expenses15%

15% of total expenses on average (8% to 20%)

LOW$130   480 PEN
AVERAGE$360   1,400 PEN
HIGH$2,400   8,900 PEN
Per Month
Percentage of families who manage to save money from their income every month in Huancayo

What percentage of families in Huancayo are able to save money and how much can they save?


Percentage of families that reported their ability to save money


Saving Money
55%
Not Saving
45%

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


Family savings to income ratio in Huancayo

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.


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

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.

Saving to Income Ratio

12% 21% of income 31%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

2,100 PEN
$550
5,900 PEN
$1,600
39,000 PEN
$10,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%37%
10% - 20%29%
20% - 30%20%
30% - 40%7%
40% - 50%5%
> 50%2%

Interpretation and Analysis

Families that are able to save money can put anywhere from 12% to 31% of their monthly income to their savings, with 21% being the average for most families. The average monthly amount of money that families can put aside is 5,900 PEN with 2,100 PEN and 39,000 PEN being the minimum and maximum respectively.

Reasons that make it difficult for families to save money in Huancayo

Saving Challenges in Huancayo

Reasons that make it difficult for families to save money

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


Reason% People
Low Income6%
High Expenses9%
Debt and Loans16%
Lack of Budgeting Skills11%
Impulsive Spending10%
Financial Emergencies6%
Living the moment6%
Will do it later19%
Inflation12%
Social Pressure3%
Market Instability3%

Around 6% of the families said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 16% of the residents said that they are burdened with debt and find it challenging to save money. 11% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 10% of families blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 19% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 12% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Where do families choose to put their savings in Huancayo

Typical saving choices for families in Huancayo

Where do people choose to put their savings?


Saving Type% People
Emergency Funds11%
Gold11%
Savings Accounts17%
Retirement Accounts11%
Cash Savings18%
Real Estate10%
Investment6%
Stocks5%
Bonds6%
Mutual Funds3%
Certificates of Deposit3%
A typical and healthy budgeting structure. The 50-30-20 rule

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.

Income and cost of living compatibility. Is it affordable or economical for families to live in Huancayo

Affordable living in Huancayo

Income and cost of living compatibility

We asked families one simple question and recorded their answers.

Is it affordable or economical to live in Huancayo?


Yes
66%
No
34%

Around 66% of surveyed families think that living in Huancayo is affordable with proper budgeting while 34% reported that it is just too expensive and not affordable even with frugality and thriftness.

How easily is cost-cutting for families. Are there plenty of low-cost options in Huancayo

Low-cost alternatives in Huancayo

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 families how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options62%

Few low-cost options39%


Based on the survey, 62% of the families living in Huancayo have no problem finding low-cost alternatives to support a frugal lifestyle while 39% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds For Families

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 families of Huancayo whether they have an emergency fund and the answers were as follows.

Yes66%

No34%


Based on the survey, 34% of the families living in Huancayo said that they don't have an emergency fund while 66% said that they do.

Financial literacy and difficulty in budgeting and financial planning for families in Huancayo

Financial Literacy in Peru

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 Leteracy59%


We asked family guardians and parents in Huancayo whether they acquired any adequate personal financial training in their lives. Approximately 41% 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 59% 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 families of Peru have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 31% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 69% said that they have everything under control.

Struggles with finance31%

Easily manages finances69%

Financial goals and targets of families living in Huancayo

Financial goals of families in Huancayo

In an attempt to understand the economic situation in Huancayo, 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 Fund7%
Debt Reduction37%
Retirement Savings9%
Education Funding8%
Homeownership17%
Investing8%
Travel or Lifestyle9%
Healthcare Expenses11%
Financial Independence7%

Around 7% of families said that their main goal is to establish an emergency fund to cover unexpected expenses while 37% said their number one priority is to pay off high-interest debt or loans and improve credit. 9% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 8% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 9% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 11% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Chart showing the percentage of families who are in debt in Huancayo

Debt, loans, and mortgages in Huancayo


Percentage of families who are in debt


In Debt
25%
Debt Free
75%

According to the survey, 25% of the families in Huancayo have some kind of debt, loan, mortgage, or credit card payments while 75% reported that they don't have financial obligations to banks.


Chart showing debt-to-income ratio in Huancayo

Debt-to-income ratio in Huancayo

Debt to income ratio

30%

21% to 39%

( 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 30% of a family's monthly income in Huancayo goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%14%
40% - 50%13%
30% - 40%15%
20% - 30%13%
10% - 20%16%
0% - 10%27%

According to our data, 3% of the debtors in Huancayo pay 60%+ of their income as debt settlement while 14% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 13% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 15% dedicated 30% to 40% of income for same. Things are looking brighter for 13% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Huancayo

Debt% People
Real Estate Mortgage11%
Auto Loan19%
Student Loan3%
Credit Card27%
Personal Loan39%

11% of debtors in Huancayo confirm that real estate mortgages constitutes the main part of their outstanding debt while 27% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 19% of people and personal loans rose at 39%. Lastly, student loans are the main source of debt for 3% of debtors in Huancayo.


About credit score and debt management

Managing 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 Huancayo

Besides measuring the loan-to-income ratio, we asked families of Huancayo 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
Never53%
Once a year23%
Twice a year12%
Three times a year8%
Four times a year4%
Housing and accommodation affordability, property price to income ratio, rent to income ratio, and housing affordability index chart in Huancayo

Housing costs, accommodation, and housing affordability in Huancayo

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Huancayo

Monthly Rent Prices

Studio apartment monthly rent cost

960 PEN 1,400 PEN 3,800 PEN
MINIMUM AVERAGE MAXIMUM
$250 $380 $1,000

1-bedroom apartment monthly rent cost

1,400 PEN 2,300 PEN 5,800 PEN
MINIMUM AVERAGE MAXIMUM
$380 $610 $1,500

2-bedroom apartment monthly rent cost

1,900 PEN 2,900 PEN 7,700 PEN
MINIMUM AVERAGE MAXIMUM
$510 $760 $2,000

3-bedroom apartment monthly rent cost

2,300 PEN 3,800 PEN 10,000 PEN
MINIMUM AVERAGE MAXIMUM
$610 $1,000 $2,800

Furnished apartment monthly rent cost

4,600 PEN 12,000 PEN 23,000 PEN
MINIMUM AVERAGE MAXIMUM
$1,200 $3,100 $6,100

Townhouse monthly rent cost

3,800 PEN 5,800 PEN 16,000 PEN
MINIMUM AVERAGE MAXIMUM
$1,000 $1,500 $4,400

House monthly rent cost

4,600 PEN 12,000 PEN 23,000 PEN
MINIMUM AVERAGE MAXIMUM
$1,200 $3,100 $6,100

Villa monthly rent cost

5,800 PEN 14,000 PEN 23,000 PEN
MINIMUM AVERAGE MAXIMUM
$1,500 $3,800 $6,100

The monthly rental cost of a studio apartment in Huancayo ranges between 960 PEN and 3,800 PEN, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 1,400 PEN to 5,800 PEN. Two-bedroom rentals rate ranges between 1,900 PEN and 7,700 PEN per month. The monthly rental for a three-bedroom apartment ranges from 2,300 PEN to 10,000 PEN. The average rent of a townhouse in Huancayo is around 5,800 PEN while house rental costs can be as high as 12,000 PEN per month. Finally, if you want to rent a villa, expect to pay anywhere from 5,800 PEN to 23,000 PEN per month.



Apartment and house prices in Huancayo

Cost of buying a property

Studio apartment price

190,000 PEN 290,000 PEN 580,000 PEN
MINIMUM AVERAGE MAXIMUM
$51,000 $76,000 $150,000

1-bedroom apartment price

230,000 PEN 380,000 PEN 1.4M PEN
MINIMUM AVERAGE MAXIMUM
$61,000 $100,000 $380,000

2-bedroom apartment price

380,000 PEN 1.2M PEN 2.3M PEN
MINIMUM AVERAGE MAXIMUM
$100,000 $310,000 $610,000

3-bedroom apartment price

1.3M PEN 1.9M PEN 5.8M PEN
MINIMUM AVERAGE MAXIMUM
$340,000 $510,000 $1.5M

Townhouse price

1.6M PEN 3.8M PEN 14M PEN
MINIMUM AVERAGE MAXIMUM
$440,000 $1M $3.8M

House price

1.9M PEN 12M PEN 16M PEN
MINIMUM AVERAGE MAXIMUM
$510,000 $3.1M $4.4M

Villa price

2.3M PEN 13M PEN 19M PEN
MINIMUM AVERAGE MAXIMUM
$610,000 $3.4M $5.1M

The average price of a studio apartment in Huancayo can range from 190,000 PEN to 580,000 PEN depending on location. One bedroom cost can be anywhere from 230,000 PEN to 1.4M PEN. A villa can cost you 13M PEN on average with prices ranging from 2.3M PEN to 19M PEN.


If you're leasing or purchasing, housing costs in Huancayo 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


41 x120 monthly income 215
MINIMUM AVERAGE MAXIMUM

Property prices in Huancayo can be x120 to x215 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x120 multiples of the average monthly salary in Huancayo.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


23% 33% of income 43%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Huancayo is around 33%. This means that people pay 33% of their income for rent. Those figures can range from 23% to 43% 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
30%

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.


FROM
2.3%
AVERAGE
3.3%
TO
4.4%

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.


17 PEN 220 PEN 2,200 PEN
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Huancayo

Utilities expenditure can vary slightly between different areas and locations.


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

Utility Bill Cost / Electricity + Water + Gas / Family

300 PEN 860 PEN 5,600 PEN
MINIMUM AVERAGE MAXIMUM
$79 $230 $1,500

Internet and cable cost

59 PEN 120 PEN 160 PEN
MINIMUM AVERAGE MAXIMUM
$16 $31 $42

Mobile phone bill and charges

47 PEN 78 PEN 240 PEN
MINIMUM AVERAGE MAXIMUM
$12 $21 $62

Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.


The average monthly energy and water consumption of families is around 860 PEN. The cost of internet and WiFi ranges from 59 PEN to 160 PEN with 120 PEN being the average internet bill. Finally, the average monthly mobile charges is around 78 PEN but can range between 47 PEN and 240 PEN depending on consumption. Mobile charges include both calling minutes as well as data packages.


Energy / Utility expense to income ratio


( monthly utility expenses / monthly income ) x 100


2.1% 5.1% of income 9.2%
MINIMUM AVERAGE MAXIMUM

The average utility-to-income ratio in Huancayo is around 5.1%. This means that people pay 5.1% of their income for energy, water, internet, and mobile charges. Those figures can range from 2.1% to 9.2% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Huancayo

Grocery / Food expenditure and prices can vary drastically between different areas and locations.


Prices and cost of goods and services in Huancayo

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

Fast food combo meal price

12 PEN 24 PEN 39 PEN
MINIMUM AVERAGE MAXIMUM
$3.1 $6.2 $10

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Huancayo is approximatly 24 PEN with meal cost ranging from 12 PEN to 39 PEN. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

39 PEN 58 PEN 120 PEN
MINIMUM AVERAGE MAXIMUM
$10 $15 $31

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 39 PEN and 120 PEN with 58 PEN being the average price of a plate for one person at a regular restaurant in Huancayo.

Fine dining meal for one price

78 PEN 120 PEN 470 PEN
MINIMUM AVERAGE MAXIMUM
$21 $31 $120

The price range of a meal at fine-dining restaurant is 78 PEN to 470 PEN with the average cost being 120 PEN for one person. This is what you would expect to pay a top-tier diner in Huancayo.

Beverage prices, cappuccino, latte etc..

9.8 PEN 16 PEN 24 PEN
MINIMUM AVERAGE MAXIMUM
$2.6 $4.2 $6.2

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Huancayo is around 16 PEN. Price ranges between 9.8 PEN and 24 PEN depending on the type of beverage, the size, and optional add-ons.



Grocery and market costs

Large bottle of milk price

7.8 PEN 9.4 PEN 12 PEN
MINIMUM AVERAGE MAXIMUM
$2.1 $2.5 $3.1

The average price of a large bottle of milk in Huancayo is 9.4 PEN. The maximum what you would pay for milk is 12 PEN and the minimum being 7.8 PEN depending on the brand of milk and other properties.

12 eggs price

5.9 PEN 7.8 PEN 12 PEN
MINIMUM AVERAGE MAXIMUM
$1.6 $2.1 $3.1

A dozen eggs costs around 7.8 PEN on average with 5.9 PEN and 12 PEN being the lower and upper limits respectively.

Fresh whole chicken price

13 PEN 17 PEN 24 PEN
MINIMUM AVERAGE MAXIMUM
$3.5 $4.6 $6.5

The price range of a fresh whole chicken in Huancayo is between 13 PEN and 24 PEN depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 17 PEN.

Pack of beef price

16 PEN 24 PEN 47 PEN
MINIMUM AVERAGE MAXIMUM
$4.2 $6.2 $12

The price of a regular pack of beef or meat is around 24 PEN. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

6.3 PEN 8.6 PEN 12 PEN
MINIMUM AVERAGE MAXIMUM
$1.7 $2.3 $3.2

A bag of rice in Huancayo costs around 8.6 PEN on average with prices rangeing between 6.3 PEN and 12 PEN depending on the brand and quality.

Bag of tomatos price

2.4 PEN 3.1 PEN 5.9 PEN
MINIMUM AVERAGE MAXIMUM
$0.62 $0.83 $1.6

A bag of tomatoes costs anywhere from 2.4 PEN to 5.9 PEN. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

4.2 PEN 5.5 PEN 9 PEN
MINIMUM AVERAGE MAXIMUM
$1.1 $1.5 $2.4

A bag of apples costs 5.5 PEN on average. A bag of apples denotes 1Kg or 1lb depending on location.


Grocery and food expenditure to income ratio


( monthly grocery expenses / monthly income ) x 100


19% 27% of income 33%
MINIMUM AVERAGE MAXIMUM

The average grocery-to-income ratio in Huancayo is around 27%. This means that families spend 27% of their income on grocery and basic household items. The expenditure can range from 19% to 33% depending on salary and location.


Expenditure on food and grocery for families

Families' spending on grocery ranges from 1,100 PEN to 20,000 PEN with the location, income, and size of the family being the most determinite factors.

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