Cost Of Living For a Family in Russia 2024

Average monthly spending for families in Russia

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.

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

Families in Russia spend around 150,000 RUB per month on average. Depending on the lifestyle, a family can survive with a monthly budget as low as 54,000 RUB or as high as 1M RUB. Location and income are very important factors and have a huge influence on expenditure and budget.

Family expenditure to income ratio in Russia

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

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%.

Families in Russia spend around 88% of their monthly income. Some families spend as low as 80% of their income while some as high as 98%.

How do families spend their money in Russia?

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

Housing and accomodation expenditure for families

Families in Russia typically spend from 23% to 38% of their total monthly expenditure on housing with 28% being the average. The average monthly spend on housing is 50,000 RUB with expenditure ranging from 17,000 RUB to 320,000 RUB. This cost mainly goes for rent but it also includes other accommodation-related expenses.

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

Utility expenditure like electricity, water, and gas in Russia ranges from 2% to 7% of total expenses with 4% being the average for most families. The average monthly cost of utilities is 7,700 RUB with 2,700 RUB and 50,000 RUB being the upper and lower limits for a family of four.

Transport, fuel, and commute expenditure for families

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 5,400 RUB to 100,000 RUB in a month on commuting with 15,000 RUB 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

The average outlay on groceries and basic houshold items for a typical family in a month in Russia is 28,000 RUB. The cost of groceries can range between 9,800 RUB to 180,000 RUB. 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

Families in Russia 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 4,900 RUB to 81,000 RUB with 15,000 RUB being the norm for most families.

Leisure and shopping expenditure for families

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 2,700 RUB to 50,000 RUB with 7,700 RUB being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most families.

Education and schooling expenditure for families

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 22,000 RUB per month with 7,600 RUB being the minimum spent amount and 140,000 RUB being the maximum.

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

Percentage of families that reported their ability to save money

Almost 54% of surveyed families in Russia said that they can save some money at the end of each month while 46% reported that they have to utilize their whole income to survive.

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

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for families

Interpretation and Analysis

Families that are able to save money can put anywhere from 11% to 29% of their monthly income to their savings, with 19% being the average for most families. The average monthly amount of money that families can put aside is 53,000 RUB with 19,000 RUB and 350,000 RUB being the minimum and maximum respectively.

Saving Challenges in Russia

Reasons that make it difficult for families to save money

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

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. 18% of the residents said that they are burdened with debt and find it challenging to save money. 10% 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. 7% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 17% 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. 11% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Typical saving choices for families in Russia

Where do people choose to put their savings?

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

• 50% for needs and financial obligations

  This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

• 30% for wants and discretionary spending

  This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

• 20% for savings and emergency fund

  This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

Affordable living in Russia

Income and cost of living compatibility

We asked families one simple question and recorded their answers.

Is it affordable or economical to live in Russia?

Around 61% of surveyed families think that living in Russia is affordable with proper budgeting while 39% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Russia

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 options58%

Few low-cost options42%

Based on the survey, 58% of the families living in Russia have no problem finding low-cost alternatives to support a frugal lifestyle while 42% 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 Russia whether they have an emergency fund and the answers were as follows.

Yes59%

No41%

Based on the survey, 41% of the families living in Russia said that they don't have an emergency fund while 59% said that they do.

Financial Literacy in Russia

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 Leteracy56%

We asked family guardians and parents in Russia whether they acquired any adequate personal financial training in their lives. Approximately 44% 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 56% 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 Russia have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 40% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 60% said that they have everything under control.

Struggles with finance40%

Easily manages finances60%

Financial goals of families in Russia

In an attempt to understand the economic situation in Russia, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.

Around 7% of families said that their main goal is to establish an emergency fund to cover unexpected expenses while 34% said their number one priority is to pay off high-interest debt or loans and improve credit. 8% 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 10% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 9% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Debt, loans, and mortgages in Russia

Percentage of families who are in debt

According to the survey, 28% of the families in Russia have some kind of debt, loan, mortgage, or credit card payments while 72% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Russia

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 29% of a family's monthly income in Russia goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Russia pay 60%+ of their income as debt settlement while 12% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 12% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 14% dedicated 30% to 40% of income for same. Things are looking brighter for 15% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Russia

13% of debtors in Russia confirm that real estate mortgages constitutes the main part of their outstanding debt while 25% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 22% of people and personal loans rose at 37%. Lastly, student loans are the main source of debt for 3% of debtors in Russia.

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 Russia

Besides measuring the loan-to-income ratio, we asked families of Russia how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Housing costs, accommodation, and housing affordability in Russia

Rent Cost in Russia

Monthly Rent Prices

Studio apartment monthly rent cost

8,700 RUB

13,000 RUB

35,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$96

$140

$380

1-bedroom apartment monthly rent cost

13,000 RUB

21,000 RUB

52,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$140

$230

$570

2-bedroom apartment monthly rent cost

17,000 RUB

26,000 RUB

69,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$190

$290

$760

3-bedroom apartment monthly rent cost

21,000 RUB

35,000 RUB

95,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$230

$380

$1,000

Furnished apartment monthly rent cost

42,000 RUB

100,000 RUB

210,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$460

$1,100

$2,300

Townhouse monthly rent cost

35,000 RUB

52,000 RUB

150,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$380

$570

$1,600

House monthly rent cost

42,000 RUB

100,000 RUB

210,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$460

$1,100

$2,300

Villa monthly rent cost

52,000 RUB

130,000 RUB

210,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$570

$1,400

$2,300

The monthly rental cost of a studio apartment in Russia ranges between 8,700 RUB and 35,000 RUB, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 13,000 RUB to 52,000 RUB. Two-bedroom rentals rate ranges between 17,000 RUB and 69,000 RUB per month. The monthly rental for a three-bedroom apartment ranges from 21,000 RUB to 95,000 RUB. The average rent of a townhouse in Russia is around 52,000 RUB while house rental costs can be as high as 100,000 RUB per month. Finally, if you want to rent a villa, expect to pay anywhere from 52,000 RUB to 210,000 RUB per month.

Apartment and house prices in Russia

Cost of buying a property

Studio apartment price

1.7M RUB

2.6M RUB

5.2M RUB

MINIMUM

AVERAGE

MAXIMUM

$19,000

$29,000

$57,000

1-bedroom apartment price

2.1M RUB

3.5M RUB

13M RUB

MINIMUM

AVERAGE

MAXIMUM

$23,000

$38,000

$140,000

2-bedroom apartment price

3.5M RUB

10M RUB

21M RUB

MINIMUM

AVERAGE

MAXIMUM

$38,000

$110,000

$230,000

3-bedroom apartment price

12M RUB

17M RUB

52M RUB

MINIMUM

AVERAGE

MAXIMUM

$130,000

$190,000

$570,000

Townhouse price

15M RUB

35M RUB

130M RUB

MINIMUM

AVERAGE

MAXIMUM

$160,000

$380,000

$1.4M

House price

17M RUB

100M RUB

150M RUB

MINIMUM

AVERAGE

MAXIMUM

$190,000

$1.1M

$1.6M

Villa price

21M RUB

120M RUB

170M RUB

MINIMUM

AVERAGE

MAXIMUM

$230,000

$1.3M

$1.9M

The average price of a studio apartment in Russia can range from 1.7M RUB to 5.2M RUB depending on location. One bedroom cost can be anywhere from 2.1M RUB to 13M RUB. A villa can cost you 120M RUB on average with prices ranging from 21M RUB to 170M RUB.

House / apartment prices to income ratio

Property prices in Russia can be x114 to x208 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x114 multiples of the average monthly salary in Russia.

Rent to income ratio

The average rent-to-income ratio in Russia is around 31%. This means that people pay 31% of their income for rent. Those figures can range from 21% to 41% depending on the salary, location, and type of property.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.

Urban vs. rural living costs

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

Monthly costs and expenses of energy and basic utilities in Russia

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

Utility Bill Cost / Electricity + Water + Gas / Family

2,700 RUB

7,700 RUB

50,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$30

$85

$550

Internet and cable cost

520 RUB

1,000 RUB

1,400 RUB

MINIMUM

AVERAGE

MAXIMUM

$5.7

$11

$15

Mobile phone bill and charges

420 RUB

690 RUB

2,100 RUB

MINIMUM

AVERAGE

MAXIMUM

$4.6

$7.6

$23

The average monthly energy and water consumption of families is around 7,700 RUB. The cost of internet and WiFi ranges from 520 RUB to 1,400 RUB with 1,000 RUB being the average internet bill. Finally, the average monthly mobile charges is around 690 RUB but can range between 420 RUB and 2,100 RUB depending on consumption. Mobile charges include both calling minutes as well as data packages.

Energy / Utility expense to income ratio

The average utility-to-income ratio in Russia is around 5%. This means that people pay 5% of their income for energy, water, internet, and mobile charges. Those figures can range from 2% to 9% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Russia

Prices and cost of goods and services in Russia

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

Fast food combo meal price

100 RUB

210 RUB

350 RUB

MINIMUM

AVERAGE

MAXIMUM

$1.1

$2.3

$3.8

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Russia is approximatly 210 RUB with meal cost ranging from 100 RUB to 350 RUB. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

350 RUB

520 RUB

1,000 RUB

MINIMUM

AVERAGE

MAXIMUM

$3.8

$5.7

$11

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 350 RUB and 1,000 RUB with 520 RUB being the average price of a plate for one person at a regular restaurant in Russia.

Fine dining meal for one price

690 RUB

1,000 RUB

4,200 RUB

MINIMUM

AVERAGE

MAXIMUM

$7.6

$11

$46

The price range of a meal at fine-dining restaurant is 690 RUB to 4,200 RUB with the average cost being 1,000 RUB for one person. This is what you would expect to pay a top-tier diner in Russia.

Beverage prices, cappuccino, latte etc..

87 RUB

140 RUB

210 RUB

MINIMUM

AVERAGE

MAXIMUM

$0.96

$1.5

$2.3

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Russia is around 140 RUB. Price ranges between 87 RUB and 210 RUB depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

69 RUB

83 RUB

100 RUB

MINIMUM

AVERAGE

MAXIMUM

$0.76

$0.92

$1.1

The average price of a large bottle of milk in Russia is 83 RUB. The maximum what you would pay for milk is 100 RUB and the minimum being 69 RUB depending on the brand of milk and other properties.

12 eggs price

52 RUB

69 RUB

100 RUB

MINIMUM

AVERAGE

MAXIMUM

$0.57

$0.76

$1.1

A dozen eggs costs around 69 RUB on average with 52 RUB and 100 RUB being the lower and upper limits respectively.

Fresh whole chicken price

120 RUB

150 RUB

220 RUB

MINIMUM

AVERAGE

MAXIMUM

$1.3

$1.7

$2.4

The price range of a fresh whole chicken in Russia is between 120 RUB and 220 RUB depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 150 RUB.

Pack of beef price

140 RUB

210 RUB

420 RUB

MINIMUM

AVERAGE

MAXIMUM

$1.5

$2.3

$4.6

The price of a regular pack of beef or meat is around 210 RUB. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

56 RUB

77 RUB

110 RUB

MINIMUM

AVERAGE

MAXIMUM

$0.62

$0.84

$1.2

A bag of rice in Russia costs around 77 RUB on average with prices rangeing between 56 RUB and 110 RUB depending on the brand and quality.

Bag of tomatos price

21 RUB

28 RUB

52 RUB

MINIMUM

AVERAGE

MAXIMUM

$0.23

$0.31

$0.57

A bag of tomatoes costs anywhere from 21 RUB to 52 RUB. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

37 RUB

49 RUB

80 RUB

MINIMUM

AVERAGE

MAXIMUM

$0.41

$0.54

$0.88

A bag of apples costs 49 RUB on average. A bag of apples denotes 1Kg or 1lb depending on location.

Grocery and food expenditure to income ratio

The average grocery-to-income ratio in Russia is around 26%. This means that families spend 26% of their income on grocery and basic household items. The expenditure can range from 18% to 32% depending on salary and location.

Expenditure on food and grocery for families