Cost Of Living in Guyana 2025

Average monthly spending for singles, couples, students, and families in Guyana

Whether you're living in Guyana 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.

FamilyAverage monthly expenses and break out of spending for families living in Guyana

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

Yes53%

No47%

Based on the survey, 47% of the people living in Guyana said that they don't have an emergency fund while 53% said that they do.

Singles

The average monthly expense for a single person living in Guyana is 120,000 GYD. Expenses can range from 17,000 GYD at the minimum level to 800,000 GYD at the highest end.

Couples

The average monthly spending of couples in Guyana is 200,000 GYD. Expenditure can range from 66,000 GYD to 1.1M GYD per month.

Families

The average cost of living for families in Guyana is 270,000 GYD per month. Families spend anywhere from 93,000 GYD to 1.7M GYD.

Students

The average monthly expenditure for students in Guyana is 88,000 GYD. Students spend from 13,000 GYD to 590,000 GYD per month.

Food Prices, Dining Expenses, and Grocery Costs in Guyana

Prices and cost of goods and services in Guyana

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

Fast food combo meal price

180 GYD

350 GYD

590 GYD

MINIMUM

AVERAGE

MAXIMUM

$0.84

$1.7

$2.8

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Guyana is approximatly 350 GYD with meal cost ranging from 180 GYD to 590 GYD. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

590 GYD

880 GYD

1,800 GYD

MINIMUM

AVERAGE

MAXIMUM

$2.8

$4.2

$8.4

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 590 GYD and 1,800 GYD with 880 GYD being the average price of a plate for one person at a regular restaurant in Guyana.

Fine dining meal for one price

1,200 GYD

1,800 GYD

7,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$5.6

$8.4

$34

The price range of a meal at fine-dining restaurant is 1,200 GYD to 7,000 GYD with the average cost being 1,800 GYD for one person. This is what you would expect to pay a top-tier diner in Guyana.

Beverage prices, cappuccino, latte etc..

150 GYD

230 GYD

350 GYD

MINIMUM

AVERAGE

MAXIMUM

$0.70

$1.1

$1.7

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Guyana is around 230 GYD. Price ranges between 150 GYD and 350 GYD depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

120 GYD

140 GYD

180 GYD

MINIMUM

AVERAGE

MAXIMUM

$0.56

$0.67

$0.84

The average price of a large bottle of milk in Guyana is 140 GYD. The maximum what you would pay for milk is 180 GYD and the minimum being 120 GYD depending on the brand of milk and other properties.

12 eggs price

88 GYD

120 GYD

180 GYD

MINIMUM

AVERAGE

MAXIMUM

$0.42

$0.56

$0.84

A dozen eggs costs around 120 GYD on average with 88 GYD and 180 GYD being the lower and upper limits respectively.

Fresh whole chicken price

200 GYD

260 GYD

370 GYD

MINIMUM

AVERAGE

MAXIMUM

$0.96

$1.2

$1.8

The price range of a fresh whole chicken in Guyana is between 200 GYD and 370 GYD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 260 GYD.

Pack of beef price

230 GYD

350 GYD

700 GYD

MINIMUM

AVERAGE

MAXIMUM

$1.1

$1.7

$3.4

The price of a regular pack of beef or meat is around 350 GYD. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

95 GYD

130 GYD

180 GYD

MINIMUM

AVERAGE

MAXIMUM

$0.45

$0.62

$0.88

A bag of rice in Guyana costs around 130 GYD on average with prices rangeing between 95 GYD and 180 GYD depending on the brand and quality.

Bag of tomatos price

35 GYD

47 GYD

88 GYD

MINIMUM

AVERAGE

MAXIMUM

$0.17

$0.22

$0.42

A bag of tomatoes costs anywhere from 35 GYD to 88 GYD. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

63 GYD

82 GYD

140 GYD

MINIMUM

AVERAGE

MAXIMUM

$0.30

$0.39

$0.65

A bag of apples costs 82 GYD 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 Guyana is around 27%. This means that people 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 every population group

A single person living alone spends approximately 19,000 GYD per month on grocery and food with expenditure fluctuating between 2,700 GYD and 130,000 GYD depending on location and the type of person. The average cost of food and groceries for a couple is around 28,000 GYD per month. That number can be get as low as 9,300 GYD or a high as 150,000 GYD. Families' spending on grocery ranges from 17,000 GYD to 310,000 GYD with the location, income, and size of the family being the most determinite factors.

Saving Challenges in Guyana

Reasons that make it difficult for people to save money

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

Around 5% of the people said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 13% 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. 21% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 13% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Debt, loans, and mortgages in Guyana

Percentage of people who are in debt

According to the survey, 30% of the people in Guyana have some kind of debt, loan, mortgage, or credit card payments while 70% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Guyana

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 32% of the people's monthly income in Guyana goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Guyana pay 60%+ of their income as debt settlement while 18% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 14% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 16% dedicated 30% to 40% of income for same. Things are looking brighter for 10% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Guyana

8% of debtors in Guyana confirm that real estate mortgages constitutes the main part of their outstanding debt while 30% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 15% of people and personal loans rose at 43%. Lastly, student loans are the main source of debt for 4% of debtors in Guyana.

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 Guyana

Besides measuring the loan-to-income ratio, we asked residents 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.

How much money can you save in Guyana 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 Guyana manage to save money from their income every month?

Almost 57% of the surveyed people in Guyana said that they can save some money at the end of each month while 43% said that aren't saving anything.

Percentage of people saving money by population group in Guyana

Saving to Income Ratio

Average Monthly Saved Amount

For most people, 7% to 27% of their monthly income is what they can allocate to their savings, with 13% being the average. The amount of money that people can save is approximately 56,000 GYD on average with savings ranging from 4,300 GYD to 560,000 GYD.

62% of surveyed singles reported some of their income going to savings while 57% of couples said the same. 52% of families confirmed their ability to save money.

How much money do people actually save in Guyana?

Singles

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for singles

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 10% to 29% of their monthly income to savings, with 17% being the average for most singles. The average amount of money that singles are able to save is 39,000 GYD with 4,300 GYD and 260,000 GYD being the minimum and maximum respectively.

Couples

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 8% to 28% of their monthly income, with 15% being the average for most couples. The average amount of money that couples can save is 65,000 GYD with 22,000 GYD and 350,000 GYD being the minimum and maximum respectively.

Families

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for families

Interpretation and Analysis

Families in Guyana can save anywhere between 7% to 26% of their monthly income, with 13% being the average for most families. The average amount of money that families can put aside is 86,000 GYD with 30,000 GYD and 560,000 GYD being the minimum and maximum respectively.

Typical saving choices for people in Guyana

Where do people choose to put their savings?

Affordable living in Guyana

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Guyana?

Around 55% of surveyed residents think that living in Guyana is affordable with proper budgeting while 45% reported that it is just too expensive and not affordable even with frugality and thriftness.

Financial Literacy in

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 Leteracy50%

We asked residents of whether they acquired any adequate personal financial training in their lives. Approximately 50% 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 50% 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 have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 47% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 53% said that they have everything under control.

Struggles with finance47%

Easily manages finances53%

SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Guyana

Low-cost alternatives in Guyana

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 options56%

Few low-cost options44%

Based on the survey, 56% of the people living in Guyana have no problem finding low-cost alternatives to support a frugal lifestyle while 44% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Financial goals of people in Guyana

In an attempt to understand the economic situation in Guyana, 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 8% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 42% said their number one priority is to pay off high-interest debt or loans and improve credit. 10% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 6% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 7% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 14% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Expenditure to Income Ratio in Guyana

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.

Expense to income distribution levels

Interpretation and Analysis

The average spending-to-salary ratio in Guyana is 87% This means that on average, people spend around 87% of their income for living. According to the distribution table, 15% of the population spend approximately 60% to 70% of their income every month.

Individual
78%
Spending-Income-Ratio

---

72%

86%

Couple
83%
Spending-Income-Ratio

---

76%

90%

Family
91%
Spending-Income-Ratio

---

84%

100%

How do people spend their money in Guyana?

We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.

People living in Guyana typically spend from 13% to 32% of their total monthly expenditure on housing with 24% being the average. The average spend on housing is 52,000 GYD with expenditure ranging from 4,000 GYD to 520,000 GYD. 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.

Utility expenditure like electricity, water, and gas in Guyana ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 8,600 GYD with 660 GYD and 86,000 GYD being the upper and lower limits.

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 1,300 GYD to 170,000 GYD on commuting with 17,000 GYD being the norm for most people in one month. This means that money spent on transport constitutes about 7% of total spending on average but can go as low as 3% or as high as 11%.

The average outlay on groceries in a month in Guyana is 43,000 GYD. The cost of groceries can range between 3,300 GYD to 430,000 GYD. People spend on average about 28% on food and groceries with upper and lower bounds of 20% and 34% respectively.

People in Guyana allocate 5% to 13% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 10%. The range of medical expenses range from 930 GYD to 120,000 GYD with 12,000 GYD being the norm.

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 530 GYD to 69,000 GYD with 6,900 GYD being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.

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 10,000 GYD per month with 800 GYD being the minimum spent amount and 100,000 GYD being the maximum.

Retirement, pension plans, and life after work in Guyana

What does the retirement lifestyle look like in Guyana and how much retirement savings are required?

Retirement age

The retirement age for most employees in 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.

Retirement Income Distribution

We asked residents about their retirement income sources and below are the results.

Retirement Monthly Expenses in Guyana

CoupleAverage monthly living expenditure breaks and spending patterns for couples in Guyana

Housing costs, accommodation, and housing affordability in Guyana

Rent Cost in Guyana

Monthly Rent Prices

Studio apartment monthly rent cost

15,000 GYD

22,000 GYD

59,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$70

$110

$280

1-bedroom apartment monthly rent cost

22,000 GYD

35,000 GYD

88,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$110

$170

$420

2-bedroom apartment monthly rent cost

29,000 GYD

44,000 GYD

120,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$140

$210

$560

3-bedroom apartment monthly rent cost

35,000 GYD

59,000 GYD

160,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$170

$280

$770

Furnished apartment monthly rent cost

70,000 GYD

180,000 GYD

350,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$340

$840

$1,700

Townhouse monthly rent cost

59,000 GYD

88,000 GYD

250,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$280

$420

$1,200

House monthly rent cost

70,000 GYD

180,000 GYD

350,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$340

$840

$1,700

Villa monthly rent cost

88,000 GYD

220,000 GYD

350,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$420

$1,100

$1,700

The monthly rental cost of a studio apartment in Guyana ranges between 15,000 GYD and 59,000 GYD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 22,000 GYD to 88,000 GYD. Two-bedroom rentals rate ranges between 29,000 GYD and 120,000 GYD per month. The monthly rental for a three-bedroom apartment ranges from 35,000 GYD to 160,000 GYD. The average rent of a townhouse in Guyana is around 88,000 GYD while house rental costs can be as high as 180,000 GYD per month. Finally, if you want to rent a villa, expect to pay anywhere from 88,000 GYD to 350,000 GYD per month.

Apartment and house prices in Guyana

Cost of buying a property

Studio apartment price

2.9M GYD

4.4M GYD

8.8M GYD

MINIMUM

AVERAGE

MAXIMUM

$14,000

$21,000

$42,000

1-bedroom apartment price

3.5M GYD

5.9M GYD

22M GYD

MINIMUM

AVERAGE

MAXIMUM

$17,000

$28,000

$110,000

2-bedroom apartment price

5.9M GYD

18M GYD

35M GYD

MINIMUM

AVERAGE

MAXIMUM

$28,000

$84,000

$170,000

3-bedroom apartment price

20M GYD

29M GYD

88M GYD

MINIMUM

AVERAGE

MAXIMUM

$94,000

$140,000

$420,000

Townhouse price

25M GYD

59M GYD

220M GYD

MINIMUM

AVERAGE

MAXIMUM

$120,000

$280,000

$1.1M

House price

29M GYD

180M GYD

250M GYD

MINIMUM

AVERAGE

MAXIMUM

$140,000

$840,000

$1.2M

Villa price

35M GYD

200M GYD

290M GYD

MINIMUM

AVERAGE

MAXIMUM

$170,000

$940,000

$1.4M

The average price of a studio apartment in Guyana can range from 2.9M GYD to 8.8M GYD depending on location. One bedroom cost can be anywhere from 3.5M GYD to 22M GYD. A villa can cost you 200M GYD on average with prices ranging from 35M GYD to 290M GYD.

House / apartment prices to income ratio

Property prices in Guyana can be x86 to x191 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x86 multiples of the average monthly salary in Guyana.

Rent to income ratio

The average rent-to-income ratio in Guyana is around 29%. This means that people pay 29% of their income for rent. Those figures can range from 19% to 39% depending on the salary, location, and type of property.

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.

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

Monthly costs and expenses of energy and basic utilities in Guyana

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

Utility Bill Cost / Electricity + Water + Gas / Individual

1,000 GYD

7,200 GYD

48,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$4.8

$34

$230

Utility Bill Cost / Electricity + Water + Gas / Couple

2,700 GYD

9,000 GYD

58,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$13

$43

$280

Utility Bill Cost / Electricity + Water + Gas / Family

4,600 GYD

13,000 GYD

86,000 GYD

MINIMUM

AVERAGE

MAXIMUM

$22

$64

$410

Internet and cable cost

880 GYD

1,800 GYD

2,300 GYD

MINIMUM

AVERAGE

MAXIMUM

$4.2

$8.4

$11

Mobile phone bill and charges

700 GYD

1,200 GYD

3,500 GYD

MINIMUM

AVERAGE

MAXIMUM

$3.4

$5.6

$17

The average monthly expenditure for individuals on electricty, water, and gas in Guyana ranges between 1,000 GYD and 48,000 GYD with average being 7,200 GYD, meanwhile the expenditure of couples is slightly higher at 9,000 GYD with 2,700 GYD and 58,000 GYD being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 13,000 GYD. The cost of internet and WiFi is unchanged among the three groups and ranges from 880 GYD to 2,300 GYD with 1,800 GYD being the average internet bill. Finally, the average monthly mobile charges is around 1,200 GYD but can range between 700 GYD and 3,500 GYD 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 Guyana is around 7%. This means that people pay 7% of their income for energy, water, internet, and mobile charges. Those figures can range from 4% to 11% depending on salary and location.

StudentCost of living and expenses break down for students living in Guyana