Cost Of Living in Honduras 2024
Average monthly spending for singles, couples, students, and families in Honduras
Whether you're living in Honduras 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 Expenditure73,000 HNL
per month$2,9005,600 HNL $230
$29,000 730,000 HNL
Single50,000 HNL
per month$2,00017,000 HNL $680
$14,000 330,000 HNL
Couple84,000 HNL
per month$3,40028,000 HNL $1,100
$18,000 450,000 HNL
Family110,000 HNL
per month$4,50039,000 HNL $1,600
$25,000 610,000 HNL
Student34,000 HNL
per month$1,40014,000 HNL $550
$2,500 61,000 HNL
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Honduras is 50,000 HNL. Expenses can range from 17,000 HNL at the minimum level to 330,000 HNL at the highest end.
Couples
The average monthly spending of couples in Honduras is 84,000 HNL. Expenditure can range from 28,000 HNL to 450,000 HNL per month.
Families
The average cost of living for families in Honduras is 110,000 HNL per month. Families spend anywhere from 39,000 HNL to 610,000 HNL.
Students
The average monthly expenditure for students in Honduras is 34,000 HNL. Students spend from 14,000 HNL to 61,000 HNL 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 Honduras
Dining, food, and beverages costs
Large bottle of water
Fast food combo meal
Restaurant meal for one
Fine dining meal for one | 500 HNL | 750 HNL | 3,000 HNL |
Soda or Soft Drink
Cappuccino or latte Grocery and market costs
Milk large bottle
Loaf of bread
12 eggs
Fresh whole chicken
Beef 1 kg or 1 lb
Rice 1 kg or 1 lb
Tomato 1 kg or 1 lb
Apples 1 kg or 1 lb Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank | 380 HNL | 500 HNL | 1,000 HNL |
Average car 1-day rental
Average car price | 190,000 HNL | 380,000 HNL | 500,000 HNL |
Bus ticket one way
Car Service | 500 HNL | 750 HNL | 1,500 HNL |
Utility cost (monthly)
Utility Bill - Individual | 1,000 HNL | 3,000 HNL | 20,000 HNL |
Utility Bill - Couple | 1,400 HNL | 4,200 HNL | 22,000 HNL |
Utility Bill - Family | 1,200 HNL | 3,300 HNL | 18,000 HNL |
Internet and cable | 380 HNL | 750 HNL | 1,000 HNL |
Mobile phone charges | 300 HNL | 500 HNL | 1,500 HNL |
Leisure and activities costs
Movie ticket
One month gym membership | 600 HNL | 750 HNL | 1,500 HNL |
Cloths and accessories costs
Pair of jeans or pants
Woman dress | 420 HNL | 580 HNL | 1,900 HNL |
Woman shoes | 390 HNL | 540 HNL | 1,300 HNL |
Men's shoes
Men suit | 380 HNL | 470 HNL | 2,500 HNL |
Regular t-shirt Housing costs / monthly rent
Studio apartment | 6,300 HNL | 9,400 HNL | 25,000 HNL |
1-bedroom apartment | 9,400 HNL | 15,000 HNL | 38,000 HNL |
2-bedroom apartment | 13,000 HNL | 19,000 HNL | 50,000 HNL |
Housing costs / Buying
Studio apartment | 1.3M HNL | 1.9M HNL | 3.8M HNL |
1-bedroom apartment | 1.5M HNL | 2.5M HNL | 9.4M HNL |
| $61,000 | $100,000 | $380,000 |
2-bedroom apartment | 2.5M HNL | 7.5M HNL | 15M HNL |
| $100,000 | $300,000 | $610,000 |
Furniture Costs
King Size Bed | 7,500 HNL | 9,400 HNL | 13,000 HNL |
Double Bed | 5,000 HNL | 7,500 HNL | 9,400 HNL |
Single Bed | 4,400 HNL | 5,800 HNL | 7,500 HNL |
Living Room | 8,300 HNL | 11,000 HNL | 38,000 HNL |
Dining Table | 3,800 HNL | 5,000 HNL | 9,400 HNL |
Sofa or Couch | 5,000 HNL | 6,800 HNL | 15,000 HNL |
Electronics and House Appliance Costs
TV Set | 5,000 HNL | 7,500 HNL | 15,000 HNL |
Fridge or Freezer | 4,400 HNL | 6,800 HNL | 9,400 HNL |
Washing Machine | 5,800 HNL | 8,300 HNL | 15,000 HNL |
Stove or Cooker | 5,400 HNL | 6,800 HNL | 9,400 HNL |
Mobile Phone | 6,300 HNL | 7,500 HNL | 11,000 HNL |
Laptop or Computer | 6,800 HNL | 8,300 HNL | 15,000 HNL |
Expenditure to Income Ratio in Honduras
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
85%
78% to 94%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 5% |
| 50% - 60% | 10% |
| 60% - 70% | 17% |
| 70% - 80% | 26% |
| 80% - 90% | 18% |
| 90% - 100% | 10% |
| 100% - 110% | 5% |
| 110% - 120% | 3% |
| 120% - 130% | 2% |
| 130% - 140% | 2% |
| > 140% | 1% |
Interpretation and Analysis
The average spending-to-salary ratio in Honduras is 85%
This means that on average, people spend around 85% of their income for living.
According to the distribution table, 17% of the population spend approximately 60% to 70% of their income every month.
How can spending be more than income?
A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.
Individual
77%
Spending-Income-Ratio
70%
85%
Couple
81%
Spending-Income-Ratio
74%
89%
Family
89%
Spending-Income-Ratio
82%
99%
How do people spend their money in Honduras?
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 Expenditure25%
25% of total expenses on average (14% to 33%)
| LOW | $68 1,700 HNL |
| AVERAGE | $880 22,000 HNL |
| HIGH | $8,800 220,000 HNL |
| Per Month |
People living in Honduras typically spend from 14% to 33% of their total monthly expenditure on housing with 25% being the average. The average spend on housing is 22,000 HNL with expenditure ranging from 1,700 HNL to 220,000 HNL. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.
Utilities, Electricity, Water7%
7% of total expenses on average (4% to 11%)
| LOW | $11 280 HNL |
| AVERAGE | $150 3,600 HNL |
| HIGH | $1,500 36,000 HNL |
| Per Month |
Utility expenditure like electricity, water, and gas in Honduras ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 3,600 HNL with 280 HNL and 36,000 HNL being the upper and lower limits.
Transport, Fuel, Commute8%
8% of total expenses on average (4% to 12%)
| LOW | $23 560 HNL |
| AVERAGE | $290 7,300 HNL |
| HIGH | $2,900 73,000 HNL |
| 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 560 HNL to 73,000 HNL on commuting with 7,300 HNL being the norm for most people in one month. This means that money spent on transport constitutes about 8% of total spending on average but can go as low as 4% or as high as 12%.
Food and Groceries Cost27%
27% of total expenses on average (19% to 33%)
| LOW | $57 1,400 HNL |
| AVERAGE | $730 18,000 HNL |
| HIGH | $7,300 180,000 HNL |
| Per Month |
The average outlay on groceries in a month in Honduras is 18,000 HNL. The cost of groceries can range between 1,400 HNL to 180,000 HNL. People spend on average about 27% on food and groceries with upper and lower bounds of 19% and 33% respectively.
Healthcare and Medical Services9%
9% of total expenses on average (4% to 12%)
| LOW | $16 390 HNL |
| AVERAGE | $210 5,100 HNL |
| HIGH | $2,100 51,000 HNL |
| Per Month |
People in Honduras allocate 4% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 9%. The range of medical expenses range from 390 HNL to 51,000 HNL with 5,100 HNL being the norm.
Leisure and Shopping5%
5% of total expenses on average (3% to 9%)
| LOW | $9 220 HNL |
| AVERAGE | $120 2,900 HNL |
| HIGH | $1,200 29,000 HNL |
| 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 220 HNL to 29,000 HNL with 2,900 HNL being the average. Speaking of percentages, that equates to 3% to 9% of total expenses with an average of 5% for most residents.
Education and Schooling6%
6% of total expenses on average (4% to 12%)
| LOW | $14 330 HNL |
| AVERAGE | $180 4,400 HNL |
| HIGH | $1,800 44,000 HNL |
| 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 6% of the monthly expenditure with 4% and 12% being the lower and upper bounds respectively. The average reported education cost is 4,400 HNL per month with 330 HNL being the minimum spent amount and 44,000 HNL being the maximum.
Other Expenses13%
13% of total expenses on average (8% to 20%)
| LOW | $29 730 HNL |
| AVERAGE | $380 9,400 HNL |
| HIGH | $3,800 94,000 HNL |
| Per Month |
How much money can you save in Honduras 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 Honduras manage to save money from their income every month?
Almost 62% of the surveyed people in Honduras said that they can save some money at the end of each month while 38% said that aren't saving anything.
Percentage of people saving money by population group in Honduras
| Group | Savers | Non Savers |
|---|
| Singles | 64% | 36% |
| Couples | 59% | 41% |
| Families | 54% | 46% |
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
1,900 HNL
$78 | 25,000 HNL
$1,000 | 250,000 HNL
$10,000 |
For most people, 9% to 29% of their monthly income is what they can allocate to their savings, with 16% being the average. The amount of money that people can save is approximately 25,000 HNL on average with savings ranging from 1,900 HNL to 250,000 HNL.
64% of surveyed singles reported some of their income going to savings while 59% of couples said the same. 54% of families confirmed their ability to save money.
How much money do people actually save in Honduras?
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
5,800 HNL
$230 | 17,000 HNL
$700 | 120,000 HNL
$4,700 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 31% |
| 10% - 20% | 25% |
| 20% - 30% | 16% |
| 30% - 40% | 14% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 12% to 31% of their monthly income to savings, with 20% being the average for most singles. The average amount of money that singles are able to save is 17,000 HNL with 5,800 HNL and 120,000 HNL being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
9,600 HNL
$390 | 29,000 HNL
$1,200 | 150,000 HNL
$6,200 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 35% |
| 10% - 20% | 27% |
| 20% - 30% | 19% |
| 30% - 40% | 9% |
| 40% - 50% | 7% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 10% to 30% of their monthly income, with 18% being the average for most couples. The average amount of money that couples can save is 29,000 HNL with 9,600 HNL and 150,000 HNL being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
13,000 HNL
$540 | 38,000 HNL
$1,600 | 210,000 HNL
$8,600 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 38% |
| 10% - 20% | 30% |
| 20% - 30% | 20% |
| 30% - 40% | 6% |
| 40% - 50% | 4% |
| > 50% | 2% |
Interpretation and Analysis
Families in Honduras can save anywhere between 9% to 27% of their monthly income, with 16% being the average for most families. The average amount of money that families can put aside is 38,000 HNL with 13,000 HNL and 210,000 HNL 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 Honduras
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Honduras?
Around 62% of surveyed residents think that living in Honduras is affordable with proper budgeting while 38% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Honduras
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 options59%
Few low-cost options41%
Based on the survey, 59% of the people living in Honduras have no problem finding low-cost alternatives to support a frugal lifestyle while 41% 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 Honduras whether they have an emergency fund and the answers were as follows.
Yes61%
No39%
Based on the survey, 39% of the people living in Honduras said that they don't have an emergency fund while 61% said that they do.
Financial Literacy in Honduras
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 Leteracy57%
We asked residents of Honduras whether they acquired any adequate personal financial training in their lives. Approximately 43% 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 57% 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 Honduras have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 35% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 65% said that they have everything under control.
Struggles with finance35%
Easily manages finances65%
Financial goals of people in Honduras
In an attempt to understand the economic situation in Honduras, 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 | 7% |
| Debt Reduction | 38% |
| Retirement Savings | 9% |
| Education Funding | 8% |
| Homeownership | 17% |
| Investing | 8% |
| Travel or Lifestyle | 9% |
| Healthcare Expenses | 11% |
| Financial Independence | 7% |
Around 7% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 38% 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.
Saving Challenges in Honduras
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Honduras. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 6% |
| High Expenses | 9% |
| Debt and Loans | 16% |
| Lack of Budgeting Skills | 11% |
| Impulsive Spending | 10% |
| Financial Emergencies | 6% |
| Living the moment | 6% |
| Will do it later | 19% |
| Inflation | 12% |
| Social Pressure | 3% |
| Market Instability | 3% |
Around 6% of the people 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% 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 societal expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.
Typical saving choices for people in Honduras
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 11% |
| Gold | 11% |
| Savings Accounts | 17% |
| Retirement Accounts | 11% |
| Cash Savings | 18% |
| Real Estate | 10% |
| Investment | 6% |
| Stocks | 5% |
| Bonds | 6% |
| Mutual Funds | 3% |
| Certificates of Deposit | 3% |
Retirement, pension plans, and life after work in Honduras
What does the retirement lifestyle look like in Honduras and how much retirement savings are required?
Retirement age
The retirement age for most employees in Honduras 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 Honduras:| Age | Amount |
|---|
| 25 | 200,000 HNL |
| 30 | 390,000 HNL |
| 35 | 680,000 HNL |
| 40 | 980,000 HNL |
| 45 | 1.5M HNL |
| 50 | 2M HNL |
| 55 | 2.4M HNL |
| 60 | 3M HNL |
| 65 | 3.6M HNL |
Retirement Income Distribution
We asked residents of Honduras about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 13% |
| Savings | 22% |
| Investments | 13% |
| Social Security | 8% |
| Annuities | 8% |
| Part-time Job | 12% |
| Real Estate | 17% |
| Dividends and Interest | 8% |
Retirement Monthly Expenses in Honduras 12,000 HNL
$500 | 37,000 HNL
$1,500 | 240,000 HNL
$9,900 |
Debt, loans, and mortgages in Honduras
Percentage of people who are in debt
According to the survey, 26% of the people in Honduras have some kind of debt, loan, mortgage, or credit card payments while 74% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Honduras
Debt to income ratio
30%
22% 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 the people's monthly income in Honduras goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 15% |
| 40% - 50% | 13% |
| 30% - 40% | 15% |
| 20% - 30% | 13% |
| 10% - 20% | 15% |
| 0% - 10% | 27% |
According to our data, 3% of the debtors in Honduras pay 60%+ of their income as debt settlement while 15% 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 Honduras
| Debt | % People |
|---|
| Real Estate Mortgage | 11% |
| Auto Loan | 19% |
| Student Loan | 3% |
| Credit Card | 27% |
| Personal Loan | 40% |
11% of debtors in Honduras 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 40%. Lastly, student loans are the main source of debt for 3% of debtors in Honduras.
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 Honduras
Besides measuring the loan-to-income ratio, we asked residents of Honduras 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 | 53% |
| Once a year | 23% |
| Twice a year | 12% |
| Three times a year | 8% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Honduras
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Honduras
Monthly Rent Prices
Studio apartment | 6,300 HNL | 9,400 HNL | 25,000 HNL |
1-bedroom apartment | 9,400 HNL | 15,000 HNL | 38,000 HNL |
2-bedroom apartment | 13,000 HNL | 19,000 HNL | 50,000 HNL |
3-bedroom apartment | 15,000 HNL | 25,000 HNL | 68,000 HNL |
Furnished apartment | 30,000 HNL | 75,000 HNL | 150,000 HNL |
Townhouse | 25,000 HNL | 38,000 HNL | 110,000 HNL |
House | 30,000 HNL | 75,000 HNL | 150,000 HNL |
Villa | 38,000 HNL | 94,000 HNL | 150,000 HNL |
The monthly rental cost of a studio apartment in Honduras ranges between 6,300 HNL and 25,000 HNL, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 9,400 HNL to 38,000 HNL. Two-bedroom rentals rate ranges between 13,000 HNL and 50,000 HNL per month. The monthly rental for a three-bedroom apartment ranges from 15,000 HNL to 68,000 HNL. The average rent of a townhouse in Honduras is around 38,000 HNL while house rental costs can be as high as 75,000 HNL per month. Finally, if you want to rent a villa, expect to pay anywhere from 38,000 HNL to 150,000 HNL per month.
Apartment and house prices in Honduras
Cost of buying a property
Studio apartment | 1.3M HNL | 1.9M HNL | 3.8M HNL |
1-bedroom apartment | 1.5M HNL | 2.5M HNL | 9.4M HNL |
| $61,000 | $100,000 | $380,000 |
2-bedroom apartment | 2.5M HNL | 7.5M HNL | 15M HNL |
| $100,000 | $300,000 | $610,000 |
3-bedroom apartment
Townhouse
House
Villa The average price of a studio apartment in Honduras can range from 1.3M HNL to 3.8M HNL depending on location. One bedroom cost can be anywhere from 1.5M HNL to 9.4M HNL. A villa can cost you 83M HNL on average with prices ranging from 15M HNL to 130M HNL.
If you're leasing or purchasing, housing costs in Honduras 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
| 35 | x101 monthly income | 201 |
Property prices in Honduras can be x101 to x201 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x101 multiples of the average monthly salary in Honduras.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Honduras is around 30%. This means that people pay 30% of their income for rent. Those figures can range from 20% to 40% 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
28% 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.
| 110 HNL | 1,500 HNL | 15,000 HNL |
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 Honduras
Housing31%
31% of total expenses on average (19% to 43%)
| LOW | $240 6,000 HNL |
| AVERAGE | $730 18,000 HNL |
| HIGH | $4,900 120,000 HNL |
| Per Month |
Utilities, Electricity, Water8%
8% of total expenses on average (4% to 13%)
| LOW | $41 1,000 HNL |
| AVERAGE | $120 3,000 HNL |
| HIGH | $810 20,000 HNL |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 12%)
| LOW | $54 1,300 HNL |
| AVERAGE | $160 4,000 HNL |
| HIGH | $1,100 27,000 HNL |
| Per Month |
Food and Groceries18%
18% of total expenses on average (12% to 23%)
| LOW | $110 2,700 HNL |
| AVERAGE | $330 8,000 HNL |
| HIGH | $2,200 54,000 HNL |
| Per Month |
Healthcare11%
11% of total expenses on average (5% to 15%)
| LOW | $61 1,500 HNL |
| AVERAGE | $180 4,500 HNL |
| HIGH | $1,200 30,000 HNL |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (3% to 6%)
| LOW | $34 840 HNL |
| AVERAGE | $100 2,500 HNL |
| HIGH | $680 17,000 HNL |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $14 330 HNL |
| AVERAGE | $41 1,000 HNL |
| HIGH | $270 6,700 HNL |
| Per Month |
Other Expenses21%
21% of total expenses on average (13% to 25%)
| LOW | $120 3,000 HNL |
| AVERAGE | $370 9,000 HNL |
| HIGH | $2,400 60,000 HNL |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Honduras
Housing28%
28% of total expenses on average (21% to 38%)
| LOW | $370 9,200 HNL |
| AVERAGE | $1,100 28,000 HNL |
| HIGH | $6,000 150,000 HNL |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (5% to 11%)
| LOW | $57 1,400 HNL |
| AVERAGE | $170 4,200 HNL |
| HIGH | $900 22,000 HNL |
| Per Month |
Transport, Fuel10%
10% of total expenses on average (4% to 15%)
| LOW | $140 3,300 HNL |
| AVERAGE | $410 10,000 HNL |
| HIGH | $2,200 54,000 HNL |
| Per Month |
Food and Groceries16%
16% of total expenses on average (11% to 21%)
| LOW | $160 3,900 HNL |
| AVERAGE | $470 12,000 HNL |
| HIGH | $2,500 62,000 HNL |
| Per Month |
Healthcare13%
13% of total expenses on average (7% to 17%)
| LOW | $120 3,100 HNL |
| AVERAGE | $370 9,200 HNL |
| HIGH | $2,000 49,000 HNL |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (2% to 7%)
| LOW | $68 1,700 HNL |
| AVERAGE | $200 5,000 HNL |
| HIGH | $1,100 27,000 HNL |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $23 560 HNL |
| AVERAGE | $68 1,700 HNL |
| HIGH | $360 8,900 HNL |
| Per Month |
Other Expenses20%
20% of total expenses on average (14% to 26%)
| LOW | $190 4,700 HNL |
| AVERAGE | $580 14,000 HNL |
| HIGH | $3,100 76,000 HNL |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Honduras
Housing27%
27% of total expenses on average (22% to 37%)
| LOW | $510 12,000 HNL |
| AVERAGE | $1,400 36,000 HNL |
| HIGH | $8,000 200,000 HNL |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 8%)
| LOW | $130 3,100 HNL |
| AVERAGE | $360 8,900 HNL |
| HIGH | $2,000 49,000 HNL |
| Per Month |
Food and Groceries20%
20% of total expenses on average (13% to 26%)
| LOW | $280 7,000 HNL |
| AVERAGE | $810 20,000 HNL |
| HIGH | $4,500 110,000 HNL |
| Per Month |
Healthcare10%
10% of total expenses on average (6% to 15%)
| LOW | $130 3,100 HNL |
| AVERAGE | $360 8,900 HNL |
| HIGH | $2,000 49,000 HNL |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $79 2,000 HNL |
| AVERAGE | $230 5,600 HNL |
| HIGH | $1,200 31,000 HNL |
| Per Month |
Education14%
14% of total expenses on average (7% to 22%)
| LOW | $220 5,500 HNL |
| AVERAGE | $630 16,000 HNL |
| HIGH | $3,500 86,000 HNL |
| Per Month |
Other Expenses15%
15% of total expenses on average (8% to 20%)
| LOW | $190 4,700 HNL |
| AVERAGE | $540 13,000 HNL |
| HIGH | $3,000 74,000 HNL |
| Per Month |
StudentCost of living and expenses break down for students living in Honduras
Housing19%
19% of total expenses on average (14% to 25%)
| LOW | $130 3,200 HNL |
| AVERAGE | $330 8,100 HNL |
| HIGH | $590 15,000 HNL |
| Per Month |
Utilities, Electricity, Water6%
6% of total expenses on average (4% to 10%)
| LOW | $22 540 HNL |
| AVERAGE | $55 1,400 HNL |
| HIGH | $98 2,400 HNL |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (5% to 11%)
| LOW | $38 950 HNL |
| AVERAGE | $96 2,400 HNL |
| HIGH | $170 4,300 HNL |
| Per Month |
Food and Groceries22%
22% of total expenses on average (16% to 26%)
| LOW | $110 2,700 HNL |
| AVERAGE | $270 6,800 HNL |
| HIGH | $490 12,000 HNL |
| Per Month |
Healthcare8%
8% of total expenses on average (5% to 11%)
| LOW | $33 810 HNL |
| AVERAGE | $82 2,000 HNL |
| HIGH | $150 3,600 HNL |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $27 680 HNL |
| AVERAGE | $68 1,700 HNL |
| HIGH | $120 3,000 HNL |
| Per Month |
Education19%
19% of total expenses on average (12% to 24%)
| LOW | $100 2,600 HNL |
| AVERAGE | $260 6,400 HNL |
| HIGH | $470 12,000 HNL |
| Per Month |
Other Expenses18%
18% of total expenses on average (12% to 24%)
| LOW | $82 2,000 HNL |
| AVERAGE | $210 5,100 HNL |
| HIGH | $370 9,100 HNL |
| Per Month |
