Cost Of Living in Irbil 2025
Average monthly spending for singles, couples, students, and families in Irbil
Whether you're living in Irbil 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 Expenditure
Currency: IQD
Monthly Expenditure ▶ Single
Currency: IQD
Monthly Expenditure ▶ Couple
Currency: IQD
Monthly Expenditure ▶ Family
Currency: IQD
Monthly Expenditure ▶ Student
Currency: IQD
Financial goals of people in Irbil
In an attempt to understand the economic situation in Irbil, 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 | 8% |
| Debt Reduction | 42% |
| Retirement Savings | 10% |
| Education Funding | 7% |
| Homeownership | 18% |
| Investing | 7% |
| Travel or Lifestyle | 7% |
| Healthcare Expenses | 14% |
| Financial Independence | 5% |
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. 7% 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.
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Irbil is 670,000 IQD. Expenses can range from 94,000 IQD at the minimum level to 7.5M IQD at the highest end.
Couples
The average monthly spending of couples in Irbil is 970,000 IQD. Expenditure can range from 150,000 IQD to 8.9M IQD per month.
Families
The average cost of living for families in Irbil is 1.1M IQD per month. Families spend anywhere from 220,000 IQD to 11M IQD.
Students
The average monthly expenditure for students in Irbil is 500,000 IQD. Students spend from 75,000 IQD to 5.5M IQD per month.
Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.
Expenditure to Income Ratio in Irbil
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 93%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 4% |
| 50% - 60% | 9% |
| 60% - 70% | 15% |
| 70% - 80% | 25% |
| 80% - 90% | 20% |
| 90% - 100% | 11% |
| 100% - 110% | 6% |
| 110% - 120% | 4% |
| 120% - 130% | 3% |
| 130% - 140% | 2% |
| > 140% | 2% |
Interpretation and Analysis
The average spending-to-salary ratio in Irbil is 85%
This means that on average, people spend around 85% of their income for living.
According to the distribution table, 15% 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
76%
Spending-Income-Ratio
70%
84%
Couple
80%
Spending-Income-Ratio
73%
88%
Family
89%
Spending-Income-Ratio
82%
98%
Prices and cost of goods and services in Irbil
Dining, food, and beverages costs
Fast food combo meal
| 1,000 IQD | 2,000 IQD | 3,400 IQD |
Restaurant meal for one
| 3,400 IQD | 5,100 IQD | 10,000 IQD |
Fine dining meal for one
| 6,800 IQD | 10,000 IQD | 41,000 IQD |
Cappuccino or latte
| 850 IQD | 1,400 IQD | 2,000 IQD |
Grocery and market costs
Milk large bottle
| 680 IQD | 810 IQD | 1,000 IQD |
12 eggs
| 510 IQD | 680 IQD | 1,000 IQD |
Fresh whole chicken
| 1,100 IQD | 1,500 IQD | 2,100 IQD |
Pack of beef
| 1,300 IQD | 2,000 IQD | 4,000 IQD |
Medium bag of rice
| 550 IQD | 750 IQD | 1,100 IQD |
Bag of tomatos
Bag of apples
Commute, travel, and transportation costs
20 minutes taxi ride
| 840 IQD | 1,000 IQD | 2,000 IQD |
Average car full tank
| 5,100 IQD | 6,800 IQD | 14,000 IQD |
Average car 1-day rental
| 5,200 IQD | 6,900 IQD | 10,000 IQD |
Average car price
| 2.6M IQD | 5.2M IQD | 6.9M IQD |
Bus ticket one way
Car Service
| 6,800 IQD | 10,000 IQD | 21,000 IQD |
Utility cost (monthly)
Utility Bill - Individual
| 5,800 IQD | 42,000 IQD | 460,000 IQD |
Utility Bill - Couple
| 6,200 IQD | 45,000 IQD | 510,000 IQD |
Utility Bill - Family
| 12,000 IQD | 58,000 IQD | 580,000 IQD |
Internet and cable
| 5,100 IQD | 10,000 IQD | 13,000 IQD |
Mobile phone charges
| 4,200 IQD | 7,000 IQD | 21,000 IQD |
Leisure and activities costs
Movie ticket
| 2,600 IQD | 3,500 IQD | 5,200 IQD |
One month gym membership
| 8,100 IQD | 10,000 IQD | 20,000 IQD |
Cloths and accessories costs
Pair of jeans or pants
| 6,000 IQD | 8,400 IQD | 13,000 IQD |
Woman dress
| 5,600 IQD | 7,700 IQD | 25,000 IQD |
Woman shoes
| 5,400 IQD | 7,300 IQD | 17,000 IQD |
Men's shoes
| 4,600 IQD | 5,600 IQD | 11,000 IQD |
Men suit
| 5,100 IQD | 6,300 IQD | 34,000 IQD |
Regular t-shirt
| 2,500 IQD | 3,400 IQD | 10,000 IQD |
Housing costs / monthly rent
Studio apartment
| 83,000 IQD | 120,000 IQD | 330,000 IQD |
1-bedroom apartment
| 120,000 IQD | 200,000 IQD | 490,000 IQD |
2-bedroom apartment
| 160,000 IQD | 250,000 IQD | 650,000 IQD |
Housing costs / Buying
Studio apartment
1-bedroom apartment
2-bedroom apartment
Furniture Costs
King Size Bed
| 100,000 IQD | 130,000 IQD | 170,000 IQD |
Double Bed
| 68,000 IQD | 100,000 IQD | 130,000 IQD |
Single Bed
| 60,000 IQD | 78,000 IQD | 100,000 IQD |
Living Room
| 110,000 IQD | 140,000 IQD | 500,000 IQD |
Dining Table
| 51,000 IQD | 68,000 IQD | 130,000 IQD |
Sofa or Couch
| 68,000 IQD | 93,000 IQD | 200,000 IQD |
Electronics and House Appliance Costs
TV Set
| 68,000 IQD | 100,000 IQD | 200,000 IQD |
Fridge or Freezer
| 60,000 IQD | 92,000 IQD | 130,000 IQD |
Washing Machine
| 79,000 IQD | 110,000 IQD | 210,000 IQD |
Stove or Cooker
| 73,000 IQD | 93,000 IQD | 130,000 IQD |
Mobile Phone
| 85,000 IQD | 100,000 IQD | 150,000 IQD |
Laptop or Computer
| 92,000 IQD | 110,000 IQD | 200,000 IQD |
How much money can you save in Irbil 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 Irbil manage to save money from their income every month?
Almost 59% of the surveyed people in Irbil said that they can save some money at the end of each month while 41% said that aren't saving anything.
Percentage of people saving money by population group in Irbil
| Group | Savers | Non Savers |
|---|
| Singles | 60% | 41% |
| Couples | 54% | 46% |
| Families | 50% | 50% |
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
24,000 IQD
$18 | 240,000 IQD
$180 | 3.6M IQD
$2,700 |
For most people, 6.8% to 26% 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 240,000 IQD on average with savings ranging from 24,000 IQD to 3.6M IQD.
60% of surveyed singles reported some of their income going to savings while 54% of couples said the same. 50% of families confirmed their ability to save money.
How much money do people actually save in Irbil?
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
24,000 IQD
$18 | 220,000 IQD
$160 | 2.4M IQD
$1,800 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 32% |
| 10% - 20% | 25% |
| 20% - 30% | 16% |
| 30% - 40% | 13% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 9.7% to 28% of their monthly income to savings, with 16% being the average for most singles. The average amount of money that singles are able to save is 220,000 IQD with 24,000 IQD and 2.4M IQD being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
48,000 IQD
$36 | 310,000 IQD
$240 | 2.9M IQD
$2,200 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 36% |
| 10% - 20% | 27% |
| 20% - 30% | 19% |
| 30% - 40% | 8% |
| 40% - 50% | 7% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 7.7% to 27% of their monthly income, with 14% being the average for most couples. The average amount of money that couples can save is 310,000 IQD with 48,000 IQD and 2.9M IQD being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
71,000 IQD
$54 | 360,000 IQD
$270 | 3.6M IQD
$2,700 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 39% |
| 10% - 20% | 30% |
| 20% - 30% | 20% |
| 30% - 40% | 5% |
| 40% - 50% | 4% |
| > 50% | 2% |
Interpretation and Analysis
Families in Irbil can save anywhere between 6.8% to 25% of their monthly income, with 13% being the average for most families. The average amount of money that families can put aside is 360,000 IQD with 71,000 IQD and 3.6M IQD being the minimum and maximum respectively.
Saving Challenges in Irbil
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Irbil. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 5% |
| High Expenses | 8% |
| Debt and Loans | 13% |
| Lack of Budgeting Skills | 12% |
| Impulsive Spending | 11% |
| Financial Emergencies | 7% |
| Living the moment | 5% |
| Will do it later | 21% |
| Inflation | 13% |
| Social Pressure | 3% |
| Market Instability | 2% |
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. 11% 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.
How do people spend their money in Irbil?
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 Expenditure24%
24% of total expenses on average (13% to 32%)
| LOW | $17 23,000 IQD |
| AVERAGE | $170 230,000 IQD |
| HIGH | $2,600 3.4M IQD |
| Per Month |
People living in Irbil typically spend from 13% to 32% of their total monthly expenditure on housing with 24% being the average. The average spend on housing is 230,000 IQD with expenditure ranging from 23,000 IQD to 3.4M IQD. 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, Water, Internet, Mobile8%
8% of total expenses on average (5% to 12%)
| LOW | $2.9 3,800 IQD |
| AVERAGE | $29 38,000 IQD |
| HIGH | $440 580,000 IQD |
| Per Month |
Utility expenditure like electricity, water, and gas in Irbil ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 38,000 IQD with 3,800 IQD and 580,000 IQD being the upper and lower limits.
Transport, Fuel, Commute7%
7% of total expenses on average (3% to 11%)
| LOW | $5.8 7,600 IQD |
| AVERAGE | $58 76,000 IQD |
| HIGH | $870 1.1M IQD |
| 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 7,600 IQD to 1.1M IQD on commuting with 76,000 IQD 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%.
Food and Groceries Cost28%
28% of total expenses on average (20% to 34%)
| LOW | $15 19,000 IQD |
| AVERAGE | $150 190,000 IQD |
| HIGH | $2,200 2.9M IQD |
| Per Month |
The average outlay on groceries in a month in Irbil is 190,000 IQD. The cost of groceries can range between 19,000 IQD to 2.9M IQD. People spend on average about 28% on food and groceries with upper and lower bounds of 20% and 34% respectively.
Healthcare and Medical Services10%
10% of total expenses on average (5% to 13%)
| LOW | $4.2 5,500 IQD |
| AVERAGE | $42 55,000 IQD |
| HIGH | $630 820,000 IQD |
| Per Month |
People in Irbil 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 5,500 IQD to 820,000 IQD with 55,000 IQD being the norm.
Leisure and Shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $2.3 3,000 IQD |
| AVERAGE | $23 30,000 IQD |
| HIGH | $350 460,000 IQD |
| 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 3,000 IQD to 460,000 IQD with 30,000 IQD being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.
Education and Schooling5%
5% of total expenses on average (3% to 11%)
| LOW | $3.5 4,600 IQD |
| AVERAGE | $35 46,000 IQD |
| HIGH | $520 690,000 IQD |
| Per Month |
Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 46,000 IQD per month with 4,600 IQD being the minimum spent amount and 690,000 IQD being the maximum.
Other Expenses14%
14% of total expenses on average (9% to 21%)
| LOW | $7.5 9,800 IQD |
| AVERAGE | $75 98,000 IQD |
| HIGH | $1,100 1.5M IQD |
| Per Month |
Typical saving choices for people in Irbil
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 12% |
| Gold | 13% |
| Savings Accounts | 17% |
| Retirement Accounts | 10% |
| Cash Savings | 21% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 4% |
| Bonds | 5% |
| Mutual Funds | 2% |
| Certificates of Deposit | 3% |
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.
Monthly costs and expenses of energy and basic utilities in Irbil
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Irbil
Utility Bill Cost / Electricity + Water + Gas / Individual
| 5,800 IQD | 42,000 IQD | 460,000 IQD |
Utility Bill Cost / Electricity + Water + Gas / Couple
| 6,200 IQD | 45,000 IQD | 510,000 IQD |
Utility Bill Cost / Electricity + Water + Gas / Family
| 12,000 IQD | 58,000 IQD | 580,000 IQD |
Internet and cable cost
| 5,100 IQD | 10,000 IQD | 13,000 IQD |
Mobile phone bill and charges
| 4,200 IQD | 7,000 IQD | 21,000 IQD |
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 expenditure for individuals on electricty, water, and gas in Irbil ranges between 5,800 IQD and 460,000 IQD with average being 42,000 IQD, meanwhile the expenditure of couples is slightly higher at 45,000 IQD with 6,200 IQD and 510,000 IQD 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 58,000 IQD. The cost of internet and WiFi is unchanged among the three groups and ranges from 5,100 IQD to 13,000 IQD with 10,000 IQD being the average internet bill. Finally, the average monthly mobile charges is around 7,000 IQD but can range between 4,200 IQD and 21,000 IQD 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
The average utility-to-income ratio in Irbil is around 6.8%. This means that people pay 6.8% of their income for energy, water, internet, and mobile charges. Those figures can range from 3.9% to 11% depending on salary and location.
Housing costs, accommodation, and housing affordability in Irbil
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Irbil
Monthly Rent Prices
Studio apartment monthly rent cost
| 83,000 IQD | 120,000 IQD | 330,000 IQD |
1-bedroom apartment monthly rent cost
| 120,000 IQD | 200,000 IQD | 490,000 IQD |
2-bedroom apartment monthly rent cost
| 160,000 IQD | 250,000 IQD | 650,000 IQD |
3-bedroom apartment monthly rent cost
| 200,000 IQD | 330,000 IQD | 890,000 IQD |
Furnished apartment monthly rent cost
| 390,000 IQD | 990,000 IQD | 2M IQD |
Townhouse monthly rent cost
| 330,000 IQD | 500,000 IQD | 1.4M IQD |
House monthly rent cost
| 390,000 IQD | 990,000 IQD | 2M IQD |
Villa monthly rent cost
| 500,000 IQD | 1.2M IQD | 2M IQD |
The monthly rental cost of a studio apartment in Irbil ranges between 83,000 IQD and 330,000 IQD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 120,000 IQD to 490,000 IQD. Two-bedroom rentals rate ranges between 160,000 IQD and 650,000 IQD per month. The monthly rental for a three-bedroom apartment ranges from 200,000 IQD to 890,000 IQD. The average rent of a townhouse in Irbil is around 500,000 IQD while house rental costs can be as high as 990,000 IQD per month. Finally, if you want to rent a villa, expect to pay anywhere from 500,000 IQD to 2M IQD per month.
Apartment and house prices in Irbil
Cost of buying a property
Studio apartment price
1-bedroom apartment price
2-bedroom apartment price
3-bedroom apartment price
| 110M IQD | 160M IQD | 490M IQD |
| $84,000 | $130,000 | $380,000 |
Townhouse price
| 140M IQD | 330M IQD | 1,200M IQD |
| $110,000 | $250,000 | $940,000 |
House price
| 160M IQD | 980M IQD | 1,400M IQD |
Villa price
| 200M IQD | 1,100M IQD | 1,600M IQD |
The average price of a studio apartment in Irbil can range from 16M IQD to 49M IQD depending on location. One bedroom cost can be anywhere from 20M IQD to 120M IQD. A villa can cost you 1,100M IQD on average with prices ranging from 200M IQD to 1,600M IQD.
If you're leasing or purchasing, housing costs in Irbil 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
| 28 | x79 monthly income | 178 |
Property prices in Irbil can be x79 to x178 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x79 multiples of the average monthly salary in Irbil.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Irbil is around 27%. This means that people pay 27% of their income for rent. Those figures can range from 17% to 37% depending on the salary, location, and type of property.
The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.
Housing affordability index
The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.
Housing Affordability Index
26% 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.
| 1,500 IQD | 15,000 IQD | 220,000 IQD |
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.
Low-cost alternatives in Irbil
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 options57%
Few low-cost options43%
Based on the survey, 57% of the people living in Irbil have no problem finding low-cost alternatives to support a frugal lifestyle while 43% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
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 Leteracy51%
We asked residents of whether they acquired any adequate personal financial training in their lives. Approximately 49% 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 51% 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? 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%
Debt, loans, and mortgages in Irbil
Percentage of people who are in debt
According to the survey, 27% of the people in Irbil have some kind of debt, loan, mortgage, or credit card payments while 73% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Irbil
Debt to income ratio
32%
24% to 41%
( monthly debt payment / monthly income ) x 100
Interpretation
The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 32% of the people's monthly income in Irbil goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 18% |
| 40% - 50% | 14% |
| 30% - 40% | 16% |
| 20% - 30% | 10% |
| 10% - 20% | 12% |
| 0% - 10% | 26% |
According to our data, 3% of the debtors in Irbil 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 Irbil
| Debt | % People |
|---|
| Real Estate Mortgage | 8% |
| Auto Loan | 15% |
| Student Loan | 4% |
| Credit Card | 30% |
| Personal Loan | 43% |
8% of debtors in Irbil 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 Irbil.
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 Irbil
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.
| Frequency | % People |
|---|
| Never | 50% |
| Once a year | 24% |
| Twice a year | 13% |
| Three times a year | 9% |
| Four times a year | 4% |
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.
Yes56%
No44%
Based on the survey, 44% of the people living in Irbil said that they don't have an emergency fund while 56% said that they do.
Affordable living in Irbil
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Irbil?
Around 56% of surveyed residents think that living in Irbil is affordable with proper budgeting while 44% reported that it is just too expensive and not affordable even with frugality and thriftness.
Retirement, pension plans, and life after work in Irbil
What does the retirement lifestyle look like in Irbil 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.
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 Irbil:| Age | Amount |
|---|
| 25 | 2.1M IQD |
| 30 | 4.1M IQD |
| 35 | 7.1M IQD |
| 40 | 10M IQD |
| 45 | 15M IQD |
| 50 | 22M IQD |
| 55 | 26M IQD |
| 60 | 32M IQD |
| 65 | 38M IQD |
Retirement Income Distribution
We asked residents about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 12% |
| Savings | 23% |
| Investments | 12% |
| Social Security | 7% |
| Annuities | 7% |
| Part-time Job | 15% |
| Real Estate | 18% |
| Dividends and Interest | 7% |
Retirement Monthly Expenses in Irbil 55,000 IQD
$42 | 490,000 IQD
$380 | 5.5M IQD
$4,200 |
Food Prices, Dining Expenses, and Grocery Costs in Irbil
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Irbil
Dining out, food, and beverages costs. Price variations for common food items.
Fast food combo meal price
| 1,000 IQD | 2,000 IQD | 3,400 IQD |
The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Irbil is approximatly 2,000 IQD with meal cost ranging from 1,000 IQD to 3,400 IQD. The typical combo meal consists of a burger, french fries, and a drink.
Restaurant meal for one price
| 3,400 IQD | 5,100 IQD | 10,000 IQD |
If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 3,400 IQD and 10,000 IQD with 5,100 IQD being the average price of a plate for one person at a regular restaurant in Irbil.
Fine dining meal for one price
| 6,800 IQD | 10,000 IQD | 41,000 IQD |
The price range of a meal at fine-dining restaurant is 6,800 IQD to 41,000 IQD with the average cost being 10,000 IQD for one person. This is what you would expect to pay a top-tier diner in Irbil.
Beverage prices, cappuccino, latte etc..
| 850 IQD | 1,400 IQD | 2,000 IQD |
The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Irbil is around 1,400 IQD. Price ranges between 850 IQD and 2,000 IQD depending on the type of beverage, the size, and optional add-ons.
Grocery and market costs
Large bottle of milk price
| 680 IQD | 810 IQD | 1,000 IQD |
The average price of a large bottle of milk in Irbil is 810 IQD. The maximum what you would pay for milk is 1,000 IQD and the minimum being 680 IQD depending on the brand of milk and other properties.
12 eggs price
| 510 IQD | 680 IQD | 1,000 IQD |
A dozen eggs costs around 680 IQD on average with 510 IQD and 1,000 IQD being the lower and upper limits respectively.
Fresh whole chicken price
| 1,100 IQD | 1,500 IQD | 2,100 IQD |
The price range of a fresh whole chicken in Irbil is between 1,100 IQD and 2,100 IQD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 1,500 IQD.
Pack of beef price
| 1,300 IQD | 2,000 IQD | 4,000 IQD |
The price of a regular pack of beef or meat is around 2,000 IQD. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
| 550 IQD | 750 IQD | 1,100 IQD |
A bag of rice in Irbil costs around 750 IQD on average with prices rangeing between 550 IQD and 1,100 IQD depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 200 IQD to 510 IQD. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 480 IQD 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
The average grocery-to-income ratio in Irbil is around 26%. This means that people 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 every population group
A single person living alone spends approximately 110,000 IQD per month on grocery and food with expenditure fluctuating between 15,000 IQD and 1.2M IQD depending on location and the type of person. The average cost of food and groceries for a couple is around 140,000 IQD per month. That number can be get as low as 21,000 IQD or a high as 1.3M IQD. Families' spending on grocery ranges from 41,000 IQD to 2.1M IQD with the location, income, and size of the family being the most determinite factors.
Cost of living comparison by city
#1 Al-Mawsil
The average cost of living in Al-Mawsil is 570,000 IQD, which is 24% less than the country average. Al-Mawsil is ranked first in Iraq in terms of expendenture and cost of living.
#2 Kirkuk
The average cost of living in Kirkuk is 660,000 IQD, which is 12% less than the country average. Kirkuk is ranked second in Iraq in terms of expendenture and cost of living.
#3 Irbil
The average cost of living in Irbil is 750,000 IQD, which is same as the country average. Irbil is ranked third in Iraq in terms of expendenture and cost of living.
#4 An-Najaf
The average cost of living in An-Najaf is 850,000 IQD, which is 13% more than the country average. An-Najaf is ranked fourth in Iraq in terms of expendenture and cost of living.
#5 Al-Basrah
The average cost of living in Al-Basrah is 960,000 IQD, which is 28% more than the country average. Al-Basrah is ranked fifth in Iraq in terms of expendenture and cost of living.
#6 Baghdad
The average cost of living in Baghdad is 1.1M IQD, which is 100% less than the country average. Baghdad is ranked sixth in Iraq in terms of expendenture and cost of living.
Published: May 12, 2024 Last Update: April 11, 2025
