Cost Of Living in Jammu & Kashmir 2024
Average monthly spending for singles, couples, students, and families in Jammu & Kashmir
Whether you're living in Jammu & Kashmir 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: INR
Monthly Expenditure ▶ Single
Currency: INR
Monthly Expenditure ▶ Couple
Currency: INR
Monthly Expenditure ▶ Family
Currency: INR
Monthly Expenditure ▶ Student
Currency: INR
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Jammu & Kashmir is 45,000 INR. Expenses can range from 6,300 INR at the minimum level to 300,000 INR at the highest end.
Couples
The average monthly spending of couples in Jammu & Kashmir is 75,000 INR. Expenditure can range from 25,000 INR to 400,000 INR per month.
Families
The average cost of living for families in Jammu & Kashmir is 100,000 INR per month. Families spend anywhere from 35,000 INR to 650,000 INR.
Students
The average monthly expenditure for students in Jammu & Kashmir is 33,000 INR. Students spend from 5,000 INR to 220,000 INR 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 Jammu & Kashmir
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
| 440 INR | 650 INR | 2,600 INR |
Cappuccino or latte
Grocery and market costs
Milk large bottle
12 eggs
Fresh whole chicken
Pack of beef
Medium bag of rice
Bag of tomatos
Bag of apples
Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank
Average car 1-day rental
Average car price
| 170,000 INR | 330,000 INR | 440,000 INR |
Bus ticket one way
Car Service
| 430 INR | 640 INR | 1,300 INR |
Utility cost (monthly)
Utility Bill - Individual
| 380 INR | 2,700 INR | 18,000 INR |
Utility Bill - Couple
| 1,000 INR | 3,400 INR | 22,000 INR |
Utility Bill - Family
| 1,700 INR | 5,000 INR | 32,000 INR |
Internet and cable
Mobile phone charges
| 270 INR | 440 INR | 1,300 INR |
Leisure and activities costs
Movie ticket
One month gym membership
| 520 INR | 640 INR | 1,300 INR |
Cloths and accessories costs
Pair of jeans or pants
Woman dress
| 360 INR | 500 INR | 1,600 INR |
Woman shoes
| 340 INR | 460 INR | 1,100 INR |
Men's shoes
Men suit
| 320 INR | 400 INR | 2,100 INR |
Regular t-shirt
Housing costs / monthly rent
Studio apartment
| 5,400 INR | 8,100 INR | 21,000 INR |
1-bedroom apartment
| 8,100 INR | 13,000 INR | 32,000 INR |
2-bedroom apartment
| 11,000 INR | 16,000 INR | 43,000 INR |
Housing costs / Buying
Studio apartment
| 1.1M INR | 1.6M INR | 3.2M INR |
1-bedroom apartment
| 1.3M INR | 2.1M INR | 8.1M INR |
2-bedroom apartment
| 2.1M INR | 6.4M INR | 13M INR |
Furniture Costs
King Size Bed
| 6,600 INR | 8,300 INR | 11,000 INR |
Double Bed
| 4,400 INR | 6,600 INR | 8,300 INR |
Single Bed
| 3,900 INR | 5,100 INR | 6,600 INR |
Living Room
| 7,400 INR | 9,500 INR | 33,000 INR |
Dining Table
| 3,300 INR | 4,400 INR | 8,300 INR |
Sofa or Couch
| 4,400 INR | 6,000 INR | 13,000 INR |
Electronics and House Appliance Costs
TV Set
| 4,400 INR | 6,600 INR | 13,000 INR |
Fridge or Freezer
| 3,900 INR | 6,000 INR | 8,300 INR |
Washing Machine
| 5,100 INR | 7,400 INR | 13,000 INR |
Stove or Cooker
| 4,700 INR | 6,000 INR | 8,300 INR |
Mobile Phone
| 5,500 INR | 6,600 INR | 9,500 INR |
Laptop or Computer
| 6,000 INR | 7,400 INR | 13,000 INR |
Expenditure to Income Ratio in Jammu & Kashmir
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
82%
75% to 91%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 3% |
| 50% - 60% | 8% |
| 60% - 70% | 14% |
| 70% - 80% | 24% |
| 80% - 90% | 22% |
| 90% - 100% | 12% |
| 100% - 110% | 6% |
| 110% - 120% | 4% |
| 120% - 130% | 3% |
| 130% - 140% | 3% |
| > 140% | 2% |
Interpretation and Analysis
The average spending-to-salary ratio in Jammu & Kashmir is 82%
This means that on average, people spend around 82% of their income for living.
According to the distribution table, 14% 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
74%
Spending-Income-Ratio
68%
82%
Couple
78%
Spending-Income-Ratio
72%
86%
Family
86%
Spending-Income-Ratio
79%
95%
How do people spend their money in Jammu & Kashmir?
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 Expenditure22%
22% of total expenses on average (11% to 30%)
| LOW | $18 1,500 INR |
| AVERAGE | $230 19,000 INR |
| HIGH | $2,300 190,000 INR |
| Per Month |
People living in Jammu & Kashmir typically spend from 11% to 30% of their total monthly expenditure on housing with 22% being the average. The average spend on housing is 19,000 INR with expenditure ranging from 1,500 INR to 190,000 INR. 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 | $3 250 INR |
| AVERAGE | $39 3,200 INR |
| HIGH | $390 32,000 INR |
| Per Month |
Utility expenditure like electricity, water, and gas in Jammu & Kashmir ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 3,200 INR with 250 INR and 32,000 INR being the upper and lower limits.
Transport, Fuel, Commute6%
6% of total expenses on average (3% to 10%)
| LOW | $6 500 INR |
| AVERAGE | $78 6,500 INR |
| HIGH | $780 65,000 INR |
| 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 500 INR to 65,000 INR on commuting with 6,500 INR being the norm for most people in one month. This means that money spent on transport constitutes about 6% of total spending on average but can go as low as 3% or as high as 10%.
Food and Groceries Cost29%
29% of total expenses on average (21% to 35%)
| LOW | $15 1,200 INR |
| AVERAGE | $200 16,000 INR |
| HIGH | $2,000 160,000 INR |
| Per Month |
The average outlay on groceries in a month in Jammu & Kashmir is 16,000 INR. The cost of groceries can range between 1,200 INR to 160,000 INR. People spend on average about 29% on food and groceries with upper and lower bounds of 21% and 35% respectively.
Healthcare and Medical Services11%
11% of total expenses on average (6% to 14%)
| LOW | $4.2 350 INR |
| AVERAGE | $55 4,500 INR |
| HIGH | $550 45,000 INR |
| Per Month |
People in Jammu & Kashmir allocate 6% to 14% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 11%. The range of medical expenses range from 350 INR to 45,000 INR with 4,500 INR being the norm.
Leisure and Shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $2.4 200 INR |
| AVERAGE | $31 2,600 INR |
| HIGH | $310 26,000 INR |
| 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 200 INR to 26,000 INR with 2,600 INR 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 | $3.6 300 INR |
| AVERAGE | $47 3,900 INR |
| HIGH | $470 39,000 INR |
| 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 3,900 INR per month with 300 INR being the minimum spent amount and 39,000 INR being the maximum.
Other Expenses15%
15% of total expenses on average (10% to 22%)
| LOW | $7.8 650 INR |
| AVERAGE | $100 8,400 INR |
| HIGH | $1,000 84,000 INR |
| Per Month |
How much money can you save in Jammu & Kashmir 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 Jammu & Kashmir manage to save money from their income every month?
Almost 54% of the surveyed people in Jammu & Kashmir said that they can save some money at the end of each month while 46% said that aren't saving anything.
Percentage of people saving money by population group in Jammu & Kashmir
| Group | Savers | Non Savers |
|---|
| Singles | 54% | 46% |
| Couples | 50% | 50% |
| Families | 45% | 55% |
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
1,500 INR
$18 | 19,000 INR
$230 | 190,000 INR
$2,300 |
For most people, 9.6% to 29% of their monthly income is what they can allocate to their savings, with 17% being the average. The amount of money that people can save is approximately 19,000 INR on average with savings ranging from 1,500 INR to 190,000 INR.
54% of surveyed singles reported some of their income going to savings while 50% of couples said the same. 45% of families confirmed their ability to save money.
How much money do people actually save in Jammu & Kashmir?
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
1,500 INR
$18 | 13,000 INR
$160 | 88,000 INR
$1,100 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 34% |
| 10% - 20% | 26% |
| 20% - 30% | 17% |
| 30% - 40% | 11% |
| 40% - 50% | 9% |
| > 50% | 3% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 12% to 31% of their monthly income to savings, with 21% being the average for most singles. The average amount of money that singles are able to save is 13,000 INR with 1,500 INR and 88,000 INR being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
7,300 INR
$88 | 22,000 INR
$270 | 120,000 INR
$1,400 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 38% |
| 10% - 20% | 28% |
| 20% - 30% | 20% |
| 30% - 40% | 6% |
| 40% - 50% | 6% |
| > 50% | 2% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 11% to 30% of their monthly income, with 19% being the average for most couples. The average amount of money that couples can save is 22,000 INR with 7,300 INR and 120,000 INR being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
10,000 INR
$120 | 29,000 INR
$350 | 190,000 INR
$2,300 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 41% |
| 10% - 20% | 31% |
| 20% - 30% | 21% |
| 30% - 40% | 3% |
| 40% - 50% | 3% |
| > 50% | 1% |
Interpretation and Analysis
Families in Jammu & Kashmir can save anywhere between 9.6% 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 29,000 INR with 10,000 INR and 190,000 INR being the minimum and maximum respectively.
Saving Challenges in Jammu & Kashmir
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Jammu & Kashmir. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 4% |
| High Expenses | 7% |
| Debt and Loans | 11% |
| Lack of Budgeting Skills | 12% |
| Impulsive Spending | 12% |
| Financial Emergencies | 7% |
| Living the moment | 5% |
| Will do it later | 22% |
| Inflation | 14% |
| Social Pressure | 2% |
| Market Instability | 2% |
Around 4% of the people said that their salary is too low to accommodate a portion for savings while 7% said that the high cost of living leaves little room for savings. 11% 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. 22% 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. 14% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 2% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.
Typical saving choices for people in Jammu & Kashmir
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 13% |
| Gold | 14% |
| Savings Accounts | 16% |
| Retirement Accounts | 9% |
| Cash Savings | 23% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 3% |
| Bonds | 4% |
| Mutual Funds | 2% |
| Certificates of Deposit | 2% |
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 Jammu & Kashmir
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Jammu & Kashmir?
Around 47% of surveyed residents think that living in Jammu & Kashmir is affordable with proper budgeting while 53% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Jammu & Kashmir
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 options54%
Few low-cost options47%
Based on the survey, 54% of the people living in Jammu & Kashmir have no problem finding low-cost alternatives to support a frugal lifestyle while 47% 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 Jammu & Kashmir whether they have an emergency fund and the answers were as follows.
Yes47%
No53%
Based on the survey, 53% of the people living in Jammu & Kashmir said that they don't have an emergency fund while 47% said that they do.
Financial Literacy in India
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 Leteracy44%
We asked residents of India whether they acquired any adequate personal financial training in their lives. Approximately 56% 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 44% 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 India have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 46% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 54% said that they have everything under control.
Struggles with finance46%
Easily manages finances54%
Financial goals of people in Jammu & Kashmir
In an attempt to understand the economic situation in Jammu & Kashmir, 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 | 9% |
| Debt Reduction | 46% |
| Retirement Savings | 11% |
| Education Funding | 6% |
| Homeownership | 19% |
| Investing | 6% |
| Travel or Lifestyle | 5% |
| Healthcare Expenses | 16% |
| Financial Independence | 3% |
Around 9% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 46% said their number one priority is to pay off high-interest debt or loans and improve credit. 11% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 6% reported that their priority is saving for the tuition fees and education costs of their children while 19% 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 5% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 16% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Retirement, pension plans, and life after work in Jammu & Kashmir
What does the retirement lifestyle look like in Jammu & Kashmir and how much retirement savings are required?
Retirement age
The retirement age for most employees in India 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 Jammu & Kashmir:| Age | Amount |
|---|
| 25 | 170,000 INR |
| 30 | 340,000 INR |
| 35 | 590,000 INR |
| 40 | 840,000 INR |
| 45 | 1.3M INR |
| 50 | 1.8M INR |
| 55 | 2.1M INR |
| 60 | 2.6M INR |
| 65 | 3.1M INR |
Retirement Income Distribution
We asked residents of Jammu & Kashmir about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 11% |
| Savings | 24% |
| Investments | 11% |
| Social Security | 6% |
| Annuities | 6% |
| Part-time Job | 17% |
| Real Estate | 19% |
| Dividends and Interest | 6% |
Retirement Monthly Expenses in Jammu & Kashmir 3,700 INR
$45 | 33,000 INR
$400 | 220,000 INR
$2,700 |
Debt, loans, and mortgages in Jammu & Kashmir
Percentage of people who are in debt
According to the survey, 26% of the people in Jammu & Kashmir 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 Jammu & Kashmir
Debt to income ratio
30%
22% to 38%
( 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 Jammu & Kashmir goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 4% |
| 50% - 60% | 21% |
| 40% - 50% | 16% |
| 30% - 40% | 18% |
| 20% - 30% | 8% |
| 10% - 20% | 9% |
| 0% - 10% | 25% |
According to our data, 4% of the debtors in Jammu & Kashmir pay 60%+ of their income as debt settlement while 21% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 16% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 18% dedicated 30% to 40% of income for same. Things are looking brighter for 8% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Jammu & Kashmir
| Debt | % People |
|---|
| Real Estate Mortgage | 6% |
| Auto Loan | 12% |
| Student Loan | 4% |
| Credit Card | 32% |
| Personal Loan | 46% |
6% of debtors in Jammu & Kashmir confirm that real estate mortgages constitutes the main part of their outstanding debt while 32% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 12% of people and personal loans rose at 46%. Lastly, student loans are the main source of debt for 4% of debtors in Jammu & Kashmir.
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 Jammu & Kashmir
Besides measuring the loan-to-income ratio, we asked residents of Jammu & Kashmir 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 | 48% |
| Once a year | 25% |
| Twice a year | 13% |
| Three times a year | 9% |
| Four times a year | 5% |
Housing costs, accommodation, and housing affordability in Jammu & Kashmir
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Jammu & Kashmir
Monthly Rent Prices
Studio apartment monthly rent cost
| 5,400 INR | 8,100 INR | 21,000 INR |
1-bedroom apartment monthly rent cost
| 8,100 INR | 13,000 INR | 32,000 INR |
2-bedroom apartment monthly rent cost
| 11,000 INR | 16,000 INR | 43,000 INR |
3-bedroom apartment monthly rent cost
| 13,000 INR | 21,000 INR | 59,000 INR |
Furnished apartment monthly rent cost
| 26,000 INR | 64,000 INR | 130,000 INR |
Townhouse monthly rent cost
| 21,000 INR | 32,000 INR | 92,000 INR |
House monthly rent cost
| 26,000 INR | 64,000 INR | 130,000 INR |
Villa monthly rent cost
| 32,000 INR | 81,000 INR | 130,000 INR |
The monthly rental cost of a studio apartment in Jammu & Kashmir ranges between 5,400 INR and 21,000 INR, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 8,100 INR to 32,000 INR. Two-bedroom rentals rate ranges between 11,000 INR and 43,000 INR per month. The monthly rental for a three-bedroom apartment ranges from 13,000 INR to 59,000 INR. The average rent of a townhouse in Jammu & Kashmir is around 32,000 INR while house rental costs can be as high as 64,000 INR per month. Finally, if you want to rent a villa, expect to pay anywhere from 32,000 INR to 130,000 INR per month.
Apartment and house prices in Jammu & Kashmir
Cost of buying a property
Studio apartment price
| 1.1M INR | 1.6M INR | 3.2M INR |
1-bedroom apartment price
| 1.3M INR | 2.1M INR | 8.1M INR |
2-bedroom apartment price
| 2.1M INR | 6.4M INR | 13M INR |
3-bedroom apartment price
| $86,000 | $130,000 | $390,000 |
Townhouse price
| $110,000 | $260,000 | $970,000 |
House price
Villa price
The average price of a studio apartment in Jammu & Kashmir can range from 1.1M INR to 3.2M INR depending on location. One bedroom cost can be anywhere from 1.3M INR to 8.1M INR. A villa can cost you 72M INR on average with prices ranging from 13M INR to 110M INR.
If you're leasing or purchasing, housing costs in Jammu & Kashmir 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
| 32 | x90 monthly income | 188 |
Property prices in Jammu & Kashmir can be x90 to x188 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x90 multiples of the average monthly salary in Jammu & Kashmir.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Jammu & Kashmir is around 28%. This means that people pay 28% of their income for rent. Those figures can range from 18% 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
25% 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.
| 100 INR | 1,300 INR | 13,000 INR |
Urban vs. rural living costs
Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.
Monthly costs and expenses of energy and basic utilities in Jammu & Kashmir
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Jammu & Kashmir
Utility Bill Cost / Electricity + Water + Gas / Individual
| 380 INR | 2,700 INR | 18,000 INR |
Utility Bill Cost / Electricity + Water + Gas / Couple
| 1,000 INR | 3,400 INR | 22,000 INR |
Utility Bill Cost / Electricity + Water + Gas / Family
| 1,700 INR | 5,000 INR | 32,000 INR |
Internet and cable cost
Mobile phone bill and charges
| 270 INR | 440 INR | 1,300 INR |
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 Jammu & Kashmir ranges between 380 INR and 18,000 INR with average being 2,700 INR, meanwhile the expenditure of couples is slightly higher at 3,400 INR with 1,000 INR and 22,000 INR 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 5,000 INR. The cost of internet and WiFi is unchanged among the three groups and ranges from 330 INR to 890 INR with 660 INR being the average internet bill. Finally, the average monthly mobile charges is around 440 INR but can range between 270 INR and 1,300 INR 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 Jammu & Kashmir is around 5.7%. This means that people pay 5.7% of their income for energy, water, internet, and mobile charges. Those figures can range from 2.9% to 9.6% depending on salary and location.
Food Prices, Dining Expenses, and Grocery Costs in Jammu & Kashmir
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Jammu & Kashmir
Dining out, food, and beverages costs. Price variations for common food items.
Fast food combo meal price
The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Jammu & Kashmir is approximatly 130 INR with meal cost ranging from 66 INR to 220 INR. The typical combo meal consists of a burger, french fries, and a drink.
Restaurant meal for one price
If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 220 INR and 650 INR with 330 INR being the average price of a plate for one person at a regular restaurant in Jammu & Kashmir.
Fine dining meal for one price
| 440 INR | 650 INR | 2,600 INR |
The price range of a meal at fine-dining restaurant is 440 INR to 2,600 INR with the average cost being 650 INR for one person. This is what you would expect to pay a top-tier diner in Jammu & Kashmir.
Beverage prices, cappuccino, latte etc..
The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Jammu & Kashmir is around 89 INR. Price ranges between 55 INR and 130 INR depending on the type of beverage, the size, and optional add-ons.
Grocery and market costs
Large bottle of milk price
The average price of a large bottle of milk in Jammu & Kashmir is 53 INR. The maximum what you would pay for milk is 66 INR and the minimum being 44 INR depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 44 INR on average with 33 INR and 66 INR being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Jammu & Kashmir is between 76 INR and 140 INR depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 98 INR.
Pack of beef price
The price of a regular pack of beef or meat is around 130 INR. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Jammu & Kashmir costs around 49 INR on average with prices rangeing between 36 INR and 69 INR depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 13 INR to 33 INR. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 31 INR 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 Jammu & Kashmir 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 7,200 INR per month on grocery and food with expenditure fluctuating between 1,000 INR and 48,000 INR depending on location and the type of person. The average cost of food and groceries for a couple is around 10,000 INR per month. That number can be get as low as 3,500 INR or a high as 56,000 INR. Families' spending on grocery ranges from 6,300 INR to 120,000 INR with the location, income, and size of the family being the most determinite factors.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Jammu & Kashmir
Housing cost for a single person28%
28% of total expenses on average (16% to 40%)
| LOW | $27 2,300 INR |
| AVERAGE | $190 16,000 INR |
| HIGH | $1,300 110,000 INR |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile9%
9% of total expenses on average (5% to 14%)
| LOW | $4.5 380 INR |
| AVERAGE | $32 2,700 INR |
| HIGH | $220 18,000 INR |
| Per Month |
Transport and Fuel Cost4%
4% of total expenses on average (2% to 10%)
| LOW | $6 500 INR |
| AVERAGE | $43 3,600 INR |
| HIGH | $290 24,000 INR |
| Per Month |
Food and Groceries Cost20%
20% of total expenses on average (14% to 25%)
| LOW | $12 1,000 INR |
| AVERAGE | $86 7,200 INR |
| HIGH | $580 48,000 INR |
| Per Month |
Healthcare Cost13%
13% of total expenses on average (7% to 17%)
| LOW | $6.8 560 INR |
| AVERAGE | $49 4,000 INR |
| HIGH | $320 27,000 INR |
| Per Month |
Leisure and Shopping Expenditure2%
2% of total expenses on average (2% to 5%)
| LOW | $3.8 310 INR |
| AVERAGE | $27 2,200 INR |
| HIGH | $180 15,000 INR |
| Per Month |
Education Cost1%
1% of total expenses on average (0.00% to 3%)
| LOW | $1.5 130 INR |
| AVERAGE | $11 900 INR |
| HIGH | $72 6,000 INR |
| Per Month |
Other Expenses23%
23% of total expenses on average (15% to 27%)
| LOW | $14 1,100 INR |
| AVERAGE | $97 8,100 INR |
| HIGH | $650 54,000 INR |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Jammu & Kashmir
Housing cost for a couple25%
25% of total expenses on average (18% to 35%)
| LOW | $100 8,500 INR |
| AVERAGE | $310 25,000 INR |
| HIGH | $1,600 140,000 INR |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile8%
8% of total expenses on average (6% to 12%)
| LOW | $12 1,000 INR |
| AVERAGE | $41 3,400 INR |
| HIGH | $260 22,000 INR |
| Per Month |
Transport and Fuel Cost8%
8% of total expenses on average (2% to 13%)
| LOW | $36 3,000 INR |
| AVERAGE | $110 9,000 INR |
| HIGH | $580 48,000 INR |
| Per Month |
Food and Groceries Cost18%
18% of total expenses on average (13% to 23%)
| LOW | $42 3,500 INR |
| AVERAGE | $130 10,000 INR |
| HIGH | $670 56,000 INR |
| Per Month |
Healthcare Cost15%
15% of total expenses on average (9% to 19%)
| LOW | $33 2,700 INR |
| AVERAGE | $99 8,200 INR |
| HIGH | $530 44,000 INR |
| Per Month |
Leisure and Shopping Cost3%
3% of total expenses on average (1% to 6%)
| LOW | $18 1,500 INR |
| AVERAGE | $54 4,500 INR |
| HIGH | $290 24,000 INR |
| Per Month |
Education Cost1%
1% of total expenses on average (0.00% to 3%)
| LOW | $6 500 INR |
| AVERAGE | $18 1,500 INR |
| HIGH | $96 8,000 INR |
| Per Month |
Other Expenses22%
22% of total expenses on average (16% to 28%)
| LOW | $51 4,200 INR |
| AVERAGE | $150 13,000 INR |
| HIGH | $820 68,000 INR |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Jammu & Kashmir
Housing cost for a family24%
24% of total expenses on average (19% to 34%)
| LOW | $130 11,000 INR |
| AVERAGE | $380 32,000 INR |
| HIGH | $2,500 210,000 INR |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile6%
6% of total expenses on average (4% to 9%)
| LOW | $21 1,700 INR |
| AVERAGE | $60 5,000 INR |
| HIGH | $390 32,000 INR |
| Per Month |
Transport and Fuel Expenses4%
4% of total expenses on average (2% to 6%)
| LOW | $42 3,500 INR |
| AVERAGE | $120 10,000 INR |
| HIGH | $780 65,000 INR |
| Per Month |
Food and Groceries Cost22%
22% of total expenses on average (15% to 28%)
| LOW | $76 6,300 INR |
| AVERAGE | $220 18,000 INR |
| HIGH | $1,400 120,000 INR |
| Per Month |
Healthcare Expenses12%
12% of total expenses on average (8% to 17%)
| LOW | $38 3,100 INR |
| AVERAGE | $120 10,000 INR |
| HIGH | $620 52,000 INR |
| Per Month |
Leisure and Shopping Cost2%
2% of total expenses on average (1% to 6%)
| LOW | $21 1,700 INR |
| AVERAGE | $60 5,000 INR |
| HIGH | $390 32,000 INR |
| Per Month |
Education Cost13%
13% of total expenses on average (6% to 21%)
| LOW | $59 4,900 INR |
| AVERAGE | $170 14,000 INR |
| HIGH | $1,100 91,000 INR |
| Per Month |
Other Expenses17%
17% of total expenses on average (10% to 22%)
| LOW | $34 2,800 INR |
| AVERAGE | $96 8,000 INR |
| HIGH | $620 52,000 INR |
| Per Month |
StudentCost of living and expenses break down for students living in Jammu & Kashmir
Housing costs for Student16%
16% of total expenses on average (11% to 22%)
| LOW | $14 1,200 INR |
| AVERAGE | $96 8,000 INR |
| HIGH | $640 53,000 INR |
| Per Month |
Utilities, Electricity, Water, Internet, and Mobile Expenses7%
7% of total expenses on average (5% to 11%)
| LOW | $2.4 200 INR |
| AVERAGE | $16 1,300 INR |
| HIGH | $110 8,900 INR |
| Per Month |
Transport and Fuel Cost3%
3% of total expenses on average (4% to 9%)
| LOW | $4.2 350 INR |
| AVERAGE | $28 2,300 INR |
| HIGH | $190 15,000 INR |
| Per Month |
Food and Groceries Expenditure24%
24% of total expenses on average (18% to 28%)
| LOW | $12 1,000 INR |
| AVERAGE | $80 6,600 INR |
| HIGH | $530 44,000 INR |
| Per Month |
Healthcare Cost10%
10% of total expenses on average (7% to 13%)
| LOW | $3.6 300 INR |
| AVERAGE | $24 2,000 INR |
| HIGH | $160 13,000 INR |
| Per Month |
Leisure and Shopping Cost2%
2% of total expenses on average (1% to 6%)
| LOW | $3 250 INR |
| AVERAGE | $20 1,700 INR |
| HIGH | $130 11,000 INR |
| Per Month |
Education Cost18%
18% of total expenses on average (11% to 23%)
| LOW | $11 950 INR |
| AVERAGE | $76 6,300 INR |
| HIGH | $510 42,000 INR |
| Per Month |
Other Expenses20%
20% of total expenses on average (14% to 26%)
| LOW | $9 750 INR |
| AVERAGE | $60 5,000 INR |
| HIGH | $400 33,000 INR |
| Per Month |
