Cost Of Living in Jinan 2025

cost of living chart - average monthly expenditure in Jinan

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

Whether you're living in Jinan 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: CNY
1,200 15,000 150,000
MINIMUM AVERAGE MAXIMUM
$160 $2,100 $21,000

Monthly Expenditure ▶ Single

Currency: CNY
1,500 11,000 71,000
MINIMUM AVERAGE MAXIMUM
$210 $1,500 $9,800

Monthly Expenditure ▶ Couple

Currency: CNY
5,900 18,000 94,000
MINIMUM AVERAGE MAXIMUM
$820 $2,500 $13,000

Monthly Expenditure ▶ Family

Currency: CNY
8,300 24,000 150,000
MINIMUM AVERAGE MAXIMUM
$1,100 $3,300 $21,000

Monthly Expenditure ▶ Student

Currency: CNY
1,200 7,800 52,000
MINIMUM AVERAGE MAXIMUM
$160 $1,100 $7,200
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Jinan is 11,000 CNY. Expenses can range from 1,500 CNY at the minimum level to 71,000 CNY at the highest end.


Couples

The average monthly spending of couples in Jinan is 18,000 CNY. Expenditure can range from 5,900 CNY to 94,000 CNY per month.


Families

The average cost of living for families in Jinan is 24,000 CNY per month. Families spend anywhere from 8,300 CNY to 150,000 CNY.


Students

The average monthly expenditure for students in Jinan is 7,800 CNY. Students spend from 1,200 CNY to 52,000 CNY 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 Jinan


Chart showing the prices and cost of grocery, food, restaurant meals, market, and beverages in Jinan

Dining, food, and beverages costs


Fast food combo meal

15 CNY 30 CNY 50 CNY
MINIMUM AVERAGE MAXIMUM
$2.1 $4.2 $7

Restaurant meal for one

52 CNY 78 CNY 160 CNY
MINIMUM AVERAGE MAXIMUM
$7.2 $11 $22

Fine dining meal for one

100 CNY 160 CNY 620 CNY
MINIMUM AVERAGE MAXIMUM
$14 $22 $86

Cappuccino or latte

13 CNY 20 CNY 30 CNY
MINIMUM AVERAGE MAXIMUM
$1.7 $2.8 $4.2

Grocery and market costs


Milk large bottle

10 CNY 12 CNY 15 CNY
MINIMUM AVERAGE MAXIMUM
$1.4 $1.7 $2.1

12 eggs

7.5 CNY 10 CNY 15 CNY
MINIMUM AVERAGE MAXIMUM
$1 $1.4 $2.1

Fresh whole chicken

17 CNY 22 CNY 31 CNY
MINIMUM AVERAGE MAXIMUM
$2.4 $3.1 $4.4

Pack of beef

20 CNY 30 CNY 60 CNY
MINIMUM AVERAGE MAXIMUM
$2.8 $4.2 $8.4

Medium bag of rice

8.1 CNY 11 CNY 16 CNY
MINIMUM AVERAGE MAXIMUM
$1.1 $1.5 $2.2

Bag of tomatos

3 CNY 4 CNY 7.5 CNY
MINIMUM AVERAGE MAXIMUM
$0.42 $0.56 $1

Bag of apples

5.4 CNY 7 CNY 12 CNY
MINIMUM AVERAGE MAXIMUM
$0.75 $0.98 $1.6
Chart showing the prices and cost of commute, travel, and transportation in Jinan

Commute, travel, and transportation costs


20 minutes taxi ride

13 CNY 16 CNY 31 CNY
MINIMUM AVERAGE MAXIMUM
$1.8 $2.2 $4.3

Average car full tank

75 CNY 100 CNY 200 CNY
MINIMUM AVERAGE MAXIMUM
$10 $14 $28

Average car 1-day rental

80 CNY 110 CNY 160 CNY
MINIMUM AVERAGE MAXIMUM
$11 $15 $22

Average car price

38,000 CNY 75,000 CNY 100,000 CNY
MINIMUM AVERAGE MAXIMUM
$5,200 $10,000 $14,000

Bus ticket one way

2.7 CNY 4 CNY 8 CNY
MINIMUM AVERAGE MAXIMUM
$0.37 $0.55 $1.1

Car Service

110 CNY 160 CNY 320 CNY
MINIMUM AVERAGE MAXIMUM
$15 $22 $44
Chart showing the prices and cost of utility, energy, water, and gas for a family in Jinan

Utility cost (monthly)


Utility Bill - Individual

90 CNY 640 CNY 4,300 CNY
MINIMUM AVERAGE MAXIMUM
$13 $89 $590

Utility Bill - Couple

240 CNY 800 CNY 5,200 CNY
MINIMUM AVERAGE MAXIMUM
$33 $110 $720

Utility Bill - Family

410 CNY 1,200 CNY 7,700 CNY
MINIMUM AVERAGE MAXIMUM
$57 $160 $1,100

Internet and cable

75 CNY 150 CNY 200 CNY
MINIMUM AVERAGE MAXIMUM
$10 $21 $28

Mobile phone charges

60 CNY 100 CNY 300 CNY
MINIMUM AVERAGE MAXIMUM
$8.4 $14 $42

Leisure and activities costs


Movie ticket

38 CNY 50 CNY 75 CNY
MINIMUM AVERAGE MAXIMUM
$5.2 $7 $10

One month gym membership

130 CNY 160 CNY 320 CNY
MINIMUM AVERAGE MAXIMUM
$18 $22 $44
Chart showing the prices and cost of clothing and accessories in Jinan

Cloths and accessories costs


Pair of jeans or pants

94 CNY 130 CNY 200 CNY
MINIMUM AVERAGE MAXIMUM
$13 $18 $28

Woman dress

89 CNY 120 CNY 400 CNY
MINIMUM AVERAGE MAXIMUM
$12 $17 $55

Woman shoes

84 CNY 110 CNY 270 CNY
MINIMUM AVERAGE MAXIMUM
$12 $16 $37

Men's shoes

73 CNY 89 CNY 180 CNY
MINIMUM AVERAGE MAXIMUM
$10 $12 $25

Men suit

80 CNY 100 CNY 530 CNY
MINIMUM AVERAGE MAXIMUM
$11 $14 $74

Regular t-shirt

40 CNY 53 CNY 160 CNY
MINIMUM AVERAGE MAXIMUM
$5.5 $7.4 $22
Chart showing the prices and cost of housing, accommodation, and rent in Jinan

Housing costs / monthly rent


Studio apartment

1,300 CNY 2,000 CNY 5,300 CNY
MINIMUM AVERAGE MAXIMUM
$180 $280 $740

1-bedroom apartment

2,000 CNY 3,200 CNY 8,000 CNY
MINIMUM AVERAGE MAXIMUM
$280 $440 $1,100

2-bedroom apartment

2,700 CNY 4,000 CNY 11,000 CNY
MINIMUM AVERAGE MAXIMUM
$370 $550 $1,500

Housing costs / Buying


Studio apartment

270,000 CNY 400,000 CNY 800,000 CNY
MINIMUM AVERAGE MAXIMUM
$37,000 $55,000 $110,000

1-bedroom apartment

320,000 CNY 530,000 CNY 2M CNY
MINIMUM AVERAGE MAXIMUM
$44,000 $74,000 $280,000

2-bedroom apartment

530,000 CNY 1.6M CNY 3.2M CNY
MINIMUM AVERAGE MAXIMUM
$74,000 $220,000 $440,000
Chart showing the prices and cost of furniture in Jinan

Furniture Costs


King Size Bed

1,500 CNY 1,900 CNY 2,500 CNY
MINIMUM AVERAGE MAXIMUM
$210 $260 $350

Double Bed

1,000 CNY 1,500 CNY 1,900 CNY
MINIMUM AVERAGE MAXIMUM
$140 $210 $260

Single Bed

890 CNY 1,200 CNY 1,500 CNY
MINIMUM AVERAGE MAXIMUM
$120 $160 $210

Living Room

1,700 CNY 2,200 CNY 7,500 CNY
MINIMUM AVERAGE MAXIMUM
$230 $300 $1,000

Dining Table

750 CNY 1,000 CNY 1,900 CNY
MINIMUM AVERAGE MAXIMUM
$100 $140 $260

Sofa or Couch

1,000 CNY 1,400 CNY 3,000 CNY
MINIMUM AVERAGE MAXIMUM
$140 $190 $420
Chart showing the prices and cost of electronic devices and appliances in Jinan

Electronics and House Appliance Costs


TV Set

1,000 CNY 1,500 CNY 3,000 CNY
MINIMUM AVERAGE MAXIMUM
$140 $210 $420

Fridge or Freezer

890 CNY 1,400 CNY 1,900 CNY
MINIMUM AVERAGE MAXIMUM
$120 $190 $260

Washing Machine

1,200 CNY 1,700 CNY 3,000 CNY
MINIMUM AVERAGE MAXIMUM
$160 $230 $420

Stove or Cooker

1,100 CNY 1,400 CNY 1,900 CNY
MINIMUM AVERAGE MAXIMUM
$150 $190 $260

Mobile Phone

1,300 CNY 1,500 CNY 2,200 CNY
MINIMUM AVERAGE MAXIMUM
$170 $210 $300

Laptop or Computer

1,400 CNY 1,700 CNY 3,000 CNY
MINIMUM AVERAGE MAXIMUM
$190 $230 $420

Expenditure to Income Ratio in Jinan

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.

Cost of living and expenditure to income ratio in Jinan

Spending to Income Ratio

91%

82% to 100%

( expenditure / income ) x 100


Expense to income distribution levels

Spending To Income Ratio% People
< 50%5%
50% - 60%10%
60% - 70%16%
70% - 80%25%
80% - 90%18%
90% - 100%10%
100% - 110%6%
110% - 120%4%
120% - 130%3%
130% - 140%2%
> 140%2%

Interpretation and Analysis

The average spending-to-salary ratio in Jinan is 91% This means that on average, people spend around 91% of their income for living. According to the distribution table, 16% 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
82%
Spending-Income-Ratio
74%
90%

Couple
86%
Spending-Income-Ratio
78%
95%

Family
95%
Spending-Income-Ratio
86%
110%
Distribution of monthly cost of living expenses in Jinan

How do people spend their money in Jinan?

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$49   350 CNY
AVERAGE$640   4,600 CNY
HIGH$6,400   46,000 CNY
Per Month

People living in Jinan typically spend from 14% to 33% of their total monthly expenditure on housing with 25% being the average. The average spend on housing is 4,600 CNY with expenditure ranging from 350 CNY to 46,000 CNY. 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, Mobile7%

7% of total expenses on average (4% to 11%)

LOW$8.2   59 CNY
AVERAGE$110   770 CNY
HIGH$1,100   7,700 CNY
Per Month

Utility expenditure like electricity, water, and gas in Jinan ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 770 CNY with 59 CNY and 7,700 CNY being the upper and lower limits.

Transport, Fuel, Commute7%

7% of total expenses on average (3% to 11%)

LOW$16   120 CNY
AVERAGE$210   1,500 CNY
HIGH$2,100   15,000 CNY
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 120 CNY to 15,000 CNY on commuting with 1,500 CNY 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$41   300 CNY
AVERAGE$530   3,800 CNY
HIGH$5,300   38,000 CNY
Per Month

The average outlay on groceries in a month in Jinan is 3,800 CNY. The cost of groceries can range between 300 CNY to 38,000 CNY. 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$11   83 CNY
AVERAGE$150   1,100 CNY
HIGH$1,500   11,000 CNY
Per Month

People in Jinan 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 83 CNY to 11,000 CNY with 1,100 CNY being the norm.

Leisure and Shopping5%

5% of total expenses on average (2% to 9%)

LOW$6.6   47 CNY
AVERAGE$85   610 CNY
HIGH$850   6,100 CNY
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 47 CNY to 6,100 CNY with 610 CNY being the average. Speaking of percentages, that equates to 2% to 9% of total expenses with an average of 5% for most residents.

Education and Schooling5%

5% of total expenses on average (3% to 11%)

LOW$9.8   71 CNY
AVERAGE$130   920 CNY
HIGH$1,300   9,200 CNY
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 920 CNY per month with 71 CNY being the minimum spent amount and 9,200 CNY being the maximum.

Other Expenses13%

13% of total expenses on average (8% to 20%)

LOW$21   150 CNY
AVERAGE$280   2,000 CNY
HIGH$2,800   20,000 CNY
Per Month
Percentage of people who manage to save money from their income every month in Jinan

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


Saving Money
66%
Not Saving
34%

Almost 66% of the surveyed people in Jinan said that they can save some money at the end of each month while 34% said that aren't saving anything.


Percentage of people saving money by population group in Jinan

GroupSaversNon Savers
Singles70%30%
Couples65%36%
Families59%41%

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.


Savings to income ratio in Jinan

Saving to Income Ratio

11% 18% of income 32%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

420 CNY
$58
5,400 CNY
$750
54,000 CNY
$7,500
MINIMUM AVERAGE MAXIMUM

For most people, 11% to 32% of their monthly income is what they can allocate to their savings, with 18% being the average. The amount of money that people can save is approximately 5,400 CNY on average with savings ranging from 420 CNY to 54,000 CNY.

70% of surveyed singles reported some of their income going to savings while 65% of couples said the same. 59% of families confirmed their ability to save money.


How much money do people actually save in Jinan?

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

14% 22% of income 34%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

420 CNY
$58
3,700 CNY
$520
25,000 CNY
$3,500
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

Saving To Income Ratio% Singles
0% - 10%31%
10% - 20%24%
20% - 30%16%
30% - 40%14%
40% - 50%11%
> 50%4%

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 14% to 34% of their monthly income to savings, with 22% being the average for most singles. The average amount of money that singles are able to save is 3,700 CNY with 420 CNY and 25,000 CNY being the minimum and maximum respectively.


Couples

Saving to Income Ratio

12% 20% of income 33%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

2,100 CNY
$290
6,200 CNY
$870
33,000 CNY
$4,600
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%35%
10% - 20%26%
20% - 30%19%
30% - 40%9%
40% - 50%8%
> 50%3%

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 12% to 33% of their monthly income, with 20% being the average for most couples. The average amount of money that couples can save is 6,200 CNY with 2,100 CNY and 33,000 CNY being the minimum and maximum respectively.


Families

Saving to Income Ratio

9.6% 17% of income 30%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

2,900 CNY
$410
8,300 CNY
$1,200
54,000 CNY
$7,500
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%38%
10% - 20%29%
20% - 30%20%
30% - 40%6%
40% - 50%5%
> 50%2%

Interpretation and Analysis

Families in Jinan can save anywhere between 9.6% to 30% of their monthly income, with 17% being the average for most families. The average amount of money that families can put aside is 8,300 CNY with 2,900 CNY and 54,000 CNY being the minimum and maximum respectively.

Reasons that make it difficult for people to save money in Jinan

Saving Challenges in Jinan

Reasons that make it difficult for people to save money

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


Reason% People
Low Income5%
High Expenses8%
Debt and Loans15%
Lack of Budgeting Skills11%
Impulsive Spending11%
Financial Emergencies7%
Living the moment6%
Will do it later19%
Inflation12%
Social Pressure3%
Market Instability2%

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. 15% 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. 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. 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 social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Where do people choose to put their savings in Jinan

Typical saving choices for people in Jinan

Where do people choose to put their savings?


Saving Type% People
Emergency Funds12%
Gold12%
Savings Accounts17%
Retirement Accounts10%
Cash Savings19%
Real Estate9%
Investment5%
Stocks5%
Bonds5%
Mutual Funds2%
Certificates of Deposit3%
A typical and healthy budgeting structure. The 50-30-20 rule

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.

Income and cost of living compatibility. Is it affordable or economical to live in Jinan

Affordable living in Jinan

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Jinan?


Yes
68%
No
32%

Around 68% of surveyed residents think that living in Jinan is affordable with proper budgeting while 32% reported that it is just too expensive and not affordable even with frugality and thriftness.

How easily is cost-cutting. Are there plenty of low-cost options in Jinan

Low-cost alternatives in Jinan

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 options62%

Few low-cost options38%


Based on the survey, 62% of the people living in Jinan have no problem finding low-cost alternatives to support a frugal lifestyle while 38% 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 Jinan whether they have an emergency fund and the answers were as follows.

Yes66%

No34%


Based on the survey, 34% of the people living in Jinan said that they don't have an emergency fund while 66% said that they do.

Financial literacy and difficulty in budgeting and financial planning in Jinan

Financial Literacy in China

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 Leteracy59%


We asked residents of China whether they acquired any adequate personal financial training in their lives. Approximately 41% 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 59% 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 China have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 37% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 63% said that they have everything under control.

Struggles with finance37%

Easily manages finances63%

Financial goals and targets of people living in Jinan

Financial goals of people in Jinan

In an attempt to understand the economic situation in Jinan, 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 Fund8%
Debt Reduction38%
Retirement Savings9%
Education Funding7%
Homeownership18%
Investing7%
Travel or Lifestyle8%
Healthcare Expenses12%
Financial Independence6%

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 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 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 8% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 12% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Retirement, pension plans, and life after work in Jinan

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

Retirement age

The retirement age for most employees in China 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:
AgeAmount
255x monthly salary at age 25
3010x monthly salary at age 30
3515x monthly salary at age 35
4025x monthly salary at age 40
4532x monthly salary at age 45
5048x monthly salary at age 50
5556x monthly salary at age 55
6064x monthly salary at age 60
6578x monthly salary at age 65

The typical average saved amount of money you should have at every age in Jinan:
AgeAmount
2542,000 CNY
3083,000 CNY
35150,000 CNY
40210,000 CNY
45310,000 CNY
50440,000 CNY
55520,000 CNY
60640,000 CNY
65770,000 CNY

Retirement Income Distribution

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

Source% People
Pensions12%
Savings23%
Investments12%
Social Security7%
Annuities7%
Part-time Job13%
Real Estate18%
Dividends and Interest7%

Retirement Monthly Expenses in Jinan

860 CNY
$120
7,800 CNY
$1,100
52,000 CNY
$7,200
MINIMUM AVERAGE MAXIMUM
Chart showing the percentage of people who are in debt in Jinan

Debt, loans, and mortgages in Jinan


Percentage of people who are in debt


In Debt
30%
Debt Free
70%

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


Chart showing debt-to-income ratio in Jinan

Debt-to-income ratio in Jinan

Debt to income ratio

32%

22% to 42%

( 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 Jinan goes to debt settlement.


Debt levels

Monthly 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%12%
10% - 20%15%
0% - 10%26%

According to our data, 3% of the debtors in Jinan 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 12% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Jinan

Debt% People
Real Estate Mortgage10%
Auto Loan18%
Student Loan4%
Credit Card28%
Personal Loan40%

10% of debtors in Jinan confirm that real estate mortgages constitutes the main part of their outstanding debt while 28% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 18% of people and personal loans rose at 40%. Lastly, student loans are the main source of debt for 4% of debtors in Jinan.


About credit score and debt management

Managing 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 Jinan

Besides measuring the loan-to-income ratio, we asked residents of Jinan 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
Never52%
Once a year23%
Twice a year12%
Three times a year9%
Four times a year4%
Housing and accommodation affordability, property price to income ratio, rent to income ratio, and housing affordability index chart in Jinan

Housing costs, accommodation, and housing affordability in Jinan

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Jinan

Monthly Rent Prices

Studio apartment monthly rent cost

1,300 CNY 2,000 CNY 5,300 CNY
MINIMUM AVERAGE MAXIMUM
$180 $280 $740

1-bedroom apartment monthly rent cost

2,000 CNY 3,200 CNY 8,000 CNY
MINIMUM AVERAGE MAXIMUM
$280 $440 $1,100

2-bedroom apartment monthly rent cost

2,700 CNY 4,000 CNY 11,000 CNY
MINIMUM AVERAGE MAXIMUM
$370 $550 $1,500

3-bedroom apartment monthly rent cost

3,200 CNY 5,300 CNY 15,000 CNY
MINIMUM AVERAGE MAXIMUM
$440 $740 $2,000

Furnished apartment monthly rent cost

6,400 CNY 16,000 CNY 32,000 CNY
MINIMUM AVERAGE MAXIMUM
$890 $2,200 $4,400

Townhouse monthly rent cost

5,300 CNY 8,000 CNY 23,000 CNY
MINIMUM AVERAGE MAXIMUM
$740 $1,100 $3,200

House monthly rent cost

6,400 CNY 16,000 CNY 32,000 CNY
MINIMUM AVERAGE MAXIMUM
$890 $2,200 $4,400

Villa monthly rent cost

8,000 CNY 20,000 CNY 32,000 CNY
MINIMUM AVERAGE MAXIMUM
$1,100 $2,800 $4,400

The monthly rental cost of a studio apartment in Jinan ranges between 1,300 CNY and 5,300 CNY, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 2,000 CNY to 8,000 CNY. Two-bedroom rentals rate ranges between 2,700 CNY and 11,000 CNY per month. The monthly rental for a three-bedroom apartment ranges from 3,200 CNY to 15,000 CNY. The average rent of a townhouse in Jinan is around 8,000 CNY while house rental costs can be as high as 16,000 CNY per month. Finally, if you want to rent a villa, expect to pay anywhere from 8,000 CNY to 32,000 CNY per month.



Apartment and house prices in Jinan

Cost of buying a property

Studio apartment price

270,000 CNY 400,000 CNY 800,000 CNY
MINIMUM AVERAGE MAXIMUM
$37,000 $55,000 $110,000

1-bedroom apartment price

320,000 CNY 530,000 CNY 2M CNY
MINIMUM AVERAGE MAXIMUM
$44,000 $74,000 $280,000

2-bedroom apartment price

530,000 CNY 1.6M CNY 3.2M CNY
MINIMUM AVERAGE MAXIMUM
$74,000 $220,000 $440,000

3-bedroom apartment price

1.8M CNY 2.7M CNY 8M CNY
MINIMUM AVERAGE MAXIMUM
$250,000 $370,000 $1.1M

Townhouse price

2.3M CNY 5.3M CNY 20M CNY
MINIMUM AVERAGE MAXIMUM
$320,000 $740,000 $2.8M

House price

2.7M CNY 16M CNY 23M CNY
MINIMUM AVERAGE MAXIMUM
$370,000 $2.2M $3.2M

Villa price

3.2M CNY 18M CNY 27M CNY
MINIMUM AVERAGE MAXIMUM
$440,000 $2.5M $3.7M

The average price of a studio apartment in Jinan can range from 270,000 CNY to 800,000 CNY depending on location. One bedroom cost can be anywhere from 320,000 CNY to 2M CNY. A villa can cost you 18M CNY on average with prices ranging from 3.2M CNY to 27M CNY.


If you're leasing or purchasing, housing costs in Jinan 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


38 x112 monthly income 216
MINIMUM AVERAGE MAXIMUM

Property prices in Jinan can be x112 to x216 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x112 multiples of the average monthly salary in Jinan.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


21% 32% of income 43%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Jinan is around 32%. This means that people pay 32% of their income for rent. Those figures can range from 21% to 43% 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
29%

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.


FROM
2%
AVERAGE
3%
TO
4%

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.


24 CNY 310 CNY 3,100 CNY
MINIMUM AVERAGE MAXIMUM

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 Jinan

Utilities expenditure can vary slightly between different areas and locations.


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

Utility Bill Cost / Electricity + Water + Gas / Individual

90 CNY 640 CNY 4,300 CNY
MINIMUM AVERAGE MAXIMUM
$13 $89 $590

Utility Bill Cost / Electricity + Water + Gas / Couple

240 CNY 800 CNY 5,200 CNY
MINIMUM AVERAGE MAXIMUM
$33 $110 $720

Utility Bill Cost / Electricity + Water + Gas / Family

410 CNY 1,200 CNY 7,700 CNY
MINIMUM AVERAGE MAXIMUM
$57 $160 $1,100

Internet and cable cost

75 CNY 150 CNY 200 CNY
MINIMUM AVERAGE MAXIMUM
$10 $21 $28

Mobile phone bill and charges

60 CNY 100 CNY 300 CNY
MINIMUM AVERAGE MAXIMUM
$8.4 $14 $42

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 Jinan ranges between 90 CNY and 4,300 CNY with average being 640 CNY, meanwhile the expenditure of couples is slightly higher at 800 CNY with 240 CNY and 5,200 CNY 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 1,200 CNY. The cost of internet and WiFi is unchanged among the three groups and ranges from 75 CNY to 200 CNY with 150 CNY being the average internet bill. Finally, the average monthly mobile charges is around 100 CNY but can range between 60 CNY and 300 CNY 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


3.2% 6.4% of income 11%
MINIMUM AVERAGE MAXIMUM

The average utility-to-income ratio in Jinan is around 6.4%. This means that people pay 6.4% of their income for energy, water, internet, and mobile charges. Those figures can range from 3.2% to 11% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Jinan

Grocery / Food expenditure and prices can vary drastically between different areas and locations.


Prices and cost of goods and services in Jinan

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

Fast food combo meal price

15 CNY 30 CNY 50 CNY
MINIMUM AVERAGE MAXIMUM
$2.1 $4.2 $7

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Jinan is approximatly 30 CNY with meal cost ranging from 15 CNY to 50 CNY. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

52 CNY 78 CNY 160 CNY
MINIMUM AVERAGE MAXIMUM
$7.2 $11 $22

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 52 CNY and 160 CNY with 78 CNY being the average price of a plate for one person at a regular restaurant in Jinan.

Fine dining meal for one price

100 CNY 160 CNY 620 CNY
MINIMUM AVERAGE MAXIMUM
$14 $22 $86

The price range of a meal at fine-dining restaurant is 100 CNY to 620 CNY with the average cost being 160 CNY for one person. This is what you would expect to pay a top-tier diner in Jinan.

Beverage prices, cappuccino, latte etc..

13 CNY 20 CNY 30 CNY
MINIMUM AVERAGE MAXIMUM
$1.7 $2.8 $4.2

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Jinan is around 20 CNY. Price ranges between 13 CNY and 30 CNY depending on the type of beverage, the size, and optional add-ons.



Grocery and market costs

Large bottle of milk price

10 CNY 12 CNY 15 CNY
MINIMUM AVERAGE MAXIMUM
$1.4 $1.7 $2.1

The average price of a large bottle of milk in Jinan is 12 CNY. The maximum what you would pay for milk is 15 CNY and the minimum being 10 CNY depending on the brand of milk and other properties.

12 eggs price

7.5 CNY 10 CNY 15 CNY
MINIMUM AVERAGE MAXIMUM
$1 $1.4 $2.1

A dozen eggs costs around 10 CNY on average with 7.5 CNY and 15 CNY being the lower and upper limits respectively.

Fresh whole chicken price

17 CNY 22 CNY 31 CNY
MINIMUM AVERAGE MAXIMUM
$2.4 $3.1 $4.4

The price range of a fresh whole chicken in Jinan is between 17 CNY and 31 CNY depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 22 CNY.

Pack of beef price

20 CNY 30 CNY 60 CNY
MINIMUM AVERAGE MAXIMUM
$2.8 $4.2 $8.4

The price of a regular pack of beef or meat is around 30 CNY. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

8.1 CNY 11 CNY 16 CNY
MINIMUM AVERAGE MAXIMUM
$1.1 $1.5 $2.2

A bag of rice in Jinan costs around 11 CNY on average with prices rangeing between 8.1 CNY and 16 CNY depending on the brand and quality.

Bag of tomatos price

3 CNY 4 CNY 7.5 CNY
MINIMUM AVERAGE MAXIMUM
$0.42 $0.56 $1

A bag of tomatoes costs anywhere from 3 CNY to 7.5 CNY. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

5.4 CNY 7 CNY 12 CNY
MINIMUM AVERAGE MAXIMUM
$0.75 $0.98 $1.6

A bag of apples costs 7 CNY 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


19% 28% of income 34%
MINIMUM AVERAGE MAXIMUM

The average grocery-to-income ratio in Jinan is around 28%. This means that people spend 28% of their income on grocery and basic household items. The expenditure can range from 19% to 34% depending on salary and location.


Expenditure on food and grocery for every population group

A single person living alone spends approximately 1,700 CNY per month on grocery and food with expenditure fluctuating between 240 CNY and 11,000 CNY depending on location and the type of person. The average cost of food and groceries for a couple is around 2,500 CNY per month. That number can be get as low as 830 CNY or a high as 13,000 CNY. Families' spending on grocery ranges from 1,500 CNY to 28,000 CNY with the location, income, and size of the family being the most determinite factors.


Single
Spending habits, consumption analysis, and expenditure patterns for a single person living in Jinan

Housing cost for a single person31%

31% of total expenses on average (19% to 43%)

LOW$75   540 CNY
AVERAGE$530   3,800 CNY
HIGH$3,500   26,000 CNY
Per Month

Utilities, Electricity, Water, Internet, Mobile8%

8% of total expenses on average (4% to 13%)

LOW$13   90 CNY
AVERAGE$89   640 CNY
HIGH$590   4,300 CNY
Per Month

Transport and Fuel Cost5%

5% of total expenses on average (3% to 11%)

LOW$17   120 CNY
AVERAGE$120   850 CNY
HIGH$790   5,700 CNY
Per Month

Food and Groceries Cost19%

19% of total expenses on average (13% to 24%)

LOW$33   240 CNY
AVERAGE$240   1,700 CNY
HIGH$1,600   11,000 CNY
Per Month

Healthcare Cost12%

12% of total expenses on average (6% to 16%)

LOW$19   140 CNY
AVERAGE$130   960 CNY
HIGH$890   6,400 CNY
Per Month

Leisure and Shopping Expenditure3%

3% of total expenses on average (2% to 6%)

LOW$10   75 CNY
AVERAGE$74   530 CNY
HIGH$490   3,500 CNY
Per Month

Education Cost1%

1% of total expenses on average (0.00% to 3%)

LOW$4.2   30 CNY
AVERAGE$30   210 CNY
HIGH$200   1,400 CNY
Per Month

Other Expenses21%

21% of total expenses on average (13% to 25%)

LOW$38   270 CNY
AVERAGE$270   1,900 CNY
HIGH$1,800   13,000 CNY
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Jinan

Housing cost for a couple28%

28% of total expenses on average (21% to 38%)

LOW$280   2,000 CNY
AVERAGE$840   6,000 CNY
HIGH$4,500   32,000 CNY
Per Month

Utilities, Electricity, Water, Internet, Mobile7%

7% of total expenses on average (5% to 11%)

LOW$33   240 CNY
AVERAGE$110   800 CNY
HIGH$720   5,200 CNY
Per Month

Transport and Fuel Cost9%

9% of total expenses on average (3% to 14%)

LOW$98   710 CNY
AVERAGE$300   2,100 CNY
HIGH$1,600   11,000 CNY
Per Month

Food and Groceries Cost17%

17% of total expenses on average (12% to 22%)

LOW$110   830 CNY
AVERAGE$340   2,500 CNY
HIGH$1,800   13,000 CNY
Per Month

Healthcare Cost14%

14% of total expenses on average (8% to 18%)

LOW$90   650 CNY
AVERAGE$270   1,900 CNY
HIGH$1,400   10,000 CNY
Per Month

Leisure and Shopping Cost4%

4% of total expenses on average (1% to 7%)

LOW$49   350 CNY
AVERAGE$150   1,100 CNY
HIGH$790   5,700 CNY
Per Month

Education Cost1%

1% of total expenses on average (0.00% to 3%)

LOW$16   120 CNY
AVERAGE$49   350 CNY
HIGH$260   1,900 CNY
Per Month

Other Expenses20%

20% of total expenses on average (14% to 26%)

LOW$140   1,000 CNY
AVERAGE$420   3,000 CNY
HIGH$2,200   16,000 CNY
Per Month


Family
Average monthly expenses and break out of spending for families living in Jinan

Housing cost for a family27%

27% of total expenses on average (22% to 37%)

LOW$370   2,600 CNY
AVERAGE$1,000   7,600 CNY
HIGH$6,800   49,000 CNY
Per Month

Utilities, Electricity, Water, Internet, Mobile5%

5% of total expenses on average (3% to 8%)

LOW$57   410 CNY
AVERAGE$160   1,200 CNY
HIGH$1,100   7,700 CNY
Per Month

Transport and Fuel Expenses5%

5% of total expenses on average (3% to 7%)

LOW$110   830 CNY
AVERAGE$330   2,400 CNY
HIGH$2,100   15,000 CNY
Per Month

Food and Groceries Cost21%

21% of total expenses on average (14% to 27%)

LOW$210   1,500 CNY
AVERAGE$590   4,300 CNY
HIGH$3,800   28,000 CNY
Per Month

Healthcare Expenses11%

11% of total expenses on average (7% to 16%)

LOW$100   740 CNY
AVERAGE$330   2,400 CNY
HIGH$1,700   12,000 CNY
Per Month

Leisure and Shopping Cost3%

3% of total expenses on average (1% to 7%)

LOW$57   410 CNY
AVERAGE$160   1,200 CNY
HIGH$1,100   7,700 CNY
Per Month

Education Cost13%

13% of total expenses on average (6% to 21%)

LOW$160   1,200 CNY
AVERAGE$460   3,300 CNY
HIGH$3,000   21,000 CNY
Per Month

Other Expenses15%

15% of total expenses on average (8% to 20%)

LOW$92   660 CNY
AVERAGE$260   1,900 CNY
HIGH$1,700   12,000 CNY
Per Month


Student
Cost of living and expenses break down for students living in Jinan

Housing costs for Student19%

19% of total expenses on average (14% to 25%)

LOW$39   280 CNY
AVERAGE$260   1,900 CNY
HIGH$1,700   12,000 CNY
Per Month

Utilities, Electricity, Water, Internet, and Mobile Expenses6%

6% of total expenses on average (4% to 10%)

LOW$6.6   47 CNY
AVERAGE$43   310 CNY
HIGH$290   2,100 CNY
Per Month

Transport and Fuel Cost4%

4% of total expenses on average (4% to 10%)

LOW$11   83 CNY
AVERAGE$75   540 CNY
HIGH$500   3,600 CNY
Per Month

Food and Groceries Expenditure23%

23% of total expenses on average (17% to 27%)

LOW$33   240 CNY
AVERAGE$220   1,600 CNY
HIGH$1,400   10,000 CNY
Per Month

Healthcare Cost9%

9% of total expenses on average (6% to 12%)

LOW$9.8   71 CNY
AVERAGE$65   470 CNY
HIGH$430   3,100 CNY
Per Month

Leisure and Shopping Cost3%

3% of total expenses on average (2% to 7%)

LOW$8.2   59 CNY
AVERAGE$54   390 CNY
HIGH$360   2,600 CNY
Per Month

Education Cost18%

18% of total expenses on average (11% to 23%)

LOW$31   220 CNY
AVERAGE$200   1,500 CNY
HIGH$1,400   9,800 CNY
Per Month

Other Expenses18%

18% of total expenses on average (12% to 24%)

LOW$25   180 CNY
AVERAGE$160   1,200 CNY
HIGH$1,100   7,800 CNY
Per Month
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