Cost Of Living in Kingston 2024

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

Whether you're living in Kingston 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.

Singles

The average monthly expense for a single person living in Kingston is 70,000 JMD. Expenses can range from 9,800 JMD at the minimum level to 470,000 JMD at the highest end.

Couples

The average monthly spending of couples in Kingston is 120,000 JMD. Expenditure can range from 39,000 JMD to 620,000 JMD per month.

Families

The average cost of living for families in Kingston is 160,000 JMD per month. Families spend anywhere from 55,000 JMD to 1M JMD.

Students

The average monthly expenditure for students in Kingston is 52,000 JMD. Students spend from 7,800 JMD to 340,000 JMD per month.

Expenditure to Income Ratio in Kingston

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.

Expense to income distribution levels

Interpretation and Analysis

The average spending-to-salary ratio in Kingston is 92% This means that on average, people spend around 92% of their income for living. According to the distribution table, 14% of the population spend approximately 60% to 70% of their income every month.

Individual
83%
Spending-Income-Ratio

---

76%

90%

Couple
87%
Spending-Income-Ratio

---

80%

95%

Family
96%
Spending-Income-Ratio

---

89%

110%

How do people spend their money in Kingston?

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

People living in Kingston typically spend from 11% to 30% of their total monthly expenditure on housing with 22% being the average. The average spend on housing is 30,000 JMD with expenditure ranging from 2,300 JMD to 300,000 JMD. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.

Utility expenditure like electricity, water, and gas in Kingston ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 5,100 JMD with 390 JMD and 51,000 JMD being the upper and lower limits.

Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 780 JMD to 100,000 JMD on commuting with 10,000 JMD 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%.

The average outlay on groceries in a month in Kingston is 25,000 JMD. The cost of groceries can range between 1,900 JMD to 250,000 JMD. People spend on average about 29% on food and groceries with upper and lower bounds of 21% and 35% respectively.

People in Kingston 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 550 JMD to 71,000 JMD with 7,100 JMD being the norm.

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 310 JMD to 40,000 JMD with 4,000 JMD being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.

Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 6,100 JMD per month with 470 JMD being the minimum spent amount and 61,000 JMD being the maximum.

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

Almost 59% of the surveyed people in Kingston 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 Kingston

Saving to Income Ratio

Average Monthly Saved Amount

For most people, 8.4% to 30% of their monthly income is what they can allocate to their savings, with 16% being the average. The amount of money that people can save is approximately 31,000 JMD on average with savings ranging from 2,400 JMD to 310,000 JMD.

63% of surveyed singles reported some of their income going to savings while 58% of couples said the same. 52% of families confirmed their ability to save money.

How much money do people actually save in Kingston?

Singles

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for singles

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 12% to 32% of their monthly income to savings, with 20% being the average for most singles. The average amount of money that singles are able to save is 22,000 JMD with 2,400 JMD and 140,000 JMD being the minimum and maximum respectively.

Couples

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 9.5% to 31% of their monthly income, with 18% being the average for most couples. The average amount of money that couples can save is 36,000 JMD with 12,000 JMD and 190,000 JMD being the minimum and maximum respectively.

Families

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for families

Interpretation and Analysis

Families in Kingston can save anywhere between 8.4% to 27% of their monthly income, with 15% being the average for most families. The average amount of money that families can put aside is 48,000 JMD with 17,000 JMD and 310,000 JMD being the minimum and maximum respectively.

Saving Challenges in Kingston

Reasons that make it difficult for people to save money

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

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. 12% 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 Kingston

Where do people choose to put their savings?

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

Affordable living in Kingston

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Kingston?

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

Low-cost alternatives in Kingston

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 options58%

Few low-cost options42%

Based on the survey, 58% of the people living in Kingston have no problem finding low-cost alternatives to support a frugal lifestyle while 42% 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 Kingston whether they have an emergency fund and the answers were as follows.

Yes53%

No47%

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

Financial Literacy in Jamaica

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 Leteracy47%

We asked residents of Jamaica whether they acquired any adequate personal financial training in their lives. Approximately 53% 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 47% 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 Jamaica have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 49% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 51% said that they have everything under control.

Struggles with finance49%

Easily manages finances51%

Financial goals of people in Kingston

In an attempt to understand the economic situation in Kingston, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.

Around 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 15% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Retirement, pension plans, and life after work in Kingston

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

Retirement age

The retirement age for most employees in Jamaica is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.

Retirement planning and savings

There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.

Retirement Income Distribution

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

Retirement Monthly Expenses in Kingston

Debt, loans, and mortgages in Kingston

Percentage of people who are in debt

According to the survey, 32% of the people in Kingston have some kind of debt, loan, mortgage, or credit card payments while 68% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Kingston

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 34% of the people's monthly income in Kingston goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 4% of the debtors in Kingston pay 60%+ of their income as debt settlement while 20% 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 9% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Kingston

7% of debtors in Kingston confirm that real estate mortgages constitutes the main part of their outstanding debt while 31% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 13% of people and personal loans rose at 45%. Lastly, student loans are the main source of debt for 4% of debtors in Kingston.

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 Kingston

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

Housing costs, accommodation, and housing affordability in Kingston

Rent Cost in Kingston

Monthly Rent Prices

Studio apartment monthly rent cost

8,500 JMD

13,000 JMD

34,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$55

$82

$220

1-bedroom apartment monthly rent cost

13,000 JMD

20,000 JMD

51,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$82

$130

$330

2-bedroom apartment monthly rent cost

17,000 JMD

26,000 JMD

68,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$110

$160

$440

3-bedroom apartment monthly rent cost

20,000 JMD

34,000 JMD

93,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$130

$220

$600

Furnished apartment monthly rent cost

41,000 JMD

100,000 JMD

200,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$260

$660

$1,300

Townhouse monthly rent cost

34,000 JMD

51,000 JMD

150,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$220

$330

$940

House monthly rent cost

41,000 JMD

100,000 JMD

200,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$260

$660

$1,300

Villa monthly rent cost

51,000 JMD

130,000 JMD

200,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$330

$820

$1,300

The monthly rental cost of a studio apartment in Kingston ranges between 8,500 JMD and 34,000 JMD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 13,000 JMD to 51,000 JMD. Two-bedroom rentals rate ranges between 17,000 JMD and 68,000 JMD per month. The monthly rental for a three-bedroom apartment ranges from 20,000 JMD to 93,000 JMD. The average rent of a townhouse in Kingston is around 51,000 JMD while house rental costs can be as high as 100,000 JMD per month. Finally, if you want to rent a villa, expect to pay anywhere from 51,000 JMD to 200,000 JMD per month.

Apartment and house prices in Kingston

Cost of buying a property

Studio apartment price

1.7M JMD

2.6M JMD

5.1M JMD

MINIMUM

AVERAGE

MAXIMUM

$11,000

$16,000

$33,000

1-bedroom apartment price

2M JMD

3.4M JMD

13M JMD

MINIMUM

AVERAGE

MAXIMUM

$13,000

$22,000

$82,000

2-bedroom apartment price

3.4M JMD

10M JMD

20M JMD

MINIMUM

AVERAGE

MAXIMUM

$22,000

$66,000

$130,000

3-bedroom apartment price

11M JMD

17M JMD

51M JMD

MINIMUM

AVERAGE

MAXIMUM

$73,000

$110,000

$330,000

Townhouse price

15M JMD

34M JMD

130M JMD

MINIMUM

AVERAGE

MAXIMUM

$94,000

$220,000

$820,000

House price

17M JMD

100M JMD

150M JMD

MINIMUM

AVERAGE

MAXIMUM

$110,000

$660,000

$940,000

Villa price

20M JMD

110M JMD

170M JMD

MINIMUM

AVERAGE

MAXIMUM

$130,000

$730,000

$1.1M

The average price of a studio apartment in Kingston can range from 1.7M JMD to 5.1M JMD depending on location. One bedroom cost can be anywhere from 2M JMD to 13M JMD. A villa can cost you 110M JMD on average with prices ranging from 20M JMD to 170M JMD.

House / apartment prices to income ratio

Property prices in Kingston can be x91 to x203 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x91 multiples of the average monthly salary in Kingston.

Rent to income ratio

The average rent-to-income ratio in Kingston is around 31%. This means that people pay 31% of their income for rent. Those figures can range from 20% to 41% depending on the salary, location, and type of property.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Kingston

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

Utility Bill Cost / Electricity + Water + Gas / Individual

590 JMD

4,200 JMD

28,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$3.8

$27

$180

Utility Bill Cost / Electricity + Water + Gas / Couple

1,600 JMD

5,300 JMD

34,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$10

$34

$220

Utility Bill Cost / Electricity + Water + Gas / Family

2,700 JMD

7,800 JMD

51,000 JMD

MINIMUM

AVERAGE

MAXIMUM

$18

$50

$330

Internet and cable cost

460 JMD

920 JMD

1,200 JMD

MINIMUM

AVERAGE

MAXIMUM

$3

$5.9

$7.9

Mobile phone bill and charges

370 JMD

620 JMD

1,800 JMD

MINIMUM

AVERAGE

MAXIMUM

$2.4

$4

$12

The average monthly expenditure for individuals on electricty, water, and gas in Kingston ranges between 590 JMD and 28,000 JMD with average being 4,200 JMD, meanwhile the expenditure of couples is slightly higher at 5,300 JMD with 1,600 JMD and 34,000 JMD 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 7,800 JMD. The cost of internet and WiFi is unchanged among the three groups and ranges from 460 JMD to 1,200 JMD with 920 JMD being the average internet bill. Finally, the average monthly mobile charges is around 620 JMD but can range between 370 JMD and 1,800 JMD depending on consumption. Mobile charges include both calling minutes as well as data packages.

Energy / Utility expense to income ratio

The average utility-to-income ratio in Kingston is around 7.4%. This means that people pay 7.4% of their income for energy, water, internet, and mobile charges. Those figures can range from 4.2% to 12% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Kingston

Prices and cost of goods and services in Kingston

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

Fast food combo meal price

92 JMD

180 JMD

310 JMD

MINIMUM

AVERAGE

MAXIMUM

$0.59

$1.2

$2

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Kingston is approximatly 180 JMD with meal cost ranging from 92 JMD to 310 JMD. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

320 JMD

490 JMD

970 JMD

MINIMUM

AVERAGE

MAXIMUM

$2.1

$3.1

$6.2

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 320 JMD and 970 JMD with 490 JMD being the average price of a plate for one person at a regular restaurant in Kingston.

Fine dining meal for one price

650 JMD

970 JMD

3,900 JMD

MINIMUM

AVERAGE

MAXIMUM

$4.2

$6.2

$25

The price range of a meal at fine-dining restaurant is 650 JMD to 3,900 JMD with the average cost being 970 JMD for one person. This is what you would expect to pay a top-tier diner in Kingston.

Beverage prices, cappuccino, latte etc..

77 JMD

120 JMD

180 JMD

MINIMUM

AVERAGE

MAXIMUM

$0.49

$0.79

$1.2

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Kingston is around 120 JMD. Price ranges between 77 JMD and 180 JMD depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

62 JMD

74 JMD

92 JMD

MINIMUM

AVERAGE

MAXIMUM

$0.40

$0.47

$0.59

The average price of a large bottle of milk in Kingston is 74 JMD. The maximum what you would pay for milk is 92 JMD and the minimum being 62 JMD depending on the brand of milk and other properties.

12 eggs price

46 JMD

62 JMD

92 JMD

MINIMUM

AVERAGE

MAXIMUM

$0.30

$0.40

$0.59

A dozen eggs costs around 62 JMD on average with 46 JMD and 92 JMD being the lower and upper limits respectively.

Fresh whole chicken price

100 JMD

140 JMD

190 JMD

MINIMUM

AVERAGE

MAXIMUM

$0.67

$0.87

$1.2

The price range of a fresh whole chicken in Kingston is between 100 JMD and 190 JMD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 140 JMD.

Pack of beef price

120 JMD

180 JMD

370 JMD

MINIMUM

AVERAGE

MAXIMUM

$0.79

$1.2

$2.4

The price of a regular pack of beef or meat is around 180 JMD. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

50 JMD

68 JMD

96 JMD

MINIMUM

AVERAGE

MAXIMUM

$0.32

$0.44

$0.62

A bag of rice in Kingston costs around 68 JMD on average with prices rangeing between 50 JMD and 96 JMD depending on the brand and quality.

Bag of tomatos price

18 JMD

25 JMD

46 JMD

MINIMUM

AVERAGE

MAXIMUM

$0.12

$0.16

$0.30

A bag of tomatoes costs anywhere from 18 JMD to 46 JMD. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

33 JMD

43 JMD

71 JMD

MINIMUM

AVERAGE

MAXIMUM

$0.21

$0.28

$0.46

A bag of apples costs 43 JMD on average. A bag of apples denotes 1Kg or 1lb depending on location.

Grocery and food expenditure to income ratio

The average grocery-to-income ratio in Kingston is around 29%. This means that people spend 29% of their income on grocery and basic household items. The expenditure can range from 20% to 35% depending on salary and location.

Expenditure on food and grocery for every population group

A single person living alone spends approximately 11,000 JMD per month on grocery and food with expenditure fluctuating between 1,600 JMD and 75,000 JMD depending on location and the type of person. The average cost of food and groceries for a couple is around 16,000 JMD per month. That number can be get as low as 5,500 JMD or a high as 87,000 JMD. Families' spending on grocery ranges from 9,800 JMD to 180,000 JMD 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 Kingston

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

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

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