Cost Of Living in La Paz 2024
Average monthly spending for singles, couples, students, and families in La Paz
Whether you're living in La Paz 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: BOB
Monthly Expenditure ▶ Single
Currency: BOB
Monthly Expenditure ▶ Couple
Currency: BOB
Monthly Expenditure ▶ Family
Currency: BOB
Monthly Expenditure ▶ Student
Currency: BOB
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in La Paz is 6,000 BOB. Expenses can range from 850 BOB at the minimum level to 40,000 BOB at the highest end.
Couples
The average monthly spending of couples in La Paz is 10,000 BOB. Expenditure can range from 3,300 BOB to 54,000 BOB per month.
Families
The average cost of living for families in La Paz is 13,000 BOB per month. Families spend anywhere from 4,700 BOB to 87,000 BOB.
Students
The average monthly expenditure for students in La Paz is 4,400 BOB. Students spend from 670 BOB to 29,000 BOB 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 La Paz
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
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
| 21,000 BOB | 42,000 BOB | 56,000 BOB |
Bus ticket one way
Car Service
Utility cost (monthly)
Utility Bill - Individual
Utility Bill - Couple
| 130 BOB | 450 BOB | 2,900 BOB |
Utility Bill - Family
| 230 BOB | 670 BOB | 4,400 BOB |
Internet and cable
Mobile phone charges
Leisure and activities costs
Movie ticket
One month gym membership
Cloths and accessories costs
Pair of jeans or pants
Woman dress
Woman shoes
Men's shoes
Men suit
Regular t-shirt
Housing costs / monthly rent
Studio apartment
| 750 BOB | 1,100 BOB | 3,000 BOB |
1-bedroom apartment
| 1,100 BOB | 1,800 BOB | 4,500 BOB |
2-bedroom apartment
| 1,500 BOB | 2,300 BOB | 6,000 BOB |
Housing costs / Buying
Studio apartment
| 150,000 BOB | 230,000 BOB | 450,000 BOB |
1-bedroom apartment
| 180,000 BOB | 300,000 BOB | 1.1M BOB |
2-bedroom apartment
| 300,000 BOB | 900,000 BOB | 1.8M BOB |
| $44,000 | $130,000 | $260,000 |
Furniture Costs
King Size Bed
| 840 BOB | 1,100 BOB | 1,400 BOB |
Double Bed
| 560 BOB | 840 BOB | 1,100 BOB |
Single Bed
Living Room
| 940 BOB | 1,200 BOB | 4,200 BOB |
Dining Table
| 420 BOB | 560 BOB | 1,100 BOB |
Sofa or Couch
| 560 BOB | 770 BOB | 1,700 BOB |
Electronics and House Appliance Costs
TV Set
| 560 BOB | 840 BOB | 1,700 BOB |
Fridge or Freezer
| 500 BOB | 770 BOB | 1,100 BOB |
Washing Machine
| 650 BOB | 940 BOB | 1,700 BOB |
Stove or Cooker
| 600 BOB | 770 BOB | 1,100 BOB |
Mobile Phone
| 700 BOB | 840 BOB | 1,200 BOB |
Laptop or Computer
| 770 BOB | 940 BOB | 1,700 BOB |
Expenditure to Income Ratio in La Paz
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
90%
82% to 99%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 5% |
| 50% - 60% | 9% |
| 60% - 70% | 16% |
| 70% - 80% | 25% |
| 80% - 90% | 19% |
| 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 La Paz is 90%
This means that on average, people spend around 90% 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
81%
Spending-Income-Ratio
74%
89%
Couple
85%
Spending-Income-Ratio
78%
94%
Family
94%
Spending-Income-Ratio
86%
100%
How do people spend their money in La Paz?
We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.
The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.
Housing Expenditure24%
24% of total expenses on average (13% to 32%)
| LOW | $29 200 BOB |
| AVERAGE | $380 2,600 BOB |
| HIGH | $3,800 26,000 BOB |
| Per Month |
People living in La Paz typically spend from 13% to 32% of their total monthly expenditure on housing with 24% being the average. The average spend on housing is 2,600 BOB with expenditure ranging from 200 BOB to 26,000 BOB. 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 | $4.9 33 BOB |
| AVERAGE | $63 440 BOB |
| HIGH | $630 4,400 BOB |
| Per Month |
Utility expenditure like electricity, water, and gas in La Paz ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 440 BOB with 33 BOB and 4,400 BOB being the upper and lower limits.
Transport, Fuel, Commute7%
7% of total expenses on average (3% to 11%)
| LOW | $9.7 67 BOB |
| AVERAGE | $130 870 BOB |
| HIGH | $1,300 8,700 BOB |
| 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 67 BOB to 8,700 BOB on commuting with 870 BOB 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 | $24 170 BOB |
| AVERAGE | $320 2,200 BOB |
| HIGH | $3,200 22,000 BOB |
| Per Month |
The average outlay on groceries in a month in La Paz is 2,200 BOB. The cost of groceries can range between 170 BOB to 22,000 BOB. 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 | $6.8 47 BOB |
| AVERAGE | $88 610 BOB |
| HIGH | $880 6,100 BOB |
| Per Month |
People in La Paz 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 47 BOB to 6,100 BOB with 610 BOB being the norm.
Leisure and Shopping5%
5% of total expenses on average (2% to 9%)
| LOW | $3.9 27 BOB |
| AVERAGE | $50 350 BOB |
| HIGH | $500 3,500 BOB |
| 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 27 BOB to 3,500 BOB with 350 BOB 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 | $5.8 40 BOB |
| AVERAGE | $76 520 BOB |
| HIGH | $760 5,200 BOB |
| 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 520 BOB per month with 40 BOB being the minimum spent amount and 5,200 BOB being the maximum.
Other Expenses13%
13% of total expenses on average (8% to 20%)
| LOW | $13 87 BOB |
| AVERAGE | $160 1,100 BOB |
| HIGH | $1,600 11,000 BOB |
| Per Month |
How much money can you save in La Paz 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 La Paz manage to save money from their income every month?
Almost 60% of the surveyed people in La Paz said that they can save some money at the end of each month while 40% said that aren't saving anything.
Percentage of people saving money by population group in La Paz
| Group | Savers | Non Savers |
|---|
| Singles | 68% | 32% |
| Couples | 63% | 37% |
| Families | 58% | 42% |
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
230 BOB
$34 | 3,000 BOB
$440 | 30,000 BOB
$4,400 |
For most people, 9.5% to 31% 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 3,000 BOB on average with savings ranging from 230 BOB to 30,000 BOB.
68% of surveyed singles reported some of their income going to savings while 63% of couples said the same. 58% of families confirmed their ability to save money.
How much money do people actually save in La Paz?
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
230 BOB
$34 | 2,100 BOB
$300 | 14,000 BOB
$2,000 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 31% |
| 10% - 20% | 25% |
| 20% - 30% | 16% |
| 30% - 40% | 14% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 13% to 33% 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 2,100 BOB with 230 BOB and 14,000 BOB being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
1,200 BOB
$170 | 3,500 BOB
$510 | 19,000 BOB
$2,700 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 35% |
| 10% - 20% | 27% |
| 20% - 30% | 19% |
| 30% - 40% | 9% |
| 40% - 50% | 7% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 11% to 32% of their monthly income, with 20% being the average for most couples. The average amount of money that couples can save is 3,500 BOB with 1,200 BOB and 19,000 BOB being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
1,600 BOB
$240 | 4,700 BOB
$670 | 30,000 BOB
$4,400 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 38% |
| 10% - 20% | 30% |
| 20% - 30% | 20% |
| 30% - 40% | 6% |
| 40% - 50% | 4% |
| > 50% | 2% |
Interpretation and Analysis
Families in La Paz can save anywhere between 9.5% 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 4,700 BOB with 1,600 BOB and 30,000 BOB being the minimum and maximum respectively.
Saving Challenges in La Paz
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in La Paz. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 5% |
| High Expenses | 8% |
| Debt and Loans | 14% |
| Lack of Budgeting Skills | 11% |
| Impulsive Spending | 11% |
| Financial Emergencies | 7% |
| Living the moment | 6% |
| Will do it later | 20% |
| Inflation | 13% |
| Social Pressure | 3% |
| Market Instability | 2% |
Around 5% of the people said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 14% 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. 20% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 13% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.
Typical saving choices for people in La Paz
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 12% |
| Gold | 12% |
| Savings Accounts | 17% |
| Retirement Accounts | 10% |
| Cash Savings | 20% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 5% |
| Bonds | 5% |
| Mutual Funds | 2% |
| Certificates of Deposit | 3% |
A typical and healthy budgeting structure
The 50/30/20 rule
Spending among different people can vary significantly based on factors such as their income, lifestyle,
location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule,
which suggests allocating your income into three main categories in the following percentages.
50% for needs and financial obligations
This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.
30% for wants and discretionary spending
This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.
20% for savings and emergency fund
This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.
About financial planning, money management, and household budgeting
The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.
Affordable living in La Paz
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in La Paz?
Around 63% of surveyed residents think that living in La Paz is affordable with proper budgeting while 37% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in La Paz
People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked residents how easily cost-cutting is and the answers were distributed as follows:
Plenty of low-cost options59%
Few low-cost options41%
Based on the survey, 59% of the people living in La Paz have no problem finding low-cost alternatives to support a frugal lifestyle while 41% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
Emergency Funds
An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked residents of La Paz whether they have an emergency fund and the answers were as follows.
Yes59%
No41%
Based on the survey, 41% of the people living in La Paz said that they don't have an emergency fund while 59% said that they do.
Financial Literacy in Bolivia
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 Leteracy55%
We asked residents of Bolivia whether they acquired any adequate personal financial training in their lives. Approximately 45% 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 55% 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 Bolivia 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 La Paz
In an attempt to understand the economic situation in La Paz, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.
| Financial Goal | % People |
|---|
| Emergency Fund | 8% |
| Debt Reduction | 40% |
| Retirement Savings | 10% |
| Education Funding | 7% |
| Homeownership | 18% |
| Investing | 7% |
| Travel or Lifestyle | 8% |
| Healthcare Expenses | 13% |
| Financial Independence | 6% |
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 40% said their number one priority is to pay off high-interest debt or loans and improve credit. 10% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 7% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 8% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 13% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Retirement, pension plans, and life after work in La Paz
What does the retirement lifestyle look like in La Paz and how much retirement savings are required?
Retirement age
The retirement age for most employees in Bolivia 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 La Paz:| Age | Amount |
|---|
| 25 | 23,000 BOB |
| 30 | 47,000 BOB |
| 35 | 82,000 BOB |
| 40 | 120,000 BOB |
| 45 | 180,000 BOB |
| 50 | 250,000 BOB |
| 55 | 290,000 BOB |
| 60 | 360,000 BOB |
| 65 | 430,000 BOB |
Retirement Income Distribution
We asked residents of La Paz about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 12% |
| Savings | 23% |
| Investments | 12% |
| Social Security | 7% |
| Annuities | 7% |
| Part-time Job | 14% |
| Real Estate | 18% |
| Dividends and Interest | 7% |
Retirement Monthly Expenses in La Paz 490 BOB
$71 | 4,400 BOB
$640 | 29,000 BOB
$4,300 |
Debt, loans, and mortgages in La Paz
Percentage of people who are in debt
According to the survey, 34% of the people in La Paz have some kind of debt, loan, mortgage, or credit card payments while 66% reported that they don't have financial obligations to banks.
Debt-to-income ratio in La Paz
Debt to income ratio
32%
23% to 41%
( monthly debt payment / monthly income ) x 100
Interpretation
The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 32% of the people's monthly income in La Paz goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 16% |
| 40% - 50% | 14% |
| 30% - 40% | 16% |
| 20% - 30% | 11% |
| 10% - 20% | 14% |
| 0% - 10% | 26% |
According to our data, 3% of the debtors in La Paz pay 60%+ of their income as debt settlement while 16% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 14% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 16% dedicated 30% to 40% of income for same. Things are looking brighter for 11% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in La Paz
| Debt | % People |
|---|
| Real Estate Mortgage | 9% |
| Auto Loan | 17% |
| Student Loan | 4% |
| Credit Card | 29% |
| Personal Loan | 41% |
9% of debtors in La Paz confirm that real estate mortgages constitutes the main part of their outstanding debt while 29% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 17% of people and personal loans rose at 41%. Lastly, student loans are the main source of debt for 4% of debtors in La Paz.
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 La Paz
Besides measuring the loan-to-income ratio, we asked residents of La Paz 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 | 51% |
| Once a year | 23% |
| Twice a year | 12% |
| Three times a year | 9% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in La Paz
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in La Paz
Monthly Rent Prices
Studio apartment monthly rent cost
| 750 BOB | 1,100 BOB | 3,000 BOB |
1-bedroom apartment monthly rent cost
| 1,100 BOB | 1,800 BOB | 4,500 BOB |
2-bedroom apartment monthly rent cost
| 1,500 BOB | 2,300 BOB | 6,000 BOB |
3-bedroom apartment monthly rent cost
| 1,800 BOB | 3,000 BOB | 8,200 BOB |
Furnished apartment monthly rent cost
| 3,600 BOB | 9,000 BOB | 18,000 BOB |
Townhouse monthly rent cost
| 3,000 BOB | 4,500 BOB | 13,000 BOB |
House monthly rent cost
| 3,600 BOB | 9,000 BOB | 18,000 BOB |
Villa monthly rent cost
| 4,500 BOB | 11,000 BOB | 18,000 BOB |
The monthly rental cost of a studio apartment in La Paz ranges between 750 BOB and 3,000 BOB, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 1,100 BOB to 4,500 BOB. Two-bedroom rentals rate ranges between 1,500 BOB and 6,000 BOB per month. The monthly rental for a three-bedroom apartment ranges from 1,800 BOB to 8,200 BOB. The average rent of a townhouse in La Paz is around 4,500 BOB while house rental costs can be as high as 9,000 BOB per month. Finally, if you want to rent a villa, expect to pay anywhere from 4,500 BOB to 18,000 BOB per month.
Apartment and house prices in La Paz
Cost of buying a property
Studio apartment price
| 150,000 BOB | 230,000 BOB | 450,000 BOB |
1-bedroom apartment price
| 180,000 BOB | 300,000 BOB | 1.1M BOB |
2-bedroom apartment price
| 300,000 BOB | 900,000 BOB | 1.8M BOB |
| $44,000 | $130,000 | $260,000 |
3-bedroom apartment price
| $150,000 | $220,000 | $650,000 |
Townhouse price
House price
Villa price
The average price of a studio apartment in La Paz can range from 150,000 BOB to 450,000 BOB depending on location. One bedroom cost can be anywhere from 180,000 BOB to 1.1M BOB. A villa can cost you 10M BOB on average with prices ranging from 1.8M BOB to 15M BOB.
If you're leasing or purchasing, housing costs in La Paz 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 | x109 monthly income | 213 |
Property prices in La Paz can be x109 to x213 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x109 multiples of the average monthly salary in La Paz.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in La Paz is around 32%. This means that people pay 32% of their income for rent. Those figures can range from 21% to 42% 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.
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 La Paz
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in La Paz
Utility Bill Cost / Electricity + Water + Gas / Individual
Utility Bill Cost / Electricity + Water + Gas / Couple
| 130 BOB | 450 BOB | 2,900 BOB |
Utility Bill Cost / Electricity + Water + Gas / Family
| 230 BOB | 670 BOB | 4,400 BOB |
Internet and cable cost
Mobile phone bill and charges
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 La Paz ranges between 51 BOB and 2,400 BOB with average being 360 BOB, meanwhile the expenditure of couples is slightly higher at 450 BOB with 130 BOB and 2,900 BOB 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 670 BOB. The cost of internet and WiFi is unchanged among the three groups and ranges from 42 BOB to 110 BOB with 84 BOB being the average internet bill. Finally, the average monthly mobile charges is around 56 BOB but can range between 34 BOB and 170 BOB 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 La Paz is around 6.3%. This means that people pay 6.3% 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 La Paz
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in La Paz
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 La Paz is approximatly 17 BOB with meal cost ranging from 8.4 BOB to 28 BOB. 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 29 BOB and 87 BOB with 44 BOB being the average price of a plate for one person at a regular restaurant in La Paz.
Fine dining meal for one price
The price range of a meal at fine-dining restaurant is 58 BOB to 350 BOB with the average cost being 87 BOB for one person. This is what you would expect to pay a top-tier diner in La Paz.
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 La Paz is around 11 BOB. Price ranges between 7 BOB and 17 BOB 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 La Paz is 6.7 BOB. The maximum what you would pay for milk is 8.4 BOB and the minimum being 5.6 BOB depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 5.6 BOB on average with 4.2 BOB and 8.4 BOB being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in La Paz is between 9.6 BOB and 18 BOB depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 12 BOB.
Pack of beef price
The price of a regular pack of beef or meat is around 17 BOB. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in La Paz costs around 6.2 BOB on average with prices rangeing between 4.5 BOB and 8.8 BOB depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 1.7 BOB to 4.2 BOB. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 3.9 BOB 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 La Paz is around 27%. This means that people spend 27% 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 960 BOB per month on grocery and food with expenditure fluctuating between 140 BOB and 6,400 BOB depending on location and the type of person. The average cost of food and groceries for a couple is around 1,400 BOB per month. That number can be get as low as 470 BOB or a high as 7,500 BOB. Families' spending on grocery ranges from 840 BOB to 16,000 BOB 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 La Paz
Housing cost for a single person30%
30% of total expenses on average (18% to 42%)
| LOW | $44 310 BOB |
| AVERAGE | $310 2,200 BOB |
| HIGH | $2,100 14,000 BOB |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile8%
8% of total expenses on average (4% to 13%)
| LOW | $7.4 51 BOB |
| AVERAGE | $52 360 BOB |
| HIGH | $350 2,400 BOB |
| Per Month |
Transport and Fuel Cost5%
5% of total expenses on average (3% to 11%)
| LOW | $9.9 68 BOB |
| AVERAGE | $70 480 BOB |
| HIGH | $470 3,200 BOB |
| Per Month |
Food and Groceries Cost19%
19% of total expenses on average (13% to 24%)
| LOW | $20 140 BOB |
| AVERAGE | $140 960 BOB |
| HIGH | $930 6,400 BOB |
| Per Month |
Healthcare Cost12%
12% of total expenses on average (6% to 16%)
| LOW | $11 77 BOB |
| AVERAGE | $79 540 BOB |
| HIGH | $520 3,600 BOB |
| Per Month |
Leisure and Shopping Expenditure3%
3% of total expenses on average (2% to 6%)
| LOW | $6.2 43 BOB |
| AVERAGE | $44 300 BOB |
| HIGH | $290 2,000 BOB |
| Per Month |
Education Cost1%
1% of total expenses on average (0.00% to 3%)
| LOW | $2.5 17 BOB |
| AVERAGE | $17 120 BOB |
| HIGH | $120 800 BOB |
| Per Month |
Other Expenses21%
21% of total expenses on average (13% to 25%)
| LOW | $22 150 BOB |
| AVERAGE | $160 1,100 BOB |
| HIGH | $1,000 7,200 BOB |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in La Paz
Housing cost for a couple27%
27% of total expenses on average (20% to 37%)
| LOW | $160 1,100 BOB |
| AVERAGE | $490 3,400 BOB |
| HIGH | $2,600 18,000 BOB |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile7%
7% of total expenses on average (5% to 11%)
| LOW | $19 130 BOB |
| AVERAGE | $65 450 BOB |
| HIGH | $430 2,900 BOB |
| Per Month |
Transport and Fuel Cost9%
9% of total expenses on average (3% to 14%)
| LOW | $58 400 BOB |
| AVERAGE | $170 1,200 BOB |
| HIGH | $930 6,400 BOB |
| Per Month |
Food and Groceries Cost17%
17% of total expenses on average (12% to 22%)
| LOW | $68 470 BOB |
| AVERAGE | $200 1,400 BOB |
| HIGH | $1,100 7,500 BOB |
| Per Month |
Healthcare Cost14%
14% of total expenses on average (8% to 18%)
| LOW | $53 370 BOB |
| AVERAGE | $160 1,100 BOB |
| HIGH | $850 5,900 BOB |
| Per Month |
Leisure and Shopping Cost4%
4% of total expenses on average (1% to 7%)
| LOW | $29 200 BOB |
| AVERAGE | $87 600 BOB |
| HIGH | $470 3,200 BOB |
| Per Month |
Education Cost1%
1% of total expenses on average (0.00% to 3%)
| LOW | $9.7 67 BOB |
| AVERAGE | $29 200 BOB |
| HIGH | $160 1,100 BOB |
| Per Month |
Other Expenses20%
20% of total expenses on average (14% to 26%)
| LOW | $82 570 BOB |
| AVERAGE | $250 1,700 BOB |
| HIGH | $1,300 9,100 BOB |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in La Paz
Housing cost for a family26%
26% of total expenses on average (21% to 36%)
| LOW | $220 1,500 BOB |
| AVERAGE | $620 4,300 BOB |
| HIGH | $4,000 28,000 BOB |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile5%
5% of total expenses on average (3% to 8%)
| LOW | $34 230 BOB |
| AVERAGE | $97 670 BOB |
| HIGH | $630 4,400 BOB |
| Per Month |
Transport and Fuel Expenses5%
5% of total expenses on average (3% to 7%)
| LOW | $68 470 BOB |
| AVERAGE | $190 1,300 BOB |
| HIGH | $1,300 8,700 BOB |
| Per Month |
Food and Groceries Cost21%
21% of total expenses on average (14% to 27%)
| LOW | $120 840 BOB |
| AVERAGE | $350 2,400 BOB |
| HIGH | $2,300 16,000 BOB |
| Per Month |
Healthcare Expenses11%
11% of total expenses on average (7% to 16%)
| LOW | $61 420 BOB |
| AVERAGE | $190 1,300 BOB |
| HIGH | $1,000 7,000 BOB |
| Per Month |
Leisure and Shopping Cost3%
3% of total expenses on average (1% to 7%)
| LOW | $34 230 BOB |
| AVERAGE | $97 670 BOB |
| HIGH | $630 4,400 BOB |
| Per Month |
Education Cost13%
13% of total expenses on average (6% to 21%)
| LOW | $95 660 BOB |
| AVERAGE | $270 1,900 BOB |
| HIGH | $1,800 12,000 BOB |
| Per Month |
Other Expenses15%
15% of total expenses on average (8% to 20%)
| LOW | $54 380 BOB |
| AVERAGE | $160 1,100 BOB |
| HIGH | $1,000 7,000 BOB |
| Per Month |
StudentCost of living and expenses break down for students living in La Paz
Housing costs for Student18%
18% of total expenses on average (13% to 24%)
| LOW | $23 160 BOB |
| AVERAGE | $150 1,100 BOB |
| HIGH | $1,000 7,000 BOB |
| Per Month |
Utilities, Electricity, Water, Internet, and Mobile Expenses6%
6% of total expenses on average (4% to 10%)
| LOW | $3.9 27 BOB |
| AVERAGE | $26 180 BOB |
| HIGH | $170 1,200 BOB |
| Per Month |
Transport and Fuel Cost4%
4% of total expenses on average (4% to 10%)
| LOW | $6.8 47 BOB |
| AVERAGE | $45 310 BOB |
| HIGH | $300 2,100 BOB |
| Per Month |
Food and Groceries Expenditure23%
23% of total expenses on average (17% to 27%)
| LOW | $19 130 BOB |
| AVERAGE | $130 880 BOB |
| HIGH | $850 5,900 BOB |
| Per Month |
Healthcare Cost9%
9% of total expenses on average (6% to 12%)
| LOW | $5.8 40 BOB |
| AVERAGE | $38 260 BOB |
| HIGH | $260 1,800 BOB |
| Per Month |
Leisure and Shopping Cost3%
3% of total expenses on average (2% to 7%)
| LOW | $4.9 33 BOB |
| AVERAGE | $32 220 BOB |
| HIGH | $210 1,500 BOB |
| Per Month |
Education Cost18%
18% of total expenses on average (11% to 23%)
| LOW | $18 130 BOB |
| AVERAGE | $120 840 BOB |
| HIGH | $810 5,600 BOB |
| Per Month |
Other Expenses18%
18% of total expenses on average (12% to 24%)
| LOW | $15 100 BOB |
| AVERAGE | $96 660 BOB |
| HIGH | $640 4,400 BOB |
| Per Month |
