Cost Of Living in Lubango 2024
Average monthly spending for singles, couples, students, and families in Lubango
Whether you're living in Lubango 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 Expenditure390,000 AOA
per month$45030,000 AOA $35
$4,500 3.9M AOA
Single270,000 AOA
per month$31089,000 AOA $100
$2,100 1.8M AOA
Couple450,000 AOA
per month$520150,000 AOA $170
$2,800 2.4M AOA
Family590,000 AOA
per month$700210,000 AOA $240
$3,800 3.3M AOA
Student170,000 AOA
per month$20069,000 AOA $81
$370 310,000 AOA
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Lubango is 270,000 AOA. Expenses can range from 89,000 AOA at the minimum level to 1.8M AOA at the highest end.
Couples
The average monthly spending of couples in Lubango is 450,000 AOA. Expenditure can range from 150,000 AOA to 2.4M AOA per month.
Families
The average cost of living for families in Lubango is 590,000 AOA per month. Families spend anywhere from 210,000 AOA to 3.3M AOA.
Students
The average monthly expenditure for students in Lubango is 170,000 AOA. Students spend from 69,000 AOA to 310,000 AOA 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 Lubango
Dining, food, and beverages costs
Large bottle of water
Fast food combo meal | 410 AOA | 820 AOA | 1,400 AOA |
Restaurant meal for one | 1,300 AOA | 2,000 AOA | 4,000 AOA |
Fine dining meal for one | 2,600 AOA | 4,000 AOA | 16,000 AOA |
Soda or Soft Drink
Cappuccino or latte Grocery and market costs
Milk large bottle
Loaf of bread
12 eggs
Fresh whole chicken
Beef 1 kg or 1 lb | 550 AOA | 820 AOA | 1,600 AOA |
Rice 1 kg or 1 lb
Tomato 1 kg or 1 lb
Apples 1 kg or 1 lb Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank | 2,100 AOA | 2,700 AOA | 5,500 AOA |
Average car 1-day rental | 1,900 AOA | 2,600 AOA | 3,800 AOA |
Average car price
Bus ticket one way
Car Service | 2,600 AOA | 3,800 AOA | 7,700 AOA |
Utility cost (monthly)
Utility Bill - Individual | 5,300 AOA | 16,000 AOA | 110,000 AOA |
Utility Bill - Couple | 7,400 AOA | 22,000 AOA | 120,000 AOA |
Utility Bill - Family | 6,200 AOA | 18,000 AOA | 98,000 AOA |
Internet and cable | 2,100 AOA | 4,100 AOA | 5,500 AOA |
Mobile phone charges | 1,600 AOA | 2,700 AOA | 8,200 AOA |
Leisure and activities costs
Movie ticket | 1,000 AOA | 1,400 AOA | 2,100 AOA |
One month gym membership | 3,100 AOA | 3,800 AOA | 7,700 AOA |
Cloths and accessories costs
Pair of jeans or pants | 2,300 AOA | 3,200 AOA | 4,800 AOA |
Woman dress | 2,100 AOA | 2,900 AOA | 9,600 AOA |
Woman shoes | 2,000 AOA | 2,700 AOA | 6,400 AOA |
Men's shoes | 1,700 AOA | 2,100 AOA | 4,300 AOA |
Men suit | 1,900 AOA | 2,400 AOA | 13,000 AOA |
Regular t-shirt | 960 AOA | 1,300 AOA | 3,800 AOA |
Housing costs / monthly rent
Studio apartment | 32,000 AOA | 48,000 AOA | 130,000 AOA |
1-bedroom apartment | 48,000 AOA | 77,000 AOA | 190,000 AOA |
2-bedroom apartment | 64,000 AOA | 96,000 AOA | 260,000 AOA |
Housing costs / Buying
Studio apartment | 6.4M AOA | 9.6M AOA | 19M AOA |
1-bedroom apartment
2-bedroom apartment Furniture Costs
King Size Bed | 41,000 AOA | 51,000 AOA | 68,000 AOA |
Double Bed | 27,000 AOA | 41,000 AOA | 51,000 AOA |
Single Bed | 24,000 AOA | 32,000 AOA | 41,000 AOA |
Living Room | 46,000 AOA | 59,000 AOA | 210,000 AOA |
Dining Table | 21,000 AOA | 27,000 AOA | 51,000 AOA |
Sofa or Couch | 27,000 AOA | 37,000 AOA | 82,000 AOA |
Electronics and House Appliance Costs
TV Set | 27,000 AOA | 41,000 AOA | 82,000 AOA |
Fridge or Freezer | 24,000 AOA | 37,000 AOA | 51,000 AOA |
Washing Machine | 32,000 AOA | 46,000 AOA | 82,000 AOA |
Stove or Cooker | 29,000 AOA | 37,000 AOA | 51,000 AOA |
Mobile Phone | 34,000 AOA | 41,000 AOA | 59,000 AOA |
Laptop or Computer | 37,000 AOA | 46,000 AOA | 82,000 AOA |
Expenditure to Income Ratio in Lubango
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
86%
81% to 95%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 4% |
| 50% - 60% | 9% |
| 60% - 70% | 15% |
| 70% - 80% | 25% |
| 80% - 90% | 20% |
| 90% - 100% | 11% |
| 100% - 110% | 6% |
| 110% - 120% | 4% |
| 120% - 130% | 3% |
| 130% - 140% | 2% |
| > 140% | 2% |
Interpretation and Analysis
The average spending-to-salary ratio in Lubango is 86%
This means that on average, people spend around 86% of their income for living.
According to the distribution table, 15% of the population spend approximately 60% to 70% of their income every month.
How can spending be more than income?
A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.
Individual
77%
Spending-Income-Ratio
73%
85%
Couple
82%
Spending-Income-Ratio
77%
90%
Family
90%
Spending-Income-Ratio
85%
99%
How do people spend their money in Lubango?
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 Expenditure23%
23% of total expenses on average (12% to 31%)
| LOW | $10 8,900 AOA |
| AVERAGE | $140 120,000 AOA |
| HIGH | $1,400 1.2M AOA |
| Per Month |
People living in Lubango typically spend from 12% to 31% of their total monthly expenditure on housing with 23% being the average. The average spend on housing is 120,000 AOA with expenditure ranging from 8,900 AOA to 1.2M AOA. 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, Water8%
8% of total expenses on average (5% to 12%)
| LOW | $1.7 1,500 AOA |
| AVERAGE | $23 19,000 AOA |
| HIGH | $230 190,000 AOA |
| Per Month |
Utility expenditure like electricity, water, and gas in Lubango ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 19,000 AOA with 1,500 AOA and 190,000 AOA being the upper and lower limits.
Transport, Fuel, Commute7%
7% of total expenses on average (3% to 11%)
| LOW | $3.5 3,000 AOA |
| AVERAGE | $45 39,000 AOA |
| HIGH | $450 390,000 AOA |
| 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 3,000 AOA to 390,000 AOA on commuting with 39,000 AOA 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 | $8.7 7,400 AOA |
| AVERAGE | $110 96,000 AOA |
| HIGH | $1,100 960,000 AOA |
| Per Month |
The average outlay on groceries in a month in Lubango is 96,000 AOA. The cost of groceries can range between 7,400 AOA to 960,000 AOA. 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 | $2.4 2,100 AOA |
| AVERAGE | $32 27,000 AOA |
| HIGH | $320 270,000 AOA |
| Per Month |
People in Lubango 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 2,100 AOA to 270,000 AOA with 27,000 AOA being the norm.
Leisure and Shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $1.4 1,200 AOA |
| AVERAGE | $18 15,000 AOA |
| HIGH | $180 150,000 AOA |
| 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 1,200 AOA to 150,000 AOA with 15,000 AOA being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.
Education and Schooling5%
5% of total expenses on average (3% to 11%)
| LOW | $2.1 1,800 AOA |
| AVERAGE | $27 23,000 AOA |
| HIGH | $270 230,000 AOA |
| 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 23,000 AOA per month with 1,800 AOA being the minimum spent amount and 230,000 AOA being the maximum.
Other Expenses14%
14% of total expenses on average (9% to 21%)
| LOW | $4.5 3,900 AOA |
| AVERAGE | $59 50,000 AOA |
| HIGH | $590 500,000 AOA |
| Per Month |
How much money can you save in Lubango 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 Lubango manage to save money from their income every month?
Almost 51% of the surveyed people in Lubango said that they can save some money at the end of each month while 49% said that aren't saving anything.
Percentage of people saving money by population group in Lubango
| Group | Savers | Non Savers |
|---|
| Singles | 56% | 45% |
| Couples | 51% | 49% |
| Families | 46% | 54% |
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
8,700 AOA
$10 | 110,000 AOA
$130 | 1.1M AOA
$1,300 |
For most people, 5.9% to 25% of their monthly income is what they can allocate to their savings, with 11% being the average. The amount of money that people can save is approximately 110,000 AOA on average with savings ranging from 8,700 AOA to 1.1M AOA.
56% of surveyed singles reported some of their income going to savings while 51% of couples said the same. 46% of families confirmed their ability to save money.
How much money do people actually save in Lubango?
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
26,000 AOA
$31 | 78,000 AOA
$92 | 520,000 AOA
$610 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 32% |
| 10% - 20% | 25% |
| 20% - 30% | 16% |
| 30% - 40% | 13% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 8.8% to 27% of their monthly income to savings, with 15% being the average for most singles. The average amount of money that singles are able to save is 78,000 AOA with 26,000 AOA and 520,000 AOA being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
43,000 AOA
$51 | 130,000 AOA
$150 | 690,000 AOA
$820 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 36% |
| 10% - 20% | 27% |
| 20% - 30% | 19% |
| 30% - 40% | 8% |
| 40% - 50% | 7% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 6.8% to 26% of their monthly income, with 13% being the average for most couples. The average amount of money that couples can save is 130,000 AOA with 43,000 AOA and 690,000 AOA being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
61,000 AOA
$71 | 170,000 AOA
$200 | 950,000 AOA
$1,100 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 39% |
| 10% - 20% | 30% |
| 20% - 30% | 20% |
| 30% - 40% | 5% |
| 40% - 50% | 4% |
| > 50% | 2% |
Interpretation and Analysis
Families in Lubango can save anywhere between 5.9% to 24% of their monthly income, with 11% being the average for most families. The average amount of money that families can put aside is 170,000 AOA with 61,000 AOA and 950,000 AOA being the minimum and maximum respectively.
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 Lubango
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Lubango?
Around 45% of surveyed residents think that living in Lubango is affordable with proper budgeting while 55% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Lubango
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 options52%
Few low-cost options48%
Based on the survey, 52% of the people living in Lubango have no problem finding low-cost alternatives to support a frugal lifestyle while 48% 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 Lubango whether they have an emergency fund and the answers were as follows.
Yes42%
No58%
Based on the survey, 58% of the people living in Lubango said that they don't have an emergency fund while 42% said that they do.
Financial Literacy in Angola
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 Leteracy41%
We asked residents of Angola whether they acquired any adequate personal financial training in their lives. Approximately 59% 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 41% 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 Angola have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 57% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 43% said that they have everything under control.
Struggles with finance57%
Easily manages finances43%
Financial goals of people in Lubango
In an attempt to understand the economic situation in Lubango, 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 | 43% |
| Retirement Savings | 10% |
| Education Funding | 7% |
| Homeownership | 18% |
| Investing | 6% |
| Travel or Lifestyle | 6% |
| Healthcare Expenses | 14% |
| Financial Independence | 5% |
Around 8% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 43% 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. 6% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 6% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 14% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Saving Challenges in Lubango
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Lubango. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 5% |
| High Expenses | 8% |
| Debt and Loans | 13% |
| Lack of Budgeting Skills | 12% |
| Impulsive Spending | 12% |
| Financial Emergencies | 7% |
| Living the moment | 5% |
| Will do it later | 21% |
| Inflation | 13% |
| Social Pressure | 3% |
| Market Instability | 2% |
Around 5% of the people said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 13% of the residents said that they are burdened with debt and find it challenging to save money. 12% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 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. 21% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 13% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or societal expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.
Typical saving choices for people in Lubango
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 12% |
| Gold | 13% |
| Savings Accounts | 17% |
| Retirement Accounts | 10% |
| Cash Savings | 21% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 4% |
| Bonds | 5% |
| Mutual Funds | 2% |
| Certificates of Deposit | 3% |
Retirement, pension plans, and life after work in Lubango
What does the retirement lifestyle look like in Lubango and how much retirement savings are required?
Retirement age
The retirement age for most employees in Angola 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 Lubango:| Age | Amount |
|---|
| 25 | 1,000,000 AOA |
| 30 | 2M AOA |
| 35 | 3.5M AOA |
| 40 | 5M AOA |
| 45 | 7.5M AOA |
| 50 | 10M AOA |
| 55 | 12M AOA |
| 60 | 15M AOA |
| 65 | 18M AOA |
Retirement Income Distribution
We asked residents of Lubango about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 12% |
| Savings | 23% |
| Investments | 12% |
| Social Security | 7% |
| Annuities | 7% |
| Part-time Job | 15% |
| Real Estate | 18% |
| Dividends and Interest | 7% |
Retirement Monthly Expenses in Lubango 66,000 AOA
$78 | 200,000 AOA
$230 | 1.3M AOA
$1,600 |
Debt, loans, and mortgages in Lubango
Percentage of people who are in debt
According to the survey, 31% of the people in Lubango have some kind of debt, loan, mortgage, or credit card payments while 69% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Lubango
Debt to income ratio
32%
25% 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 Lubango goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 19% |
| 40% - 50% | 15% |
| 30% - 40% | 17% |
| 20% - 30% | 10% |
| 10% - 20% | 11% |
| 0% - 10% | 25% |
According to our data, 3% of the debtors in Lubango pay 60%+ of their income as debt settlement while 19% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 15% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 17% dedicated 30% to 40% of income for same. Things are looking brighter for 10% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Lubango
| Debt | % People |
|---|
| Real Estate Mortgage | 8% |
| Auto Loan | 14% |
| Student Loan | 4% |
| Credit Card | 30% |
| Personal Loan | 44% |
8% of debtors in Lubango confirm that real estate mortgages constitutes the main part of their outstanding debt while 30% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 14% of people and personal loans rose at 44%. Lastly, student loans are the main source of debt for 4% of debtors in Lubango.
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 Lubango
Besides measuring the loan-to-income ratio, we asked residents of Lubango how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.
Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.
| Frequency | % People |
|---|
| Never | 50% |
| Once a year | 24% |
| Twice a year | 13% |
| Three times a year | 9% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Lubango
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Lubango
Monthly Rent Prices
Studio apartment | 32,000 AOA | 48,000 AOA | 130,000 AOA |
1-bedroom apartment | 48,000 AOA | 77,000 AOA | 190,000 AOA |
2-bedroom apartment | 64,000 AOA | 96,000 AOA | 260,000 AOA |
3-bedroom apartment | 77,000 AOA | 130,000 AOA | 350,000 AOA |
Furnished apartment | 150,000 AOA | 380,000 AOA | 770,000 AOA |
Townhouse | 130,000 AOA | 190,000 AOA | 550,000 AOA |
House | 150,000 AOA | 380,000 AOA | 770,000 AOA |
Villa | 190,000 AOA | 480,000 AOA | 770,000 AOA |
The monthly rental cost of a studio apartment in Lubango ranges between 32,000 AOA and 130,000 AOA, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 48,000 AOA to 190,000 AOA. Two-bedroom rentals rate ranges between 64,000 AOA and 260,000 AOA per month. The monthly rental for a three-bedroom apartment ranges from 77,000 AOA to 350,000 AOA. The average rent of a townhouse in Lubango is around 190,000 AOA while house rental costs can be as high as 380,000 AOA per month. Finally, if you want to rent a villa, expect to pay anywhere from 190,000 AOA to 770,000 AOA per month.
Apartment and house prices in Lubango
Cost of buying a property
Studio apartment | 6.4M AOA | 9.6M AOA | 19M AOA |
1-bedroom apartment
2-bedroom apartment
3-bedroom apartment
Townhouse | 55M AOA | 130M AOA | 480M AOA |
| $64,000 | $150,000 | $560,000 |
House | 64M AOA | 380M AOA | 550M AOA |
| $75,000 | $450,000 | $640,000 |
Villa | 77M AOA | 430M AOA | 640M AOA |
| $90,000 | $500,000 | $750,000 |
The average price of a studio apartment in Lubango can range from 6.4M AOA to 19M AOA depending on location. One bedroom cost can be anywhere from 7.7M AOA to 48M AOA. A villa can cost you 430M AOA on average with prices ranging from 77M AOA to 640M AOA.
If you're leasing or purchasing, housing costs in Lubango 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
| 25 | x69 monthly income | 177 |
Property prices in Lubango can be x69 to x177 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x69 multiples of the average monthly salary in Lubango.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Lubango is around 26%. This means that people pay 26% of their income for rent. Those figures can range from 17% to 36% 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
24% 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.
| 590 AOA | 7,700 AOA | 77,000 AOA |
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.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Lubango
Housing29%
29% of total expenses on average (17% to 41%)
| LOW | $38 32,000 AOA |
| AVERAGE | $110 96,000 AOA |
| HIGH | $750 640,000 AOA |
| Per Month |
Utilities, Electricity, Water9%
9% of total expenses on average (5% to 14%)
| LOW | $6.3 5,300 AOA |
| AVERAGE | $19 16,000 AOA |
| HIGH | $130 110,000 AOA |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (3% to 11%)
| LOW | $8.4 7,100 AOA |
| AVERAGE | $25 21,000 AOA |
| HIGH | $170 140,000 AOA |
| Per Month |
Food and Groceries19%
19% of total expenses on average (13% to 24%)
| LOW | $17 14,000 AOA |
| AVERAGE | $50 43,000 AOA |
| HIGH | $340 280,000 AOA |
| Per Month |
Healthcare12%
12% of total expenses on average (6% to 16%)
| LOW | $9.4 8,000 AOA |
| AVERAGE | $28 24,000 AOA |
| HIGH | $190 160,000 AOA |
| Per Month |
Leisure, Shopping2%
2% of total expenses on average (2% to 5%)
| LOW | $5.2 4,500 AOA |
| AVERAGE | $16 13,000 AOA |
| HIGH | $100 89,000 AOA |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
| LOW | $2.1 1,800 AOA |
| AVERAGE | $6.3 5,300 AOA |
| HIGH | $42 36,000 AOA |
| Per Month |
Other Expenses22%
22% of total expenses on average (14% to 26%)
| LOW | $19 16,000 AOA |
| AVERAGE | $57 48,000 AOA |
| HIGH | $380 320,000 AOA |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Lubango
Housing26%
26% of total expenses on average (19% to 36%)
| LOW | $58 49,000 AOA |
| AVERAGE | $170 150,000 AOA |
| HIGH | $920 780,000 AOA |
| Per Month |
Utilities, Electricity, Water8%
8% of total expenses on average (6% to 12%)
| LOW | $8.7 7,400 AOA |
| AVERAGE | $26 22,000 AOA |
| HIGH | $140 120,000 AOA |
| Per Month |
Transport, Fuel9%
9% of total expenses on average (3% to 14%)
| LOW | $21 18,000 AOA |
| AVERAGE | $63 53,000 AOA |
| HIGH | $340 280,000 AOA |
| Per Month |
Food and Groceries17%
17% of total expenses on average (12% to 22%)
| LOW | $24 21,000 AOA |
| AVERAGE | $73 62,000 AOA |
| HIGH | $390 330,000 AOA |
| Per Month |
Healthcare14%
14% of total expenses on average (8% to 18%)
| LOW | $19 16,000 AOA |
| AVERAGE | $58 49,000 AOA |
| HIGH | $310 260,000 AOA |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (1% to 6%)
| LOW | $10 8,900 AOA |
| AVERAGE | $31 27,000 AOA |
| HIGH | $170 140,000 AOA |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
| LOW | $3.5 3,000 AOA |
| AVERAGE | $10 8,900 AOA |
| HIGH | $56 47,000 AOA |
| Per Month |
Other Expenses21%
21% of total expenses on average (15% to 27%)
| LOW | $30 25,000 AOA |
| AVERAGE | $89 76,000 AOA |
| HIGH | $480 400,000 AOA |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Lubango
Housing25%
25% of total expenses on average (20% to 35%)
| LOW | $78 66,000 AOA |
| AVERAGE | $220 190,000 AOA |
| HIGH | $1,200 1M AOA |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (3% to 7%)
| LOW | $20 17,000 AOA |
| AVERAGE | $56 47,000 AOA |
| HIGH | $310 260,000 AOA |
| Per Month |
Food and Groceries21%
21% of total expenses on average (14% to 27%)
| LOW | $44 37,000 AOA |
| AVERAGE | $130 110,000 AOA |
| HIGH | $690 590,000 AOA |
| Per Month |
Healthcare11%
11% of total expenses on average (7% to 16%)
| LOW | $20 17,000 AOA |
| AVERAGE | $56 47,000 AOA |
| HIGH | $310 260,000 AOA |
| Per Month |
Leisure, Shopping2%
2% of total expenses on average (1% to 6%)
| LOW | $12 10,000 AOA |
| AVERAGE | $35 30,000 AOA |
| HIGH | $190 160,000 AOA |
| Per Month |
Education13%
13% of total expenses on average (6% to 21%)
| LOW | $34 29,000 AOA |
| AVERAGE | $98 83,000 AOA |
| HIGH | $540 460,000 AOA |
| Per Month |
Other Expenses16%
16% of total expenses on average (9% to 21%)
| LOW | $29 25,000 AOA |
| AVERAGE | $84 71,000 AOA |
| HIGH | $460 390,000 AOA |
| Per Month |
StudentCost of living and expenses break down for students living in Lubango
Housing17%
17% of total expenses on average (12% to 23%)
| LOW | $19 17,000 AOA |
| AVERAGE | $49 41,000 AOA |
| HIGH | $88 75,000 AOA |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (5% to 11%)
| LOW | $3.2 2,800 AOA |
| AVERAGE | $8.1 6,900 AOA |
| HIGH | $15 12,000 AOA |
| Per Month |
Transport, Fuel4%
4% of total expenses on average (4% to 10%)
| LOW | $5.7 4,800 AOA |
| AVERAGE | $14 12,000 AOA |
| HIGH | $26 22,000 AOA |
| Per Month |
Food and Groceries23%
23% of total expenses on average (17% to 27%)
| LOW | $16 14,000 AOA |
| AVERAGE | $41 34,000 AOA |
| HIGH | $73 62,000 AOA |
| Per Month |
Healthcare9%
9% of total expenses on average (6% to 12%)
| LOW | $4.9 4,100 AOA |
| AVERAGE | $12 10,000 AOA |
| HIGH | $22 19,000 AOA |
| Per Month |
Leisure, Shopping2%
2% of total expenses on average (2% to 6%)
| LOW | $4.1 3,400 AOA |
| AVERAGE | $10 8,600 AOA |
| HIGH | $18 16,000 AOA |
| Per Month |
Education18%
18% of total expenses on average (11% to 23%)
| LOW | $15 13,000 AOA |
| AVERAGE | $39 33,000 AOA |
| HIGH | $69 59,000 AOA |
| Per Month |
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $12 10,000 AOA |
| AVERAGE | $30 26,000 AOA |
| HIGH | $55 47,000 AOA |
| Per Month |
