Cost Of Living in Manila 2024

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

Whether you're living in Manila 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

84,000 PHP

per month
$1,500

6,400 PHP   $120
$15,000   840,000 PHP

Single

58,000 PHP

per month
$1,000

19,000 PHP   $350
$6,900   390,000 PHP

Couple

97,000 PHP

per month
$1,700

32,000 PHP   $580
$9,200   520,000 PHP

Family

130,000 PHP

per month
$2,300

45,000 PHP   $810
$13,000   710,000 PHP

Student

38,000 PHP

per month
$680

15,000 PHP   $270
$1,200   69,000 PHP
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Manila is 58,000 PHP. Expenses can range from 19,000 PHP at the minimum level to 390,000 PHP at the highest end.


Couples

The average monthly spending of couples in Manila is 97,000 PHP. Expenditure can range from 32,000 PHP to 520,000 PHP per month.


Families

The average cost of living for families in Manila is 130,000 PHP per month. Families spend anywhere from 45,000 PHP to 710,000 PHP.


Students

The average monthly expenditure for students in Manila is 38,000 PHP. Students spend from 15,000 PHP to 69,000 PHP 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 Manila


Dining, food, and beverages costs


Large bottle of water
8.4 PHP 9.6 PHP 11 PHP
MINIMUM AVERAGE MAXIMUM
$0.15 $0.17 $0.20
Fast food combo meal
72 PHP 140 PHP 240 PHP
MINIMUM AVERAGE MAXIMUM
$1.3 $2.6 $4.3
Restaurant meal for one
260 PHP 390 PHP 780 PHP
MINIMUM AVERAGE MAXIMUM
$4.7 $7 $14
Fine dining meal for one
520 PHP 780 PHP 3,100 PHP
MINIMUM AVERAGE MAXIMUM
$9.3 $14 $56
Soda or Soft Drink
10 PHP 12 PHP 14 PHP
MINIMUM AVERAGE MAXIMUM
$0.18 $0.21 $0.26
Cappuccino or latte
60 PHP 96 PHP 140 PHP
MINIMUM AVERAGE MAXIMUM
$1.1 $1.7 $2.6

Grocery and market costs


Milk large bottle
48 PHP 57 PHP 72 PHP
MINIMUM AVERAGE MAXIMUM
$0.85 $1 $1.3
Loaf of bread
8.6 PHP 9.8 PHP 11 PHP
MINIMUM AVERAGE MAXIMUM
$0.15 $0.18 $0.20
12 eggs
36 PHP 48 PHP 72 PHP
MINIMUM AVERAGE MAXIMUM
$0.64 $0.85 $1.3
Fresh whole chicken
81 PHP 110 PHP 150 PHP
MINIMUM AVERAGE MAXIMUM
$1.5 $1.9 $2.7
Beef 1 kg or 1 lb
96 PHP 140 PHP 290 PHP
MINIMUM AVERAGE MAXIMUM
$1.7 $2.6 $5.1
Rice 1 kg or 1 lb
39 PHP 53 PHP 75 PHP
MINIMUM AVERAGE MAXIMUM
$0.69 $0.94 $1.3
Tomato 1 kg or 1 lb
14 PHP 19 PHP 36 PHP
MINIMUM AVERAGE MAXIMUM
$0.26 $0.34 $0.64
Apples 1 kg or 1 lb
26 PHP 33 PHP 55 PHP
MINIMUM AVERAGE MAXIMUM
$0.46 $0.60 $0.98

Commute, travel, and transportation costs


20 minutes taxi ride
65 PHP 78 PHP 160 PHP
MINIMUM AVERAGE MAXIMUM
$1.2 $1.4 $2.8
Average car full tank
360 PHP 480 PHP 960 PHP
MINIMUM AVERAGE MAXIMUM
$6.4 $8.5 $17
Average car 1-day rental
430 PHP 570 PHP 850 PHP
MINIMUM AVERAGE MAXIMUM
$7.6 $10 $15
Average car price
180,000 PHP 360,000 PHP 480,000 PHP
MINIMUM AVERAGE MAXIMUM
$3,200 $6,400 $8,500
Bus ticket one way
14 PHP 21 PHP 43 PHP
MINIMUM AVERAGE MAXIMUM
$0.25 $0.38 $0.76
Car Service
570 PHP 850 PHP 1,700 PHP
MINIMUM AVERAGE MAXIMUM
$10 $15 $30

Utility cost (monthly)


Utility Bill - Individual
1,200 PHP 3,500 PHP 23,000 PHP
MINIMUM AVERAGE MAXIMUM
$21 $62 $410
Utility Bill - Couple
1,600 PHP 4,800 PHP 26,000 PHP
MINIMUM AVERAGE MAXIMUM
$29 $86 $460
Utility Bill - Family
1,400 PHP 3,900 PHP 21,000 PHP
MINIMUM AVERAGE MAXIMUM
$24 $69 $380
Internet and cable
360 PHP 720 PHP 960 PHP
MINIMUM AVERAGE MAXIMUM
$6.4 $13 $17
Mobile phone charges
290 PHP 480 PHP 1,400 PHP
MINIMUM AVERAGE MAXIMUM
$5.1 $8.5 $26

Leisure and activities costs


Movie ticket
180 PHP 240 PHP 360 PHP
MINIMUM AVERAGE MAXIMUM
$3.2 $4.3 $6.4
One month gym membership
680 PHP 850 PHP 1,700 PHP
MINIMUM AVERAGE MAXIMUM
$12 $15 $30

Cloths and accessories costs


Pair of jeans or pants
500 PHP 710 PHP 1,100 PHP
MINIMUM AVERAGE MAXIMUM
$8.9 $13 $19
Woman dress
470 PHP 650 PHP 2,100 PHP
MINIMUM AVERAGE MAXIMUM
$8.4 $12 $38
Woman shoes
450 PHP 610 PHP 1,400 PHP
MINIMUM AVERAGE MAXIMUM
$8 $11 $25
Men's shoes
390 PHP 470 PHP 950 PHP
MINIMUM AVERAGE MAXIMUM
$6.9 $8.4 $17
Men suit
430 PHP 530 PHP 2,800 PHP
MINIMUM AVERAGE MAXIMUM
$7.6 $9.5 $51
Regular t-shirt
210 PHP 280 PHP 850 PHP
MINIMUM AVERAGE MAXIMUM
$3.8 $5.1 $15

Housing costs / monthly rent


Studio apartment
7,100 PHP 11,000 PHP 28,000 PHP
MINIMUM AVERAGE MAXIMUM
$130 $190 $510
1-bedroom apartment
11,000 PHP 17,000 PHP 43,000 PHP
MINIMUM AVERAGE MAXIMUM
$190 $300 $760
2-bedroom apartment
14,000 PHP 21,000 PHP 57,000 PHP
MINIMUM AVERAGE MAXIMUM
$250 $380 $1,000

Housing costs / Buying


Studio apartment
1.4M PHP 2.1M PHP 4.3M PHP
MINIMUM AVERAGE MAXIMUM
$25,000 $38,000 $76,000
1-bedroom apartment
1.7M PHP 2.8M PHP 11M PHP
MINIMUM AVERAGE MAXIMUM
$30,000 $51,000 $190,000
2-bedroom apartment
2.8M PHP 8.5M PHP 17M PHP
MINIMUM AVERAGE MAXIMUM
$51,000 $150,000 $300,000

Furniture Costs


King Size Bed
7,200 PHP 9,000 PHP 12,000 PHP
MINIMUM AVERAGE MAXIMUM
$130 $160 $210
Double Bed
4,800 PHP 7,200 PHP 9,000 PHP
MINIMUM AVERAGE MAXIMUM
$85 $130 $160
Single Bed
4,200 PHP 5,500 PHP 7,200 PHP
MINIMUM AVERAGE MAXIMUM
$75 $98 $130
Living Room
8,000 PHP 10,000 PHP 36,000 PHP
MINIMUM AVERAGE MAXIMUM
$140 $180 $640
Dining Table
3,600 PHP 4,800 PHP 9,000 PHP
MINIMUM AVERAGE MAXIMUM
$64 $85 $160
Sofa or Couch
4,800 PHP 6,500 PHP 14,000 PHP
MINIMUM AVERAGE MAXIMUM
$85 $120 $260

Electronics and House Appliance Costs


TV Set
4,800 PHP 7,200 PHP 14,000 PHP
MINIMUM AVERAGE MAXIMUM
$85 $130 $260
Fridge or Freezer
4,200 PHP 6,500 PHP 9,000 PHP
MINIMUM AVERAGE MAXIMUM
$75 $120 $160
Washing Machine
5,500 PHP 8,000 PHP 14,000 PHP
MINIMUM AVERAGE MAXIMUM
$98 $140 $260
Stove or Cooker
5,100 PHP 6,500 PHP 9,000 PHP
MINIMUM AVERAGE MAXIMUM
$91 $120 $160
Mobile Phone
6,000 PHP 7,200 PHP 10,000 PHP
MINIMUM AVERAGE MAXIMUM
$110 $130 $180
Laptop or Computer
6,500 PHP 8,000 PHP 14,000 PHP
MINIMUM AVERAGE MAXIMUM
$120 $140 $260

Expenditure to Income Ratio in Manila

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

97%

89% to 110%

( expenditure / income ) x 100


Expense to income distribution levels

Spending To Income Ratio% People
< 50%4%
50% - 60%8%
60% - 70%15%
70% - 80%24%
80% - 90%21%
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 Manila is 97% This means that on average, people spend around 97% 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
87%
Spending-Income-Ratio
80%
96%

Couple
92%
Spending-Income-Ratio
84%
100%

Family
100%
Spending-Income-Ratio
93%
110%

How do people spend their money in Manila?

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$35   1,900 PHP
AVERAGE$450   25,000 PHP
HIGH$4,500   250,000 PHP
Per Month

People living in Manila typically spend from 12% to 31% of their total monthly expenditure on housing with 23% being the average. The average spend on housing is 25,000 PHP with expenditure ranging from 1,900 PHP to 250,000 PHP. 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$5.8   320 PHP
AVERAGE$75   4,200 PHP
HIGH$750   42,000 PHP
Per Month

Utility expenditure like electricity, water, and gas in Manila ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 4,200 PHP with 320 PHP and 42,000 PHP being the upper and lower limits.

Transport, Fuel, Commute6%

6% of total expenses on average (3% to 10%)

LOW$12   640 PHP
AVERAGE$150   8,400 PHP
HIGH$1,500   84,000 PHP
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 640 PHP to 84,000 PHP on commuting with 8,400 PHP being the norm for most people in one month. This means that money spent on transport constitutes about 6% of total spending on average but can go as low as 3% or as high as 10%.

Food and Groceries Cost29%

29% of total expenses on average (21% to 35%)

LOW$29   1,600 PHP
AVERAGE$370   21,000 PHP
HIGH$3,700   210,000 PHP
Per Month

The average outlay on groceries in a month in Manila is 21,000 PHP. The cost of groceries can range between 1,600 PHP to 210,000 PHP. People spend on average about 29% on food and groceries with upper and lower bounds of 21% and 35% respectively.

Healthcare and Medical Services11%

11% of total expenses on average (6% to 14%)

LOW$8.1   450 PHP
AVERAGE$100   5,900 PHP
HIGH$1,000   59,000 PHP
Per Month

People in Manila 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 450 PHP to 59,000 PHP with 5,900 PHP being the norm.

Leisure and Shopping4%

4% of total expenses on average (2% to 8%)

LOW$4.6   260 PHP
AVERAGE$60   3,400 PHP
HIGH$600   34,000 PHP
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 260 PHP to 34,000 PHP with 3,400 PHP 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$6.9   390 PHP
AVERAGE$90   5,000 PHP
HIGH$900   50,000 PHP
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 5,000 PHP per month with 390 PHP being the minimum spent amount and 50,000 PHP being the maximum.

Other Expenses14%

14% of total expenses on average (9% to 21%)

LOW$15   840 PHP
AVERAGE$190   11,000 PHP
HIGH$1,900   110,000 PHP
Per Month

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


Saving Money
65%
Not Saving
35%

Almost 65% of the surveyed people in Manila said that they can save some money at the end of each month while 35% said that aren't saving anything.

Percentage of people saving money by population group in Manila

GroupSaversNon Savers
Singles69%31%
Couples64%36%
Families58%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

13% 22% of income 35%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

2,100 PHP
$37		 27,000 PHP
$480		 270,000 PHP
$4,800
MINIMUM AVERAGE MAXIMUM

For most people, 13% to 35% of their monthly income is what they can allocate to their savings, with 22% being the average. The amount of money that people can save is approximately 27,000 PHP on average with savings ranging from 2,100 PHP to 270,000 PHP.

69% of surveyed singles reported some of their income going to savings while 64% of couples said the same. 58% of families confirmed their ability to save money.

How much money do people actually save in Manila?

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

16% 26% of income 38%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

6,200 PHP
$110		 19,000 PHP
$330		 120,000 PHP
$2,200
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

Saving To Income Ratio% Singles
0% - 10%33%
10% - 20%26%
20% - 30%16%
30% - 40%12%
40% - 50%9%
> 50%4%

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 16% to 38% of their monthly income to savings, with 26% being the average for most singles. The average amount of money that singles are able to save is 19,000 PHP with 6,200 PHP and 120,000 PHP being the minimum and maximum respectively.

Couples

Saving to Income Ratio

14% 24% of income 36%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

10,000 PHP
$180		 31,000 PHP
$550		 170,000 PHP
$2,900
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%37%
10% - 20%28%
20% - 30%19%
30% - 40%7%
40% - 50%6%
> 50%3%

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 14% to 36% of their monthly income, with 24% being the average for most couples. The average amount of money that couples can save is 31,000 PHP with 10,000 PHP and 170,000 PHP being the minimum and maximum respectively.

Families

Saving to Income Ratio

11% 20% of income 33%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

14,000 PHP
$260		 41,000 PHP
$740		 230,000 PHP
$4,100
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%40%
10% - 20%31%
20% - 30%20%
30% - 40%4%
40% - 50%3%
> 50%2%

Interpretation and Analysis

Families in Manila can save anywhere between 11% to 33% of their monthly income, with 20% being the average for most families. The average amount of money that families can put aside is 41,000 PHP with 14,000 PHP and 230,000 PHP 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 Manila

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Manila?


Yes
61%
No
39%

Around 61% of surveyed residents think that living in Manila is affordable with proper budgeting while 39% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Manila

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 options64%

Few low-cost options36%


Based on the survey, 64% of the people living in Manila have no problem finding low-cost alternatives to support a frugal lifestyle while 36% 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 Manila whether they have an emergency fund and the answers were as follows.

Yes59%

No41%


Based on the survey, 41% of the people living in Manila said that they don't have an emergency fund while 59% said that they do.

Financial Literacy in Philippines

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 Leteracy49%


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

Struggles with finance47%

Easily manages finances53%

Financial goals of people in Manila

In an attempt to understand the economic situation in Manila, 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 Fund9%
Debt Reduction44%
Retirement Savings11%
Education Funding6%
Homeownership19%
Investing6%
Travel or Lifestyle6%
Healthcare Expenses15%
Financial Independence4%

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 44% 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 6% 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.

Saving Challenges in Manila

Reasons that make it difficult for people to save money

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


Reason% People
Low Income4%
High Expenses7%
Debt and Loans12%
Lack of Budgeting Skills12%
Impulsive Spending12%
Financial Emergencies7%
Living the moment5%
Will do it later22%
Inflation14%
Social Pressure3%
Market Instability2%

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 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 Manila

Where do people choose to put their savings?


Saving Type% People
Emergency Funds13%
Gold13%
Savings Accounts17%
Retirement Accounts9%
Cash Savings22%
Real Estate9%
Investment5%
Stocks4%
Bonds4%
Mutual Funds2%
Certificates of Deposit3%

Retirement, pension plans, and life after work in Manila

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

Retirement age

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

Retirement planning and savings

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


The typical saved amount of money you should have at every age as multiples of monthly salary:
AgeAmount
255x monthly salary at age 25
3010x monthly salary at age 30
3515x monthly salary at age 35
4025x monthly salary at age 40
4532x monthly salary at age 45
5048x monthly salary at age 50
5556x monthly salary at age 55
6064x monthly salary at age 60
6578x monthly salary at age 65

The typical average saved amount of money you should have at every age in Manila:
AgeAmount
25220,000 PHP
30440,000 PHP
35770,000 PHP
401.1M PHP
451.7M PHP
502.3M PHP
552.8M PHP
603.4M PHP
654.1M PHP

Retirement Income Distribution

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

Source% People
Pensions11%
Savings24%
Investments11%
Social Security6%
Annuities6%
Part-time Job16%
Real Estate19%
Dividends and Interest6%

Retirement Monthly Expenses in Manila

14,000 PHP
$250		 43,000 PHP
$760		 280,000 PHP
$5,100
MINIMUM AVERAGE MAXIMUM

Debt, loans, and mortgages in Manila


Percentage of people who are in debt


In Debt
34%
Debt Free
66%

According to the survey, 34% of the people in Manila 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 Manila

Debt to income ratio

34%

25% to 44%

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


Debt levels

Monthly 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%9%
10% - 20%11%
0% - 10%25%

According to our data, 3% of the debtors in Manila 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 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 Manila

Debt% People
Real Estate Mortgage7%
Auto Loan14%
Student Loan4%
Credit Card31%
Personal Loan44%

7% of debtors in Manila 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 14% of people and personal loans rose at 44%. Lastly, student loans are the main source of debt for 4% of debtors in Manila.


About credit score and debt management

Managing debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.

Loan Affordability Index in Manila

Besides measuring the loan-to-income ratio, we asked residents of Manila 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
Never49%
Once a year24%
Twice a year13%
Three times a year9%
Four times a year4%

Housing costs, accommodation, and housing affordability in Manila

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


Rent Cost in Manila

Monthly Rent Prices

Studio apartment
7,100 PHP 11,000 PHP 28,000 PHP
MINIMUM AVERAGE MAXIMUM
$130 $190 $510
1-bedroom apartment
11,000 PHP 17,000 PHP 43,000 PHP
MINIMUM AVERAGE MAXIMUM
$190 $300 $760
2-bedroom apartment
14,000 PHP 21,000 PHP 57,000 PHP
MINIMUM AVERAGE MAXIMUM
$250 $380 $1,000
3-bedroom apartment
17,000 PHP 28,000 PHP 77,000 PHP
MINIMUM AVERAGE MAXIMUM
$300 $510 $1,400
Furnished apartment
34,000 PHP 85,000 PHP 170,000 PHP
MINIMUM AVERAGE MAXIMUM
$610 $1,500 $3,000
Townhouse
28,000 PHP 43,000 PHP 120,000 PHP
MINIMUM AVERAGE MAXIMUM
$510 $760 $2,200
House
34,000 PHP 85,000 PHP 170,000 PHP
MINIMUM AVERAGE MAXIMUM
$610 $1,500 $3,000
Villa
43,000 PHP 110,000 PHP 170,000 PHP
MINIMUM AVERAGE MAXIMUM
$760 $1,900 $3,000

The monthly rental cost of a studio apartment in Manila ranges between 7,100 PHP and 28,000 PHP, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 11,000 PHP to 43,000 PHP. Two-bedroom rentals rate ranges between 14,000 PHP and 57,000 PHP per month. The monthly rental for a three-bedroom apartment ranges from 17,000 PHP to 77,000 PHP. The average rent of a townhouse in Manila is around 43,000 PHP while house rental costs can be as high as 85,000 PHP per month. Finally, if you want to rent a villa, expect to pay anywhere from 43,000 PHP to 170,000 PHP per month.



Apartment and house prices in Manila

Cost of buying a property

Studio apartment
1.4M PHP 2.1M PHP 4.3M PHP
MINIMUM AVERAGE MAXIMUM
$25,000 $38,000 $76,000
1-bedroom apartment
1.7M PHP 2.8M PHP 11M PHP
MINIMUM AVERAGE MAXIMUM
$30,000 $51,000 $190,000
2-bedroom apartment
2.8M PHP 8.5M PHP 17M PHP
MINIMUM AVERAGE MAXIMUM
$51,000 $150,000 $300,000
3-bedroom apartment
9.5M PHP 14M PHP 43M PHP
MINIMUM AVERAGE MAXIMUM
$170,000 $250,000 $760,000
Townhouse
12M PHP 28M PHP 110M PHP
MINIMUM AVERAGE MAXIMUM
$220,000 $510,000 $1.9M
House
14M PHP 85M PHP 120M PHP
MINIMUM AVERAGE MAXIMUM
$250,000 $1.5M $2.2M
Villa
17M PHP 95M PHP 140M PHP
MINIMUM AVERAGE MAXIMUM
$300,000 $1.7M $2.5M

The average price of a studio apartment in Manila can range from 1.4M PHP to 4.3M PHP depending on location. One bedroom cost can be anywhere from 1.7M PHP to 11M PHP. A villa can cost you 95M PHP on average with prices ranging from 17M PHP to 140M PHP.


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


41 x117 monthly income 229
MINIMUM AVERAGE MAXIMUM

Property prices in Manila can be x117 to x229 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x117 multiples of the average monthly salary in Manila.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


23% 34% of income 45%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Manila is around 34%. This means that people pay 34% of their income for rent. Those figures can range from 23% to 45% 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
31%

Property Taxes

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


FROM
1.9%
AVERAGE
2.9%
TO
3.8%

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.


130 PHP 1,700 PHP 17,000 PHP
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

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


SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Manila

Housing29%

29% of total expenses on average (17% to 41%)

LOW$120   7,000 PHP
AVERAGE$370   21,000 PHP
HIGH$2,500   140,000 PHP
Per Month

Utilities, Electricity, Water9%

9% of total expenses on average (5% to 14%)

LOW$21   1,200 PHP
AVERAGE$62   3,500 PHP
HIGH$410   23,000 PHP
Per Month

Transport, Fuel4%

4% of total expenses on average (2% to 10%)

LOW$28   1,500 PHP
AVERAGE$83   4,600 PHP
HIGH$550   31,000 PHP
Per Month

Food and Groceries20%

20% of total expenses on average (14% to 25%)

LOW$55   3,100 PHP
AVERAGE$170   9,300 PHP
HIGH$1,100   62,000 PHP
Per Month

Healthcare13%

13% of total expenses on average (7% to 17%)

LOW$31   1,700 PHP
AVERAGE$93   5,200 PHP
HIGH$620   35,000 PHP
Per Month

Leisure, Shopping2%

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

LOW$17   970 PHP
AVERAGE$52   2,900 PHP
HIGH$350   19,000 PHP
Per Month

Education1%

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

LOW$6.9   390 PHP
AVERAGE$21   1,200 PHP
HIGH$140   7,700 PHP
Per Month

Other Expenses22%

22% of total expenses on average (14% to 26%)

LOW$62   3,500 PHP
AVERAGE$190   10,000 PHP
HIGH$1,200   70,000 PHP
Per Month


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

Housing26%

26% of total expenses on average (19% to 36%)

LOW$190   11,000 PHP
AVERAGE$570   32,000 PHP
HIGH$3,000   170,000 PHP
Per Month

Utilities, Electricity, Water8%

8% of total expenses on average (6% to 12%)

LOW$29   1,600 PHP
AVERAGE$86   4,800 PHP
HIGH$460   26,000 PHP
Per Month

Transport, Fuel8%

8% of total expenses on average (2% to 13%)

LOW$69   3,900 PHP
AVERAGE$210   12,000 PHP
HIGH$1,100   62,000 PHP
Per Month

Food and Groceries18%

18% of total expenses on average (13% to 23%)

LOW$81   4,500 PHP
AVERAGE$240   14,000 PHP
HIGH$1,300   72,000 PHP
Per Month

Healthcare15%

15% of total expenses on average (9% to 19%)

LOW$63   3,500 PHP
AVERAGE$190   11,000 PHP
HIGH$1,000   57,000 PHP
Per Month

Leisure, Shopping3%

3% of total expenses on average (1% to 6%)

LOW$35   1,900 PHP
AVERAGE$100   5,800 PHP
HIGH$550   31,000 PHP
Per Month

Education1%

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

LOW$12   640 PHP
AVERAGE$35   1,900 PHP
HIGH$180   10,000 PHP
Per Month

Other Expenses21%

21% of total expenses on average (15% to 27%)

LOW$98   5,500 PHP
AVERAGE$290   16,000 PHP
HIGH$1,600   88,000 PHP
Per Month


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

Housing25%

25% of total expenses on average (20% to 35%)

LOW$260   14,000 PHP
AVERAGE$740   41,000 PHP
HIGH$4,100   230,000 PHP
Per Month

Transport, Fuel4%

4% of total expenses on average (2% to 6%)

LOW$64   3,600 PHP
AVERAGE$180   10,000 PHP
HIGH$1,000   57,000 PHP
Per Month

Food and Groceries22%

22% of total expenses on average (15% to 28%)

LOW$150   8,100 PHP
AVERAGE$410   23,000 PHP
HIGH$2,300   130,000 PHP
Per Month

Healthcare12%

12% of total expenses on average (8% to 17%)

LOW$64   3,600 PHP
AVERAGE$180   10,000 PHP
HIGH$1,000   57,000 PHP
Per Month

Leisure, Shopping2%

2% of total expenses on average (1% to 6%)

LOW$40   2,300 PHP
AVERAGE$120   6,400 PHP
HIGH$630   35,000 PHP
Per Month

Education13%

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

LOW$110   6,300 PHP
AVERAGE$320   18,000 PHP
HIGH$1,800   99,000 PHP
Per Month

Other Expenses16%

16% of total expenses on average (9% to 21%)

LOW$97   5,400 PHP
AVERAGE$280   15,000 PHP
HIGH$1,500   85,000 PHP
Per Month


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

Housing17%

17% of total expenses on average (12% to 23%)

LOW$66   3,700 PHP
AVERAGE$160   9,200 PHP
HIGH$300   17,000 PHP
Per Month

Utilities, Electricity, Water7%

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

LOW$11   610 PHP
AVERAGE$27   1,500 PHP
HIGH$49   2,800 PHP
Per Month

Transport, Fuel3%

3% of total expenses on average (4% to 9%)

LOW$19   1,100 PHP
AVERAGE$48   2,700 PHP
HIGH$86   4,800 PHP
Per Month

Food and Groceries24%

24% of total expenses on average (18% to 28%)

LOW$55   3,100 PHP
AVERAGE$140   7,700 PHP
HIGH$250   14,000 PHP
Per Month

Healthcare10%

10% of total expenses on average (7% to 13%)

LOW$16   920 PHP
AVERAGE$41   2,300 PHP
HIGH$74   4,100 PHP
Per Month

Leisure, Shopping2%

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

LOW$14   770 PHP
AVERAGE$34   1,900 PHP
HIGH$62   3,400 PHP
Per Month

Education18%

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

LOW$52   2,900 PHP
AVERAGE$130   7,300 PHP
HIGH$230   13,000 PHP
Per Month

Other Expenses19%

19% of total expenses on average (13% to 25%)

LOW$41   2,300 PHP
AVERAGE$100   5,700 PHP
HIGH$180   10,000 PHP
Per Month
Philippines»Manila
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