Cost Of Living in Minsk 2025

cost of living chart - average monthly expenditure in Minsk

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

Whether you're living in Minsk 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: BYN
250 3,300 33,000
MINIMUM AVERAGE MAXIMUM
$77 $1,000 $10,000

Monthly Expenditure ▶ Single

Currency: BYN
320 2,300 15,000
MINIMUM AVERAGE MAXIMUM
$97 $690 $4,600

Monthly Expenditure ▶ Couple

Currency: BYN
1,300 3,800 20,000
MINIMUM AVERAGE MAXIMUM
$380 $1,200 $6,200

Monthly Expenditure ▶ Family

Currency: BYN
1,800 5,000 33,000
MINIMUM AVERAGE MAXIMUM
$540 $1,500 $10,000

Monthly Expenditure ▶ Student

Currency: BYN
250 1,700 11,000
MINIMUM AVERAGE MAXIMUM
$77 $510 $3,400
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Minsk is 2,300 BYN. Expenses can range from 320 BYN at the minimum level to 15,000 BYN at the highest end.


Couples

The average monthly spending of couples in Minsk is 3,800 BYN. Expenditure can range from 1,300 BYN to 20,000 BYN per month.


Families

The average cost of living for families in Minsk is 5,000 BYN per month. Families spend anywhere from 1,800 BYN to 33,000 BYN.


Students

The average monthly expenditure for students in Minsk is 1,700 BYN. Students spend from 250 BYN to 11,000 BYN 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 Minsk


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

Dining, food, and beverages costs


Fast food combo meal

3 BYN 6.1 BYN 10 BYN
MINIMUM AVERAGE MAXIMUM
$0.93 $1.9 $3.1

Restaurant meal for one

11 BYN 16 BYN 32 BYN
MINIMUM AVERAGE MAXIMUM
$3.3 $4.9 $9.8

Fine dining meal for one

21 BYN 32 BYN 130 BYN
MINIMUM AVERAGE MAXIMUM
$6.5 $9.8 $39

Cappuccino or latte

2.5 BYN 4.1 BYN 6.1 BYN
MINIMUM AVERAGE MAXIMUM
$0.78 $1.2 $1.9

Grocery and market costs


Milk large bottle

2 BYN 2.4 BYN 3 BYN
MINIMUM AVERAGE MAXIMUM
$0.62 $0.75 $0.93

12 eggs

1.5 BYN 2 BYN 3 BYN
MINIMUM AVERAGE MAXIMUM
$0.47 $0.62 $0.93

Fresh whole chicken

3.5 BYN 4.5 BYN 6.3 BYN
MINIMUM AVERAGE MAXIMUM
$1.1 $1.4 $1.9

Pack of beef

4.1 BYN 6.1 BYN 12 BYN
MINIMUM AVERAGE MAXIMUM
$1.2 $1.9 $3.7

Medium bag of rice

1.6 BYN 2.2 BYN 3.2 BYN
MINIMUM AVERAGE MAXIMUM
$0.50 $0.69 $0.97

Bag of tomatos

0.61 BYN 0.81 BYN 1.5 BYN
MINIMUM AVERAGE MAXIMUM
$0.19 $0.25 $0.47

Bag of apples

1.1 BYN 1.4 BYN 2.3 BYN
MINIMUM AVERAGE MAXIMUM
$0.33 $0.44 $0.72
Chart showing the prices and cost of commute, travel, and transportation in Minsk

Commute, travel, and transportation costs


20 minutes taxi ride

2.7 BYN 3.2 BYN 6.4 BYN
MINIMUM AVERAGE MAXIMUM
$0.82 $0.98 $2

Average car full tank

15 BYN 20 BYN 41 BYN
MINIMUM AVERAGE MAXIMUM
$4.7 $6.2 $12

Average car 1-day rental

17 BYN 22 BYN 33 BYN
MINIMUM AVERAGE MAXIMUM
$5.1 $6.8 $10

Average car price

7,600 BYN 15,000 BYN 20,000 BYN
MINIMUM AVERAGE MAXIMUM
$2,300 $4,700 $6,200

Bus ticket one way

0.56 BYN 0.84 BYN 1.7 BYN
MINIMUM AVERAGE MAXIMUM
$0.17 $0.26 $0.51

Car Service

22 BYN 33 BYN 67 BYN
MINIMUM AVERAGE MAXIMUM
$6.8 $10 $20
Chart showing the prices and cost of utility, energy, water, and gas for a family in Minsk

Utility cost (monthly)


Utility Bill - Individual

19 BYN 140 BYN 900 BYN
MINIMUM AVERAGE MAXIMUM
$5.8 $42 $280

Utility Bill - Couple

50 BYN 170 BYN 1,100 BYN
MINIMUM AVERAGE MAXIMUM
$15 $52 $340

Utility Bill - Family

88 BYN 250 BYN 1,600 BYN
MINIMUM AVERAGE MAXIMUM
$27 $77 $500

Internet and cable

15 BYN 30 BYN 41 BYN
MINIMUM AVERAGE MAXIMUM
$4.7 $9.3 $12

Mobile phone charges

12 BYN 20 BYN 61 BYN
MINIMUM AVERAGE MAXIMUM
$3.7 $6.2 $19

Leisure and activities costs


Movie ticket

7.6 BYN 10 BYN 15 BYN
MINIMUM AVERAGE MAXIMUM
$2.3 $3.1 $4.7

One month gym membership

27 BYN 33 BYN 67 BYN
MINIMUM AVERAGE MAXIMUM
$8.2 $10 $20
Chart showing the prices and cost of clothing and accessories in Minsk

Cloths and accessories costs


Pair of jeans or pants

20 BYN 28 BYN 42 BYN
MINIMUM AVERAGE MAXIMUM
$6 $8.5 $13

Woman dress

19 BYN 26 BYN 84 BYN
MINIMUM AVERAGE MAXIMUM
$5.7 $7.9 $26

Woman shoes

18 BYN 24 BYN 56 BYN
MINIMUM AVERAGE MAXIMUM
$5.4 $7.3 $17

Men's shoes

15 BYN 19 BYN 37 BYN
MINIMUM AVERAGE MAXIMUM
$4.7 $5.7 $11

Men suit

17 BYN 21 BYN 110 BYN
MINIMUM AVERAGE MAXIMUM
$5.1 $6.4 $34

Regular t-shirt

8.4 BYN 11 BYN 33 BYN
MINIMUM AVERAGE MAXIMUM
$2.6 $3.4 $10
Chart showing the prices and cost of housing, accommodation, and rent in Minsk

Housing costs / monthly rent


Studio apartment

280 BYN 420 BYN 1,100 BYN
MINIMUM AVERAGE MAXIMUM
$85 $130 $340

1-bedroom apartment

420 BYN 670 BYN 1,700 BYN
MINIMUM AVERAGE MAXIMUM
$130 $200 $510

2-bedroom apartment

560 BYN 840 BYN 2,200 BYN
MINIMUM AVERAGE MAXIMUM
$170 $260 $680

Housing costs / Buying


Studio apartment

56,000 BYN 84,000 BYN 170,000 BYN
MINIMUM AVERAGE MAXIMUM
$17,000 $26,000 $51,000

1-bedroom apartment

67,000 BYN 110,000 BYN 420,000 BYN
MINIMUM AVERAGE MAXIMUM
$20,000 $34,000 $130,000

2-bedroom apartment

110,000 BYN 330,000 BYN 670,000 BYN
MINIMUM AVERAGE MAXIMUM
$34,000 $100,000 $200,000
Chart showing the prices and cost of furniture in Minsk

Furniture Costs


King Size Bed

300 BYN 380 BYN 510 BYN
MINIMUM AVERAGE MAXIMUM
$93 $120 $160

Double Bed

200 BYN 300 BYN 380 BYN
MINIMUM AVERAGE MAXIMUM
$62 $93 $120

Single Bed

180 BYN 230 BYN 300 BYN
MINIMUM AVERAGE MAXIMUM
$55 $72 $93

Living Room

340 BYN 440 BYN 1,500 BYN
MINIMUM AVERAGE MAXIMUM
$100 $130 $470

Dining Table

150 BYN 200 BYN 380 BYN
MINIMUM AVERAGE MAXIMUM
$47 $62 $120

Sofa or Couch

200 BYN 280 BYN 610 BYN
MINIMUM AVERAGE MAXIMUM
$62 $85 $190
Chart showing the prices and cost of electronic devices and appliances in Minsk

Electronics and House Appliance Costs


TV Set

200 BYN 300 BYN 610 BYN
MINIMUM AVERAGE MAXIMUM
$62 $93 $190

Fridge or Freezer

180 BYN 280 BYN 380 BYN
MINIMUM AVERAGE MAXIMUM
$55 $85 $120

Washing Machine

230 BYN 340 BYN 610 BYN
MINIMUM AVERAGE MAXIMUM
$72 $100 $190

Stove or Cooker

220 BYN 280 BYN 380 BYN
MINIMUM AVERAGE MAXIMUM
$67 $85 $120

Mobile Phone

250 BYN 300 BYN 440 BYN
MINIMUM AVERAGE MAXIMUM
$78 $93 $130

Laptop or Computer

280 BYN 340 BYN 610 BYN
MINIMUM AVERAGE MAXIMUM
$85 $100 $190

Expenditure to Income Ratio in Minsk

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

Cost of living and expenditure to income ratio in Minsk

Spending to Income Ratio

95%

86% to 110%

( expenditure / income ) x 100


Expense to income distribution levels

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

Interpretation and Analysis

The average spending-to-salary ratio in Minsk is 95% This means that on average, people spend around 95% 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
86%
Spending-Income-Ratio
78%
95%

Couple
91%
Spending-Income-Ratio
82%
100%

Family
100%
Spending-Income-Ratio
91%
110%
Distribution of monthly cost of living expenses in Minsk

How do people spend their money in Minsk?

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

The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.

Housing Expenditure25%

25% of total expenses on average (14% to 33%)

LOW$23   75 BYN
AVERAGE$300   980 BYN
HIGH$3,000   9,800 BYN
Per Month

People living in Minsk typically spend from 14% to 33% of their total monthly expenditure on housing with 25% being the average. The average spend on housing is 980 BYN with expenditure ranging from 75 BYN to 9,800 BYN. 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$3.8   13 BYN
AVERAGE$50   160 BYN
HIGH$500   1,600 BYN
Per Month

Utility expenditure like electricity, water, and gas in Minsk ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 160 BYN with 13 BYN and 1,600 BYN being the upper and lower limits.

Transport, Fuel, Commute7%

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

LOW$7.7   25 BYN
AVERAGE$100   330 BYN
HIGH$1,000   3,300 BYN
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 25 BYN to 3,300 BYN on commuting with 330 BYN 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$19   63 BYN
AVERAGE$250   820 BYN
HIGH$2,500   8,200 BYN
Per Month

The average outlay on groceries in a month in Minsk is 820 BYN. The cost of groceries can range between 63 BYN to 8,200 BYN. 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$5.4   18 BYN
AVERAGE$70   230 BYN
HIGH$700   2,300 BYN
Per Month

People in Minsk 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 18 BYN to 2,300 BYN with 230 BYN being the norm.

Leisure and Shopping5%

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

LOW$3.1   10 BYN
AVERAGE$40   130 BYN
HIGH$400   1,300 BYN
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 10 BYN to 1,300 BYN with 130 BYN 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$4.6   15 BYN
AVERAGE$60   200 BYN
HIGH$600   2,000 BYN
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 200 BYN per month with 15 BYN being the minimum spent amount and 2,000 BYN being the maximum.

Other Expenses13%

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

LOW$10   33 BYN
AVERAGE$130   420 BYN
HIGH$1,300   4,200 BYN
Per Month
Percentage of people who manage to save money from their income every month in Minsk

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


Saving Money
70%
Not Saving
30%

Almost 70% of the surveyed people in Minsk said that they can save some money at the end of each month while 30% said that aren't saving anything.


Percentage of people saving money by population group in Minsk

GroupSaversNon Savers
Singles70%30%
Couples65%35%
Families59%41%

Savings-to-Income Ratio

The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.


Savings to income ratio in Minsk

Saving to Income Ratio

14% 23% of income 36%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

83 BYN
$25
1,100 BYN
$330
11,000 BYN
$3,300
MINIMUM AVERAGE MAXIMUM

For most people, 14% to 36% of their monthly income is what they can allocate to their savings, with 23% being the average. The amount of money that people can save is approximately 1,100 BYN on average with savings ranging from 83 BYN to 11,000 BYN.

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


How much money do people actually save in Minsk?

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

17% 27% of income 39%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

83 BYN
$25
750 BYN
$230
5,000 BYN
$1,500
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

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

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 17% to 39% of their monthly income to savings, with 27% being the average for most singles. The average amount of money that singles are able to save is 750 BYN with 83 BYN and 5,000 BYN being the minimum and maximum respectively.


Couples

Saving to Income Ratio

15% 25% of income 38%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

410 BYN
$130
1,200 BYN
$380
6,600 BYN
$2,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

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

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 15% to 38% of their monthly income, with 25% being the average for most couples. The average amount of money that couples can save is 1,200 BYN with 410 BYN and 6,600 BYN being the minimum and maximum respectively.


Families

Saving to Income Ratio

13% 22% of income 33%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

580 BYN
$180
1,700 BYN
$510
11,000 BYN
$3,300
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

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

Interpretation and Analysis

Families in Minsk can save anywhere between 13% to 33% of their monthly income, with 22% being the average for most families. The average amount of money that families can put aside is 1,700 BYN with 580 BYN and 11,000 BYN being the minimum and maximum respectively.

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

Saving Challenges in Minsk

Reasons that make it difficult for people to save money

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


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

Around 5% of the people said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 15% of the residents said that they are burdened with debt and find it challenging to save money. 11% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 11% blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 19% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 12% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Where do people choose to put their savings in Minsk

Typical saving choices for people in Minsk

Where do people choose to put their savings?


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

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

  • 50% for needs and financial obligations

    This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

  • 30% for wants and discretionary spending

    This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

  • 20% for savings and emergency fund

    This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.

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

Affordable living in Minsk

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Minsk?


Yes
67%
No
33%

Around 67% of surveyed residents think that living in Minsk is affordable with proper budgeting while 33% reported that it is just too expensive and not affordable even with frugality and thriftness.

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

Low-cost alternatives in Minsk

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 options67%

Few low-cost options33%


Based on the survey, 67% of the people living in Minsk have no problem finding low-cost alternatives to support a frugal lifestyle while 33% 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 Minsk whether they have an emergency fund and the answers were as follows.

Yes67%

No33%


Based on the survey, 33% of the people living in Minsk said that they don't have an emergency fund while 67% said that they do.

Financial literacy and difficulty in budgeting and financial planning in Minsk

Financial Literacy in Belarus

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 Leteracy54%


We asked residents of Belarus whether they acquired any adequate personal financial training in their lives. Approximately 46% 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 54% 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 Belarus have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 36% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 64% said that they have everything under control.

Struggles with finance36%

Easily manages finances64%

Financial goals and targets of people living in Minsk

Financial goals of people in Minsk

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


Financial Goal% People
Emergency Fund8%
Debt Reduction39%
Retirement Savings9%
Education Funding7%
Homeownership18%
Investing7%
Travel or Lifestyle8%
Healthcare Expenses12%
Financial Independence6%

Around 8% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 39% said their number one priority is to pay off high-interest debt or loans and improve credit. 9% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 7% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 8% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 12% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Retirement, pension plans, and life after work in Minsk

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

Retirement age

The retirement age for most employees in Belarus 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 Minsk:
AgeAmount
258,700 BYN
3017,000 BYN
3530,000 BYN
4043,000 BYN
4565,000 BYN
5091,000 BYN
55110,000 BYN
60130,000 BYN
65160,000 BYN

Retirement Income Distribution

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

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

Retirement Monthly Expenses in Minsk

180 BYN
$56
1,700 BYN
$510
11,000 BYN
$3,400
MINIMUM AVERAGE MAXIMUM
Chart showing the percentage of people who are in debt in Minsk

Debt, loans, and mortgages in Minsk


Percentage of people who are in debt


In Debt
28%
Debt Free
72%

According to the survey, 28% of the people in Minsk have some kind of debt, loan, mortgage, or credit card payments while 72% reported that they don't have financial obligations to banks.


Chart showing debt-to-income ratio in Minsk

Debt-to-income ratio in Minsk

Debt to income ratio

33%

24% to 43%

( 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 33% of the people's monthly income in Minsk goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%16%
40% - 50%13%
30% - 40%15%
20% - 30%12%
10% - 20%14%
0% - 10%26%

According to our data, 3% of the debtors in Minsk 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. 13% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 15% dedicated 30% to 40% of income for same. Things are looking brighter for 12% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Minsk

Debt% People
Real Estate Mortgage10%
Auto Loan18%
Student Loan4%
Credit Card28%
Personal Loan41%

10% of debtors in Minsk confirm that real estate mortgages constitutes the main part of their outstanding debt while 28% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 18% of people and personal loans rose at 41%. Lastly, student loans are the main source of debt for 4% of debtors in Minsk.


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 Minsk

Besides measuring the loan-to-income ratio, we asked residents of Minsk how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Frequency% People
Never52%
Once a year23%
Twice a year12%
Three times a year9%
Four times a year4%
Housing and accommodation affordability, property price to income ratio, rent to income ratio, and housing affordability index chart in Minsk

Housing costs, accommodation, and housing affordability in Minsk

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


Rent Cost in Minsk

Monthly Rent Prices

Studio apartment monthly rent cost

280 BYN 420 BYN 1,100 BYN
MINIMUM AVERAGE MAXIMUM
$85 $130 $340

1-bedroom apartment monthly rent cost

420 BYN 670 BYN 1,700 BYN
MINIMUM AVERAGE MAXIMUM
$130 $200 $510

2-bedroom apartment monthly rent cost

560 BYN 840 BYN 2,200 BYN
MINIMUM AVERAGE MAXIMUM
$170 $260 $680

3-bedroom apartment monthly rent cost

670 BYN 1,100 BYN 3,000 BYN
MINIMUM AVERAGE MAXIMUM
$200 $340 $930

Furnished apartment monthly rent cost

1,300 BYN 3,300 BYN 6,700 BYN
MINIMUM AVERAGE MAXIMUM
$410 $1,000 $2,000

Townhouse monthly rent cost

1,100 BYN 1,700 BYN 4,800 BYN
MINIMUM AVERAGE MAXIMUM
$340 $510 $1,500

House monthly rent cost

1,300 BYN 3,300 BYN 6,700 BYN
MINIMUM AVERAGE MAXIMUM
$410 $1,000 $2,000

Villa monthly rent cost

1,700 BYN 4,200 BYN 6,700 BYN
MINIMUM AVERAGE MAXIMUM
$510 $1,300 $2,000

The monthly rental cost of a studio apartment in Minsk ranges between 280 BYN and 1,100 BYN, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 420 BYN to 1,700 BYN. Two-bedroom rentals rate ranges between 560 BYN and 2,200 BYN per month. The monthly rental for a three-bedroom apartment ranges from 670 BYN to 3,000 BYN. The average rent of a townhouse in Minsk is around 1,700 BYN while house rental costs can be as high as 3,300 BYN per month. Finally, if you want to rent a villa, expect to pay anywhere from 1,700 BYN to 6,700 BYN per month.



Apartment and house prices in Minsk

Cost of buying a property

Studio apartment price

56,000 BYN 84,000 BYN 170,000 BYN
MINIMUM AVERAGE MAXIMUM
$17,000 $26,000 $51,000

1-bedroom apartment price

67,000 BYN 110,000 BYN 420,000 BYN
MINIMUM AVERAGE MAXIMUM
$20,000 $34,000 $130,000

2-bedroom apartment price

110,000 BYN 330,000 BYN 670,000 BYN
MINIMUM AVERAGE MAXIMUM
$34,000 $100,000 $200,000

3-bedroom apartment price

370,000 BYN 560,000 BYN 1.7M BYN
MINIMUM AVERAGE MAXIMUM
$110,000 $170,000 $510,000

Townhouse price

480,000 BYN 1.1M BYN 4.2M BYN
MINIMUM AVERAGE MAXIMUM
$150,000 $340,000 $1.3M

House price

560,000 BYN 3.3M BYN 4.8M BYN
MINIMUM AVERAGE MAXIMUM
$170,000 $1M $1.5M

Villa price

670,000 BYN 3.7M BYN 5.6M BYN
MINIMUM AVERAGE MAXIMUM
$200,000 $1.1M $1.7M

The average price of a studio apartment in Minsk can range from 56,000 BYN to 170,000 BYN depending on location. One bedroom cost can be anywhere from 67,000 BYN to 420,000 BYN. A villa can cost you 3.7M BYN on average with prices ranging from 670,000 BYN to 5.6M BYN.


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


43 x125 monthly income 234
MINIMUM AVERAGE MAXIMUM

Property prices in Minsk can be x125 to x234 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x125 multiples of the average monthly salary in Minsk.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


24% 35% of income 47%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Minsk is around 35%. This means that people pay 35% of their income for rent. Those figures can range from 24% to 47% 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
32%

Property Taxes

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


FROM
2.2%
AVERAGE
3.2%
TO
4.2%

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.


5 BYN 65 BYN 650 BYN
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

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

Monthly costs and expenses of energy and basic utilities in Minsk

Utilities expenditure can vary slightly between different areas and locations.


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

Utility Bill Cost / Electricity + Water + Gas / Individual

19 BYN 140 BYN 900 BYN
MINIMUM AVERAGE MAXIMUM
$5.8 $42 $280

Utility Bill Cost / Electricity + Water + Gas / Couple

50 BYN 170 BYN 1,100 BYN
MINIMUM AVERAGE MAXIMUM
$15 $52 $340

Utility Bill Cost / Electricity + Water + Gas / Family

88 BYN 250 BYN 1,600 BYN
MINIMUM AVERAGE MAXIMUM
$27 $77 $500

Internet and cable cost

15 BYN 30 BYN 41 BYN
MINIMUM AVERAGE MAXIMUM
$4.7 $9.3 $12

Mobile phone bill and charges

12 BYN 20 BYN 61 BYN
MINIMUM AVERAGE MAXIMUM
$3.7 $6.2 $19

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 Minsk ranges between 19 BYN and 900 BYN with average being 140 BYN, meanwhile the expenditure of couples is slightly higher at 170 BYN with 50 BYN and 1,100 BYN 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 250 BYN. The cost of internet and WiFi is unchanged among the three groups and ranges from 15 BYN to 41 BYN with 30 BYN being the average internet bill. Finally, the average monthly mobile charges is around 20 BYN but can range between 12 BYN and 61 BYN depending on consumption. Mobile charges include both calling minutes as well as data packages.


Energy / Utility expense to income ratio


( monthly utility expenses / monthly income ) x 100


3.4% 6.8% of income 11%
MINIMUM AVERAGE MAXIMUM

The average utility-to-income ratio in Minsk is around 6.8%. This means that people pay 6.8% of their income for energy, water, internet, and mobile charges. Those figures can range from 3.4% to 11% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Minsk

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


Prices and cost of goods and services in Minsk

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

Fast food combo meal price

3 BYN 6.1 BYN 10 BYN
MINIMUM AVERAGE MAXIMUM
$0.93 $1.9 $3.1

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Minsk is approximatly 6.1 BYN with meal cost ranging from 3 BYN to 10 BYN. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

11 BYN 16 BYN 32 BYN
MINIMUM AVERAGE MAXIMUM
$3.3 $4.9 $9.8

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 11 BYN and 32 BYN with 16 BYN being the average price of a plate for one person at a regular restaurant in Minsk.

Fine dining meal for one price

21 BYN 32 BYN 130 BYN
MINIMUM AVERAGE MAXIMUM
$6.5 $9.8 $39

The price range of a meal at fine-dining restaurant is 21 BYN to 130 BYN with the average cost being 32 BYN for one person. This is what you would expect to pay a top-tier diner in Minsk.

Beverage prices, cappuccino, latte etc..

2.5 BYN 4.1 BYN 6.1 BYN
MINIMUM AVERAGE MAXIMUM
$0.78 $1.2 $1.9

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Minsk is around 4.1 BYN. Price ranges between 2.5 BYN and 6.1 BYN depending on the type of beverage, the size, and optional add-ons.



Grocery and market costs

Large bottle of milk price

2 BYN 2.4 BYN 3 BYN
MINIMUM AVERAGE MAXIMUM
$0.62 $0.75 $0.93

The average price of a large bottle of milk in Minsk is 2.4 BYN. The maximum what you would pay for milk is 3 BYN and the minimum being 2 BYN depending on the brand of milk and other properties.

12 eggs price

1.5 BYN 2 BYN 3 BYN
MINIMUM AVERAGE MAXIMUM
$0.47 $0.62 $0.93

A dozen eggs costs around 2 BYN on average with 1.5 BYN and 3 BYN being the lower and upper limits respectively.

Fresh whole chicken price

3.5 BYN 4.5 BYN 6.3 BYN
MINIMUM AVERAGE MAXIMUM
$1.1 $1.4 $1.9

The price range of a fresh whole chicken in Minsk is between 3.5 BYN and 6.3 BYN depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 4.5 BYN.

Pack of beef price

4.1 BYN 6.1 BYN 12 BYN
MINIMUM AVERAGE MAXIMUM
$1.2 $1.9 $3.7

The price of a regular pack of beef or meat is around 6.1 BYN. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

1.6 BYN 2.2 BYN 3.2 BYN
MINIMUM AVERAGE MAXIMUM
$0.50 $0.69 $0.97

A bag of rice in Minsk costs around 2.2 BYN on average with prices rangeing between 1.6 BYN and 3.2 BYN depending on the brand and quality.

Bag of tomatos price

0.61 BYN 0.81 BYN 1.5 BYN
MINIMUM AVERAGE MAXIMUM
$0.19 $0.25 $0.47

A bag of tomatoes costs anywhere from 0.61 BYN to 1.5 BYN. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

1.1 BYN 1.4 BYN 2.3 BYN
MINIMUM AVERAGE MAXIMUM
$0.33 $0.44 $0.72

A bag of apples costs 1.4 BYN 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


20% 30% of income 36%
MINIMUM AVERAGE MAXIMUM

The average grocery-to-income ratio in Minsk is around 30%. This means that people spend 30% of their income on grocery and basic household items. The expenditure can range from 20% to 36% depending on salary and location.


Expenditure on food and grocery for every population group

A single person living alone spends approximately 360 BYN per month on grocery and food with expenditure fluctuating between 51 BYN and 2,400 BYN depending on location and the type of person. The average cost of food and groceries for a couple is around 530 BYN per month. That number can be get as low as 180 BYN or a high as 2,800 BYN. Families' spending on grocery ranges from 320 BYN to 5,900 BYN with the location, income, and size of the family being the most determinite factors.


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

Housing cost for a single person31%

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

LOW$35   110 BYN
AVERAGE$250   810 BYN
HIGH$1,700   5,400 BYN
Per Month

Utilities, Electricity, Water, Internet, Mobile8%

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

LOW$5.8   19 BYN
AVERAGE$42   140 BYN
HIGH$280   900 BYN
Per Month

Transport and Fuel Cost5%

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

LOW$7.8   25 BYN
AVERAGE$55   180 BYN
HIGH$370   1,200 BYN
Per Month

Food and Groceries Cost19%

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

LOW$16   51 BYN
AVERAGE$110   360 BYN
HIGH$740   2,400 BYN
Per Month

Healthcare Cost12%

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

LOW$8.8   29 BYN
AVERAGE$62   200 BYN
HIGH$420   1,400 BYN
Per Month

Leisure and Shopping Expenditure3%

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

LOW$4.9   16 BYN
AVERAGE$35   110 BYN
HIGH$230   750 BYN
Per Month

Education Cost1%

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

LOW$1.9   6.4 BYN
AVERAGE$14   45 BYN
HIGH$92   300 BYN
Per Month

Other Expenses21%

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

LOW$18   57 BYN
AVERAGE$120   410 BYN
HIGH$830   2,700 BYN
Per Month


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

Housing cost for a couple28%

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

LOW$130   430 BYN
AVERAGE$390   1,300 BYN
HIGH$2,100   6,800 BYN
Per Month

Utilities, Electricity, Water, Internet, Mobile7%

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

LOW$15   50 BYN
AVERAGE$52   170 BYN
HIGH$340   1,100 BYN
Per Month

Transport and Fuel Cost9%

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

LOW$46   150 BYN
AVERAGE$140   450 BYN
HIGH$740   2,400 BYN
Per Month

Food and Groceries Cost17%

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

LOW$54   180 BYN
AVERAGE$160   530 BYN
HIGH$860   2,800 BYN
Per Month

Healthcare Cost14%

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

LOW$42   140 BYN
AVERAGE$130   410 BYN
HIGH$680   2,200 BYN
Per Month

Leisure and Shopping Cost4%

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

LOW$23   75 BYN
AVERAGE$69   230 BYN
HIGH$370   1,200 BYN
Per Month

Education Cost1%

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

LOW$7.7   25 BYN
AVERAGE$23   75 BYN
HIGH$120   400 BYN
Per Month

Other Expenses20%

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

LOW$65   210 BYN
AVERAGE$200   640 BYN
HIGH$1,000   3,400 BYN
Per Month


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

Housing cost for a family27%

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

LOW$170   560 BYN
AVERAGE$490   1,600 BYN
HIGH$3,200   10,000 BYN
Per Month

Utilities, Electricity, Water, Internet, Mobile5%

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

LOW$27   88 BYN
AVERAGE$77   250 BYN
HIGH$500   1,600 BYN
Per Month

Transport and Fuel Expenses5%

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

LOW$54   180 BYN
AVERAGE$150   500 BYN
HIGH$1,000   3,300 BYN
Per Month

Food and Groceries Cost21%

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

LOW$97   320 BYN
AVERAGE$280   900 BYN
HIGH$1,800   5,900 BYN
Per Month

Healthcare Expenses11%

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

LOW$48   160 BYN
AVERAGE$150   500 BYN
HIGH$800   2,600 BYN
Per Month

Leisure and Shopping Cost3%

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

LOW$27   88 BYN
AVERAGE$77   250 BYN
HIGH$500   1,600 BYN
Per Month

Education Cost13%

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

LOW$75   250 BYN
AVERAGE$220   700 BYN
HIGH$1,400   4,600 BYN
Per Month

Other Expenses15%

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

LOW$43   140 BYN
AVERAGE$120   400 BYN
HIGH$800   2,600 BYN
Per Month


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

Housing costs for Student19%

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

LOW$18   60 BYN
AVERAGE$120   400 BYN
HIGH$810   2,700 BYN
Per Month

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

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

LOW$3.1   10 BYN
AVERAGE$20   66 BYN
HIGH$140   440 BYN
Per Month

Transport and Fuel Cost4%

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

LOW$5.4   18 BYN
AVERAGE$36   120 BYN
HIGH$240   770 BYN
Per Month

Food and Groceries Expenditure23%

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

LOW$15   50 BYN
AVERAGE$100   330 BYN
HIGH$680   2,200 BYN
Per Month

Healthcare Cost9%

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

LOW$4.6   15 BYN
AVERAGE$31   100 BYN
HIGH$200   660 BYN
Per Month

Leisure and Shopping Cost3%

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

LOW$3.8   13 BYN
AVERAGE$25   83 BYN
HIGH$170   550 BYN
Per Month

Education Cost18%

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

LOW$15   48 BYN
AVERAGE$97   320 BYN
HIGH$640   2,100 BYN
Per Month

Other Expenses18%

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

LOW$12   38 BYN
AVERAGE$76   250 BYN
HIGH$510   1,700 BYN
Per Month
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