Cost Of Living in New Zealand 2024
Average monthly spending for singles, couples, students, and families in New Zealand
Whether you're living in New Zealand 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 Expenditure6,900 NZD
per month$4,200530 NZD $320
$42,000 69,000 NZD
Single4,800 NZD
per month$2,9001,600 NZD $970
$19,000 32,000 NZD
Couple7,900 NZD
per month$4,8002,600 NZD $1,600
$26,000 42,000 NZD
Family11,000 NZD
per month$6,4003,700 NZD $2,300
$35,000 58,000 NZD
Student3,400 NZD
per month$2,1001,400 NZD $820
$3,700 6,100 NZD
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in New Zealand is 4,800 NZD. Expenses can range from 1,600 NZD at the minimum level to 32,000 NZD at the highest end.
Couples
The average monthly spending of couples in New Zealand is 7,900 NZD. Expenditure can range from 2,600 NZD to 42,000 NZD per month.
Families
The average cost of living for families in New Zealand is 11,000 NZD per month. Families spend anywhere from 3,700 NZD to 58,000 NZD.
Students
The average monthly expenditure for students in New Zealand is 3,400 NZD. Students spend from 1,400 NZD to 6,100 NZD 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 New Zealand
Dining, food, and beverages costs
Large bottle of water
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
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
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
Average car 1-day rental
Average car price | 19,000 NZD | 38,000 NZD | 50,000 NZD |
Bus ticket one way
Car Service Utility cost (monthly)
Utility Bill - Individual
Utility Bill - Couple | 130 NZD | 400 NZD | 2,100 NZD |
Utility Bill - Family | 110 NZD | 320 NZD | 1,700 NZD |
Internet and cable
Mobile phone charges Leisure and activities costs
Movie ticket
One month gym membership Cloths and accessories costs
Pair of jeans or pants
Woman dress
Woman shoes
Men's shoes
Men suit
Regular t-shirt Housing costs / monthly rent
Studio apartment | 630 NZD | 940 NZD | 2,500 NZD |
1-bedroom apartment | 940 NZD | 1,500 NZD | 3,800 NZD |
2-bedroom apartment | 1,300 NZD | 1,900 NZD | 5,000 NZD |
Housing costs / Buying
Studio apartment | 130,000 NZD | 190,000 NZD | 380,000 NZD |
| $76,000 | $110,000 | $230,000 |
1-bedroom apartment | 150,000 NZD | 250,000 NZD | 940,000 NZD |
| $91,000 | $150,000 | $570,000 |
2-bedroom apartment | 250,000 NZD | 750,000 NZD | 1.5M NZD |
| $150,000 | $460,000 | $910,000 |
Furniture Costs
King Size Bed | 750 NZD | 940 NZD | 1,300 NZD |
Double Bed
Single Bed
Living Room | 830 NZD | 1,100 NZD | 3,800 NZD |
Dining Table
Sofa or Couch | 500 NZD | 680 NZD | 1,500 NZD |
Electronics and House Appliance Costs
TV Set | 500 NZD | 750 NZD | 1,500 NZD |
Fridge or Freezer
Washing Machine | 580 NZD | 830 NZD | 1,500 NZD |
Stove or Cooker
Mobile Phone | 630 NZD | 750 NZD | 1,100 NZD |
Laptop or Computer | 680 NZD | 830 NZD | 1,500 NZD |
Expenditure to Income Ratio in New Zealand
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
82%
73% to 91%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 7% |
| 50% - 60% | 13% |
| 60% - 70% | 19% |
| 70% - 80% | 27% |
| 80% - 90% | 13% |
| 90% - 100% | 8% |
| 100% - 110% | 5% |
| 110% - 120% | 3% |
| 120% - 130% | 2% |
| 130% - 140% | 1% |
| > 140% | 1% |
Interpretation and Analysis
The average spending-to-salary ratio in New Zealand is 82%
This means that on average, people spend around 82% of their income for living.
According to the distribution table, 19% 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
74%
Spending-Income-Ratio
66%
82%
Couple
78%
Spending-Income-Ratio
69%
87%
Family
86%
Spending-Income-Ratio
77%
96%
How do people spend their money in New Zealand?
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 Expenditure28%
28% of total expenses on average (17% to 36%)
| LOW | $97 160 NZD |
| AVERAGE | $1,300 2,100 NZD |
| HIGH | $13,000 21,000 NZD |
| Per Month |
People living in New Zealand typically spend from 17% to 36% of their total monthly expenditure on housing with 28% being the average. The average spend on housing is 2,100 NZD with expenditure ranging from 160 NZD to 21,000 NZD. 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, Water6%
6% of total expenses on average (3% to 10%)
| LOW | $16 26 NZD |
| AVERAGE | $210 340 NZD |
| HIGH | $2,100 3,400 NZD |
| Per Month |
Utility expenditure like electricity, water, and gas in New Zealand ranges from 3% to 10% of total expenses with 6% being the average. The average monthly cost of utilities is 340 NZD with 26 NZD and 3,400 NZD being the upper and lower limits.
Transport, Fuel, Commute9%
9% of total expenses on average (4% to 13%)
| LOW | $32 53 NZD |
| AVERAGE | $420 690 NZD |
| HIGH | $4,200 6,900 NZD |
| 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 53 NZD to 6,900 NZD on commuting with 690 NZD being the norm for most people in one month. This means that money spent on transport constitutes about 9% of total spending on average but can go as low as 4% or as high as 13%.
Food and Groceries Cost26%
26% of total expenses on average (18% to 32%)
| LOW | $80 130 NZD |
| AVERAGE | $1,000 1,700 NZD |
| HIGH | $10,000 17,000 NZD |
| Per Month |
The average outlay on groceries in a month in New Zealand is 1,700 NZD. The cost of groceries can range between 130 NZD to 17,000 NZD. People spend on average about 26% on food and groceries with upper and lower bounds of 18% and 32% respectively.
Healthcare and Medical Services8%
8% of total expenses on average (3% to 11%)
| LOW | $23 37 NZD |
| AVERAGE | $290 480 NZD |
| HIGH | $2,900 4,800 NZD |
| Per Month |
People in New Zealand allocate 3% to 11% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 8%. The range of medical expenses range from 37 NZD to 4,800 NZD with 480 NZD being the norm.
Leisure and Shopping6%
6% of total expenses on average (3% to 10%)
| LOW | $13 21 NZD |
| AVERAGE | $170 280 NZD |
| HIGH | $1,700 2,800 NZD |
| 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 21 NZD to 2,800 NZD with 280 NZD being the average. Speaking of percentages, that equates to 3% to 10% of total expenses with an average of 6% for most residents.
Education and Schooling6%
6% of total expenses on average (4% to 12%)
| LOW | $19 32 NZD |
| AVERAGE | $250 410 NZD |
| HIGH | $2,500 4,100 NZD |
| 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 6% of the monthly expenditure with 4% and 12% being the lower and upper bounds respectively. The average reported education cost is 410 NZD per month with 32 NZD being the minimum spent amount and 4,100 NZD being the maximum.
Other Expenses11%
11% of total expenses on average (6% to 18%)
| LOW | $42 69 NZD |
| AVERAGE | $540 890 NZD |
| HIGH | $5,400 8,900 NZD |
| Per Month |
How much money can you save in New Zealand 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 New Zealand manage to save money from their income every month?
Almost 71% of the surveyed people in New Zealand said that they can save some money at the end of each month while 29% said that aren't saving anything.
Percentage of people saving money by population group in New Zealand
| Group | Savers | Non Savers |
|---|
| Singles | 74% | 27% |
| Couples | 69% | 32% |
| Families | 64% | 37% |
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
220 NZD
$130 | 2,900 NZD
$1,700 | 29,000 NZD
$17,000 |
For most people, 12% to 32% of their monthly income is what they can allocate to their savings, with 21% being the average. The amount of money that people can save is approximately 2,900 NZD on average with savings ranging from 220 NZD to 29,000 NZD.
74% of surveyed singles reported some of their income going to savings while 69% of couples said the same. 64% of families confirmed their ability to save money.
How much money do people actually save in New Zealand?
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
660 NZD
$400 | 2,000 NZD
$1,200 | 13,000 NZD
$8,100 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 28% |
| 10% - 20% | 22% |
| 20% - 30% | 16% |
| 30% - 40% | 17% |
| 40% - 50% | 13% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 15% to 34% of their monthly income to savings, with 25% being the average for most singles. The average amount of money that singles are able to save is 2,000 NZD with 660 NZD and 13,000 NZD being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
1,100 NZD
$670 | 3,300 NZD
$2,000 | 18,000 NZD
$11,000 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 32% |
| 10% - 20% | 24% |
| 20% - 30% | 19% |
| 30% - 40% | 12% |
| 40% - 50% | 10% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 13% to 33% of their monthly income, with 23% being the average for most couples. The average amount of money that couples can save is 3,300 NZD with 1,100 NZD and 18,000 NZD being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
1,500 NZD
$940 | 4,400 NZD
$2,700 | 24,000 NZD
$15,000 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 35% |
| 10% - 20% | 27% |
| 20% - 30% | 20% |
| 30% - 40% | 9% |
| 40% - 50% | 7% |
| > 50% | 2% |
Interpretation and Analysis
Families in New Zealand can save anywhere between 11% to 30% of their monthly income, with 19% being the average for most families. The average amount of money that families can put aside is 4,400 NZD with 1,500 NZD and 24,000 NZD 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 New Zealand
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in New Zealand?
Around 81% of surveyed residents think that living in New Zealand is affordable with proper budgeting while 19% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in New Zealand
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 options63%
Few low-cost options37%
Based on the survey, 63% of the people living in New Zealand have no problem finding low-cost alternatives to support a frugal lifestyle while 37% 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 New Zealand whether they have an emergency fund and the answers were as follows.
Yes80%
No20%
Based on the survey, 20% of the people living in New Zealand said that they don't have an emergency fund while 80% said that they do.
Financial Literacy in New Zealand
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 Leteracy76%
We asked residents of New Zealand whether they acquired any adequate personal financial training in their lives. Approximately 24% 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 76% 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 New Zealand have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 18% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 82% said that they have everything under control.
Struggles with finance18%
Easily manages finances82%
Financial goals of people in New Zealand
In an attempt to understand the economic situation in New Zealand, 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 | 6% |
| Debt Reduction | 28% |
| Retirement Savings | 6% |
| Education Funding | 9% |
| Homeownership | 16% |
| Investing | 10% |
| Travel or Lifestyle | 13% |
| Healthcare Expenses | 7% |
| Financial Independence | 10% |
Around 6% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 28% said their number one priority is to pay off high-interest debt or loans and improve credit. 6% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 9% reported that their priority is saving for the tuition fees and education costs of their children while 16% choose to buy a home or pay off existing mortgage before other things. 10% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 13% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 7% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Saving Challenges in New Zealand
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in New Zealand. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 7% |
| High Expenses | 10% |
| Debt and Loans | 20% |
| Lack of Budgeting Skills | 10% |
| Impulsive Spending | 8% |
| Financial Emergencies | 6% |
| Living the moment | 7% |
| Will do it later | 15% |
| Inflation | 9% |
| Social Pressure | 4% |
| Market Instability | 3% |
Around 7% of the people said that their salary is too low to accommodate a portion for savings while 10% said that the high cost of living leaves little room for savings. 20% of the residents said that they are burdened with debt and find it challenging to save money. 10% 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. 8% blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 7% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 15% 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. 9% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 4% said that social pressure and keeping up with peers or societal expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.
Typical saving choices for people in New Zealand
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 10% |
| Gold | 9% |
| Savings Accounts | 18% |
| Retirement Accounts | 12% |
| Cash Savings | 14% |
| Real Estate | 10% |
| Investment | 6% |
| Stocks | 7% |
| Bonds | 7% |
| Mutual Funds | 3% |
| Certificates of Deposit | 4% |
Retirement, pension plans, and life after work in New Zealand
What does the retirement lifestyle look like in New Zealand and how much retirement savings are required?
Retirement age
The retirement age for most employees in New Zealand 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 New Zealand:| Age | Amount |
|---|
| 25 | 20,000 NZD |
| 30 | 39,000 NZD |
| 35 | 68,000 NZD |
| 40 | 98,000 NZD |
| 45 | 150,000 NZD |
| 50 | 200,000 NZD |
| 55 | 240,000 NZD |
| 60 | 300,000 NZD |
| 65 | 360,000 NZD |
Retirement Income Distribution
We asked residents of New Zealand about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 14% |
| Savings | 21% |
| Investments | 14% |
| Social Security | 9% |
| Annuities | 9% |
| Part-time Job | 8% |
| Real Estate | 16% |
| Dividends and Interest | 9% |
Retirement Monthly Expenses in New Zealand 1,100 NZD
$690 | 3,400 NZD
$2,100 | 23,000 NZD
$14,000 |
Debt, loans, and mortgages in New Zealand
Percentage of people who are in debt
According to the survey, 23% of the people in New Zealand have some kind of debt, loan, mortgage, or credit card payments while 77% reported that they don't have financial obligations to banks.
Debt-to-income ratio in New Zealand
Debt to income ratio
27%
17% to 36%
( 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 27% of the people's monthly income in New Zealand goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 2% |
| 50% - 60% | 8% |
| 40% - 50% | 10% |
| 30% - 40% | 12% |
| 20% - 30% | 17% |
| 10% - 20% | 22% |
| 0% - 10% | 29% |
According to our data, 2% of the debtors in New Zealand pay 60%+ of their income as debt settlement while 8% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 10% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 12% dedicated 30% to 40% of income for same. Things are looking brighter for 17% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in New Zealand
| Debt | % People |
|---|
| Real Estate Mortgage | 15% |
| Auto Loan | 26% |
| Student Loan | 3% |
| Credit Card | 23% |
| Personal Loan | 33% |
15% of debtors in New Zealand confirm that real estate mortgages constitutes the main part of their outstanding debt while 23% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 26% of people and personal loans rose at 33%. Lastly, student loans are the main source of debt for 3% of debtors in New Zealand.
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 New Zealand
Besides measuring the loan-to-income ratio, we asked residents of New Zealand 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 | 57% |
| Once a year | 21% |
| Twice a year | 11% |
| Three times a year | 8% |
| Four times a year | 3% |
Housing costs, accommodation, and housing affordability in New Zealand
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in New Zealand
Monthly Rent Prices
Studio apartment | 630 NZD | 940 NZD | 2,500 NZD |
1-bedroom apartment | 940 NZD | 1,500 NZD | 3,800 NZD |
2-bedroom apartment | 1,300 NZD | 1,900 NZD | 5,000 NZD |
3-bedroom apartment | 1,500 NZD | 2,500 NZD | 6,800 NZD |
Furnished apartment | 3,000 NZD | 7,500 NZD | 15,000 NZD |
Townhouse | 2,500 NZD | 3,800 NZD | 11,000 NZD |
House | 3,000 NZD | 7,500 NZD | 15,000 NZD |
Villa | 3,800 NZD | 9,400 NZD | 15,000 NZD |
The monthly rental cost of a studio apartment in New Zealand ranges between 630 NZD and 2,500 NZD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 940 NZD to 3,800 NZD. Two-bedroom rentals rate ranges between 1,300 NZD and 5,000 NZD per month. The monthly rental for a three-bedroom apartment ranges from 1,500 NZD to 6,800 NZD. The average rent of a townhouse in New Zealand is around 3,800 NZD while house rental costs can be as high as 7,500 NZD per month. Finally, if you want to rent a villa, expect to pay anywhere from 3,800 NZD to 15,000 NZD per month.
Apartment and house prices in New Zealand
Cost of buying a property
Studio apartment | 130,000 NZD | 190,000 NZD | 380,000 NZD |
| $76,000 | $110,000 | $230,000 |
1-bedroom apartment | 150,000 NZD | 250,000 NZD | 940,000 NZD |
| $91,000 | $150,000 | $570,000 |
2-bedroom apartment | 250,000 NZD | 750,000 NZD | 1.5M NZD |
| $150,000 | $460,000 | $910,000 |
3-bedroom apartment | 830,000 NZD | 1.3M NZD | 3.8M NZD |
Townhouse | 1.1M NZD | 2.5M NZD | 9.4M NZD |
House | 1.3M NZD | 7.5M NZD | 11M NZD |
Villa | 1.5M NZD | 8.3M NZD | 13M NZD |
The average price of a studio apartment in New Zealand can range from 130,000 NZD to 380,000 NZD depending on location. One bedroom cost can be anywhere from 150,000 NZD to 940,000 NZD. A villa can cost you 8.3M NZD on average with prices ranging from 1.5M NZD to 13M NZD.
If you're leasing or purchasing, housing costs in New Zealand 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
| 45 | x133 monthly income | 220 |
Property prices in New Zealand can be x133 to x220 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x133 multiples of the average monthly salary in New Zealand.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in New Zealand is around 33%. This means that people pay 33% of their income for rent. Those figures can range from 23% to 43% 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.
Home Maintenance Costs
Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.
Urban vs. rural living costs
Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in New Zealand
Housing34%
34% of total expenses on average (22% to 46%)
| LOW | $350 570 NZD |
| AVERAGE | $1,000 1,700 NZD |
| HIGH | $6,900 11,000 NZD |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (3% to 12%)
| LOW | $58 95 NZD |
| AVERAGE | $170 290 NZD |
| HIGH | $1,200 1,900 NZD |
| Per Month |
Transport, Fuel7%
7% of total expenses on average (5% to 13%)
| LOW | $77 130 NZD |
| AVERAGE | $230 380 NZD |
| HIGH | $1,500 2,500 NZD |
| Per Month |
Food and Groceries17%
17% of total expenses on average (11% to 22%)
| LOW | $150 250 NZD |
| AVERAGE | $460 760 NZD |
| HIGH | $3,100 5,100 NZD |
| Per Month |
Healthcare10%
10% of total expenses on average (4% to 14%)
| LOW | $87 140 NZD |
| AVERAGE | $260 430 NZD |
| HIGH | $1,700 2,900 NZD |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (3% to 7%)
| LOW | $48 79 NZD |
| AVERAGE | $140 240 NZD |
| HIGH | $970 1,600 NZD |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $19 32 NZD |
| AVERAGE | $58 95 NZD |
| HIGH | $390 640 NZD |
| Per Month |
Other Expenses19%
19% of total expenses on average (11% to 23%)
| LOW | $170 290 NZD |
| AVERAGE | $520 860 NZD |
| HIGH | $3,500 5,700 NZD |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in New Zealand
Housing31%
31% of total expenses on average (24% to 41%)
| LOW | $530 870 NZD |
| AVERAGE | $1,600 2,600 NZD |
| HIGH | $8,500 14,000 NZD |
| Per Month |
Utilities, Electricity, Water6%
6% of total expenses on average (4% to 10%)
| LOW | $80 130 NZD |
| AVERAGE | $240 400 NZD |
| HIGH | $1,300 2,100 NZD |
| Per Month |
Transport, Fuel11%
11% of total expenses on average (5% to 16%)
| LOW | $190 320 NZD |
| AVERAGE | $580 950 NZD |
| HIGH | $3,100 5,100 NZD |
| Per Month |
Food and Groceries15%
15% of total expenses on average (10% to 20%)
| LOW | $230 370 NZD |
| AVERAGE | $680 1,100 NZD |
| HIGH | $3,600 5,900 NZD |
| Per Month |
Healthcare12%
12% of total expenses on average (6% to 16%)
| LOW | $180 290 NZD |
| AVERAGE | $530 870 NZD |
| HIGH | $2,800 4,700 NZD |
| Per Month |
Leisure, Shopping5%
5% of total expenses on average (2% to 8%)
| LOW | $97 160 NZD |
| AVERAGE | $290 480 NZD |
| HIGH | $1,500 2,500 NZD |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $32 53 NZD |
| AVERAGE | $97 160 NZD |
| HIGH | $510 850 NZD |
| Per Month |
Other Expenses18%
18% of total expenses on average (12% to 24%)
| LOW | $270 450 NZD |
| AVERAGE | $820 1,300 NZD |
| HIGH | $4,400 7,200 NZD |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in New Zealand
Housing30%
30% of total expenses on average (25% to 40%)
| LOW | $720 1,200 NZD |
| AVERAGE | $2,100 3,400 NZD |
| HIGH | $11,000 19,000 NZD |
| Per Month |
Transport, Fuel7%
7% of total expenses on average (5% to 9%)
| LOW | $180 300 NZD |
| AVERAGE | $510 850 NZD |
| HIGH | $2,800 4,700 NZD |
| Per Month |
Food and Groceries19%
19% of total expenses on average (12% to 25%)
| LOW | $410 670 NZD |
| AVERAGE | $1,200 1,900 NZD |
| HIGH | $6,400 10,000 NZD |
| Per Month |
Healthcare9%
9% of total expenses on average (5% to 14%)
| LOW | $180 300 NZD |
| AVERAGE | $510 850 NZD |
| HIGH | $2,800 4,700 NZD |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $110 190 NZD |
| AVERAGE | $320 530 NZD |
| HIGH | $1,800 2,900 NZD |
| Per Month |
Education14%
14% of total expenses on average (7% to 22%)
| LOW | $320 520 NZD |
| AVERAGE | $900 1,500 NZD |
| HIGH | $5,000 8,100 NZD |
| Per Month |
Other Expenses13%
13% of total expenses on average (6% to 18%)
| LOW | $270 440 NZD |
| AVERAGE | $770 1,300 NZD |
| HIGH | $4,200 7,000 NZD |
| Per Month |
StudentCost of living and expenses break down for students living in New Zealand
Housing22%
22% of total expenses on average (17% to 28%)
| LOW | $200 320 NZD |
| AVERAGE | $490 810 NZD |
| HIGH | $890 1,500 NZD |
| Per Month |
Utilities, Electricity, Water5%
5% of total expenses on average (3% to 9%)
| LOW | $33 54 NZD |
| AVERAGE | $82 140 NZD |
| HIGH | $150 240 NZD |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (5% to 12%)
| LOW | $57 95 NZD |
| AVERAGE | $140 240 NZD |
| HIGH | $260 430 NZD |
| Per Month |
Food and Groceries21%
21% of total expenses on average (15% to 25%)
| LOW | $160 270 NZD |
| AVERAGE | $410 680 NZD |
| HIGH | $740 1,200 NZD |
| Per Month |
Healthcare7%
7% of total expenses on average (4% to 10%)
| LOW | $49 81 NZD |
| AVERAGE | $120 200 NZD |
| HIGH | $220 360 NZD |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (3% to 8%)
| LOW | $41 68 NZD |
| AVERAGE | $100 170 NZD |
| HIGH | $180 300 NZD |
| Per Month |
Education19%
19% of total expenses on average (12% to 24%)
| LOW | $160 260 NZD |
| AVERAGE | $390 640 NZD |
| HIGH | $700 1,200 NZD |
| Per Month |
Other Expenses16%
16% of total expenses on average (10% to 22%)
| LOW | $120 200 NZD |
| AVERAGE | $310 510 NZD |
| HIGH | $550 910 NZD |
| Per Month |
