Cost Of Living in Rio de Janeiro 2024
Average monthly spending for singles, couples, students, and families in Rio de Janeiro
Whether you're living in Rio de Janeiro 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 Expenditure16,000 BRL
per month$3,3001,300 BRL $260
$33,000 160,000 BRL
Single11,000 BRL
per month$2,3003,800 BRL $770
$15,000 76,000 BRL
Couple19,000 BRL
per month$3,8006,300 BRL $1,300
$20,000 100,000 BRL
Family25,000 BRL
per month$5,1008,900 BRL $1,800
$28,000 140,000 BRL
Student7,800 BRL
per month$1,6003,100 BRL $630
$2,800 14,000 BRL
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Rio de Janeiro is 11,000 BRL. Expenses can range from 3,800 BRL at the minimum level to 76,000 BRL at the highest end.
Couples
The average monthly spending of couples in Rio de Janeiro is 19,000 BRL. Expenditure can range from 6,300 BRL to 100,000 BRL per month.
Families
The average cost of living for families in Rio de Janeiro is 25,000 BRL per month. Families spend anywhere from 8,900 BRL to 140,000 BRL.
Students
The average monthly expenditure for students in Rio de Janeiro is 7,800 BRL. Students spend from 3,100 BRL to 14,000 BRL 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 Rio de Janeiro
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 | 39,000 BRL | 78,000 BRL | 100,000 BRL |
Bus ticket one way
Car Service Utility cost (monthly)
Utility Bill - Individual | 230 BRL | 690 BRL | 4,600 BRL |
Utility Bill - Couple | 320 BRL | 950 BRL | 5,100 BRL |
Utility Bill - Family | 270 BRL | 760 BRL | 4,200 BRL |
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 | 1,400 BRL | 2,200 BRL | 5,800 BRL |
1-bedroom apartment | 2,200 BRL | 3,500 BRL | 8,700 BRL |
2-bedroom apartment | 2,900 BRL | 4,300 BRL | 12,000 BRL |
Housing costs / Buying
Studio apartment | 290,000 BRL | 430,000 BRL | 870,000 BRL |
1-bedroom apartment | 350,000 BRL | 580,000 BRL | 2.2M BRL |
| $70,000 | $120,000 | $440,000 |
2-bedroom apartment | 580,000 BRL | 1.7M BRL | 3.5M BRL |
| $120,000 | $350,000 | $700,000 |
Furniture Costs
King Size Bed | 1,600 BRL | 1,900 BRL | 2,600 BRL |
Double Bed | 1,000 BRL | 1,600 BRL | 1,900 BRL |
Single Bed | 910 BRL | 1,200 BRL | 1,600 BRL |
Living Room | 1,700 BRL | 2,200 BRL | 7,800 BRL |
Dining Table | 780 BRL | 1,000 BRL | 1,900 BRL |
Sofa or Couch | 1,000 BRL | 1,400 BRL | 3,100 BRL |
Electronics and House Appliance Costs
TV Set | 1,000 BRL | 1,600 BRL | 3,100 BRL |
Fridge or Freezer | 910 BRL | 1,400 BRL | 1,900 BRL |
Washing Machine | 1,200 BRL | 1,700 BRL | 3,100 BRL |
Stove or Cooker | 1,100 BRL | 1,400 BRL | 1,900 BRL |
Mobile Phone | 1,300 BRL | 1,600 BRL | 2,200 BRL |
Laptop or Computer | 1,400 BRL | 1,700 BRL | 3,100 BRL |
Expenditure to Income Ratio in Rio de Janeiro
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
96%
86% to 110%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 6% |
| 50% - 60% | 11% |
| 60% - 70% | 17% |
| 70% - 80% | 26% |
| 80% - 90% | 17% |
| 90% - 100% | 9% |
| 100% - 110% | 5% |
| 110% - 120% | 3% |
| 120% - 130% | 2% |
| 130% - 140% | 2% |
| > 140% | 1% |
Interpretation and Analysis
The average spending-to-salary ratio in Rio de Janeiro is 96%
This means that on average, people spend around 96% of their income for living.
According to the distribution table, 17% 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
77%
96%
Couple
91%
Spending-Income-Ratio
81%
100%
Family
100%
Spending-Income-Ratio
90%
110%
How do people spend their money in Rio de Janeiro?
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 Expenditure26%
26% of total expenses on average (15% to 34%)
| LOW | $77 380 BRL |
| AVERAGE | $1,000 4,900 BRL |
| HIGH | $10,000 49,000 BRL |
| Per Month |
People living in Rio de Janeiro typically spend from 15% to 34% of their total monthly expenditure on housing with 26% being the average. The average spend on housing is 4,900 BRL with expenditure ranging from 380 BRL to 49,000 BRL. 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, Water7%
7% of total expenses on average (4% to 11%)
| LOW | $13 63 BRL |
| AVERAGE | $170 820 BRL |
| HIGH | $1,700 8,200 BRL |
| Per Month |
Utility expenditure like electricity, water, and gas in Rio de Janeiro ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 820 BRL with 63 BRL and 8,200 BRL being the upper and lower limits.
Transport, Fuel, Commute8%
8% of total expenses on average (4% to 12%)
| LOW | $26 130 BRL |
| AVERAGE | $330 1,600 BRL |
| HIGH | $3,300 16,000 BRL |
| 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 130 BRL to 16,000 BRL on commuting with 1,600 BRL being the norm for most people in one month. This means that money spent on transport constitutes about 8% of total spending on average but can go as low as 4% or as high as 12%.
Food and Groceries Cost27%
27% of total expenses on average (19% to 33%)
| LOW | $64 320 BRL |
| AVERAGE | $830 4,100 BRL |
| HIGH | $8,300 41,000 BRL |
| Per Month |
The average outlay on groceries in a month in Rio de Janeiro is 4,100 BRL. The cost of groceries can range between 320 BRL to 41,000 BRL. People spend on average about 27% on food and groceries with upper and lower bounds of 19% and 33% respectively.
Healthcare and Medical Services9%
9% of total expenses on average (4% to 12%)
| LOW | $18 89 BRL |
| AVERAGE | $230 1,200 BRL |
| HIGH | $2,300 12,000 BRL |
| Per Month |
People in Rio de Janeiro allocate 4% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 9%. The range of medical expenses range from 89 BRL to 12,000 BRL with 1,200 BRL being the norm.
Leisure and Shopping5%
5% of total expenses on average (3% to 9%)
| LOW | $10 51 BRL |
| AVERAGE | $130 660 BRL |
| HIGH | $1,300 6,600 BRL |
| 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 51 BRL to 6,600 BRL with 660 BRL being the average. Speaking of percentages, that equates to 3% to 9% of total expenses with an average of 5% for most residents.
Education and Schooling6%
6% of total expenses on average (4% to 12%)
| LOW | $15 76 BRL |
| AVERAGE | $200 990 BRL |
| HIGH | $2,000 9,900 BRL |
| 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 990 BRL per month with 76 BRL being the minimum spent amount and 9,900 BRL being the maximum.
Other Expenses12%
12% of total expenses on average (7% to 19%)
| LOW | $33 160 BRL |
| AVERAGE | $430 2,100 BRL |
| HIGH | $4,300 21,000 BRL |
| Per Month |
How much money can you save in Rio de Janeiro 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 Rio de Janeiro manage to save money from their income every month?
Almost 77% of the surveyed people in Rio de Janeiro said that they can save some money at the end of each month while 23% said that aren't saving anything.
Percentage of people saving money by population group in Rio de Janeiro
| Group | Savers | Non Savers |
|---|
| Singles | 77% | 23% |
| Couples | 72% | 28% |
| Families | 66% | 34% |
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
460 BRL
$94 | 6,000 BRL
$1,200 | 60,000 BRL
$12,000 |
For most people, 15% to 38% of their monthly income is what they can allocate to their savings, with 25% being the average. The amount of money that people can save is approximately 6,000 BRL on average with savings ranging from 460 BRL to 60,000 BRL.
77% of surveyed singles reported some of their income going to savings while 72% of couples said the same. 66% of families confirmed their ability to save money.
How much money do people actually save in Rio de Janeiro?
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
1,400 BRL
$280 | 4,200 BRL
$840 | 28,000 BRL
$5,600 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 29% |
| 10% - 20% | 23% |
| 20% - 30% | 16% |
| 30% - 40% | 16% |
| 40% - 50% | 12% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 19% to 40% of their monthly income to savings, with 30% being the average for most singles. The average amount of money that singles are able to save is 4,200 BRL with 1,400 BRL and 28,000 BRL being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
2,300 BRL
$470 | 7,000 BRL
$1,400 | 37,000 BRL
$7,500 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 33% |
| 10% - 20% | 25% |
| 20% - 30% | 19% |
| 30% - 40% | 11% |
| 40% - 50% | 9% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 16% to 39% of their monthly income, with 28% being the average for most couples. The average amount of money that couples can save is 7,000 BRL with 2,300 BRL and 37,000 BRL being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
3,200 BRL
$650 | 9,300 BRL
$1,900 | 51,000 BRL
$10,000 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 36% |
| 10% - 20% | 28% |
| 20% - 30% | 20% |
| 30% - 40% | 8% |
| 40% - 50% | 6% |
| > 50% | 2% |
Interpretation and Analysis
Families in Rio de Janeiro can save anywhere between 14% to 35% of their monthly income, with 23% being the average for most families. The average amount of money that families can put aside is 9,300 BRL with 3,200 BRL and 51,000 BRL 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 Rio de Janeiro
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Rio de Janeiro?
Around 80% of surveyed residents think that living in Rio de Janeiro is affordable with proper budgeting while 20% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Rio de Janeiro
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 options71%
Few low-cost options30%
Based on the survey, 71% of the people living in Rio de Janeiro have no problem finding low-cost alternatives to support a frugal lifestyle while 30% 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 Rio de Janeiro whether they have an emergency fund and the answers were as follows.
Yes80%
No20%
Based on the survey, 20% of the people living in Rio de Janeiro said that they don't have an emergency fund while 80% said that they do.
Financial Literacy in Brazil
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 Leteracy64%
We asked residents of Brazil whether they acquired any adequate personal financial training in their lives. Approximately 36% 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 64% 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 Brazil have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 26% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 74% said that they have everything under control.
Struggles with finance26%
Easily manages finances74%
Financial goals of people in Rio de Janeiro
In an attempt to understand the economic situation in Rio de Janeiro, 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 | 7% |
| Debt Reduction | 35% |
| Retirement Savings | 8% |
| Education Funding | 8% |
| Homeownership | 17% |
| Investing | 8% |
| Travel or Lifestyle | 10% |
| Healthcare Expenses | 10% |
| Financial Independence | 8% |
Around 7% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 35% said their number one priority is to pay off high-interest debt or loans and improve credit. 8% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 8% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 10% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 10% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Saving Challenges in Rio de Janeiro
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Rio de Janeiro. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 6% |
| High Expenses | 9% |
| Debt and Loans | 17% |
| Lack of Budgeting Skills | 11% |
| Impulsive Spending | 10% |
| Financial Emergencies | 6% |
| Living the moment | 6% |
| Will do it later | 18% |
| Inflation | 11% |
| Social Pressure | 3% |
| Market Instability | 3% |
Around 6% of the people said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 17% 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. 10% 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. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 18% 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. 11% 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, 3% blamed market instability and price fluctuations.
Typical saving choices for people in Rio de Janeiro
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 11% |
| Gold | 11% |
| Savings Accounts | 17% |
| Retirement Accounts | 11% |
| Cash Savings | 17% |
| Real Estate | 10% |
| Investment | 6% |
| Stocks | 6% |
| Bonds | 6% |
| Mutual Funds | 3% |
| Certificates of Deposit | 3% |
Retirement, pension plans, and life after work in Rio de Janeiro
What does the retirement lifestyle look like in Rio de Janeiro and how much retirement savings are required?
Retirement age
The retirement age for most employees in Brazil 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 Rio de Janeiro:| Age | Amount |
|---|
| 25 | 45,000 BRL |
| 30 | 90,000 BRL |
| 35 | 160,000 BRL |
| 40 | 230,000 BRL |
| 45 | 340,000 BRL |
| 50 | 470,000 BRL |
| 55 | 560,000 BRL |
| 60 | 700,000 BRL |
| 65 | 830,000 BRL |
Retirement Income Distribution
We asked residents of Rio de Janeiro about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 13% |
| Savings | 22% |
| Investments | 13% |
| Social Security | 8% |
| Annuities | 8% |
| Part-time Job | 11% |
| Real Estate | 17% |
| Dividends and Interest | 8% |
Retirement Monthly Expenses in Rio de Janeiro 2,800 BRL
$560 | 8,300 BRL
$1,700 | 55,000 BRL
$11,000 |
Debt, loans, and mortgages in Rio de Janeiro
Percentage of people who are in debt
According to the survey, 27% of the people in Rio de Janeiro have some kind of debt, loan, mortgage, or credit card payments while 73% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Rio de Janeiro
Debt to income ratio
32%
22% 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 32% of the people's monthly income in Rio de Janeiro goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 13% |
| 40% - 50% | 12% |
| 30% - 40% | 14% |
| 20% - 30% | 14% |
| 10% - 20% | 17% |
| 0% - 10% | 27% |
According to our data, 3% of the debtors in Rio de Janeiro pay 60%+ of their income as debt settlement while 13% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 12% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 14% dedicated 30% to 40% of income for same. Things are looking brighter for 14% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Rio de Janeiro
| Debt | % People |
|---|
| Real Estate Mortgage | 12% |
| Auto Loan | 21% |
| Student Loan | 3% |
| Credit Card | 26% |
| Personal Loan | 38% |
12% of debtors in Rio de Janeiro confirm that real estate mortgages constitutes the main part of their outstanding debt while 26% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 21% of people and personal loans rose at 38%. Lastly, student loans are the main source of debt for 3% of debtors in Rio de Janeiro.
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 Rio de Janeiro
Besides measuring the loan-to-income ratio, we asked residents of Rio de Janeiro 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 | 54% |
| Once a year | 22% |
| Twice a year | 12% |
| Three times a year | 8% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Rio de Janeiro
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Rio de Janeiro
Monthly Rent Prices
Studio apartment | 1,400 BRL | 2,200 BRL | 5,800 BRL |
1-bedroom apartment | 2,200 BRL | 3,500 BRL | 8,700 BRL |
2-bedroom apartment | 2,900 BRL | 4,300 BRL | 12,000 BRL |
3-bedroom apartment | 3,500 BRL | 5,800 BRL | 16,000 BRL |
Furnished apartment | 6,900 BRL | 17,000 BRL | 35,000 BRL |
Townhouse | 5,800 BRL | 8,700 BRL | 25,000 BRL |
House | 6,900 BRL | 17,000 BRL | 35,000 BRL |
Villa | 8,700 BRL | 22,000 BRL | 35,000 BRL |
The monthly rental cost of a studio apartment in Rio de Janeiro ranges between 1,400 BRL and 5,800 BRL, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 2,200 BRL to 8,700 BRL. Two-bedroom rentals rate ranges between 2,900 BRL and 12,000 BRL per month. The monthly rental for a three-bedroom apartment ranges from 3,500 BRL to 16,000 BRL. The average rent of a townhouse in Rio de Janeiro is around 8,700 BRL while house rental costs can be as high as 17,000 BRL per month. Finally, if you want to rent a villa, expect to pay anywhere from 8,700 BRL to 35,000 BRL per month.
Apartment and house prices in Rio de Janeiro
Cost of buying a property
Studio apartment | 290,000 BRL | 430,000 BRL | 870,000 BRL |
1-bedroom apartment | 350,000 BRL | 580,000 BRL | 2.2M BRL |
| $70,000 | $120,000 | $440,000 |
2-bedroom apartment | 580,000 BRL | 1.7M BRL | 3.5M BRL |
| $120,000 | $350,000 | $700,000 |
3-bedroom apartment | 1.9M BRL | 2.9M BRL | 8.7M BRL |
Townhouse | 2.5M BRL | 5.8M BRL | 22M BRL |
House
Villa The average price of a studio apartment in Rio de Janeiro can range from 290,000 BRL to 870,000 BRL depending on location. One bedroom cost can be anywhere from 350,000 BRL to 2.2M BRL. A villa can cost you 19M BRL on average with prices ranging from 3.5M BRL to 29M BRL.
If you're leasing or purchasing, housing costs in Rio de Janeiro 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
| 50 | x144 monthly income | 248 |
Property prices in Rio de Janeiro can be x144 to x248 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x144 multiples of the average monthly salary in Rio de Janeiro.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Rio de Janeiro is around 38%. This means that people pay 38% of their income for rent. Those figures can range from 27% to 50% 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
35% 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 Rio de Janeiro
Housing32%
32% of total expenses on average (20% to 44%)
| LOW | $280 1,400 BRL |
| AVERAGE | $830 4,100 BRL |
| HIGH | $5,500 27,000 BRL |
| Per Month |
Utilities, Electricity, Water8%
8% of total expenses on average (4% to 13%)
| LOW | $46 230 BRL |
| AVERAGE | $140 690 BRL |
| HIGH | $920 4,600 BRL |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 12%)
| LOW | $61 300 BRL |
| AVERAGE | $180 910 BRL |
| HIGH | $1,200 6,100 BRL |
| Per Month |
Food and Groceries18%
18% of total expenses on average (12% to 23%)
| LOW | $120 610 BRL |
| AVERAGE | $370 1,800 BRL |
| HIGH | $2,500 12,000 BRL |
| Per Month |
Healthcare11%
11% of total expenses on average (5% to 15%)
| LOW | $69 340 BRL |
| AVERAGE | $210 1,000 BRL |
| HIGH | $1,400 6,900 BRL |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (3% to 6%)
| LOW | $38 190 BRL |
| AVERAGE | $120 570 BRL |
| HIGH | $770 3,800 BRL |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $15 76 BRL |
| AVERAGE | $46 230 BRL |
| HIGH | $310 1,500 BRL |
| Per Month |
Other Expenses20%
20% of total expenses on average (12% to 24%)
| LOW | $140 690 BRL |
| AVERAGE | $410 2,100 BRL |
| HIGH | $2,800 14,000 BRL |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Rio de Janeiro
Housing29%
29% of total expenses on average (22% to 39%)
| LOW | $420 2,100 BRL |
| AVERAGE | $1,300 6,300 BRL |
| HIGH | $6,800 33,000 BRL |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (5% to 11%)
| LOW | $64 320 BRL |
| AVERAGE | $190 950 BRL |
| HIGH | $1,000 5,100 BRL |
| Per Month |
Transport, Fuel10%
10% of total expenses on average (4% to 15%)
| LOW | $150 760 BRL |
| AVERAGE | $460 2,300 BRL |
| HIGH | $2,500 12,000 BRL |
| Per Month |
Food and Groceries16%
16% of total expenses on average (11% to 21%)
| LOW | $180 890 BRL |
| AVERAGE | $540 2,700 BRL |
| HIGH | $2,900 14,000 BRL |
| Per Month |
Healthcare13%
13% of total expenses on average (7% to 17%)
| LOW | $140 700 BRL |
| AVERAGE | $420 2,100 BRL |
| HIGH | $2,300 11,000 BRL |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (2% to 7%)
| LOW | $77 380 BRL |
| AVERAGE | $230 1,100 BRL |
| HIGH | $1,200 6,100 BRL |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $26 130 BRL |
| AVERAGE | $77 380 BRL |
| HIGH | $410 2,000 BRL |
| Per Month |
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $220 1,100 BRL |
| AVERAGE | $650 3,200 BRL |
| HIGH | $3,500 17,000 BRL |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Rio de Janeiro
Housing28%
28% of total expenses on average (23% to 38%)
| LOW | $570 2,800 BRL |
| AVERAGE | $1,600 8,100 BRL |
| HIGH | $9,000 45,000 BRL |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 8%)
| LOW | $140 710 BRL |
| AVERAGE | $410 2,000 BRL |
| HIGH | $2,300 11,000 BRL |
| Per Month |
Food and Groceries20%
20% of total expenses on average (13% to 26%)
| LOW | $320 1,600 BRL |
| AVERAGE | $920 4,600 BRL |
| HIGH | $5,100 25,000 BRL |
| Per Month |
Healthcare10%
10% of total expenses on average (6% to 15%)
| LOW | $140 710 BRL |
| AVERAGE | $410 2,000 BRL |
| HIGH | $2,300 11,000 BRL |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $90 440 BRL |
| AVERAGE | $260 1,300 BRL |
| HIGH | $1,400 7,000 BRL |
| Per Month |
Education14%
14% of total expenses on average (7% to 22%)
| LOW | $250 1,200 BRL |
| AVERAGE | $720 3,600 BRL |
| HIGH | $3,900 20,000 BRL |
| Per Month |
Other Expenses14%
14% of total expenses on average (7% to 19%)
| LOW | $220 1,100 BRL |
| AVERAGE | $610 3,000 BRL |
| HIGH | $3,400 17,000 BRL |
| Per Month |
StudentCost of living and expenses break down for students living in Rio de Janeiro
Housing20%
20% of total expenses on average (15% to 26%)
| LOW | $150 750 BRL |
| AVERAGE | $380 1,900 BRL |
| HIGH | $680 3,400 BRL |
| Per Month |
Utilities, Electricity, Water6%
6% of total expenses on average (4% to 10%)
| LOW | $25 120 BRL |
| AVERAGE | $63 310 BRL |
| HIGH | $110 560 BRL |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (5% to 11%)
| LOW | $44 220 BRL |
| AVERAGE | $110 550 BRL |
| HIGH | $200 980 BRL |
| Per Month |
Food and Groceries22%
22% of total expenses on average (16% to 26%)
| LOW | $130 620 BRL |
| AVERAGE | $310 1,600 BRL |
| HIGH | $570 2,800 BRL |
| Per Month |
Healthcare8%
8% of total expenses on average (5% to 11%)
| LOW | $38 190 BRL |
| AVERAGE | $94 470 BRL |
| HIGH | $170 840 BRL |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $31 160 BRL |
| AVERAGE | $79 390 BRL |
| HIGH | $140 700 BRL |
| Per Month |
Education19%
19% of total expenses on average (12% to 24%)
| LOW | $120 590 BRL |
| AVERAGE | $300 1,500 BRL |
| HIGH | $540 2,700 BRL |
| Per Month |
Other Expenses17%
17% of total expenses on average (11% to 23%)
| LOW | $94 470 BRL |
| AVERAGE | $240 1,200 BRL |
| HIGH | $420 2,100 BRL |
| Per Month |
