Cost Of Living in Salvador 2024

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

Whether you're living in Salvador 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

15,000 BRL

per month
$3,100

1,200 BRL   $240
$31,000   150,000 BRL

Single

11,000 BRL

per month
$2,200

3,600 BRL   $720
$14,000   72,000 BRL

Couple

18,000 BRL

per month
$3,600

6,000 BRL   $1,200
$19,000   95,000 BRL

Family

24,000 BRL

per month
$4,800

8,300 BRL   $1,700
$26,000   130,000 BRL

Student

7,300 BRL

per month
$1,500

2,900 BRL   $590
$2,700   13,000 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 Salvador is 11,000 BRL. Expenses can range from 3,600 BRL at the minimum level to 72,000 BRL at the highest end.


Couples

The average monthly spending of couples in Salvador is 18,000 BRL. Expenditure can range from 6,000 BRL to 95,000 BRL per month.


Families

The average cost of living for families in Salvador is 24,000 BRL per month. Families spend anywhere from 8,300 BRL to 130,000 BRL.


Students

The average monthly expenditure for students in Salvador is 7,300 BRL. Students spend from 2,900 BRL to 13,000 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 Salvador


Dining, food, and beverages costs


Large bottle of water
1.7 BRL 2 BRL 2.3 BRL
MINIMUM AVERAGE MAXIMUM
$0.35 $0.40 $0.46
Fast food combo meal
15 BRL 30 BRL 49 BRL
MINIMUM AVERAGE MAXIMUM
$3 $6 $9.9
Restaurant meal for one
52 BRL 78 BRL 160 BRL
MINIMUM AVERAGE MAXIMUM
$10 $16 $31
Fine dining meal for one
100 BRL 160 BRL 620 BRL
MINIMUM AVERAGE MAXIMUM
$21 $31 $130
Soda or Soft Drink
2.1 BRL 2.5 BRL 3 BRL
MINIMUM AVERAGE MAXIMUM
$0.43 $0.50 $0.60
Cappuccino or latte
12 BRL 20 BRL 30 BRL
MINIMUM AVERAGE MAXIMUM
$2.5 $4 $6

Grocery and market costs


Milk large bottle
9.9 BRL 12 BRL 15 BRL
MINIMUM AVERAGE MAXIMUM
$2 $2.4 $3
Loaf of bread
1.8 BRL 2 BRL 2.3 BRL
MINIMUM AVERAGE MAXIMUM
$0.36 $0.41 $0.47
12 eggs
7.4 BRL 9.9 BRL 15 BRL
MINIMUM AVERAGE MAXIMUM
$1.5 $2 $3
Fresh whole chicken
17 BRL 22 BRL 31 BRL
MINIMUM AVERAGE MAXIMUM
$3.4 $4.4 $6.2
Beef 1 kg or 1 lb
20 BRL 30 BRL 59 BRL
MINIMUM AVERAGE MAXIMUM
$4 $6 $12
Rice 1 kg or 1 lb
7.9 BRL 11 BRL 15 BRL
MINIMUM AVERAGE MAXIMUM
$1.6 $2.2 $3.1
Tomato 1 kg or 1 lb
3 BRL 3.9 BRL 7.4 BRL
MINIMUM AVERAGE MAXIMUM
$0.60 $0.80 $1.5
Apples 1 kg or 1 lb
5.3 BRL 6.9 BRL 11 BRL
MINIMUM AVERAGE MAXIMUM
$1.1 $1.4 $2.3

Commute, travel, and transportation costs


20 minutes taxi ride
13 BRL 16 BRL 31 BRL
MINIMUM AVERAGE MAXIMUM
$2.6 $3.1 $6.3
Average car full tank
74 BRL 99 BRL 200 BRL
MINIMUM AVERAGE MAXIMUM
$15 $20 $40
Average car 1-day rental
81 BRL 110 BRL 160 BRL
MINIMUM AVERAGE MAXIMUM
$16 $22 $33
Average car price
37,000 BRL 74,000 BRL 99,000 BRL
MINIMUM AVERAGE MAXIMUM
$7,500 $15,000 $20,000
Bus ticket one way
2.7 BRL 4.1 BRL 8.1 BRL
MINIMUM AVERAGE MAXIMUM
$0.55 $0.82 $1.6
Car Service
110 BRL 160 BRL 330 BRL
MINIMUM AVERAGE MAXIMUM
$22 $33 $66

Utility cost (monthly)


Utility Bill - Individual
210 BRL 640 BRL 4,300 BRL
MINIMUM AVERAGE MAXIMUM
$43 $130 $870
Utility Bill - Couple
300 BRL 890 BRL 4,800 BRL
MINIMUM AVERAGE MAXIMUM
$60 $180 $960
Utility Bill - Family
250 BRL 720 BRL 3,900 BRL
MINIMUM AVERAGE MAXIMUM
$51 $140 $790
Internet and cable
74 BRL 150 BRL 200 BRL
MINIMUM AVERAGE MAXIMUM
$15 $30 $40
Mobile phone charges
59 BRL 99 BRL 300 BRL
MINIMUM AVERAGE MAXIMUM
$12 $20 $60

Leisure and activities costs


Movie ticket
37 BRL 49 BRL 74 BRL
MINIMUM AVERAGE MAXIMUM
$7.5 $9.9 $15
One month gym membership
130 BRL 160 BRL 330 BRL
MINIMUM AVERAGE MAXIMUM
$26 $33 $66

Cloths and accessories costs


Pair of jeans or pants
96 BRL 140 BRL 200 BRL
MINIMUM AVERAGE MAXIMUM
$19 $27 $41
Woman dress
90 BRL 130 BRL 410 BRL
MINIMUM AVERAGE MAXIMUM
$18 $25 $82
Woman shoes
86 BRL 120 BRL 270 BRL
MINIMUM AVERAGE MAXIMUM
$17 $23 $55
Men's shoes
74 BRL 90 BRL 180 BRL
MINIMUM AVERAGE MAXIMUM
$15 $18 $36
Men suit
81 BRL 100 BRL 540 BRL
MINIMUM AVERAGE MAXIMUM
$16 $21 $110
Regular t-shirt
41 BRL 54 BRL 160 BRL
MINIMUM AVERAGE MAXIMUM
$8.2 $11 $33

Housing costs / monthly rent


Studio apartment
1,400 BRL 2,000 BRL 5,400 BRL
MINIMUM AVERAGE MAXIMUM
$270 $410 $1,100
1-bedroom apartment
2,000 BRL 3,300 BRL 8,100 BRL
MINIMUM AVERAGE MAXIMUM
$410 $660 $1,600
2-bedroom apartment
2,700 BRL 4,100 BRL 11,000 BRL
MINIMUM AVERAGE MAXIMUM
$550 $820 $2,200

Housing costs / Buying


Studio apartment
270,000 BRL 410,000 BRL 810,000 BRL
MINIMUM AVERAGE MAXIMUM
$55,000 $82,000 $160,000
1-bedroom apartment
330,000 BRL 540,000 BRL 2M BRL
MINIMUM AVERAGE MAXIMUM
$66,000 $110,000 $410,000
2-bedroom apartment
540,000 BRL 1.6M BRL 3.3M BRL
MINIMUM AVERAGE MAXIMUM
$110,000 $330,000 $660,000

Furniture Costs


King Size Bed
1,500 BRL 1,800 BRL 2,500 BRL
MINIMUM AVERAGE MAXIMUM
$300 $370 $500
Double Bed
990 BRL 1,500 BRL 1,800 BRL
MINIMUM AVERAGE MAXIMUM
$200 $300 $370
Single Bed
870 BRL 1,100 BRL 1,500 BRL
MINIMUM AVERAGE MAXIMUM
$180 $230 $300
Living Room
1,600 BRL 2,100 BRL 7,400 BRL
MINIMUM AVERAGE MAXIMUM
$330 $430 $1,500
Dining Table
740 BRL 990 BRL 1,800 BRL
MINIMUM AVERAGE MAXIMUM
$150 $200 $370
Sofa or Couch
990 BRL 1,300 BRL 3,000 BRL
MINIMUM AVERAGE MAXIMUM
$200 $270 $600

Electronics and House Appliance Costs


TV Set
990 BRL 1,500 BRL 3,000 BRL
MINIMUM AVERAGE MAXIMUM
$200 $300 $600
Fridge or Freezer
870 BRL 1,300 BRL 1,800 BRL
MINIMUM AVERAGE MAXIMUM
$180 $270 $370
Washing Machine
1,100 BRL 1,600 BRL 3,000 BRL
MINIMUM AVERAGE MAXIMUM
$230 $330 $600
Stove or Cooker
1,100 BRL 1,300 BRL 1,800 BRL
MINIMUM AVERAGE MAXIMUM
$210 $270 $370
Mobile Phone
1,200 BRL 1,500 BRL 2,100 BRL
MINIMUM AVERAGE MAXIMUM
$250 $300 $430
Laptop or Computer
1,300 BRL 1,600 BRL 3,000 BRL
MINIMUM AVERAGE MAXIMUM
$270 $330 $600

Expenditure to Income Ratio in Salvador

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

90%

80% to 100%

( 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 Salvador is 90% This means that on average, people spend around 90% 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
81%
Spending-Income-Ratio
72%
90%

Couple
86%
Spending-Income-Ratio
76%
95%

Family
95%
Spending-Income-Ratio
84%
100%

How do people spend their money in Salvador?

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$72   360 BRL
AVERAGE$940   4,600 BRL
HIGH$9,400   46,000 BRL
Per Month

People living in Salvador typically spend from 14% to 33% of their total monthly expenditure on housing with 25% being the average. The average spend on housing is 4,600 BRL with expenditure ranging from 360 BRL to 46,000 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$12   60 BRL
AVERAGE$160   770 BRL
HIGH$1,600   7,700 BRL
Per Month

Utility expenditure like electricity, water, and gas in Salvador ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 770 BRL with 60 BRL and 7,700 BRL being the upper and lower limits.

Transport, Fuel, Commute7%

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

LOW$24   120 BRL
AVERAGE$310   1,500 BRL
HIGH$3,100   15,000 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 120 BRL to 15,000 BRL on commuting with 1,500 BRL 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$60   300 BRL
AVERAGE$780   3,900 BRL
HIGH$7,800   39,000 BRL
Per Month

The average outlay on groceries in a month in Salvador is 3,900 BRL. The cost of groceries can range between 300 BRL to 39,000 BRL. 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$17   83 BRL
AVERAGE$220   1,100 BRL
HIGH$2,200   11,000 BRL
Per Month

People in Salvador 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 83 BRL to 11,000 BRL with 1,100 BRL being the norm.

Leisure and Shopping5%

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

LOW$9.6   48 BRL
AVERAGE$130   620 BRL
HIGH$1,300   6,200 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 48 BRL to 6,200 BRL with 620 BRL 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$14   72 BRL
AVERAGE$190   930 BRL
HIGH$1,900   9,300 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 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 930 BRL per month with 72 BRL being the minimum spent amount and 9,300 BRL being the maximum.

Other Expenses13%

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

LOW$31   150 BRL
AVERAGE$410   2,000 BRL
HIGH$4,100   20,000 BRL
Per Month

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


Saving Money
73%
Not Saving
27%

Almost 73% of the surveyed people in Salvador said that they can save some money at the end of each month while 27% said that aren't saving anything.


Percentage of people saving money by population group in Salvador

GroupSaversNon Savers
Singles73%27%
Couples67%33%
Families62%38%

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

14% 24% of income 36%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

440 BRL
$88
5,700 BRL
$1,100
57,000 BRL
$11,000
MINIMUM AVERAGE MAXIMUM

For most people, 14% to 36% of their monthly income is what they can allocate to their savings, with 24% being the average. The amount of money that people can save is approximately 5,700 BRL on average with savings ranging from 440 BRL to 57,000 BRL.

73% of surveyed singles reported some of their income going to savings while 67% of couples said the same. 62% of families confirmed their ability to save money.


How much money do people actually save in Salvador?

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% 28% of income 38%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

1,300 BRL
$260
3,900 BRL
$790
26,000 BRL
$5,300
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 38% of their monthly income to savings, with 28% being the average for most singles. The average amount of money that singles are able to save is 3,900 BRL with 1,300 BRL and 26,000 BRL being the minimum and maximum respectively.


Couples

Saving to Income Ratio

15% 26% of income 37%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

2,200 BRL
$440
6,500 BRL
$1,300
35,000 BRL
$7,000
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 37% of their monthly income, with 26% being the average for most couples. The average amount of money that couples can save is 6,500 BRL with 2,200 BRL and 35,000 BRL being the minimum and maximum respectively.


Families

Saving to Income Ratio

13% 22% of income 33%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

3,000 BRL
$620
8,700 BRL
$1,800
48,000 BRL
$9,700
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 Salvador 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 8,700 BRL with 3,000 BRL and 48,000 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 Salvador

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Salvador?


Yes
75%
No
25%

Around 75% of surveyed residents think that living in Salvador is affordable with proper budgeting while 25% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Salvador

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 options66%

Few low-cost options34%


Based on the survey, 66% of the people living in Salvador have no problem finding low-cost alternatives to support a frugal lifestyle while 34% 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 Salvador whether they have an emergency fund and the answers were as follows.

Yes75%

No25%


Based on the survey, 25% of the people living in Salvador said that they don't have an emergency fund while 75% 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 Salvador

In an attempt to understand the economic situation in Salvador, 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 Reduction38%
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 38% 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.

Saving Challenges in Salvador

Reasons that make it difficult for people to save money

We wanted to understand what is stopping people from maximizing their savings in Salvador. 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 societal expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Typical saving choices for people in Salvador

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%

Retirement, pension plans, and life after work in Salvador

What does the retirement lifestyle look like in Salvador 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:
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 Salvador:
AgeAmount
2542,000 BRL
3085,000 BRL
35150,000 BRL
40210,000 BRL
45320,000 BRL
50440,000 BRL
55530,000 BRL
60660,000 BRL
65780,000 BRL

Retirement Income Distribution

We asked residents of Salvador 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 Salvador

2,600 BRL
$520
7,800 BRL
$1,600
52,000 BRL
$10,000
MINIMUM AVERAGE MAXIMUM

Debt, loans, and mortgages in Salvador


Percentage of people who are in debt


In Debt
25%
Debt Free
75%

According to the survey, 25% of the people in Salvador have some kind of debt, loan, mortgage, or credit card payments while 75% reported that they don't have financial obligations to banks.


Debt-to-income ratio in Salvador

Debt to income ratio

30%

21% to 40%

( 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 30% of the people's monthly income in Salvador goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

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

According to our data, 3% of the debtors in Salvador pay 60%+ of their income as debt settlement while 15% 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 Salvador

Debt% People
Real Estate Mortgage10%
Auto Loan18%
Student Loan4%
Credit Card28%
Personal Loan40%

10% of debtors in Salvador 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 40%. Lastly, student loans are the main source of debt for 4% of debtors in Salvador.


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 Salvador

Besides measuring the loan-to-income ratio, we asked residents of Salvador 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 costs, accommodation, and housing affordability in Salvador

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


Rent Cost in Salvador

Monthly Rent Prices

Studio apartment
1,400 BRL 2,000 BRL 5,400 BRL
MINIMUM AVERAGE MAXIMUM
$270 $410 $1,100
1-bedroom apartment
2,000 BRL 3,300 BRL 8,100 BRL
MINIMUM AVERAGE MAXIMUM
$410 $660 $1,600
2-bedroom apartment
2,700 BRL 4,100 BRL 11,000 BRL
MINIMUM AVERAGE MAXIMUM
$550 $820 $2,200
3-bedroom apartment
3,300 BRL 5,400 BRL 15,000 BRL
MINIMUM AVERAGE MAXIMUM
$660 $1,100 $3,000
Furnished apartment
6,500 BRL 16,000 BRL 33,000 BRL
MINIMUM AVERAGE MAXIMUM
$1,300 $3,300 $6,600
Townhouse
5,400 BRL 8,100 BRL 23,000 BRL
MINIMUM AVERAGE MAXIMUM
$1,100 $1,600 $4,700
House
6,500 BRL 16,000 BRL 33,000 BRL
MINIMUM AVERAGE MAXIMUM
$1,300 $3,300 $6,600
Villa
8,100 BRL 20,000 BRL 33,000 BRL
MINIMUM AVERAGE MAXIMUM
$1,600 $4,100 $6,600

The monthly rental cost of a studio apartment in Salvador ranges between 1,400 BRL and 5,400 BRL, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 2,000 BRL to 8,100 BRL. Two-bedroom rentals rate ranges between 2,700 BRL and 11,000 BRL per month. The monthly rental for a three-bedroom apartment ranges from 3,300 BRL to 15,000 BRL. The average rent of a townhouse in Salvador is around 8,100 BRL while house rental costs can be as high as 16,000 BRL per month. Finally, if you want to rent a villa, expect to pay anywhere from 8,100 BRL to 33,000 BRL per month.



Apartment and house prices in Salvador

Cost of buying a property

Studio apartment
270,000 BRL 410,000 BRL 810,000 BRL
MINIMUM AVERAGE MAXIMUM
$55,000 $82,000 $160,000
1-bedroom apartment
330,000 BRL 540,000 BRL 2M BRL
MINIMUM AVERAGE MAXIMUM
$66,000 $110,000 $410,000
2-bedroom apartment
540,000 BRL 1.6M BRL 3.3M BRL
MINIMUM AVERAGE MAXIMUM
$110,000 $330,000 $660,000
3-bedroom apartment
1.8M BRL 2.7M BRL 8.1M BRL
MINIMUM AVERAGE MAXIMUM
$360,000 $550,000 $1.6M
Townhouse
2.3M BRL 5.4M BRL 20M BRL
MINIMUM AVERAGE MAXIMUM
$470,000 $1.1M $4.1M
House
2.7M BRL 16M BRL 23M BRL
MINIMUM AVERAGE MAXIMUM
$550,000 $3.3M $4.7M
Villa
3.3M BRL 18M BRL 27M BRL
MINIMUM AVERAGE MAXIMUM
$660,000 $3.6M $5.5M

The average price of a studio apartment in Salvador can range from 270,000 BRL to 810,000 BRL depending on location. One bedroom cost can be anywhere from 330,000 BRL to 2M BRL. A villa can cost you 18M BRL on average with prices ranging from 3.3M BRL to 27M BRL.


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


47 x136 monthly income 233
MINIMUM AVERAGE MAXIMUM

Property prices in Salvador can be x136 to x233 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x136 multiples of the average monthly salary in Salvador.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


25% 36% of income 47%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Salvador is around 36%. This means that people pay 36% of their income for rent. Those figures can range from 25% 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
33%

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
2.3%
AVERAGE
3.3%
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.


24 BRL 310 BRL 3,100 BRL
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.


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

Housing31%

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

LOW$260   1,300 BRL
AVERAGE$780   3,900 BRL
HIGH$5,200   26,000 BRL
Per Month

Utilities, Electricity, Water8%

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

LOW$43   210 BRL
AVERAGE$130   640 BRL
HIGH$870   4,300 BRL
Per Month

Transport, Fuel5%

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

LOW$58   290 BRL
AVERAGE$170   860 BRL
HIGH$1,200   5,700 BRL
Per Month

Food and Groceries19%

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

LOW$120   570 BRL
AVERAGE$350   1,700 BRL
HIGH$2,300   11,000 BRL
Per Month

Healthcare12%

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

LOW$65   320 BRL
AVERAGE$190   970 BRL
HIGH$1,300   6,400 BRL
Per Month

Leisure, Shopping3%

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

LOW$36   180 BRL
AVERAGE$110   540 BRL
HIGH$720   3,600 BRL
Per Month

Education1%

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

LOW$14   72 BRL
AVERAGE$43   210 BRL
HIGH$290   1,400 BRL
Per Month

Other Expenses21%

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

LOW$130   640 BRL
AVERAGE$390   1,900 BRL
HIGH$2,600   13,000 BRL
Per Month


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

Housing28%

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

LOW$400   2,000 BRL
AVERAGE$1,200   5,900 BRL
HIGH$6,400   31,000 BRL
Per Month

Utilities, Electricity, Water7%

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

LOW$60   300 BRL
AVERAGE$180   890 BRL
HIGH$960   4,800 BRL
Per Month

Transport, Fuel9%

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

LOW$140   720 BRL
AVERAGE$430   2,100 BRL
HIGH$2,300   11,000 BRL
Per Month

Food and Groceries17%

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

LOW$170   830 BRL
AVERAGE$510   2,500 BRL
HIGH$2,700   13,000 BRL
Per Month

Healthcare14%

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

LOW$130   660 BRL
AVERAGE$400   2,000 BRL
HIGH$2,100   10,000 BRL
Per Month

Leisure, Shopping4%

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

LOW$72   360 BRL
AVERAGE$220   1,100 BRL
HIGH$1,200   5,700 BRL
Per Month

Education1%

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

LOW$24   120 BRL
AVERAGE$72   360 BRL
HIGH$380   1,900 BRL
Per Month

Other Expenses20%

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

LOW$200   1,000 BRL
AVERAGE$610   3,000 BRL
HIGH$3,300   16,000 BRL
Per Month


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

Housing27%

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

LOW$540   2,700 BRL
AVERAGE$1,500   7,600 BRL
HIGH$8,500   42,000 BRL
Per Month

Transport, Fuel5%

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

LOW$130   670 BRL
AVERAGE$380   1,900 BRL
HIGH$2,100   10,000 BRL
Per Month

Food and Groceries21%

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

LOW$300   1,500 BRL
AVERAGE$870   4,300 BRL
HIGH$4,800   24,000 BRL
Per Month

Healthcare11%

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

LOW$130   670 BRL
AVERAGE$380   1,900 BRL
HIGH$2,100   10,000 BRL
Per Month

Leisure, Shopping3%

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

LOW$84   420 BRL
AVERAGE$240   1,200 BRL
HIGH$1,300   6,600 BRL
Per Month

Education13%

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

LOW$240   1,200 BRL
AVERAGE$670   3,300 BRL
HIGH$3,700   18,000 BRL
Per Month

Other Expenses15%

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

LOW$200   1,000 BRL
AVERAGE$580   2,900 BRL
HIGH$3,200   16,000 BRL
Per Month


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

Housing19%

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

LOW$140   700 BRL
AVERAGE$350   1,800 BRL
HIGH$640   3,200 BRL
Per Month

Utilities, Electricity, Water6%

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

LOW$24   120 BRL
AVERAGE$59   290 BRL
HIGH$110   530 BRL
Per Month

Transport, Fuel4%

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

LOW$41   210 BRL
AVERAGE$100   510 BRL
HIGH$190   920 BRL
Per Month

Food and Groceries23%

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

LOW$120   590 BRL
AVERAGE$300   1,500 BRL
HIGH$530   2,600 BRL
Per Month

Healthcare9%

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

LOW$35   180 BRL
AVERAGE$89   440 BRL
HIGH$160   790 BRL
Per Month

Leisure, Shopping3%

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

LOW$30   150 BRL
AVERAGE$74   370 BRL
HIGH$130   660 BRL
Per Month

Education18%

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

LOW$110   560 BRL
AVERAGE$280   1,400 BRL
HIGH$510   2,500 BRL
Per Month

Other Expenses18%

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

LOW$89   440 BRL
AVERAGE$220   1,100 BRL
HIGH$400   2,000 BRL
Per Month
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