Cost Of Living in Sargodha 2024

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

Whether you're living in Sargodha 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.

Singles

The average monthly expense for a single person living in Sargodha is 240,000 PKR. Expenses can range from 79,000 PKR at the minimum level to 1.6M PKR at the highest end.

Couples

The average monthly spending of couples in Sargodha is 390,000 PKR. Expenditure can range from 130,000 PKR to 2.1M PKR per month.

Families

The average cost of living for families in Sargodha is 530,000 PKR per month. Families spend anywhere from 180,000 PKR to 2.9M PKR.

Students

The average monthly expenditure for students in Sargodha is 150,000 PKR. Students spend from 61,000 PKR to 270,000 PKR per month.

Expenditure to Income Ratio in Sargodha

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.

Expense to income distribution levels

Interpretation and Analysis

The average spending-to-salary ratio in Sargodha is 80% This means that on average, people spend around 80% of their income for living. According to the distribution table, 14% of the population spend approximately 60% to 70% of their income every month.

Individual
72%
Spending-Income-Ratio

---

67%

78%

Couple
76%
Spending-Income-Ratio

---

71%

83%

Family
84%
Spending-Income-Ratio

---

78%

91%

How do people spend their money in Sargodha?

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

People living in Sargodha typically spend from 11% to 30% of their total monthly expenditure on housing with 22% being the average. The average spend on housing is 100,000 PKR with expenditure ranging from 7,900 PKR to 1M PKR. 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.

Utility expenditure like electricity, water, and gas in Sargodha ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 17,000 PKR with 1,300 PKR and 170,000 PKR being the upper and lower limits.

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 2,600 PKR to 340,000 PKR on commuting with 34,000 PKR being the norm for most people in one month. This means that money spent on transport constitutes about 6% of total spending on average but can go as low as 3% or as high as 10%.

The average outlay on groceries in a month in Sargodha is 85,000 PKR. The cost of groceries can range between 6,600 PKR to 850,000 PKR. People spend on average about 29% on food and groceries with upper and lower bounds of 21% and 35% respectively.

People in Sargodha allocate 6% to 14% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 11%. The range of medical expenses range from 1,800 PKR to 240,000 PKR with 24,000 PKR being the norm.

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 1,100 PKR to 140,000 PKR with 14,000 PKR being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.

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 21,000 PKR per month with 1,600 PKR being the minimum spent amount and 210,000 PKR being the maximum.

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

Almost 43% of the surveyed people in Sargodha said that they can save some money at the end of each month while 58% said that aren't saving anything.

Percentage of people saving money by population group in Sargodha

Saving to Income Ratio

Average Monthly Saved Amount

For most people, 6.3% to 24% of their monthly income is what they can allocate to their savings, with 12% being the average. The amount of money that people can save is approximately 99,000 PKR on average with savings ranging from 7,600 PKR to 990,000 PKR.

51% of surveyed singles reported some of their income going to savings while 47% of couples said the same. 42% of families confirmed their ability to save money.

How much money do people actually save in Sargodha?

Singles

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for singles

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 9.1% to 26% of their monthly income to savings, with 15% being the average for most singles. The average amount of money that singles are able to save is 69,000 PKR with 23,000 PKR and 460,000 PKR being the minimum and maximum respectively.

Couples

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 7.2% to 25% of their monthly income, with 14% being the average for most couples. The average amount of money that couples can save is 110,000 PKR with 38,000 PKR and 610,000 PKR being the minimum and maximum respectively.

Families

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for families

Interpretation and Analysis

Families in Sargodha can save anywhere between 6.3% to 24% of their monthly income, with 12% being the average for most families. The average amount of money that families can put aside is 150,000 PKR with 53,000 PKR and 840,000 PKR 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

Affordable living in Sargodha

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Sargodha?

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

Low-cost alternatives in Sargodha

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 options46%

Few low-cost options54%

Based on the survey, 46% of the people living in Sargodha have no problem finding low-cost alternatives to support a frugal lifestyle while 54% 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 Sargodha whether they have an emergency fund and the answers were as follows.

Yes34%

No66%

Based on the survey, 66% of the people living in Sargodha said that they don't have an emergency fund while 34% said that they do.

Financial Literacy in Pakistan

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 Leteracy38%

We asked residents of Pakistan whether they acquired any adequate personal financial training in their lives. Approximately 62% 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 38% 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 Pakistan have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 67% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 33% said that they have everything under control.

Struggles with finance67%

Easily manages finances33%

Financial goals of people in Sargodha

In an attempt to understand the economic situation in Sargodha, 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.

Around 9% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 46% said their number one priority is to pay off high-interest debt or loans and improve credit. 11% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 6% reported that their priority is saving for the tuition fees and education costs of their children while 19% choose to buy a home or pay off existing mortgage before other things. 6% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 5% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 16% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Saving Challenges in Sargodha

Reasons that make it difficult for people to save money

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

Around 4% of the people said that their salary is too low to accommodate a portion for savings while 7% said that the high cost of living leaves little room for savings. 11% of the residents said that they are burdened with debt and find it challenging to save money. 12% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 12% blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 5% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 22% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 14% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 2% 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 Sargodha

Where do people choose to put their savings?

Retirement, pension plans, and life after work in Sargodha

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

Retirement age

The retirement age for most employees in Pakistan 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.

Retirement Income Distribution

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

Retirement Monthly Expenses in Sargodha

Debt, loans, and mortgages in Sargodha

Percentage of people who are in debt

According to the survey, 34% of the people in Sargodha have some kind of debt, loan, mortgage, or credit card payments while 67% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Sargodha

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 Sargodha goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 4% of the debtors in Sargodha pay 60%+ of their income as debt settlement while 20% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 16% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 18% dedicated 30% to 40% of income for same. Things are looking brighter for 8% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Sargodha

6% of debtors in Sargodha confirm that real estate mortgages constitutes the main part of their outstanding debt while 32% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 12% of people and personal loans rose at 45%. Lastly, student loans are the main source of debt for 4% of debtors in Sargodha.

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 Sargodha

Besides measuring the loan-to-income ratio, we asked residents of Sargodha 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.

Housing costs, accommodation, and housing affordability in Sargodha

Rent Cost in Sargodha

Monthly Rent Prices

Studio apartment

28,000 PKR

42,000 PKR

110,000 PKR

MINIMUM

AVERAGE

MAXIMUM

$100

$150

$400

1-bedroom apartment

42,000 PKR

68,000 PKR

170,000 PKR

MINIMUM

AVERAGE

MAXIMUM

$150

$240

$610

2-bedroom apartment

57,000 PKR

85,000 PKR

230,000 PKR

MINIMUM

AVERAGE

MAXIMUM

$200

$300

$810

3-bedroom apartment

68,000 PKR

110,000 PKR

310,000 PKR

MINIMUM

AVERAGE

MAXIMUM

$240

$400

$1,100

Furnished apartment

140,000 PKR

340,000 PKR

680,000 PKR

MINIMUM

AVERAGE

MAXIMUM

$490

$1,200

$2,400

Townhouse

110,000 PKR

170,000 PKR

480,000 PKR

MINIMUM

AVERAGE

MAXIMUM

$400

$610

$1,700

House

140,000 PKR

340,000 PKR

680,000 PKR

MINIMUM

AVERAGE

MAXIMUM

$490

$1,200

$2,400

Villa

170,000 PKR

420,000 PKR

680,000 PKR

MINIMUM

AVERAGE

MAXIMUM

$610

$1,500

$2,400

The monthly rental cost of a studio apartment in Sargodha ranges between 28,000 PKR and 110,000 PKR, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 42,000 PKR to 170,000 PKR. Two-bedroom rentals rate ranges between 57,000 PKR and 230,000 PKR per month. The monthly rental for a three-bedroom apartment ranges from 68,000 PKR to 310,000 PKR. The average rent of a townhouse in Sargodha is around 170,000 PKR while house rental costs can be as high as 340,000 PKR per month. Finally, if you want to rent a villa, expect to pay anywhere from 170,000 PKR to 680,000 PKR per month.

Apartment and house prices in Sargodha

Cost of buying a property

Studio apartment

5.7M PKR

8.5M PKR

17M PKR

MINIMUM

AVERAGE

MAXIMUM

$20,000

$30,000

$61,000

1-bedroom apartment

6.8M PKR

11M PKR

42M PKR

MINIMUM

AVERAGE

MAXIMUM

$24,000

$40,000

$150,000

2-bedroom apartment

11M PKR

34M PKR

68M PKR

MINIMUM

AVERAGE

MAXIMUM

$40,000

$120,000

$240,000

3-bedroom apartment

38M PKR

57M PKR

170M PKR

MINIMUM

AVERAGE

MAXIMUM

$130,000

$200,000

$610,000

Townhouse

48M PKR

110M PKR

420M PKR

MINIMUM

AVERAGE

MAXIMUM

$170,000

$400,000

$1.5M

House

57M PKR

340M PKR

480M PKR

MINIMUM

AVERAGE

MAXIMUM

$200,000

$1.2M

$1.7M

Villa

68M PKR

380M PKR

570M PKR

MINIMUM

AVERAGE

MAXIMUM

$240,000

$1.3M

$2M

The average price of a studio apartment in Sargodha can range from 5.7M PKR to 17M PKR depending on location. One bedroom cost can be anywhere from 6.8M PKR to 42M PKR. A villa can cost you 380M PKR on average with prices ranging from 68M PKR to 570M PKR.

House / apartment prices to income ratio

Property prices in Sargodha can be x70 to x168 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x70 multiples of the average monthly salary in Sargodha.

Rent to income ratio

The average rent-to-income ratio in Sargodha is around 25%. This means that people pay 25% of their income for rent. Those figures can range from 16% to 34% depending on the salary, location, and type of property.

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.

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 Sargodha

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

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

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