Cost Of Living in Shenzhen 2024
Average monthly spending for singles, couples, students, and families in Shenzhen
Whether you're living in Shenzhen or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.
Average Monthly Expenditure
Currency: CNY
Monthly Expenditure ▶ Single
Currency: CNY
Monthly Expenditure ▶ Couple
Currency: CNY
Monthly Expenditure ▶ Family
Currency: CNY
Monthly Expenditure ▶ Student
Currency: CNY
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Shenzhen is 9,600 CNY. Expenses can range from 1,400 CNY at the minimum level to 64,000 CNY at the highest end.
Couples
The average monthly spending of couples in Shenzhen is 16,000 CNY. Expenditure can range from 5,300 CNY to 86,000 CNY per month.
Families
The average cost of living for families in Shenzhen is 21,000 CNY per month. Families spend anywhere from 7,500 CNY to 140,000 CNY.
Students
The average monthly expenditure for students in Shenzhen is 7,000 CNY. Students spend from 1,100 CNY to 47,000 CNY 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 Shenzhen
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
Cappuccino or latte
Grocery and market costs
Milk large bottle
12 eggs
Fresh whole chicken
Pack of beef
Medium bag of rice
Bag of tomatos
Bag of apples
Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank
Average car 1-day rental
Average car price
| 36,000 CNY | 72,000 CNY | 96,000 CNY |
Bus ticket one way
Car Service
Utility cost (monthly)
Utility Bill - Individual
Utility Bill - Couple
| 210 CNY | 720 CNY | 4,700 CNY |
Utility Bill - Family
| 370 CNY | 1,100 CNY | 7,000 CNY |
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
| 1,200 CNY | 1,800 CNY | 4,800 CNY |
1-bedroom apartment
| 1,800 CNY | 2,900 CNY | 7,200 CNY |
2-bedroom apartment
| 2,400 CNY | 3,600 CNY | 9,700 CNY |
Housing costs / Buying
Studio apartment
| 240,000 CNY | 360,000 CNY | 720,000 CNY |
1-bedroom apartment
| 290,000 CNY | 480,000 CNY | 1.8M CNY |
2-bedroom apartment
| 480,000 CNY | 1.4M CNY | 2.9M CNY |
| $67,000 | $200,000 | $400,000 |
Furniture Costs
King Size Bed
| 1,400 CNY | 1,800 CNY | 2,400 CNY |
Double Bed
| 960 CNY | 1,400 CNY | 1,800 CNY |
Single Bed
| 840 CNY | 1,100 CNY | 1,400 CNY |
Living Room
| 1,600 CNY | 2,000 CNY | 7,200 CNY |
Dining Table
| 720 CNY | 960 CNY | 1,800 CNY |
Sofa or Couch
| 960 CNY | 1,300 CNY | 2,900 CNY |
Electronics and House Appliance Costs
TV Set
| 960 CNY | 1,400 CNY | 2,900 CNY |
Fridge or Freezer
| 840 CNY | 1,300 CNY | 1,800 CNY |
Washing Machine
| 1,100 CNY | 1,600 CNY | 2,900 CNY |
Stove or Cooker
| 1,000 CNY | 1,300 CNY | 1,800 CNY |
Mobile Phone
| 1,200 CNY | 1,400 CNY | 2,000 CNY |
Laptop or Computer
| 1,300 CNY | 1,600 CNY | 2,900 CNY |
Expenditure to Income Ratio in Shenzhen
One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.
Spending to Income Ratio
82%
74% to 91%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 4% |
| 50% - 60% | 9% |
| 60% - 70% | 15% |
| 70% - 80% | 25% |
| 80% - 90% | 20% |
| 90% - 100% | 11% |
| 100% - 110% | 6% |
| 110% - 120% | 4% |
| 120% - 130% | 3% |
| 130% - 140% | 2% |
| > 140% | 2% |
Interpretation and Analysis
The average spending-to-salary ratio in Shenzhen is 82%
This means that on average, people spend around 82% of their income for living.
According to the distribution table, 15% of the population spend approximately 60% to 70% of their income every month.
How can spending be more than income?
A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.
Individual
74%
Spending-Income-Ratio
67%
82%
Couple
78%
Spending-Income-Ratio
71%
86%
Family
86%
Spending-Income-Ratio
78%
95%
How do people spend their money in Shenzhen?
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 Expenditure24%
24% of total expenses on average (13% to 32%)
| LOW | $45 320 CNY |
| AVERAGE | $580 4,200 CNY |
| HIGH | $5,800 42,000 CNY |
| Per Month |
People living in Shenzhen typically spend from 13% to 32% of their total monthly expenditure on housing with 24% being the average. The average spend on housing is 4,200 CNY with expenditure ranging from 320 CNY to 42,000 CNY. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.
Utilities, Electricity, Water, Internet, Mobile7%
7% of total expenses on average (4% to 11%)
| LOW | $7.4 54 CNY |
| AVERAGE | $97 700 CNY |
| HIGH | $970 7,000 CNY |
| Per Month |
Utility expenditure like electricity, water, and gas in Shenzhen ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 700 CNY with 54 CNY and 7,000 CNY being the upper and lower limits.
Transport, Fuel, Commute7%
7% of total expenses on average (3% to 11%)
| LOW | $15 110 CNY |
| AVERAGE | $190 1,400 CNY |
| HIGH | $1,900 14,000 CNY |
| 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 110 CNY to 14,000 CNY on commuting with 1,400 CNY 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 | $37 270 CNY |
| AVERAGE | $480 3,500 CNY |
| HIGH | $4,800 35,000 CNY |
| Per Month |
The average outlay on groceries in a month in Shenzhen is 3,500 CNY. The cost of groceries can range between 270 CNY to 35,000 CNY. 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 | $10 75 CNY |
| AVERAGE | $140 970 CNY |
| HIGH | $1,400 9,700 CNY |
| Per Month |
People in Shenzhen 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 75 CNY to 9,700 CNY with 970 CNY being the norm.
Leisure and Shopping5%
5% of total expenses on average (2% to 9%)
| LOW | $5.9 43 CNY |
| AVERAGE | $77 560 CNY |
| HIGH | $770 5,600 CNY |
| 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 43 CNY to 5,600 CNY with 560 CNY 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 | $8.9 64 CNY |
| AVERAGE | $120 830 CNY |
| HIGH | $1,200 8,300 CNY |
| 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 830 CNY per month with 64 CNY being the minimum spent amount and 8,300 CNY being the maximum.
Other Expenses14%
14% of total expenses on average (9% to 21%)
| LOW | $19 140 CNY |
| AVERAGE | $250 1,800 CNY |
| HIGH | $2,500 18,000 CNY |
| Per Month |
How much money can you save in Shenzhen 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 Shenzhen manage to save money from their income every month?
Almost 60% of the surveyed people in Shenzhen said that they can save some money at the end of each month while 40% said that aren't saving anything.
Percentage of people saving money by population group in Shenzhen
| Group | Savers | Non Savers |
|---|
| Singles | 63% | 37% |
| Couples | 59% | 42% |
| Families | 54% | 46% |
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
380 CNY
$52 | 4,900 CNY
$680 | 49,000 CNY
$6,800 |
For most people, 9.7% to 29% of their monthly income is what they can allocate to their savings, with 16% being the average. The amount of money that people can save is approximately 4,900 CNY on average with savings ranging from 380 CNY to 49,000 CNY.
63% of surveyed singles reported some of their income going to savings while 59% of couples said the same. 54% of families confirmed their ability to save money.
How much money do people actually save in Shenzhen?
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
380 CNY
$52 | 3,400 CNY
$470 | 23,000 CNY
$3,100 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 32% |
| 10% - 20% | 25% |
| 20% - 30% | 16% |
| 30% - 40% | 13% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 13% to 31% of their monthly income to savings, with 20% being the average for most singles. The average amount of money that singles are able to save is 3,400 CNY with 380 CNY and 23,000 CNY being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
1,900 CNY
$260 | 5,700 CNY
$790 | 30,000 CNY
$4,200 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 36% |
| 10% - 20% | 27% |
| 20% - 30% | 19% |
| 30% - 40% | 8% |
| 40% - 50% | 7% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 11% to 30% of their monthly income, with 18% being the average for most couples. The average amount of money that couples can save is 5,700 CNY with 1,900 CNY and 30,000 CNY being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
2,600 CNY
$370 | 7,600 CNY
$1,000 | 49,000 CNY
$6,800 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 39% |
| 10% - 20% | 30% |
| 20% - 30% | 20% |
| 30% - 40% | 5% |
| 40% - 50% | 4% |
| > 50% | 2% |
Interpretation and Analysis
Families in Shenzhen can save anywhere between 8.7% to 27% of their monthly income, with 15% being the average for most families. The average amount of money that families can put aside is 7,600 CNY with 2,600 CNY and 49,000 CNY being the minimum and maximum respectively.
Saving Challenges in Shenzhen
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Shenzhen. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 5% |
| High Expenses | 8% |
| Debt and Loans | 14% |
| Lack of Budgeting Skills | 11% |
| Impulsive Spending | 11% |
| Financial Emergencies | 7% |
| Living the moment | 6% |
| Will do it later | 20% |
| Inflation | 13% |
| Social Pressure | 3% |
| Market Instability | 2% |
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. 14% 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. 20% 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. 13% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.
Typical saving choices for people in Shenzhen
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 12% |
| Gold | 13% |
| Savings Accounts | 17% |
| Retirement Accounts | 10% |
| Cash Savings | 20% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 4% |
| Bonds | 5% |
| Mutual Funds | 2% |
| Certificates of Deposit | 3% |
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 Shenzhen
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Shenzhen?
Around 62% of surveyed residents think that living in Shenzhen is affordable with proper budgeting while 38% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Shenzhen
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 options56%
Few low-cost options44%
Based on the survey, 56% of the people living in Shenzhen have no problem finding low-cost alternatives to support a frugal lifestyle while 44% 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 Shenzhen whether they have an emergency fund and the answers were as follows.
Yes60%
No40%
Based on the survey, 40% of the people living in Shenzhen said that they don't have an emergency fund while 60% said that they do.
Financial Literacy in China
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 Leteracy59%
We asked residents of China whether they acquired any adequate personal financial training in their lives. Approximately 41% 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 59% 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 China have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 37% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 63% said that they have everything under control.
Struggles with finance37%
Easily manages finances63%
Financial goals of people in Shenzhen
In an attempt to understand the economic situation in Shenzhen, 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 | 8% |
| Debt Reduction | 42% |
| Retirement Savings | 10% |
| Education Funding | 7% |
| Homeownership | 18% |
| Investing | 7% |
| Travel or Lifestyle | 7% |
| Healthcare Expenses | 13% |
| Financial Independence | 5% |
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 42% said their number one priority is to pay off high-interest debt or loans and improve credit. 10% 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 7% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 13% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Retirement, pension plans, and life after work in Shenzhen
What does the retirement lifestyle look like in Shenzhen and how much retirement savings are required?
Retirement age
The retirement age for most employees in China 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 Shenzhen:| Age | Amount |
|---|
| 25 | 38,000 CNY |
| 30 | 75,000 CNY |
| 35 | 130,000 CNY |
| 40 | 190,000 CNY |
| 45 | 280,000 CNY |
| 50 | 400,000 CNY |
| 55 | 470,000 CNY |
| 60 | 580,000 CNY |
| 65 | 700,000 CNY |
Retirement Income Distribution
We asked residents of Shenzhen about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 12% |
| Savings | 23% |
| Investments | 12% |
| Social Security | 7% |
| Annuities | 7% |
| Part-time Job | 14% |
| Real Estate | 18% |
| Dividends and Interest | 7% |
Retirement Monthly Expenses in Shenzhen 780 CNY
$110 | 7,000 CNY
$980 | 47,000 CNY
$6,500 |
Debt, loans, and mortgages in Shenzhen
Percentage of people who are in debt
According to the survey, 27% of the people in Shenzhen 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 Shenzhen
Debt to income ratio
29%
20% to 38%
( 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 29% of the people's monthly income in Shenzhen goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 17% |
| 40% - 50% | 14% |
| 30% - 40% | 16% |
| 20% - 30% | 11% |
| 10% - 20% | 13% |
| 0% - 10% | 26% |
According to our data, 3% of the debtors in Shenzhen pay 60%+ of their income as debt settlement while 17% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 14% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 16% dedicated 30% to 40% of income for same. Things are looking brighter for 11% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Shenzhen
| Debt | % People |
|---|
| Real Estate Mortgage | 9% |
| Auto Loan | 16% |
| Student Loan | 4% |
| Credit Card | 29% |
| Personal Loan | 42% |
9% of debtors in Shenzhen confirm that real estate mortgages constitutes the main part of their outstanding debt while 29% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 16% of people and personal loans rose at 42%. Lastly, student loans are the main source of debt for 4% of debtors in Shenzhen.
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 Shenzhen
Besides measuring the loan-to-income ratio, we asked residents of Shenzhen 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 | 51% |
| Once a year | 24% |
| Twice a year | 12% |
| Three times a year | 9% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Shenzhen
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Shenzhen
Monthly Rent Prices
Studio apartment monthly rent cost
| 1,200 CNY | 1,800 CNY | 4,800 CNY |
1-bedroom apartment monthly rent cost
| 1,800 CNY | 2,900 CNY | 7,200 CNY |
2-bedroom apartment monthly rent cost
| 2,400 CNY | 3,600 CNY | 9,700 CNY |
3-bedroom apartment monthly rent cost
| 2,900 CNY | 4,800 CNY | 13,000 CNY |
Furnished apartment monthly rent cost
| 5,800 CNY | 14,000 CNY | 29,000 CNY |
Townhouse monthly rent cost
| 4,800 CNY | 7,200 CNY | 21,000 CNY |
House monthly rent cost
| 5,800 CNY | 14,000 CNY | 29,000 CNY |
Villa monthly rent cost
| 7,200 CNY | 18,000 CNY | 29,000 CNY |
The monthly rental cost of a studio apartment in Shenzhen ranges between 1,200 CNY and 4,800 CNY, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 1,800 CNY to 7,200 CNY. Two-bedroom rentals rate ranges between 2,400 CNY and 9,700 CNY per month. The monthly rental for a three-bedroom apartment ranges from 2,900 CNY to 13,000 CNY. The average rent of a townhouse in Shenzhen is around 7,200 CNY while house rental costs can be as high as 14,000 CNY per month. Finally, if you want to rent a villa, expect to pay anywhere from 7,200 CNY to 29,000 CNY per month.
Apartment and house prices in Shenzhen
Cost of buying a property
Studio apartment price
| 240,000 CNY | 360,000 CNY | 720,000 CNY |
1-bedroom apartment price
| 290,000 CNY | 480,000 CNY | 1.8M CNY |
2-bedroom apartment price
| 480,000 CNY | 1.4M CNY | 2.9M CNY |
| $67,000 | $200,000 | $400,000 |
3-bedroom apartment price
| 1.6M CNY | 2.4M CNY | 7.2M CNY |
Townhouse price
| 2.1M CNY | 4.8M CNY | 18M CNY |
House price
Villa price
The average price of a studio apartment in Shenzhen can range from 240,000 CNY to 720,000 CNY depending on location. One bedroom cost can be anywhere from 290,000 CNY to 1.8M CNY. A villa can cost you 16M CNY on average with prices ranging from 2.9M CNY to 24M CNY.
If you're leasing or purchasing, housing costs in Shenzhen 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
| 35 | x101 monthly income | 196 |
Property prices in Shenzhen can be x101 to x196 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x101 multiples of the average monthly salary in Shenzhen.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Shenzhen is around 29%. This means that people pay 29% of their income for rent. Those figures can range from 19% to 39% 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
27% 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.
Monthly costs and expenses of energy and basic utilities in Shenzhen
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Shenzhen
Utility Bill Cost / Electricity + Water + Gas / Individual
Utility Bill Cost / Electricity + Water + Gas / Couple
| 210 CNY | 720 CNY | 4,700 CNY |
Utility Bill Cost / Electricity + Water + Gas / Family
| 370 CNY | 1,100 CNY | 7,000 CNY |
Internet and cable cost
Mobile phone bill and charges
Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.
The average monthly expenditure for individuals on electricty, water, and gas in Shenzhen ranges between 82 CNY and 3,900 CNY with average being 580 CNY, meanwhile the expenditure of couples is slightly higher at 720 CNY with 210 CNY and 4,700 CNY being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 1,100 CNY. The cost of internet and WiFi is unchanged among the three groups and ranges from 72 CNY to 190 CNY with 140 CNY being the average internet bill. Finally, the average monthly mobile charges is around 96 CNY but can range between 57 CNY and 290 CNY depending on consumption. Mobile charges include both calling minutes as well as data packages.
Energy / Utility expense to income ratio
( monthly utility expenses / monthly income ) x 100
The average utility-to-income ratio in Shenzhen is around 5.8%. This means that people pay 5.8% of their income for energy, water, internet, and mobile charges. Those figures can range from 2.9% to 9.7% depending on salary and location.
Food Prices, Dining Expenses, and Grocery Costs in Shenzhen
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Shenzhen
Dining out, food, and beverages costs. Price variations for common food items.
Fast food combo meal price
The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Shenzhen is approximatly 29 CNY with meal cost ranging from 14 CNY to 48 CNY. The typical combo meal consists of a burger, french fries, and a drink.
Restaurant meal for one price
If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 48 CNY and 140 CNY with 72 CNY being the average price of a plate for one person at a regular restaurant in Shenzhen.
Fine dining meal for one price
The price range of a meal at fine-dining restaurant is 96 CNY to 580 CNY with the average cost being 140 CNY for one person. This is what you would expect to pay a top-tier diner in Shenzhen.
Beverage prices, cappuccino, latte etc..
The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Shenzhen is around 19 CNY. Price ranges between 12 CNY and 29 CNY depending on the type of beverage, the size, and optional add-ons.
Grocery and market costs
Large bottle of milk price
The average price of a large bottle of milk in Shenzhen is 11 CNY. The maximum what you would pay for milk is 14 CNY and the minimum being 9.6 CNY depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 9.6 CNY on average with 7.2 CNY and 14 CNY being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Shenzhen is between 16 CNY and 30 CNY depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 21 CNY.
Pack of beef price
The price of a regular pack of beef or meat is around 29 CNY. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Shenzhen costs around 11 CNY on average with prices rangeing between 7.7 CNY and 15 CNY depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 2.9 CNY to 7.2 CNY. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 6.7 CNY on average. A bag of apples denotes 1Kg or 1lb depending on location.
Grocery and food expenditure to income ratio
( monthly grocery expenses / monthly income ) x 100
The average grocery-to-income ratio in Shenzhen is around 25%. This means that people spend 25% of their income on grocery and basic household items. The expenditure can range from 17% to 31% depending on salary and location.
Expenditure on food and grocery for every population group
A single person living alone spends approximately 1,500 CNY per month on grocery and food with expenditure fluctuating between 220 CNY and 10,000 CNY depending on location and the type of person. The average cost of food and groceries for a couple is around 2,200 CNY per month. That number can be get as low as 750 CNY or a high as 12,000 CNY. Families' spending on grocery ranges from 1,300 CNY to 25,000 CNY with the location, income, and size of the family being the most determinite factors.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Shenzhen
Housing cost for a single person30%
30% of total expenses on average (18% to 42%)
| LOW | $68 490 CNY |
| AVERAGE | $480 3,500 CNY |
| HIGH | $3,200 23,000 CNY |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile8%
8% of total expenses on average (4% to 13%)
| LOW | $11 82 CNY |
| AVERAGE | $80 580 CNY |
| HIGH | $540 3,900 CNY |
| Per Month |
Transport and Fuel Cost5%
5% of total expenses on average (3% to 11%)
| LOW | $15 110 CNY |
| AVERAGE | $110 770 CNY |
| HIGH | $710 5,100 CNY |
| Per Month |
Food and Groceries Cost19%
19% of total expenses on average (13% to 24%)
| LOW | $30 220 CNY |
| AVERAGE | $210 1,500 CNY |
| HIGH | $1,400 10,000 CNY |
| Per Month |
Healthcare Cost12%
12% of total expenses on average (6% to 16%)
| LOW | $17 120 CNY |
| AVERAGE | $120 870 CNY |
| HIGH | $800 5,800 CNY |
| Per Month |
Leisure and Shopping Expenditure3%
3% of total expenses on average (2% to 6%)
| LOW | $9.4 68 CNY |
| AVERAGE | $67 480 CNY |
| HIGH | $450 3,200 CNY |
| Per Month |
Education Cost1%
1% of total expenses on average (0.00% to 3%)
| LOW | $3.8 27 CNY |
| AVERAGE | $27 190 CNY |
| HIGH | $180 1,300 CNY |
| Per Month |
Other Expenses22%
22% of total expenses on average (14% to 26%)
| LOW | $34 240 CNY |
| AVERAGE | $240 1,700 CNY |
| HIGH | $1,600 12,000 CNY |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Shenzhen
Housing cost for a couple27%
27% of total expenses on average (20% to 37%)
| LOW | $250 1,800 CNY |
| AVERAGE | $760 5,500 CNY |
| HIGH | $4,000 29,000 CNY |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile7%
7% of total expenses on average (5% to 11%)
| LOW | $30 210 CNY |
| AVERAGE | $100 720 CNY |
| HIGH | $650 4,700 CNY |
| Per Month |
Transport and Fuel Cost9%
9% of total expenses on average (3% to 14%)
| LOW | $89 640 CNY |
| AVERAGE | $270 1,900 CNY |
| HIGH | $1,400 10,000 CNY |
| Per Month |
Food and Groceries Cost17%
17% of total expenses on average (12% to 22%)
| LOW | $100 750 CNY |
| AVERAGE | $310 2,200 CNY |
| HIGH | $1,700 12,000 CNY |
| Per Month |
Healthcare Cost14%
14% of total expenses on average (8% to 18%)
| LOW | $82 590 CNY |
| AVERAGE | $250 1,800 CNY |
| HIGH | $1,300 9,400 CNY |
| Per Month |
Leisure and Shopping Cost4%
4% of total expenses on average (1% to 7%)
| LOW | $45 320 CNY |
| AVERAGE | $130 960 CNY |
| HIGH | $710 5,100 CNY |
| Per Month |
Education Cost1%
1% of total expenses on average (0.00% to 3%)
| LOW | $15 110 CNY |
| AVERAGE | $45 320 CNY |
| HIGH | $240 1,700 CNY |
| Per Month |
Other Expenses21%
21% of total expenses on average (15% to 27%)
| LOW | $130 910 CNY |
| AVERAGE | $380 2,700 CNY |
| HIGH | $2,000 15,000 CNY |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Shenzhen
Housing cost for a family26%
26% of total expenses on average (21% to 36%)
| LOW | $330 2,400 CNY |
| AVERAGE | $950 6,800 CNY |
| HIGH | $6,200 45,000 CNY |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile5%
5% of total expenses on average (3% to 8%)
| LOW | $52 370 CNY |
| AVERAGE | $150 1,100 CNY |
| HIGH | $970 7,000 CNY |
| Per Month |
Transport and Fuel Expenses5%
5% of total expenses on average (3% to 7%)
| LOW | $100 750 CNY |
| AVERAGE | $300 2,100 CNY |
| HIGH | $1,900 14,000 CNY |
| Per Month |
Food and Groceries Cost21%
21% of total expenses on average (14% to 27%)
| LOW | $190 1,300 CNY |
| AVERAGE | $540 3,900 CNY |
| HIGH | $3,500 25,000 CNY |
| Per Month |
Healthcare Expenses11%
11% of total expenses on average (7% to 16%)
| LOW | $94 670 CNY |
| AVERAGE | $300 2,100 CNY |
| HIGH | $1,500 11,000 CNY |
| Per Month |
Leisure and Shopping Cost3%
3% of total expenses on average (1% to 7%)
| LOW | $52 370 CNY |
| AVERAGE | $150 1,100 CNY |
| HIGH | $970 7,000 CNY |
| Per Month |
Education Cost13%
13% of total expenses on average (6% to 21%)
| LOW | $150 1,000 CNY |
| AVERAGE | $420 3,000 CNY |
| HIGH | $2,700 19,000 CNY |
| Per Month |
Other Expenses16%
16% of total expenses on average (9% to 21%)
| LOW | $83 600 CNY |
| AVERAGE | $240 1,700 CNY |
| HIGH | $1,500 11,000 CNY |
| Per Month |
StudentCost of living and expenses break down for students living in Shenzhen
Housing costs for Student18%
18% of total expenses on average (13% to 24%)
| LOW | $36 260 CNY |
| AVERAGE | $230 1,700 CNY |
| HIGH | $1,600 11,000 CNY |
| Per Month |
Utilities, Electricity, Water, Internet, and Mobile Expenses6%
6% of total expenses on average (4% to 10%)
| LOW | $5.9 43 CNY |
| AVERAGE | $39 280 CNY |
| HIGH | $260 1,900 CNY |
| Per Month |
Transport and Fuel Cost4%
4% of total expenses on average (4% to 10%)
| LOW | $10 75 CNY |
| AVERAGE | $68 490 CNY |
| HIGH | $460 3,300 CNY |
| Per Month |
Food and Groceries Expenditure23%
23% of total expenses on average (17% to 27%)
| LOW | $30 210 CNY |
| AVERAGE | $200 1,400 CNY |
| HIGH | $1,300 9,400 CNY |
| Per Month |
Healthcare Cost9%
9% of total expenses on average (6% to 12%)
| LOW | $8.9 64 CNY |
| AVERAGE | $59 420 CNY |
| HIGH | $390 2,800 CNY |
| Per Month |
Leisure and Shopping Cost3%
3% of total expenses on average (2% to 7%)
| LOW | $7.4 54 CNY |
| AVERAGE | $49 350 CNY |
| HIGH | $330 2,300 CNY |
| Per Month |
Education Cost18%
18% of total expenses on average (11% to 23%)
| LOW | $28 200 CNY |
| AVERAGE | $190 1,300 CNY |
| HIGH | $1,200 8,900 CNY |
| Per Month |
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $22 160 CNY |
| AVERAGE | $150 1,100 CNY |
| HIGH | $980 7,000 CNY |
| Per Month |
