Cost Of Living in Soledad de Graciano Sanchez 2024

Average monthly spending for singles, couples, students, and families in Soledad de Graciano Sanchez

Whether you're living in Soledad de Graciano Sanchez 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

50,000 MXN

per month
$3,000

3,900 MXN   $230
$30,000   500,000 MXN

Single

35,000 MXN

per month
$2,100

12,000 MXN   $680
$14,000   230,000 MXN

Couple

58,000 MXN

per month
$3,400

19,000 MXN   $1,100
$18,000   310,000 MXN

Family

77,000 MXN

per month
$4,600

27,000 MXN   $1,600
$25,000   430,000 MXN

Student

24,000 MXN

per month
$1,400

9,600 MXN   $560
$2,500   43,000 MXN
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Soledad de Graciano Sanchez is 35,000 MXN. Expenses can range from 12,000 MXN at the minimum level to 230,000 MXN at the highest end.


Couples

The average monthly spending of couples in Soledad de Graciano Sanchez is 58,000 MXN. Expenditure can range from 19,000 MXN to 310,000 MXN per month.


Families

The average cost of living for families in Soledad de Graciano Sanchez is 77,000 MXN per month. Families spend anywhere from 27,000 MXN to 430,000 MXN.


Students

The average monthly expenditure for students in Soledad de Graciano Sanchez is 24,000 MXN. Students spend from 9,600 MXN to 43,000 MXN 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 Soledad de Graciano Sanchez


Dining, food, and beverages costs


Large bottle of water
6.3 MXN 7.2 MXN 8.3 MXN
MINIMUM AVERAGE MAXIMUM
$0.37 $0.42 $0.49
Fast food combo meal
54 MXN 110 MXN 180 MXN
MINIMUM AVERAGE MAXIMUM
$3.2 $6.3 $11
Restaurant meal for one
180 MXN 270 MXN 530 MXN
MINIMUM AVERAGE MAXIMUM
$11 $16 $32
Fine dining meal for one
360 MXN 530 MXN 2,100 MXN
MINIMUM AVERAGE MAXIMUM
$21 $32 $130
Soda or Soft Drink
7.7 MXN 9 MXN 11 MXN
MINIMUM AVERAGE MAXIMUM
$0.45 $0.53 $0.63
Cappuccino or latte
45 MXN 72 MXN 110 MXN
MINIMUM AVERAGE MAXIMUM
$2.6 $4.2 $6.3

Grocery and market costs


Milk large bottle
36 MXN 43 MXN 54 MXN
MINIMUM AVERAGE MAXIMUM
$2.1 $2.5 $3.2
Loaf of bread
6.5 MXN 7.4 MXN 8.5 MXN
MINIMUM AVERAGE MAXIMUM
$0.38 $0.43 $0.50
12 eggs
27 MXN 36 MXN 54 MXN
MINIMUM AVERAGE MAXIMUM
$1.6 $2.1 $3.2
Fresh whole chicken
61 MXN 79 MXN 110 MXN
MINIMUM AVERAGE MAXIMUM
$3.6 $4.7 $6.6
Beef 1 kg or 1 lb
72 MXN 110 MXN 210 MXN
MINIMUM AVERAGE MAXIMUM
$4.2 $6.3 $13
Rice 1 kg or 1 lb
29 MXN 39 MXN 56 MXN
MINIMUM AVERAGE MAXIMUM
$1.7 $2.3 $3.3
Tomato 1 kg or 1 lb
11 MXN 14 MXN 27 MXN
MINIMUM AVERAGE MAXIMUM
$0.63 $0.84 $1.6
Apples 1 kg or 1 lb
19 MXN 25 MXN 41 MXN
MINIMUM AVERAGE MAXIMUM
$1.1 $1.5 $2.4

Commute, travel, and transportation costs


20 minutes taxi ride
45 MXN 53 MXN 110 MXN
MINIMUM AVERAGE MAXIMUM
$2.6 $3.2 $6.3
Average car full tank
270 MXN 360 MXN 720 MXN
MINIMUM AVERAGE MAXIMUM
$16 $21 $42
Average car 1-day rental
270 MXN 350 MXN 530 MXN
MINIMUM AVERAGE MAXIMUM
$16 $21 $31
Average car price
130,000 MXN 270,000 MXN 360,000 MXN
MINIMUM AVERAGE MAXIMUM
$7,900 $16,000 $21,000
Bus ticket one way
8.9 MXN 13 MXN 27 MXN
MINIMUM AVERAGE MAXIMUM
$0.52 $0.78 $1.6
Car Service
350 MXN 530 MXN 1,100 MXN
MINIMUM AVERAGE MAXIMUM
$21 $31 $63

Utility cost (monthly)


Utility Bill - Individual
700 MXN 2,100 MXN 14,000 MXN
MINIMUM AVERAGE MAXIMUM
$41 $120 $820
Utility Bill - Couple
970 MXN 2,900 MXN 15,000 MXN
MINIMUM AVERAGE MAXIMUM
$57 $170 $910
Utility Bill - Family
810 MXN 2,300 MXN 13,000 MXN
MINIMUM AVERAGE MAXIMUM
$48 $140 $750
Internet and cable
270 MXN 540 MXN 720 MXN
MINIMUM AVERAGE MAXIMUM
$16 $32 $42
Mobile phone charges
210 MXN 360 MXN 1,100 MXN
MINIMUM AVERAGE MAXIMUM
$13 $21 $63

Leisure and activities costs


Movie ticket
130 MXN 180 MXN 270 MXN
MINIMUM AVERAGE MAXIMUM
$7.9 $11 $16
One month gym membership
430 MXN 530 MXN 1,100 MXN
MINIMUM AVERAGE MAXIMUM
$25 $31 $63

Cloths and accessories costs


Pair of jeans or pants
310 MXN 440 MXN 660 MXN
MINIMUM AVERAGE MAXIMUM
$18 $26 $39
Woman dress
300 MXN 410 MXN 1,300 MXN
MINIMUM AVERAGE MAXIMUM
$17 $24 $78
Woman shoes
280 MXN 380 MXN 890 MXN
MINIMUM AVERAGE MAXIMUM
$16 $22 $52
Men's shoes
240 MXN 300 MXN 590 MXN
MINIMUM AVERAGE MAXIMUM
$14 $17 $35
Men suit
270 MXN 330 MXN 1,800 MXN
MINIMUM AVERAGE MAXIMUM
$16 $20 $100
Regular t-shirt
130 MXN 180 MXN 530 MXN
MINIMUM AVERAGE MAXIMUM
$7.8 $10 $31

Housing costs / monthly rent


Studio apartment
4,400 MXN 6,600 MXN 18,000 MXN
MINIMUM AVERAGE MAXIMUM
$260 $390 $1,000
1-bedroom apartment
6,600 MXN 11,000 MXN 27,000 MXN
MINIMUM AVERAGE MAXIMUM
$390 $630 $1,600
2-bedroom apartment
8,900 MXN 13,000 MXN 35,000 MXN
MINIMUM AVERAGE MAXIMUM
$520 $780 $2,100

Housing costs / Buying


Studio apartment
890,000 MXN 1.3M MXN 2.7M MXN
MINIMUM AVERAGE MAXIMUM
$52,000 $78,000 $160,000
1-bedroom apartment
1.1M MXN 1.8M MXN 6.6M MXN
MINIMUM AVERAGE MAXIMUM
$63,000 $100,000 $390,000
2-bedroom apartment
1.8M MXN 5.3M MXN 11M MXN
MINIMUM AVERAGE MAXIMUM
$100,000 $310,000 $630,000

Furniture Costs


King Size Bed
5,400 MXN 6,700 MXN 9,000 MXN
MINIMUM AVERAGE MAXIMUM
$320 $400 $530
Double Bed
3,600 MXN 5,400 MXN 6,700 MXN
MINIMUM AVERAGE MAXIMUM
$210 $320 $400
Single Bed
3,200 MXN 4,100 MXN 5,400 MXN
MINIMUM AVERAGE MAXIMUM
$190 $240 $320
Living Room
6,000 MXN 7,700 MXN 27,000 MXN
MINIMUM AVERAGE MAXIMUM
$350 $450 $1,600
Dining Table
2,700 MXN 3,600 MXN 6,700 MXN
MINIMUM AVERAGE MAXIMUM
$160 $210 $400
Sofa or Couch
3,600 MXN 4,900 MXN 11,000 MXN
MINIMUM AVERAGE MAXIMUM
$210 $290 $630

Electronics and House Appliance Costs


TV Set
3,600 MXN 5,400 MXN 11,000 MXN
MINIMUM AVERAGE MAXIMUM
$210 $320 $630
Fridge or Freezer
3,200 MXN 4,900 MXN 6,700 MXN
MINIMUM AVERAGE MAXIMUM
$190 $290 $400
Washing Machine
4,100 MXN 6,000 MXN 11,000 MXN
MINIMUM AVERAGE MAXIMUM
$240 $350 $630
Stove or Cooker
3,800 MXN 4,900 MXN 6,700 MXN
MINIMUM AVERAGE MAXIMUM
$230 $290 $400
Mobile Phone
4,500 MXN 5,400 MXN 7,700 MXN
MINIMUM AVERAGE MAXIMUM
$260 $320 $450
Laptop or Computer
4,900 MXN 6,000 MXN 11,000 MXN
MINIMUM AVERAGE MAXIMUM
$290 $350 $630

Expenditure to Income Ratio in Soledad de Graciano Sanchez

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

78%

70% to 87%

( 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%19%
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 Soledad de Graciano Sanchez is 78% This means that on average, people spend around 78% 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
71%
Spending-Income-Ratio
63%
78%

Couple
75%
Spending-Income-Ratio
66%
83%

Family
82%
Spending-Income-Ratio
73%
91%

How do people spend their money in Soledad de Graciano Sanchez?

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$68   1,200 MXN
AVERAGE$890   15,000 MXN
HIGH$8,900   150,000 MXN
Per Month

People living in Soledad de Graciano Sanchez typically spend from 13% to 32% of their total monthly expenditure on housing with 24% being the average. The average spend on housing is 15,000 MXN with expenditure ranging from 1,200 MXN to 150,000 MXN. 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$11   190 MXN
AVERAGE$150   2,500 MXN
HIGH$1,500   25,000 MXN
Per Month

Utility expenditure like electricity, water, and gas in Soledad de Graciano Sanchez ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 2,500 MXN with 190 MXN and 25,000 MXN being the upper and lower limits.

Transport, Fuel, Commute7%

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

LOW$23   390 MXN
AVERAGE$300   5,000 MXN
HIGH$3,000   50,000 MXN
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 390 MXN to 50,000 MXN on commuting with 5,000 MXN 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$57   970 MXN
AVERAGE$740   13,000 MXN
HIGH$7,400   130,000 MXN
Per Month

The average outlay on groceries in a month in Soledad de Graciano Sanchez is 13,000 MXN. The cost of groceries can range between 970 MXN to 130,000 MXN. 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$16   270 MXN
AVERAGE$210   3,500 MXN
HIGH$2,100   35,000 MXN
Per Month

People in Soledad de Graciano Sanchez 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 270 MXN to 35,000 MXN with 3,500 MXN being the norm.

Leisure and Shopping5%

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

LOW$9.1   150 MXN
AVERAGE$120   2,000 MXN
HIGH$1,200   20,000 MXN
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 150 MXN to 20,000 MXN with 2,000 MXN 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   230 MXN
AVERAGE$180   3,000 MXN
HIGH$1,800   30,000 MXN
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 3,000 MXN per month with 230 MXN being the minimum spent amount and 30,000 MXN being the maximum.

Other Expenses13%

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

LOW$30   500 MXN
AVERAGE$390   6,500 MXN
HIGH$3,900   65,000 MXN
Per Month

How much money can you save in Soledad de Graciano Sanchez 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 Soledad de Graciano Sanchez manage to save money from their income every month?


Saving Money
62%
Not Saving
38%

Almost 62% of the surveyed people in Soledad de Graciano Sanchez said that they can save some money at the end of each month while 38% said that aren't saving anything.


Percentage of people saving money by population group in Soledad de Graciano Sanchez

GroupSaversNon Savers
Singles64%36%
Couples60%40%
Families55%45%

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

12% 21% of income 31%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

1,400 MXN
$85
19,000 MXN
$1,100
190,000 MXN
$11,000
MINIMUM AVERAGE MAXIMUM

For most people, 12% to 31% of their monthly income is what they can allocate to their savings, with 21% being the average. The amount of money that people can save is approximately 19,000 MXN on average with savings ranging from 1,400 MXN to 190,000 MXN.

64% of surveyed singles reported some of their income going to savings while 60% of couples said the same. 55% of families confirmed their ability to save money.


How much money do people actually save in Soledad de Graciano Sanchez?

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

15% 25% of income 33%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

4,300 MXN
$260
13,000 MXN
$770
87,000 MXN
$5,100
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 15% to 33% of their monthly income to savings, with 25% being the average for most singles. The average amount of money that singles are able to save is 13,000 MXN with 4,300 MXN and 87,000 MXN being the minimum and maximum respectively.


Couples

Saving to Income Ratio

13% 23% of income 32%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

7,200 MXN
$430
22,000 MXN
$1,300
120,000 MXN
$6,800
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 13% to 32% of their monthly income, with 23% being the average for most couples. The average amount of money that couples can save is 22,000 MXN with 7,200 MXN and 120,000 MXN being the minimum and maximum respectively.


Families

Saving to Income Ratio

11% 19% of income 28%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

10,000 MXN
$600
29,000 MXN
$1,700
160,000 MXN
$9,400
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 Soledad de Graciano Sanchez can save anywhere between 11% to 28% of their monthly income, with 19% being the average for most families. The average amount of money that families can put aside is 29,000 MXN with 10,000 MXN and 160,000 MXN 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 Soledad de Graciano Sanchez

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Soledad de Graciano Sanchez?


Yes
66%
No
34%

Around 66% of surveyed residents think that living in Soledad de Graciano Sanchez is affordable with proper budgeting while 34% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Soledad de Graciano Sanchez

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 options57%

Few low-cost options43%


Based on the survey, 57% of the people living in Soledad de Graciano Sanchez have no problem finding low-cost alternatives to support a frugal lifestyle while 43% 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 Soledad de Graciano Sanchez whether they have an emergency fund and the answers were as follows.

Yes65%

No35%


Based on the survey, 35% of the people living in Soledad de Graciano Sanchez said that they don't have an emergency fund while 65% said that they do.

Financial Literacy in Mexico

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 Leteracy65%


We asked residents of Mexico whether they acquired any adequate personal financial training in their lives. Approximately 35% 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 65% 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 Mexico have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 28% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 72% said that they have everything under control.

Struggles with finance28%

Easily manages finances72%

Financial goals of people in Soledad de Graciano Sanchez

In an attempt to understand the economic situation in Soledad de Graciano Sanchez, 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 Reduction40%
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 40% 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 Soledad de Graciano Sanchez

Reasons that make it difficult for people to save money

We wanted to understand what is stopping people from maximizing their savings in Soledad de Graciano Sanchez. 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 later20%
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. 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. 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 Soledad de Graciano Sanchez

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 Soledad de Graciano Sanchez

What does the retirement lifestyle look like in Soledad de Graciano Sanchez and how much retirement savings are required?

Retirement age

The retirement age for most employees in Mexico 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 Soledad de Graciano Sanchez:
AgeAmount
25140,000 MXN
30280,000 MXN
35480,000 MXN
40690,000 MXN
451M MXN
501.5M MXN
551.7M MXN
602.1M MXN
652.6M MXN

Retirement Income Distribution

We asked residents of Soledad de Graciano Sanchez 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 Soledad de Graciano Sanchez

8,400 MXN
$500
25,000 MXN
$1,500
170,000 MXN
$9,900
MINIMUM AVERAGE MAXIMUM

Debt, loans, and mortgages in Soledad de Graciano Sanchez


Percentage of people who are in debt


In Debt
24%
Debt Free
76%

According to the survey, 24% of the people in Soledad de Graciano Sanchez have some kind of debt, loan, mortgage, or credit card payments while 76% reported that they don't have financial obligations to banks.


Debt-to-income ratio in Soledad de Graciano Sanchez

Debt to income ratio

27%

17% to 35%

( monthly debt payment / monthly income ) x 100

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 27% of the people's monthly income in Soledad de Graciano Sanchez goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%16%
40% - 50%14%
30% - 40%16%
20% - 30%12%
10% - 20%14%
0% - 10%26%

According to our data, 3% of the debtors in Soledad de Graciano Sanchez pay 60%+ of their income as debt settlement while 16% 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 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 Soledad de Graciano Sanchez

Debt% People
Real Estate Mortgage10%
Auto Loan17%
Student Loan4%
Credit Card28%
Personal Loan41%

10% of debtors in Soledad de Graciano Sanchez 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 17% of people and personal loans rose at 41%. Lastly, student loans are the main source of debt for 4% of debtors in Soledad de Graciano Sanchez.


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 Soledad de Graciano Sanchez

Besides measuring the loan-to-income ratio, we asked residents of Soledad de Graciano Sanchez 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 Soledad de Graciano Sanchez

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


Rent Cost in Soledad de Graciano Sanchez

Monthly Rent Prices

Studio apartment
4,400 MXN 6,600 MXN 18,000 MXN
MINIMUM AVERAGE MAXIMUM
$260 $390 $1,000
1-bedroom apartment
6,600 MXN 11,000 MXN 27,000 MXN
MINIMUM AVERAGE MAXIMUM
$390 $630 $1,600
2-bedroom apartment
8,900 MXN 13,000 MXN 35,000 MXN
MINIMUM AVERAGE MAXIMUM
$520 $780 $2,100
3-bedroom apartment
11,000 MXN 18,000 MXN 48,000 MXN
MINIMUM AVERAGE MAXIMUM
$630 $1,000 $2,800
Furnished apartment
21,000 MXN 53,000 MXN 110,000 MXN
MINIMUM AVERAGE MAXIMUM
$1,300 $3,100 $6,300
Townhouse
18,000 MXN 27,000 MXN 76,000 MXN
MINIMUM AVERAGE MAXIMUM
$1,000 $1,600 $4,500
House
21,000 MXN 53,000 MXN 110,000 MXN
MINIMUM AVERAGE MAXIMUM
$1,300 $3,100 $6,300
Villa
27,000 MXN 66,000 MXN 110,000 MXN
MINIMUM AVERAGE MAXIMUM
$1,600 $3,900 $6,300

The monthly rental cost of a studio apartment in Soledad de Graciano Sanchez ranges between 4,400 MXN and 18,000 MXN, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 6,600 MXN to 27,000 MXN. Two-bedroom rentals rate ranges between 8,900 MXN and 35,000 MXN per month. The monthly rental for a three-bedroom apartment ranges from 11,000 MXN to 48,000 MXN. The average rent of a townhouse in Soledad de Graciano Sanchez is around 27,000 MXN while house rental costs can be as high as 53,000 MXN per month. Finally, if you want to rent a villa, expect to pay anywhere from 27,000 MXN to 110,000 MXN per month.



Apartment and house prices in Soledad de Graciano Sanchez

Cost of buying a property

Studio apartment
890,000 MXN 1.3M MXN 2.7M MXN
MINIMUM AVERAGE MAXIMUM
$52,000 $78,000 $160,000
1-bedroom apartment
1.1M MXN 1.8M MXN 6.6M MXN
MINIMUM AVERAGE MAXIMUM
$63,000 $100,000 $390,000
2-bedroom apartment
1.8M MXN 5.3M MXN 11M MXN
MINIMUM AVERAGE MAXIMUM
$100,000 $310,000 $630,000
3-bedroom apartment
5.9M MXN 8.9M MXN 27M MXN
MINIMUM AVERAGE MAXIMUM
$350,000 $520,000 $1.6M
Townhouse
7.6M MXN 18M MXN 66M MXN
MINIMUM AVERAGE MAXIMUM
$450,000 $1M $3.9M
House
8.9M MXN 53M MXN 76M MXN
MINIMUM AVERAGE MAXIMUM
$520,000 $3.1M $4.5M
Villa
11M MXN 59M MXN 89M MXN
MINIMUM AVERAGE MAXIMUM
$630,000 $3.5M $5.2M

The average price of a studio apartment in Soledad de Graciano Sanchez can range from 890,000 MXN to 2.7M MXN depending on location. One bedroom cost can be anywhere from 1.1M MXN to 6.6M MXN. A villa can cost you 59M MXN on average with prices ranging from 11M MXN to 89M MXN.


If you're leasing or purchasing, housing costs in Soledad de Graciano Sanchez 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


41 x119 monthly income 204
MINIMUM AVERAGE MAXIMUM

Property prices in Soledad de Graciano Sanchez can be x119 to x204 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x119 multiples of the average monthly salary in Soledad de Graciano Sanchez.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


22% 31% of income 41%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Soledad de Graciano Sanchez is around 31%. This means that people pay 31% of their income for rent. Those figures can range from 22% to 41% 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
29%

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
2.2%
AVERAGE
3.2%
TO
4.1%

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.


77 MXN 1,000 MXN 10,000 MXN
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 Soledad de Graciano Sanchez

Housing30%

30% of total expenses on average (18% to 42%)

LOW$250   4,200 MXN
AVERAGE$740   13,000 MXN
HIGH$4,900   84,000 MXN
Per Month

Utilities, Electricity, Water8%

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

LOW$41   700 MXN
AVERAGE$120   2,100 MXN
HIGH$820   14,000 MXN
Per Month

Transport, Fuel5%

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

LOW$55   930 MXN
AVERAGE$160   2,800 MXN
HIGH$1,100   19,000 MXN
Per Month

Food and Groceries19%

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

LOW$110   1,900 MXN
AVERAGE$330   5,600 MXN
HIGH$2,200   37,000 MXN
Per Month

Healthcare12%

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

LOW$62   1,000 MXN
AVERAGE$180   3,100 MXN
HIGH$1,200   21,000 MXN
Per Month

Leisure, Shopping3%

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

LOW$34   580 MXN
AVERAGE$100   1,700 MXN
HIGH$680   12,000 MXN
Per Month

Education1%

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

LOW$14   230 MXN
AVERAGE$41   700 MXN
HIGH$270   4,600 MXN
Per Month

Other Expenses21%

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

LOW$120   2,100 MXN
AVERAGE$370   6,300 MXN
HIGH$2,500   42,000 MXN
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Soledad de Graciano Sanchez

Housing27%

27% of total expenses on average (20% to 37%)

LOW$380   6,400 MXN
AVERAGE$1,100   19,000 MXN
HIGH$6,000   100,000 MXN
Per Month

Utilities, Electricity, Water7%

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

LOW$57   970 MXN
AVERAGE$170   2,900 MXN
HIGH$910   15,000 MXN
Per Month

Transport, Fuel9%

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

LOW$140   2,300 MXN
AVERAGE$410   7,000 MXN
HIGH$2,200   37,000 MXN
Per Month

Food and Groceries17%

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

LOW$160   2,700 MXN
AVERAGE$480   8,100 MXN
HIGH$2,600   43,000 MXN
Per Month

Healthcare14%

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

LOW$130   2,100 MXN
AVERAGE$380   6,400 MXN
HIGH$2,000   34,000 MXN
Per Month

Leisure, Shopping4%

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

LOW$68   1,200 MXN
AVERAGE$210   3,500 MXN
HIGH$1,100   19,000 MXN
Per Month

Education1%

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

LOW$23   390 MXN
AVERAGE$68   1,200 MXN
HIGH$370   6,200 MXN
Per Month

Other Expenses20%

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

LOW$190   3,300 MXN
AVERAGE$580   9,900 MXN
HIGH$3,100   53,000 MXN
Per Month


Family
Average monthly expenses and break out of spending for families living in Soledad de Graciano Sanchez

Housing26%

26% of total expenses on average (21% to 36%)

LOW$510   8,700 MXN
AVERAGE$1,500   25,000 MXN
HIGH$8,000   140,000 MXN
Per Month

Transport, Fuel5%

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

LOW$130   2,200 MXN
AVERAGE$370   6,200 MXN
HIGH$2,000   34,000 MXN
Per Month

Food and Groceries21%

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

LOW$290   4,900 MXN
AVERAGE$820   14,000 MXN
HIGH$4,500   77,000 MXN
Per Month

Healthcare11%

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

LOW$130   2,200 MXN
AVERAGE$370   6,200 MXN
HIGH$2,000   34,000 MXN
Per Month

Leisure, Shopping3%

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

LOW$80   1,400 MXN
AVERAGE$230   3,900 MXN
HIGH$1,300   21,000 MXN
Per Month

Education13%

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

LOW$220   3,800 MXN
AVERAGE$640   11,000 MXN
HIGH$3,500   60,000 MXN
Per Month

Other Expenses15%

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

LOW$190   3,300 MXN
AVERAGE$550   9,300 MXN
HIGH$3,000   51,000 MXN
Per Month


Student
Cost of living and expenses break down for students living in Soledad de Graciano Sanchez

Housing18%

18% of total expenses on average (13% to 24%)

LOW$140   2,300 MXN
AVERAGE$340   5,700 MXN
HIGH$610   10,000 MXN
Per Month

Utilities, Electricity, Water6%

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

LOW$23   380 MXN
AVERAGE$56   960 MXN
HIGH$100   1,700 MXN
Per Month

Transport, Fuel4%

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

LOW$40   670 MXN
AVERAGE$99   1,700 MXN
HIGH$180   3,000 MXN
Per Month

Food and Groceries23%

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

LOW$110   1,900 MXN
AVERAGE$280   4,800 MXN
HIGH$510   8,600 MXN
Per Month

Healthcare9%

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

LOW$34   570 MXN
AVERAGE$85   1,400 MXN
HIGH$150   2,600 MXN
Per Month

Leisure, Shopping3%

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

LOW$28   480 MXN
AVERAGE$71   1,200 MXN
HIGH$130   2,200 MXN
Per Month

Education18%

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

LOW$110   1,800 MXN
AVERAGE$270   4,500 MXN
HIGH$480   8,200 MXN
Per Month

Other Expenses18%

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

LOW$85   1,400 MXN
AVERAGE$210   3,600 MXN
HIGH$380   6,500 MXN
Per Month
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