Cost Of Living For a Student in Arequipa 2024
Average Monthly Expenditure
Currency: PEN
Average monthly spending for students in Arequipa
How much money does a student need in a month to survive in Arequipa?
Students in Arequipa spend around 5,600 PEN per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 860 PEN or as high as 38,000 PEN. Location is a very important factor and has a huge influence on expenditure and budget.
Prices and cost of goods and services in Arequipa
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
| 27,000 PEN | 54,000 PEN | 72,000 PEN |
Bus ticket one way
Car Service
Utility cost (monthly)
Utility Bill - Student
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
| 960 PEN | 1,400 PEN | 3,800 PEN |
1-bedroom apartment
| 1,400 PEN | 2,300 PEN | 5,800 PEN |
2-bedroom apartment
| 1,900 PEN | 2,900 PEN | 7,700 PEN |
Housing costs / Buying
Studio apartment
| 190,000 PEN | 290,000 PEN | 580,000 PEN |
1-bedroom apartment
| 230,000 PEN | 380,000 PEN | 1.4M PEN |
| $61,000 | $100,000 | $380,000 |
2-bedroom apartment
| 380,000 PEN | 1.2M PEN | 2.3M PEN |
| $100,000 | $310,000 | $610,000 |
Furniture Costs
King Size Bed
| 1,100 PEN | 1,300 PEN | 1,800 PEN |
Double Bed
| 720 PEN | 1,100 PEN | 1,300 PEN |
Single Bed
| 630 PEN | 830 PEN | 1,100 PEN |
Living Room
| 1,200 PEN | 1,500 PEN | 5,400 PEN |
Dining Table
| 540 PEN | 720 PEN | 1,300 PEN |
Sofa or Couch
| 720 PEN | 980 PEN | 2,100 PEN |
Electronics and House Appliance Costs
TV Set
| 720 PEN | 1,100 PEN | 2,100 PEN |
Fridge or Freezer
| 630 PEN | 980 PEN | 1,300 PEN |
Washing Machine
| 830 PEN | 1,200 PEN | 2,100 PEN |
Stove or Cooker
| 770 PEN | 980 PEN | 1,300 PEN |
Mobile Phone
| 900 PEN | 1,100 PEN | 1,500 PEN |
Laptop or Computer
| 980 PEN | 1,200 PEN | 2,100 PEN |
How do students spend their money in Arequipa?
We asked thousands of students about their spending habits and expenditure break down.
Housing and accomodation expenditure for students
Accomodation Cost18%
18% of total expenses on average (13% to 24%)
| LOW | $54 210 PEN |
| AVERAGE | $360 1,400 PEN |
| HIGH | $2,400 9,000 PEN |
| Per Month |
Students in Arequipa typically spend from 13% to 24% of their total monthly expenditure on housing with 18% being the average. The average monthly spend on housing is 1,400 PEN with expenditure ranging from 210 PEN to 9,000 PEN. This cost mainly goes for rent but it also includes other accommodation-related expenses.
Electricity, utilities, energy, water, internet, and mobile expenditure for students
Cost of utilities7%
7% of total expenses on average (5% to 11%)
| LOW | $9.1 34 PEN |
| AVERAGE | $60 230 PEN |
| HIGH | $400 1,500 PEN |
| Per Month |
Utility expenditure like electricity, water, and gas in Arequipa ranges from 5% to 11% of total expenses with 7% being the average for most students. The average monthly cost of utilities is 230 PEN with 34 PEN and 1,500 PEN being the upper and lower limits for a student of four.
Transport, fuel, and commute expenditure for students
Cost of transport and fuel4%
4% of total expenses on average (4% to 10%)
| LOW | $16 60 PEN |
| AVERAGE | $100 390 PEN |
| HIGH | $700 2,600 PEN |
| Per Month |
Fuel consumption and cost of transport depend heavily on whether a student resides near school and work, but roughly speaking a student would expect to spend from 60 PEN to 2,600 PEN in a month on commuting with 390 PEN being the norm for most students. This means that money spent on transport constitutes about 4% of total spending on average but can go as low as 4% or as high as 10%.
Food, groceries, and basic shopping expenditure for students
Food and Groceries Cost23%
23% of total expenses on average (17% to 27%)
| LOW | $45 170 PEN |
| AVERAGE | $300 1,100 PEN |
| HIGH | $2,000 7,500 PEN |
| Per Month |
The average outlay on groceries and basic houshold items for a typical student in a month in Arequipa is 1,100 PEN. The cost of groceries can range between 170 PEN to 7,500 PEN. Students spend on average about 23% on food and groceries with upper and lower bounds of 17% and 27% respectively.
Healthcare and medical services expenditure for students
Cost of healthcare9%
9% of total expenses on average (6% to 12%)
| LOW | $14 51 PEN |
| AVERAGE | $90 340 PEN |
| HIGH | $600 2,300 PEN |
| Per Month |
Students in Arequipa allocate 6% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 9%. The range of medical expenses range from 51 PEN to 2,300 PEN with 340 PEN being the norm for most students.
Leisure and shopping expenditure for students
Cost of leisure and shopping2%
2% of total expenses on average (2% to 6%)
| LOW | $11 43 PEN |
| AVERAGE | $75 280 PEN |
| HIGH | $500 1,900 PEN |
| 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 PEN to 1,900 PEN with 280 PEN being the average. Speaking of percentages, that equates to 2% to 6% of total expenses with an average of 2% for most students.
Education and schooling expenditure for students
Cost of education and schooling18%
18% of total expenses on average (11% to 23%)
| LOW | $43 160 PEN |
| AVERAGE | $280 1,100 PEN |
| HIGH | $1,900 7,100 PEN |
| Per Month |
Spending on education can vary drastically between different students. On average, education constitutes 18% of the monthly expenditure of students with 11% and 23% being the lower and upper bounds respectively. The average reported education cost is 1,100 PEN per month with 160 PEN being the minimum spent amount and 7,100 PEN being the maximum.
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $34 130 PEN |
| AVERAGE | $220 840 PEN |
| HIGH | $1,500 5,600 PEN |
| Per Month |
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 Arequipa
Income and cost of living compatibility
We asked students one simple question and recorded their answers.
Is it affordable or economical to live in Arequipa?
Around 66% of surveyed students think that living in Arequipa 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 Arequipa
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 students how easily cost-cutting is and the answers were distributed as follows:
Plenty of low-cost options62%
Few low-cost options39%
Based on the survey, 62% of the students living in Arequipa have no problem finding low-cost alternatives to support a frugal lifestyle while 39% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
Emergency Funds For Students
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 students of Arequipa whether they have an emergency fund and the answers were as follows.
Yes66%
No34%
Based on the survey, 34% of the students living in Arequipa said that they don't have an emergency fund while 66% said that they do.
Financial Literacy in Peru
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 student guardians and parents in Arequipa 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 students of Peru have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 31% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 69% said that they have everything under control.
Struggles with finance31%
Easily manages finances69%
Housing costs, accommodation, and housing affordability in Arequipa
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Arequipa
Monthly Rent Prices
Studio apartment monthly rent cost
| 960 PEN | 1,400 PEN | 3,800 PEN |
1-bedroom apartment monthly rent cost
| 1,400 PEN | 2,300 PEN | 5,800 PEN |
2-bedroom apartment monthly rent cost
| 1,900 PEN | 2,900 PEN | 7,700 PEN |
3-bedroom apartment monthly rent cost
| 2,300 PEN | 3,800 PEN | 10,000 PEN |
Furnished apartment monthly rent cost
| 4,600 PEN | 12,000 PEN | 23,000 PEN |
Townhouse monthly rent cost
| 3,800 PEN | 5,800 PEN | 16,000 PEN |
House monthly rent cost
| 4,600 PEN | 12,000 PEN | 23,000 PEN |
Villa monthly rent cost
| 5,800 PEN | 14,000 PEN | 23,000 PEN |
The monthly rental cost of a studio apartment in Arequipa ranges between 960 PEN and 3,800 PEN, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 1,400 PEN to 5,800 PEN. Two-bedroom rentals rate ranges between 1,900 PEN and 7,700 PEN per month. The monthly rental for a three-bedroom apartment ranges from 2,300 PEN to 10,000 PEN. The average rent of a townhouse in Arequipa is around 5,800 PEN while house rental costs can be as high as 12,000 PEN per month. Finally, if you want to rent a villa, expect to pay anywhere from 5,800 PEN to 23,000 PEN per month.
Apartment and house prices in Arequipa
Cost of buying a property
Studio apartment price
| 190,000 PEN | 290,000 PEN | 580,000 PEN |
1-bedroom apartment price
| 230,000 PEN | 380,000 PEN | 1.4M PEN |
| $61,000 | $100,000 | $380,000 |
2-bedroom apartment price
| 380,000 PEN | 1.2M PEN | 2.3M PEN |
| $100,000 | $310,000 | $610,000 |
3-bedroom apartment price
| 1.3M PEN | 1.9M PEN | 5.8M PEN |
Townhouse price
| 1.6M PEN | 3.8M PEN | 14M PEN |
House price
Villa price
The average price of a studio apartment in Arequipa can range from 190,000 PEN to 580,000 PEN depending on location. One bedroom cost can be anywhere from 230,000 PEN to 1.4M PEN. A villa can cost you 13M PEN on average with prices ranging from 2.3M PEN to 19M PEN.
If you're leasing or purchasing, housing costs in Arequipa 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 | x120 monthly income | 215 |
Property prices in Arequipa can be x120 to x215 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x120 multiples of the average monthly salary in Arequipa.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Arequipa is around 33%. This means that people pay 33% of their income for rent. Those figures can range from 23% to 43% 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
30% 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 Arequipa
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Arequipa
Utility Bill Cost / Electricity + Water + Gas / Student
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 energy and water consumption of students is around 230 PEN. The cost of internet and WiFi ranges from 54 PEN to 140 PEN with 110 PEN being the average internet bill. Finally, the average monthly mobile charges is around 72 PEN but can range between 43 PEN and 210 PEN 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 Arequipa is around 5.1%. This means that people pay 5.1% of their income for energy, water, internet, and mobile charges. Those figures can range from 2.1% to 9.2% depending on salary and location.
Food Prices, Dining Expenses, and Grocery Costs in Arequipa
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Arequipa
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 Arequipa is approximatly 21 PEN with meal cost ranging from 11 PEN to 36 PEN. 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 37 PEN and 110 PEN with 56 PEN being the average price of a plate for one person at a regular restaurant in Arequipa.
Fine dining meal for one price
The price range of a meal at fine-dining restaurant is 74 PEN to 450 PEN with the average cost being 110 PEN for one person. This is what you would expect to pay a top-tier diner in Arequipa.
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 Arequipa is around 14 PEN. Price ranges between 9 PEN and 21 PEN 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 Arequipa is 8.6 PEN. The maximum what you would pay for milk is 11 PEN and the minimum being 7.2 PEN depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 7.2 PEN on average with 5.4 PEN and 11 PEN being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Arequipa is between 12 PEN and 22 PEN depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 16 PEN.
Pack of beef price
The price of a regular pack of beef or meat is around 21 PEN. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Arequipa costs around 7.9 PEN on average with prices rangeing between 5.8 PEN and 11 PEN depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 2.1 PEN to 5.4 PEN. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 5 PEN 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 Arequipa is around 27%. This means that students spend 27% of their income on grocery and basic household items. The expenditure can range from 19% to 33% depending on salary and location.
Expenditure on food and grocery for students
Students' spending on grocery ranges from 170 PEN to 7,500 PEN with the location, income, and size of the student being the most determinite factors.
