Cost Of Living For a Student in Nicaragua 2025

Average monthly spending for students in Nicaragua

How much money does a student need in a month to survive in Nicaragua?

Students in Nicaragua spend around 38,000 NIO per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 5,800 NIO or as high as 260,000 NIO. Location is a very important factor and has a huge influence on expenditure and budget.

How do students spend their money in Nicaragua?

We asked thousands of students about their spending habits and expenditure break down.

Housing and accomodation expenditure for students

Students in Nicaragua typically spend from 12% to 23% of their total monthly expenditure on housing with 17% being the average. The average monthly spend on housing is 9,200 NIO with expenditure ranging from 1,400 NIO to 61,000 NIO. This cost mainly goes for rent but it also includes other accommodation-related expenses.

Electricity, utilities, energy, water, internet, and mobile expenditure for students

Utility expenditure like electricity, water, and gas in Nicaragua ranges from 5% to 11% of total expenses with 7% being the average for most students. The average monthly cost of utilities is 1,500 NIO with 230 NIO and 10,000 NIO being the upper and lower limits for a student of four.

Transport, fuel, and commute expenditure for students

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 400 NIO to 18,000 NIO in a month on commuting with 2,700 NIO 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

The average outlay on groceries and basic houshold items for a typical student in a month in Nicaragua is 7,700 NIO. The cost of groceries can range between 1,200 NIO to 51,000 NIO. 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

Students in Nicaragua 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 350 NIO to 15,000 NIO with 2,300 NIO being the norm for most students.

Leisure and shopping expenditure for students

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 290 NIO to 13,000 NIO with 1,900 NIO 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

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 7,300 NIO per month with 1,100 NIO being the minimum spent amount and 49,000 NIO being the maximum.

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

• 50% for needs and financial obligations

  This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

• 30% for wants and discretionary spending

  This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

• 20% for savings and emergency fund

  This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

Affordable living in Nicaragua

Income and cost of living compatibility

We asked students one simple question and recorded their answers.

Is it affordable or economical to live in Nicaragua?

Around 49% of surveyed students think that living in Nicaragua is affordable with proper budgeting while 51% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Nicaragua

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 options55%

Few low-cost options45%

Based on the survey, 55% of the students living in Nicaragua have no problem finding low-cost alternatives to support a frugal lifestyle while 45% 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 Nicaragua whether they have an emergency fund and the answers were as follows.

Yes47%

No53%

Based on the survey, 53% of the students living in Nicaragua said that they don't have an emergency fund while 47% said that they do.

Financial Literacy in Nicaragua

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 Leteracy44%

We asked student guardians and parents in Nicaragua whether they acquired any adequate personal financial training in their lives. Approximately 56% 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 44% 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 Nicaragua have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 52% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 48% said that they have everything under control.

Struggles with finance52%

Easily manages finances48%

Housing costs, accommodation, and housing affordability in Nicaragua

Rent Cost in Nicaragua

Monthly Rent Prices

Studio apartment monthly rent cost

6,300 NIO

9,400 NIO

25,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$170

$250

$680

1-bedroom apartment monthly rent cost

9,400 NIO

15,000 NIO

38,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$250

$410

$1,000

2-bedroom apartment monthly rent cost

13,000 NIO

19,000 NIO

50,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$340

$510

$1,400

3-bedroom apartment monthly rent cost

15,000 NIO

25,000 NIO

68,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$410

$680

$1,900

Furnished apartment monthly rent cost

30,000 NIO

75,000 NIO

150,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$820

$2,000

$4,100

Townhouse monthly rent cost

25,000 NIO

38,000 NIO

110,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$680

$1,000

$2,900

House monthly rent cost

30,000 NIO

75,000 NIO

150,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$820

$2,000

$4,100

Villa monthly rent cost

38,000 NIO

94,000 NIO

150,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$1,000

$2,500

$4,100

The monthly rental cost of a studio apartment in Nicaragua ranges between 6,300 NIO and 25,000 NIO, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 9,400 NIO to 38,000 NIO. Two-bedroom rentals rate ranges between 13,000 NIO and 50,000 NIO per month. The monthly rental for a three-bedroom apartment ranges from 15,000 NIO to 68,000 NIO. The average rent of a townhouse in Nicaragua is around 38,000 NIO while house rental costs can be as high as 75,000 NIO per month. Finally, if you want to rent a villa, expect to pay anywhere from 38,000 NIO to 150,000 NIO per month.

Apartment and house prices in Nicaragua

Cost of buying a property

Studio apartment price

1.3M NIO

1.9M NIO

3.8M NIO

MINIMUM

AVERAGE

MAXIMUM

$34,000

$51,000

$100,000

1-bedroom apartment price

1.5M NIO

2.5M NIO

9.4M NIO

MINIMUM

AVERAGE

MAXIMUM

$41,000

$68,000

$250,000

2-bedroom apartment price

2.5M NIO

7.5M NIO

15M NIO

MINIMUM

AVERAGE

MAXIMUM

$68,000

$200,000

$410,000

3-bedroom apartment price

8.3M NIO

13M NIO

38M NIO

MINIMUM

AVERAGE

MAXIMUM

$230,000

$340,000

$1M

Townhouse price

11M NIO

25M NIO

94M NIO

MINIMUM

AVERAGE

MAXIMUM

$290,000

$680,000

$2.5M

House price

13M NIO

75M NIO

110M NIO

MINIMUM

AVERAGE

MAXIMUM

$340,000

$2M

$2.9M

Villa price

15M NIO

83M NIO

130M NIO

MINIMUM

AVERAGE

MAXIMUM

$410,000

$2.3M

$3.4M

The average price of a studio apartment in Nicaragua can range from 1.3M NIO to 3.8M NIO depending on location. One bedroom cost can be anywhere from 1.5M NIO to 9.4M NIO. A villa can cost you 83M NIO on average with prices ranging from 15M NIO to 130M NIO.

House / apartment prices to income ratio

Property prices in Nicaragua can be x82 to x189 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x82 multiples of the average monthly salary in Nicaragua.

Rent to income ratio

The average rent-to-income ratio in Nicaragua is around 28%. This means that people pay 28% of their income for rent. Those figures can range from 18% to 38% depending on the salary, location, and type of property.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Nicaragua

Energy, electricity, water, gas, internet, and mobile cost in Nicaragua

Utility Bill Cost / Electricity + Water + Gas / Student

230 NIO

1,500 NIO

10,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$6.3

$42

$280

Internet and cable cost

380 NIO

750 NIO

1,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$10

$20

$27

Mobile phone bill and charges

300 NIO

500 NIO

1,500 NIO

MINIMUM

AVERAGE

MAXIMUM

$8.2

$14

$41

The average monthly energy and water consumption of students is around 1,500 NIO. The cost of internet and WiFi ranges from 380 NIO to 1,000 NIO with 750 NIO being the average internet bill. Finally, the average monthly mobile charges is around 500 NIO but can range between 300 NIO and 1,500 NIO depending on consumption. Mobile charges include both calling minutes as well as data packages.

Energy / Utility expense to income ratio

The average utility-to-income ratio in Nicaragua is around 7%. This means that people pay 7% of their income for energy, water, internet, and mobile charges. Those figures can range from 4% to 11% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Nicaragua

Prices and cost of goods and services in Nicaragua

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

75 NIO

150 NIO

250 NIO

MINIMUM

AVERAGE

MAXIMUM

$2

$4.1

$6.8

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Nicaragua is approximatly 150 NIO with meal cost ranging from 75 NIO to 250 NIO. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

250 NIO

380 NIO

750 NIO

MINIMUM

AVERAGE

MAXIMUM

$6.8

$10

$20

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 250 NIO and 750 NIO with 380 NIO being the average price of a plate for one person at a regular restaurant in Nicaragua.

Fine dining meal for one price

500 NIO

750 NIO

3,000 NIO

MINIMUM

AVERAGE

MAXIMUM

$14

$20

$82

The price range of a meal at fine-dining restaurant is 500 NIO to 3,000 NIO with the average cost being 750 NIO for one person. This is what you would expect to pay a top-tier diner in Nicaragua.

Beverage prices, cappuccino, latte etc..

63 NIO

100 NIO

150 NIO

MINIMUM

AVERAGE

MAXIMUM

$1.7

$2.7

$4.1

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Nicaragua is around 100 NIO. Price ranges between 63 NIO and 150 NIO depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

50 NIO

60 NIO

75 NIO

MINIMUM

AVERAGE

MAXIMUM

$1.4

$1.6

$2

The average price of a large bottle of milk in Nicaragua is 60 NIO. The maximum what you would pay for milk is 75 NIO and the minimum being 50 NIO depending on the brand of milk and other properties.

12 eggs price

38 NIO

50 NIO

75 NIO

MINIMUM

AVERAGE

MAXIMUM

$1

$1.4

$2

A dozen eggs costs around 50 NIO on average with 38 NIO and 75 NIO being the lower and upper limits respectively.

Fresh whole chicken price

85 NIO

110 NIO

160 NIO

MINIMUM

AVERAGE

MAXIMUM

$2.3

$3

$4.2

The price range of a fresh whole chicken in Nicaragua is between 85 NIO and 160 NIO depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 110 NIO.

Pack of beef price

100 NIO

150 NIO

300 NIO

MINIMUM

AVERAGE

MAXIMUM

$2.7

$4.1

$8.2

The price of a regular pack of beef or meat is around 150 NIO. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

40 NIO

55 NIO

78 NIO

MINIMUM

AVERAGE

MAXIMUM

$1.1

$1.5

$2.1

A bag of rice in Nicaragua costs around 55 NIO on average with prices rangeing between 40 NIO and 78 NIO depending on the brand and quality.

Bag of tomatos price

15 NIO

20 NIO

38 NIO

MINIMUM

AVERAGE

MAXIMUM

$0.41

$0.54

$1

A bag of tomatoes costs anywhere from 15 NIO to 38 NIO. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

27 NIO

35 NIO

58 NIO

MINIMUM

AVERAGE

MAXIMUM

$0.73

$0.95

$1.6

A bag of apples costs 35 NIO on average. A bag of apples denotes 1Kg or 1lb depending on location.

Grocery and food expenditure to income ratio

The average grocery-to-income ratio in Nicaragua 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