Cost Of Living For a Student in Santa Cruz 2024
Average Monthly Expenditure
Currency: BOB
Average monthly spending for students in Santa Cruz
How much money does a student need in a month to survive in Santa Cruz?
Students in Santa Cruz spend around 4,600 BOB per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 700 BOB or as high as 30,000 BOB. Location is a very important factor and has a huge influence on expenditure and budget.
Prices and cost of goods and services in Santa Cruz
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
| 21,000 BOB | 43,000 BOB | 57,000 BOB |
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
| 780 BOB | 1,200 BOB | 3,100 BOB |
1-bedroom apartment
| 1,200 BOB | 1,900 BOB | 4,700 BOB |
2-bedroom apartment
| 1,600 BOB | 2,300 BOB | 6,200 BOB |
Housing costs / Buying
Studio apartment
| 160,000 BOB | 230,000 BOB | 470,000 BOB |
1-bedroom apartment
| 190,000 BOB | 310,000 BOB | 1.2M BOB |
2-bedroom apartment
| 310,000 BOB | 940,000 BOB | 1.9M BOB |
| $45,000 | $140,000 | $270,000 |
Furniture Costs
King Size Bed
| 850 BOB | 1,100 BOB | 1,400 BOB |
Double Bed
| 570 BOB | 850 BOB | 1,100 BOB |
Single Bed
Living Room
| 950 BOB | 1,200 BOB | 4,300 BOB |
Dining Table
| 430 BOB | 570 BOB | 1,100 BOB |
Sofa or Couch
| 570 BOB | 770 BOB | 1,700 BOB |
Electronics and House Appliance Costs
TV Set
| 570 BOB | 850 BOB | 1,700 BOB |
Fridge or Freezer
| 500 BOB | 770 BOB | 1,100 BOB |
Washing Machine
| 660 BOB | 950 BOB | 1,700 BOB |
Stove or Cooker
| 610 BOB | 770 BOB | 1,100 BOB |
Mobile Phone
| 710 BOB | 850 BOB | 1,200 BOB |
Laptop or Computer
| 770 BOB | 950 BOB | 1,700 BOB |
How do students spend their money in Santa Cruz?
We asked thousands of students about their spending habits and expenditure break down.
Housing and accomodation expenditure for students
Accomodation Cost19%
19% of total expenses on average (14% to 25%)
| LOW | $24 170 BOB |
| AVERAGE | $160 1,100 BOB |
| HIGH | $1,100 7,300 BOB |
| Per Month |
Students in Santa Cruz typically spend from 14% to 25% of their total monthly expenditure on housing with 19% being the average. The average monthly spend on housing is 1,100 BOB with expenditure ranging from 170 BOB to 7,300 BOB. 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 utilities6%
6% of total expenses on average (4% to 10%)
| LOW | $4 28 BOB |
| AVERAGE | $26 180 BOB |
| HIGH | $180 1,200 BOB |
| Per Month |
Utility expenditure like electricity, water, and gas in Santa Cruz ranges from 4% to 10% of total expenses with 6% being the average for most students. The average monthly cost of utilities is 180 BOB with 28 BOB and 1,200 BOB 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 | $7 49 BOB |
| AVERAGE | $46 320 BOB |
| HIGH | $310 2,100 BOB |
| 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 49 BOB to 2,100 BOB in a month on commuting with 320 BOB 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 | $20 140 BOB |
| AVERAGE | $130 910 BOB |
| HIGH | $880 6,100 BOB |
| Per Month |
The average outlay on groceries and basic houshold items for a typical student in a month in Santa Cruz is 910 BOB. The cost of groceries can range between 140 BOB to 6,100 BOB. 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 | $6 42 BOB |
| AVERAGE | $40 270 BOB |
| HIGH | $260 1,800 BOB |
| Per Month |
Students in Santa Cruz 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 42 BOB to 1,800 BOB with 270 BOB being the norm for most students.
Leisure and shopping expenditure for students
Cost of leisure and shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $5 35 BOB |
| AVERAGE | $33 230 BOB |
| HIGH | $220 1,500 BOB |
| 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 35 BOB to 1,500 BOB with 230 BOB being the average. Speaking of percentages, that equates to 2% to 7% of total expenses with an average of 3% for most students.
Education and schooling expenditure for students
Cost of education and schooling18%
18% of total expenses on average (11% to 23%)
| LOW | $19 130 BOB |
| AVERAGE | $130 870 BOB |
| HIGH | $840 5,800 BOB |
| 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 870 BOB per month with 130 BOB being the minimum spent amount and 5,800 BOB being the maximum.
Other Expenses18%
18% of total expenses on average (12% to 24%)
| LOW | $15 100 BOB |
| AVERAGE | $99 690 BOB |
| HIGH | $660 4,600 BOB |
| 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 Santa Cruz
Income and cost of living compatibility
We asked students one simple question and recorded their answers.
Is it affordable or economical to live in Santa Cruz?
Around 66% of surveyed students think that living in Santa Cruz 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 Santa Cruz
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 options61%
Few low-cost options39%
Based on the survey, 61% of the students living in Santa Cruz 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 Santa Cruz whether they have an emergency fund and the answers were as follows.
Yes61%
No39%
Based on the survey, 39% of the students living in Santa Cruz said that they don't have an emergency fund while 61% said that they do.
Financial Literacy in Bolivia
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 Leteracy55%
We asked student guardians and parents in Santa Cruz whether they acquired any adequate personal financial training in their lives. Approximately 45% 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 55% 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 Bolivia have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 46% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 54% said that they have everything under control.
Struggles with finance46%
Easily manages finances54%
Housing costs, accommodation, and housing affordability in Santa Cruz
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Santa Cruz
Monthly Rent Prices
Studio apartment monthly rent cost
| 780 BOB | 1,200 BOB | 3,100 BOB |
1-bedroom apartment monthly rent cost
| 1,200 BOB | 1,900 BOB | 4,700 BOB |
2-bedroom apartment monthly rent cost
| 1,600 BOB | 2,300 BOB | 6,200 BOB |
3-bedroom apartment monthly rent cost
| 1,900 BOB | 3,100 BOB | 8,500 BOB |
Furnished apartment monthly rent cost
| 3,700 BOB | 9,400 BOB | 19,000 BOB |
Townhouse monthly rent cost
| 3,100 BOB | 4,700 BOB | 13,000 BOB |
House monthly rent cost
| 3,700 BOB | 9,400 BOB | 19,000 BOB |
Villa monthly rent cost
| 4,700 BOB | 12,000 BOB | 19,000 BOB |
The monthly rental cost of a studio apartment in Santa Cruz ranges between 780 BOB and 3,100 BOB, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 1,200 BOB to 4,700 BOB. Two-bedroom rentals rate ranges between 1,600 BOB and 6,200 BOB per month. The monthly rental for a three-bedroom apartment ranges from 1,900 BOB to 8,500 BOB. The average rent of a townhouse in Santa Cruz is around 4,700 BOB while house rental costs can be as high as 9,400 BOB per month. Finally, if you want to rent a villa, expect to pay anywhere from 4,700 BOB to 19,000 BOB per month.
Apartment and house prices in Santa Cruz
Cost of buying a property
Studio apartment price
| 160,000 BOB | 230,000 BOB | 470,000 BOB |
1-bedroom apartment price
| 190,000 BOB | 310,000 BOB | 1.2M BOB |
2-bedroom apartment price
| 310,000 BOB | 940,000 BOB | 1.9M BOB |
| $45,000 | $140,000 | $270,000 |
3-bedroom apartment price
| $150,000 | $230,000 | $680,000 |
Townhouse price
| 1.3M BOB | 3.1M BOB | 12M BOB |
House price
| 1.6M BOB | 9.4M BOB | 13M BOB |
Villa price
The average price of a studio apartment in Santa Cruz can range from 160,000 BOB to 470,000 BOB depending on location. One bedroom cost can be anywhere from 190,000 BOB to 1.2M BOB. A villa can cost you 10M BOB on average with prices ranging from 1.9M BOB to 16M BOB.
If you're leasing or purchasing, housing costs in Santa Cruz 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
| 39 | x113 monthly income | 221 |
Property prices in Santa Cruz can be x113 to x221 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x113 multiples of the average monthly salary in Santa Cruz.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Santa Cruz is around 33%. This means that people pay 33% of their income for rent. Those figures can range from 22% to 44% 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 Santa Cruz
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Santa Cruz
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 180 BOB. The cost of internet and WiFi ranges from 43 BOB to 110 BOB with 85 BOB being the average internet bill. Finally, the average monthly mobile charges is around 57 BOB but can range between 34 BOB and 170 BOB 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 Santa Cruz is around 6.6%. This means that people pay 6.6% of their income for energy, water, internet, and mobile charges. Those figures can range from 3.3% to 11% depending on salary and location.
Food Prices, Dining Expenses, and Grocery Costs in Santa Cruz
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Santa Cruz
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 Santa Cruz is approximatly 17 BOB with meal cost ranging from 8.5 BOB to 28 BOB. 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 30 BOB and 89 BOB with 45 BOB being the average price of a plate for one person at a regular restaurant in Santa Cruz.
Fine dining meal for one price
The price range of a meal at fine-dining restaurant is 60 BOB to 360 BOB with the average cost being 89 BOB for one person. This is what you would expect to pay a top-tier diner in Santa Cruz.
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 Santa Cruz is around 11 BOB. Price ranges between 7.1 BOB and 17 BOB 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 Santa Cruz is 6.8 BOB. The maximum what you would pay for milk is 8.5 BOB and the minimum being 5.7 BOB depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 5.7 BOB on average with 4.3 BOB and 8.5 BOB being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Santa Cruz is between 9.7 BOB and 18 BOB depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 13 BOB.
Pack of beef price
The price of a regular pack of beef or meat is around 17 BOB. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Santa Cruz costs around 6.3 BOB on average with prices rangeing between 4.6 BOB and 8.9 BOB depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 1.7 BOB to 4.3 BOB. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 4 BOB 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 Santa Cruz is around 29%. This means that students spend 29% of their income on grocery and basic household items. The expenditure can range from 20% to 35% depending on salary and location.
Expenditure on food and grocery for students
Students' spending on grocery ranges from 140 BOB to 6,100 BOB with the location, income, and size of the student being the most determinite factors.
