Cost Of Living in Sucre 2024

Average monthly spending for singles, couples, students, and families in Sucre

Whether you're living in Sucre 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

7,900 BOB

per month
$1,100

610 BOB   $88
$11,000   79,000 BOB

Single

5,500 BOB

per month
$790

1,800 BOB   $260
$5,300   36,000 BOB

Couple

9,100 BOB

per month
$1,300

3,000 BOB   $440
$7,000   49,000 BOB

Family

12,000 BOB

per month
$1,800

4,200 BOB   $610
$9,700   67,000 BOB

Student

3,700 BOB

per month
$530

1,500 BOB   $210
$960   6,600 BOB
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Sucre is 5,500 BOB. Expenses can range from 1,800 BOB at the minimum level to 36,000 BOB at the highest end.


Couples

The average monthly spending of couples in Sucre is 9,100 BOB. Expenditure can range from 3,000 BOB to 49,000 BOB per month.


Families

The average cost of living for families in Sucre is 12,000 BOB per month. Families spend anywhere from 4,200 BOB to 67,000 BOB.


Students

The average monthly expenditure for students in Sucre is 3,700 BOB. Students spend from 1,500 BOB to 6,600 BOB 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 Sucre


Dining, food, and beverages costs


Large bottle of water
0.99 BOB 1.1 BOB 1.3 BOB
MINIMUM AVERAGE MAXIMUM
$0.14 $0.16 $0.19
Fast food combo meal
8.4 BOB 17 BOB 28 BOB
MINIMUM AVERAGE MAXIMUM
$1.2 $2.4 $4.1
Restaurant meal for one
28 BOB 42 BOB 83 BOB
MINIMUM AVERAGE MAXIMUM
$4 $6 $12
Fine dining meal for one
55 BOB 83 BOB 330 BOB
MINIMUM AVERAGE MAXIMUM
$8 $12 $48
Soda or Soft Drink
1.2 BOB 1.4 BOB 1.7 BOB
MINIMUM AVERAGE MAXIMUM
$0.17 $0.20 $0.24
Cappuccino or latte
7 BOB 11 BOB 17 BOB
MINIMUM AVERAGE MAXIMUM
$1 $1.6 $2.4

Grocery and market costs


Milk large bottle
5.6 BOB 6.7 BOB 8.4 BOB
MINIMUM AVERAGE MAXIMUM
$0.81 $0.98 $1.2
Loaf of bread
1 BOB 1.2 BOB 1.3 BOB
MINIMUM AVERAGE MAXIMUM
$0.15 $0.17 $0.19
12 eggs
4.2 BOB 5.6 BOB 8.4 BOB
MINIMUM AVERAGE MAXIMUM
$0.61 $0.81 $1.2
Fresh whole chicken
9.6 BOB 12 BOB 18 BOB
MINIMUM AVERAGE MAXIMUM
$1.4 $1.8 $2.5
Beef 1 kg or 1 lb
11 BOB 17 BOB 34 BOB
MINIMUM AVERAGE MAXIMUM
$1.6 $2.4 $4.9
Rice 1 kg or 1 lb
4.5 BOB 6.2 BOB 8.8 BOB
MINIMUM AVERAGE MAXIMUM
$0.66 $0.90 $1.3
Tomato 1 kg or 1 lb
1.7 BOB 2.2 BOB 4.2 BOB
MINIMUM AVERAGE MAXIMUM
$0.24 $0.33 $0.61
Apples 1 kg or 1 lb
3 BOB 3.9 BOB 6.5 BOB
MINIMUM AVERAGE MAXIMUM
$0.44 $0.57 $0.94

Commute, travel, and transportation costs


20 minutes taxi ride
6.9 BOB 8.3 BOB 17 BOB
MINIMUM AVERAGE MAXIMUM
$1 $1.2 $2.4
Average car full tank
42 BOB 56 BOB 110 BOB
MINIMUM AVERAGE MAXIMUM
$6.1 $8.1 $16
Average car 1-day rental
41 BOB 54 BOB 82 BOB
MINIMUM AVERAGE MAXIMUM
$5.9 $7.9 $12
Average car price
21,000 BOB 42,000 BOB 56,000 BOB
MINIMUM AVERAGE MAXIMUM
$3,100 $6,100 $8,100
Bus ticket one way
1.4 BOB 2 BOB 4.1 BOB
MINIMUM AVERAGE MAXIMUM
$0.20 $0.30 $0.59
Car Service
54 BOB 82 BOB 160 BOB
MINIMUM AVERAGE MAXIMUM
$7.9 $12 $24

Utility cost (monthly)


Utility Bill - Individual
110 BOB 330 BOB 2,200 BOB
MINIMUM AVERAGE MAXIMUM
$16 $47 $320
Utility Bill - Couple
150 BOB 450 BOB 2,400 BOB
MINIMUM AVERAGE MAXIMUM
$22 $66 $350
Utility Bill - Family
130 BOB 360 BOB 2,000 BOB
MINIMUM AVERAGE MAXIMUM
$18 $53 $290
Internet and cable
42 BOB 84 BOB 110 BOB
MINIMUM AVERAGE MAXIMUM
$6.1 $12 $16
Mobile phone charges
34 BOB 56 BOB 170 BOB
MINIMUM AVERAGE MAXIMUM
$4.9 $8.1 $24

Leisure and activities costs


Movie ticket
21 BOB 28 BOB 42 BOB
MINIMUM AVERAGE MAXIMUM
$3.1 $4.1 $6.1
One month gym membership
65 BOB 82 BOB 160 BOB
MINIMUM AVERAGE MAXIMUM
$9.5 $12 $24

Cloths and accessories costs


Pair of jeans or pants
48 BOB 68 BOB 100 BOB
MINIMUM AVERAGE MAXIMUM
$7 $9.9 $15
Woman dress
45 BOB 63 BOB 200 BOB
MINIMUM AVERAGE MAXIMUM
$6.6 $9.1 $30
Woman shoes
43 BOB 58 BOB 140 BOB
MINIMUM AVERAGE MAXIMUM
$6.2 $8.5 $20
Men's shoes
37 BOB 45 BOB 91 BOB
MINIMUM AVERAGE MAXIMUM
$5.4 $6.6 $13
Men suit
41 BOB 51 BOB 270 BOB
MINIMUM AVERAGE MAXIMUM
$5.9 $7.4 $39
Regular t-shirt
20 BOB 27 BOB 82 BOB
MINIMUM AVERAGE MAXIMUM
$3 $3.9 $12

Housing costs / monthly rent


Studio apartment
680 BOB 1,000 BOB 2,700 BOB
MINIMUM AVERAGE MAXIMUM
$99 $150 $390
1-bedroom apartment
1,000 BOB 1,600 BOB 4,100 BOB
MINIMUM AVERAGE MAXIMUM
$150 $240 $590
2-bedroom apartment
1,400 BOB 2,000 BOB 5,400 BOB
MINIMUM AVERAGE MAXIMUM
$200 $300 $790

Housing costs / Buying


Studio apartment
140,000 BOB 200,000 BOB 410,000 BOB
MINIMUM AVERAGE MAXIMUM
$20,000 $30,000 $59,000
1-bedroom apartment
160,000 BOB 270,000 BOB 1M BOB
MINIMUM AVERAGE MAXIMUM
$24,000 $39,000 $150,000
2-bedroom apartment
270,000 BOB 820,000 BOB 1.6M BOB
MINIMUM AVERAGE MAXIMUM
$39,000 $120,000 $240,000

Furniture Costs


King Size Bed
840 BOB 1,100 BOB 1,400 BOB
MINIMUM AVERAGE MAXIMUM
$120 $150 $200
Double Bed
560 BOB 840 BOB 1,100 BOB
MINIMUM AVERAGE MAXIMUM
$81 $120 $150
Single Bed
500 BOB 650 BOB 840 BOB
MINIMUM AVERAGE MAXIMUM
$72 $94 $120
Living Room
940 BOB 1,200 BOB 4,200 BOB
MINIMUM AVERAGE MAXIMUM
$140 $170 $610
Dining Table
420 BOB 560 BOB 1,100 BOB
MINIMUM AVERAGE MAXIMUM
$61 $81 $150
Sofa or Couch
560 BOB 770 BOB 1,700 BOB
MINIMUM AVERAGE MAXIMUM
$81 $110 $240

Electronics and House Appliance Costs


TV Set
560 BOB 840 BOB 1,700 BOB
MINIMUM AVERAGE MAXIMUM
$81 $120 $240
Fridge or Freezer
500 BOB 770 BOB 1,100 BOB
MINIMUM AVERAGE MAXIMUM
$72 $110 $150
Washing Machine
650 BOB 940 BOB 1,700 BOB
MINIMUM AVERAGE MAXIMUM
$94 $140 $240
Stove or Cooker
600 BOB 770 BOB 1,100 BOB
MINIMUM AVERAGE MAXIMUM
$87 $110 $150
Mobile Phone
700 BOB 840 BOB 1,200 BOB
MINIMUM AVERAGE MAXIMUM
$100 $120 $170
Laptop or Computer
770 BOB 940 BOB 1,700 BOB
MINIMUM AVERAGE MAXIMUM
$110 $140 $240

Expenditure to Income Ratio in Sucre

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

81%

75% to 90%

( expenditure / income ) x 100


Expense to income distribution levels

Spending To Income Ratio% People
< 50%4%
50% - 60%9%
60% - 70%16%
70% - 80%25%
80% - 90%19%
90% - 100%11%
100% - 110%6%
110% - 120%4%
120% - 130%3%
130% - 140%2%
> 140%2%

Interpretation and Analysis

The average spending-to-salary ratio in Sucre is 81% This means that on average, people spend around 81% 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
73%
Spending-Income-Ratio
67%
81%

Couple
77%
Spending-Income-Ratio
71%
85%

Family
85%
Spending-Income-Ratio
78%
94%

How do people spend their money in Sucre?

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$26   180 BOB
AVERAGE$340   2,400 BOB
HIGH$3,400   24,000 BOB
Per Month

People living in Sucre typically spend from 13% to 32% of their total monthly expenditure on housing with 24% being the average. The average spend on housing is 2,400 BOB with expenditure ranging from 180 BOB to 24,000 BOB. 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$4.4   30 BOB
AVERAGE$57   390 BOB
HIGH$570   3,900 BOB
Per Month

Utility expenditure like electricity, water, and gas in Sucre ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 390 BOB with 30 BOB and 3,900 BOB being the upper and lower limits.

Transport, Fuel, Commute7%

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

LOW$8.8   61 BOB
AVERAGE$110   790 BOB
HIGH$1,100   7,900 BOB
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 61 BOB to 7,900 BOB on commuting with 790 BOB 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$22   150 BOB
AVERAGE$290   2,000 BOB
HIGH$2,900   20,000 BOB
Per Month

The average outlay on groceries in a month in Sucre is 2,000 BOB. The cost of groceries can range between 150 BOB to 20,000 BOB. 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$6.1   42 BOB
AVERAGE$80   550 BOB
HIGH$800   5,500 BOB
Per Month

People in Sucre 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 42 BOB to 5,500 BOB with 550 BOB being the norm.

Leisure and Shopping5%

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

LOW$3.5   24 BOB
AVERAGE$46   320 BOB
HIGH$460   3,200 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 24 BOB to 3,200 BOB with 320 BOB 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$5.3   36 BOB
AVERAGE$69   470 BOB
HIGH$690   4,700 BOB
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 470 BOB per month with 36 BOB being the minimum spent amount and 4,700 BOB being the maximum.

Other Expenses14%

14% of total expenses on average (9% to 21%)

LOW$11   79 BOB
AVERAGE$150   1,000 BOB
HIGH$1,500   10,000 BOB
Per Month

How much money can you save in Sucre 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 Sucre manage to save money from their income every month?


Saving Money
54%
Not Saving
46%

Almost 54% of the surveyed people in Sucre said that they can save some money at the end of each month while 46% said that aren't saving anything.


Percentage of people saving money by population group in Sucre

GroupSaversNon Savers
Singles62%38%
Couples57%43%
Families52%48%

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

8.6% 16% of income 28%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

210 BOB
$31
2,700 BOB
$400
27,000 BOB
$4,000
MINIMUM AVERAGE MAXIMUM

For most people, 8.6% to 28% of their monthly income is what they can allocate to their savings, with 16% being the average. The amount of money that people can save is approximately 2,700 BOB on average with savings ranging from 210 BOB to 27,000 BOB.

62% of surveyed singles reported some of their income going to savings while 57% of couples said the same. 52% of families confirmed their ability to save money.


How much money do people actually save in Sucre?

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

12% 20% of income 30%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

630 BOB
$92
1,900 BOB
$270
13,000 BOB
$1,800
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

Saving To Income Ratio% Singles
0% - 10%31%
10% - 20%25%
20% - 30%16%
30% - 40%14%
40% - 50%10%
> 50%4%

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 12% to 30% of their monthly income to savings, with 20% being the average for most singles. The average amount of money that singles are able to save is 1,900 BOB with 630 BOB and 13,000 BOB being the minimum and maximum respectively.


Couples

Saving to Income Ratio

9.6% 18% of income 29%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

1,100 BOB
$150
3,200 BOB
$460
17,000 BOB
$2,400
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%35%
10% - 20%27%
20% - 30%19%
30% - 40%9%
40% - 50%7%
> 50%3%

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 9.6% to 29% of their monthly income, with 18% being the average for most couples. The average amount of money that couples can save is 3,200 BOB with 1,100 BOB and 17,000 BOB being the minimum and maximum respectively.


Families

Saving to Income Ratio

8.6% 15% of income 27%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

1,500 BOB
$210
4,200 BOB
$610
23,000 BOB
$3,400
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%38%
10% - 20%30%
20% - 30%20%
30% - 40%6%
40% - 50%4%
> 50%2%

Interpretation and Analysis

Families in Sucre can save anywhere between 8.6% to 27% of their monthly income, with 15% being the average for most families. The average amount of money that families can put aside is 4,200 BOB with 1,500 BOB and 23,000 BOB 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 Sucre

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Sucre?


Yes
57%
No
43%

Around 57% of surveyed residents think that living in Sucre is affordable with proper budgeting while 43% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Sucre

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 options54%

Few low-cost options47%


Based on the survey, 54% of the people living in Sucre have no problem finding low-cost alternatives to support a frugal lifestyle while 47% 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 Sucre whether they have an emergency fund and the answers were as follows.

Yes54%

No47%


Based on the survey, 47% of the people living in Sucre said that they don't have an emergency fund while 54% 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 residents of Bolivia 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 residents of Bolivia have problems or difficulties in managing their expenditures and savings so asked the 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%

Financial goals of people in Sucre

In an attempt to understand the economic situation in Sucre, 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 Reduction41%
Retirement Savings10%
Education Funding7%
Homeownership18%
Investing7%
Travel or Lifestyle7%
Healthcare Expenses13%
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 41% said their number one priority is to pay off high-interest debt or loans and improve credit. 10% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 7% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 7% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 13% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Saving Challenges in Sucre

Reasons that make it difficult for people to save money

We wanted to understand what is stopping people from maximizing their savings in Sucre. Listed below are the answers given by the survey participants.


Reason% People
Low Income5%
High Expenses8%
Debt and Loans14%
Lack of Budgeting Skills11%
Impulsive Spending11%
Financial Emergencies7%
Living the moment6%
Will do it later20%
Inflation13%
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. 14% of the residents said that they are burdened with debt and find it challenging to save money. 11% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 11% blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 20% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 13% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or societal expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Typical saving choices for people in Sucre

Where do people choose to put their savings?


Saving Type% People
Emergency Funds12%
Gold12%
Savings Accounts17%
Retirement Accounts10%
Cash Savings20%
Real Estate9%
Investment5%
Stocks4%
Bonds5%
Mutual Funds2%
Certificates of Deposit3%

Retirement, pension plans, and life after work in Sucre

What does the retirement lifestyle look like in Sucre and how much retirement savings are required?

Retirement age

The retirement age for most employees in Bolivia 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 Sucre:
AgeAmount
2521,000 BOB
3042,000 BOB
3574,000 BOB
40110,000 BOB
45160,000 BOB
50220,000 BOB
55270,000 BOB
60330,000 BOB
65390,000 BOB

Retirement Income Distribution

We asked residents of Sucre about their retirement income sources and below are the results.

Source% People
Pensions12%
Savings23%
Investments12%
Social Security7%
Annuities7%
Part-time Job14%
Real Estate18%
Dividends and Interest7%

Retirement Monthly Expenses in Sucre

1,300 BOB
$190
4,000 BOB
$580
27,000 BOB
$3,800
MINIMUM AVERAGE MAXIMUM

Debt, loans, and mortgages in Sucre


Percentage of people who are in debt


In Debt
31%
Debt Free
69%

According to the survey, 31% of the people in Sucre have some kind of debt, loan, mortgage, or credit card payments while 69% reported that they don't have financial obligations to banks.


Debt-to-income ratio in Sucre

Debt to income ratio

29%

21% to 37%

( monthly debt payment / monthly income ) x 100

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 29% of the people's monthly income in Sucre goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%17%
40% - 50%14%
30% - 40%16%
20% - 30%11%
10% - 20%13%
0% - 10%26%

According to our data, 3% of the debtors in Sucre pay 60%+ of their income as debt settlement while 17% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 14% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 16% dedicated 30% to 40% of income for same. Things are looking brighter for 11% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Sucre

Debt% People
Real Estate Mortgage9%
Auto Loan16%
Student Loan4%
Credit Card29%
Personal Loan42%

9% of debtors in Sucre confirm that real estate mortgages constitutes the main part of their outstanding debt while 29% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 16% of people and personal loans rose at 42%. Lastly, student loans are the main source of debt for 4% of debtors in Sucre.


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 Sucre

Besides measuring the loan-to-income ratio, we asked residents of Sucre 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
Never51%
Once a year24%
Twice a year12%
Three times a year9%
Four times a year4%

Housing costs, accommodation, and housing affordability in Sucre

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


Rent Cost in Sucre

Monthly Rent Prices

Studio apartment
680 BOB 1,000 BOB 2,700 BOB
MINIMUM AVERAGE MAXIMUM
$99 $150 $390
1-bedroom apartment
1,000 BOB 1,600 BOB 4,100 BOB
MINIMUM AVERAGE MAXIMUM
$150 $240 $590
2-bedroom apartment
1,400 BOB 2,000 BOB 5,400 BOB
MINIMUM AVERAGE MAXIMUM
$200 $300 $790
3-bedroom apartment
1,600 BOB 2,700 BOB 7,400 BOB
MINIMUM AVERAGE MAXIMUM
$240 $390 $1,100
Furnished apartment
3,300 BOB 8,200 BOB 16,000 BOB
MINIMUM AVERAGE MAXIMUM
$470 $1,200 $2,400
Townhouse
2,700 BOB 4,100 BOB 12,000 BOB
MINIMUM AVERAGE MAXIMUM
$390 $590 $1,700
House
3,300 BOB 8,200 BOB 16,000 BOB
MINIMUM AVERAGE MAXIMUM
$470 $1,200 $2,400
Villa
4,100 BOB 10,000 BOB 16,000 BOB
MINIMUM AVERAGE MAXIMUM
$590 $1,500 $2,400

The monthly rental cost of a studio apartment in Sucre ranges between 680 BOB and 2,700 BOB, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 1,000 BOB to 4,100 BOB. Two-bedroom rentals rate ranges between 1,400 BOB and 5,400 BOB per month. The monthly rental for a three-bedroom apartment ranges from 1,600 BOB to 7,400 BOB. The average rent of a townhouse in Sucre is around 4,100 BOB while house rental costs can be as high as 8,200 BOB per month. Finally, if you want to rent a villa, expect to pay anywhere from 4,100 BOB to 16,000 BOB per month.



Apartment and house prices in Sucre

Cost of buying a property

Studio apartment
140,000 BOB 200,000 BOB 410,000 BOB
MINIMUM AVERAGE MAXIMUM
$20,000 $30,000 $59,000
1-bedroom apartment
160,000 BOB 270,000 BOB 1M BOB
MINIMUM AVERAGE MAXIMUM
$24,000 $39,000 $150,000
2-bedroom apartment
270,000 BOB 820,000 BOB 1.6M BOB
MINIMUM AVERAGE MAXIMUM
$39,000 $120,000 $240,000
3-bedroom apartment
910,000 BOB 1.4M BOB 4.1M BOB
MINIMUM AVERAGE MAXIMUM
$130,000 $200,000 $590,000
Townhouse
1.2M BOB 2.7M BOB 10M BOB
MINIMUM AVERAGE MAXIMUM
$170,000 $390,000 $1.5M
House
1.4M BOB 8.2M BOB 12M BOB
MINIMUM AVERAGE MAXIMUM
$200,000 $1.2M $1.7M
Villa
1.6M BOB 9.1M BOB 14M BOB
MINIMUM AVERAGE MAXIMUM
$240,000 $1.3M $2M

The average price of a studio apartment in Sucre can range from 140,000 BOB to 410,000 BOB depending on location. One bedroom cost can be anywhere from 160,000 BOB to 1M BOB. A villa can cost you 9.1M BOB on average with prices ranging from 1.6M BOB to 14M BOB.


If you're leasing or purchasing, housing costs in Sucre 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


34 x98 monthly income 193
MINIMUM AVERAGE MAXIMUM

Property prices in Sucre can be x98 to x193 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x98 multiples of the average monthly salary in Sucre.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


19% 29% of income 38%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Sucre is around 29%. This means that people pay 29% of their income for rent. Those figures can range from 19% to 38% 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
26%

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%
AVERAGE
3%
TO
3.9%

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.


12 BOB 160 BOB 1,600 BOB
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 Sucre

Housing30%

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

LOW$95   650 BOB
AVERAGE$280   2,000 BOB
HIGH$1,900   13,000 BOB
Per Month

Utilities, Electricity, Water8%

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

LOW$16   110 BOB
AVERAGE$47   330 BOB
HIGH$320   2,200 BOB
Per Month

Transport, Fuel5%

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

LOW$21   150 BOB
AVERAGE$63   440 BOB
HIGH$420   2,900 BOB
Per Month

Food and Groceries19%

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

LOW$42   290 BOB
AVERAGE$130   870 BOB
HIGH$840   5,800 BOB
Per Month

Healthcare12%

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

LOW$24   160 BOB
AVERAGE$71   490 BOB
HIGH$470   3,300 BOB
Per Month

Leisure, Shopping3%

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

LOW$13   91 BOB
AVERAGE$40   270 BOB
HIGH$260   1,800 BOB
Per Month

Education1%

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

LOW$5.3   36 BOB
AVERAGE$16   110 BOB
HIGH$110   730 BOB
Per Month

Other Expenses22%

22% of total expenses on average (14% to 26%)

LOW$47   330 BOB
AVERAGE$140   980 BOB
HIGH$950   6,500 BOB
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Sucre

Housing27%

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

LOW$140   1,000 BOB
AVERAGE$430   3,000 BOB
HIGH$2,300   16,000 BOB
Per Month

Utilities, Electricity, Water7%

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

LOW$22   150 BOB
AVERAGE$66   450 BOB
HIGH$350   2,400 BOB
Per Month

Transport, Fuel9%

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

LOW$53   360 BOB
AVERAGE$160   1,100 BOB
HIGH$840   5,800 BOB
Per Month

Food and Groceries17%

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

LOW$61   420 BOB
AVERAGE$180   1,300 BOB
HIGH$980   6,800 BOB
Per Month

Healthcare14%

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

LOW$48   330 BOB
AVERAGE$140   1,000 BOB
HIGH$770   5,300 BOB
Per Month

Leisure, Shopping4%

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

LOW$26   180 BOB
AVERAGE$79   550 BOB
HIGH$420   2,900 BOB
Per Month

Education1%

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

LOW$8.8   61 BOB
AVERAGE$26   180 BOB
HIGH$140   970 BOB
Per Month

Other Expenses21%

21% of total expenses on average (15% to 27%)

LOW$75   520 BOB
AVERAGE$220   1,500 BOB
HIGH$1,200   8,200 BOB
Per Month


Family
Average monthly expenses and break out of spending for families living in Sucre

Housing26%

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

LOW$200   1,400 BOB
AVERAGE$560   3,900 BOB
HIGH$3,100   21,000 BOB
Per Month

Transport, Fuel5%

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

LOW$49   340 BOB
AVERAGE$140   970 BOB
HIGH$770   5,300 BOB
Per Month

Food and Groceries21%

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

LOW$110   760 BOB
AVERAGE$320   2,200 BOB
HIGH$1,700   12,000 BOB
Per Month

Healthcare11%

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

LOW$49   340 BOB
AVERAGE$140   970 BOB
HIGH$770   5,300 BOB
Per Month

Leisure, Shopping3%

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

LOW$31   210 BOB
AVERAGE$88   610 BOB
HIGH$480   3,300 BOB
Per Month

Education13%

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

LOW$86   590 BOB
AVERAGE$250   1,700 BOB
HIGH$1,400   9,300 BOB
Per Month

Other Expenses16%

16% of total expenses on average (9% to 21%)

LOW$74   510 BOB
AVERAGE$210   1,500 BOB
HIGH$1,200   8,000 BOB
Per Month


Student
Cost of living and expenses break down for students living in Sucre

Housing18%

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

LOW$51   350 BOB
AVERAGE$130   880 BOB
HIGH$230   1,600 BOB
Per Month

Utilities, Electricity, Water6%

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

LOW$8.5   59 BOB
AVERAGE$21   150 BOB
HIGH$38   260 BOB
Per Month

Transport, Fuel4%

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

LOW$15   100 BOB
AVERAGE$37   260 BOB
HIGH$67   460 BOB
Per Month

Food and Groceries23%

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

LOW$43   290 BOB
AVERAGE$110   740 BOB
HIGH$190   1,300 BOB
Per Month

Healthcare9%

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

LOW$13   88 BOB
AVERAGE$32   220 BOB
HIGH$58   400 BOB
Per Month

Leisure, Shopping3%

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

LOW$11   74 BOB
AVERAGE$27   180 BOB
HIGH$48   330 BOB
Per Month

Education18%

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

LOW$40   280 BOB
AVERAGE$100   700 BOB
HIGH$180   1,300 BOB
Per Month

Other Expenses19%

19% of total expenses on average (13% to 25%)

LOW$32   220 BOB
AVERAGE$80   550 BOB
HIGH$140   990 BOB
Per Month
©copound