Cost Of Living in Thailand 2024

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

Whether you're living in Thailand 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.

Singles

The average monthly expense for a single person living in Thailand is 63,000 THB. Expenses can range from 9,000 THB at the minimum level to 420,000 THB at the highest end.

Couples

The average monthly spending of couples in Thailand is 110,000 THB. Expenditure can range from 35,000 THB to 560,000 THB per month.

Families

The average cost of living for families in Thailand is 140,000 THB per month. Families spend anywhere from 49,000 THB to 910,000 THB.

Students

The average monthly expenditure for students in Thailand is 46,000 THB. Students spend from 7,000 THB to 300,000 THB per month.

Expenditure to Income Ratio in Thailand

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.

Expense to income distribution levels

Interpretation and Analysis

The average spending-to-salary ratio in Thailand is 83% This means that on average, people spend around 83% of their income for living. According to the distribution table, 18% of the population spend approximately 60% to 70% of their income every month.

Individual
75%
Spending-Income-Ratio

---

67%

83%

Couple
79%
Spending-Income-Ratio

---

70%

87%

Family
87%
Spending-Income-Ratio

---

78%

97%

How do people spend their money in Thailand?

We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.

People living in Thailand typically spend from 16% to 35% of their total monthly expenditure on housing with 27% being the average. The average spend on housing is 27,000 THB with expenditure ranging from 2,100 THB to 270,000 THB. 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.

Utility expenditure like electricity, water, and gas in Thailand ranges from 3% to 10% of total expenses with 6% being the average. The average monthly cost of utilities is 4,600 THB with 350 THB and 46,000 THB being the upper and lower limits.

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 700 THB to 91,000 THB on commuting with 9,100 THB being the norm for most people in one month. This means that money spent on transport constitutes about 9% of total spending on average but can go as low as 4% or as high as 13%.

The average outlay on groceries in a month in Thailand is 23,000 THB. The cost of groceries can range between 1,800 THB to 230,000 THB. People spend on average about 26% on food and groceries with upper and lower bounds of 18% and 32% respectively.

People in Thailand allocate 3% to 11% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 8%. The range of medical expenses range from 490 THB to 64,000 THB with 6,400 THB being the norm.

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 280 THB to 37,000 THB with 3,700 THB being the average. Speaking of percentages, that equates to 3% to 10% of total expenses with an average of 6% for most residents.

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 6% of the monthly expenditure with 4% and 12% being the lower and upper bounds respectively. The average reported education cost is 5,500 THB per month with 420 THB being the minimum spent amount and 55,000 THB being the maximum.

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

Almost 68% of the surveyed people in Thailand said that they can save some money at the end of each month while 32% said that aren't saving anything.

Percentage of people saving money by population group in Thailand

Saving to Income Ratio

Average Monthly Saved Amount

For most people, 11% to 31% of their monthly income is what they can allocate to their savings, with 19% being the average. The amount of money that people can save is approximately 35,000 THB on average with savings ranging from 2,700 THB to 350,000 THB.

71% of surveyed singles reported some of their income going to savings while 66% of couples said the same. 61% of families confirmed their ability to save money.

How much money do people actually save in Thailand?

Singles

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for singles

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 14% to 33% of their monthly income to savings, with 23% being the average for most singles. The average amount of money that singles are able to save is 25,000 THB with 2,700 THB and 160,000 THB being the minimum and maximum respectively.

Couples

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 12% to 32% of their monthly income, with 21% being the average for most couples. The average amount of money that couples can save is 41,000 THB with 14,000 THB and 220,000 THB being the minimum and maximum respectively.

Families

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for families

Interpretation and Analysis

Families in Thailand can save anywhere between 11% to 29% of their monthly income, with 18% being the average for most families. The average amount of money that families can put aside is 55,000 THB with 19,000 THB and 350,000 THB being the minimum and maximum respectively.

Saving Challenges in Thailand

Reasons that make it difficult for people to save money

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

Around 7% of the people said that their salary is too low to accommodate a portion for savings while 10% said that the high cost of living leaves little room for savings. 19% of the residents said that they are burdened with debt and find it challenging to save money. 10% 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. 9% blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 7% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 16% 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. 10% 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 social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Typical saving choices for people in Thailand

Where do people choose to put their savings?

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 Thailand

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Thailand?

Around 74% of surveyed residents think that living in Thailand is affordable with proper budgeting while 26% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Thailand

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 options61%

Few low-cost options39%

Based on the survey, 61% of the people living in Thailand 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

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 Thailand whether they have an emergency fund and the answers were as follows.

Yes73%

No27%

Based on the survey, 27% of the people living in Thailand said that they don't have an emergency fund while 73% said that they do.

Financial Literacy in Thailand

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 Leteracy69%

We asked residents of Thailand whether they acquired any adequate personal financial training in their lives. Approximately 31% 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 69% 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 Thailand have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 25% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 75% said that they have everything under control.

Struggles with finance25%

Easily manages finances75%

Financial goals of people in Thailand

In an attempt to understand the economic situation in Thailand, 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.

Around 6% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 31% said their number one priority is to pay off high-interest debt or loans and improve credit. 7% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 9% reported that their priority is saving for the tuition fees and education costs of their children while 16% choose to buy a home or pay off existing mortgage before other things. 9% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 11% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 8% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Retirement, pension plans, and life after work in Thailand

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

Retirement age

The retirement age for most employees in Thailand 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.

Retirement Income Distribution

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

Retirement Monthly Expenses in Thailand

Debt, loans, and mortgages in Thailand

Percentage of people who are in debt

According to the survey, 25% of the people in Thailand have some kind of debt, loan, mortgage, or credit card payments while 75% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Thailand

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 28% of the people's monthly income in Thailand goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Thailand pay 60%+ of their income as debt settlement while 11% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 11% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 13% dedicated 30% to 40% of income for same. Things are looking brighter for 16% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Thailand

14% of debtors in Thailand confirm that real estate mortgages constitutes the main part of their outstanding debt while 24% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 24% of people and personal loans rose at 36%. Lastly, student loans are the main source of debt for 3% of debtors in Thailand.

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 Thailand

Besides measuring the loan-to-income ratio, we asked residents of Thailand 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.

Housing costs, accommodation, and housing affordability in Thailand

Rent Cost in Thailand

Monthly Rent Prices

Studio apartment monthly rent cost

8,100 THB

12,000 THB

33,000 THB

MINIMUM

AVERAGE

MAXIMUM

$230

$340

$910

1-bedroom apartment monthly rent cost

12,000 THB

20,000 THB

49,000 THB

MINIMUM

AVERAGE

MAXIMUM

$340

$540

$1,400

2-bedroom apartment monthly rent cost

16,000 THB

24,000 THB

65,000 THB

MINIMUM

AVERAGE

MAXIMUM

$450

$680

$1,800

3-bedroom apartment monthly rent cost

20,000 THB

33,000 THB

89,000 THB

MINIMUM

AVERAGE

MAXIMUM

$540

$910

$2,500

Furnished apartment monthly rent cost

39,000 THB

98,000 THB

200,000 THB

MINIMUM

AVERAGE

MAXIMUM

$1,100

$2,700

$5,400

Townhouse monthly rent cost

33,000 THB

49,000 THB

140,000 THB

MINIMUM

AVERAGE

MAXIMUM

$910

$1,400

$3,900

House monthly rent cost

39,000 THB

98,000 THB

200,000 THB

MINIMUM

AVERAGE

MAXIMUM

$1,100

$2,700

$5,400

Villa monthly rent cost

49,000 THB

120,000 THB

200,000 THB

MINIMUM

AVERAGE

MAXIMUM

$1,400

$3,400

$5,400

The monthly rental cost of a studio apartment in Thailand ranges between 8,100 THB and 33,000 THB, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 12,000 THB to 49,000 THB. Two-bedroom rentals rate ranges between 16,000 THB and 65,000 THB per month. The monthly rental for a three-bedroom apartment ranges from 20,000 THB to 89,000 THB. The average rent of a townhouse in Thailand is around 49,000 THB while house rental costs can be as high as 98,000 THB per month. Finally, if you want to rent a villa, expect to pay anywhere from 49,000 THB to 200,000 THB per month.

Apartment and house prices in Thailand

Cost of buying a property

Studio apartment price

1.6M THB

2.4M THB

4.9M THB

MINIMUM

AVERAGE

MAXIMUM

$45,000

$68,000

$140,000

1-bedroom apartment price

2M THB

3.3M THB

12M THB

MINIMUM

AVERAGE

MAXIMUM

$54,000

$91,000

$340,000

2-bedroom apartment price

3.3M THB

9.8M THB

20M THB

MINIMUM

AVERAGE

MAXIMUM

$91,000

$270,000

$540,000

3-bedroom apartment price

11M THB

16M THB

49M THB

MINIMUM

AVERAGE

MAXIMUM

$300,000

$450,000

$1.4M

Townhouse price

14M THB

33M THB

120M THB

MINIMUM

AVERAGE

MAXIMUM

$390,000

$910,000

$3.4M

House price

16M THB

98M THB

140M THB

MINIMUM

AVERAGE

MAXIMUM

$450,000

$2.7M

$3.9M

Villa price

20M THB

110M THB

160M THB

MINIMUM

AVERAGE

MAXIMUM

$540,000

$3M

$4.5M

The average price of a studio apartment in Thailand can range from 1.6M THB to 4.9M THB depending on location. One bedroom cost can be anywhere from 2M THB to 12M THB. A villa can cost you 110M THB on average with prices ranging from 20M THB to 160M THB.

House / apartment prices to income ratio

Property prices in Thailand can be x122 to x213 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x122 multiples of the average monthly salary in Thailand.

Rent to income ratio

The average rent-to-income ratio in Thailand is around 32%. This means that people pay 32% of their income for rent. Those figures can range from 22% to 42% 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 Thailand

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

Utility Bill Cost / Electricity + Water + Gas / Individual

540 THB

3,800 THB

25,000 THB

MINIMUM

AVERAGE

MAXIMUM

$15

$110

$710

Utility Bill Cost / Electricity + Water + Gas / Couple

1,400 THB

4,700 THB

31,000 THB

MINIMUM

AVERAGE

MAXIMUM

$39

$130

$860

Utility Bill Cost / Electricity + Water + Gas / Family

2,500 THB

7,000 THB

46,000 THB

MINIMUM

AVERAGE

MAXIMUM

$69

$200

$1,300

Internet and cable cost

490 THB

980 THB

1,300 THB

MINIMUM

AVERAGE

MAXIMUM

$14

$27

$36

Mobile phone bill and charges

390 THB

650 THB

2,000 THB

MINIMUM

AVERAGE

MAXIMUM

$11

$18

$54

The average monthly expenditure for individuals on electricty, water, and gas in Thailand ranges between 540 THB and 25,000 THB with average being 3,800 THB, meanwhile the expenditure of couples is slightly higher at 4,700 THB with 1,400 THB and 31,000 THB being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 7,000 THB. The cost of internet and WiFi is unchanged among the three groups and ranges from 490 THB to 1,300 THB with 980 THB being the average internet bill. Finally, the average monthly mobile charges is around 650 THB but can range between 390 THB and 2,000 THB 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 Thailand is around 5%. This means that people pay 5% of their income for energy, water, internet, and mobile charges. Those figures can range from 2% to 9% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Thailand

Prices and cost of goods and services in Thailand

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

Fast food combo meal price

98 THB

200 THB

330 THB

MINIMUM

AVERAGE

MAXIMUM

$2.7

$5.4

$9.1

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Thailand is approximatly 200 THB with meal cost ranging from 98 THB to 330 THB. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

330 THB

490 THB

980 THB

MINIMUM

AVERAGE

MAXIMUM

$9.1

$14

$27

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 330 THB and 980 THB with 490 THB being the average price of a plate for one person at a regular restaurant in Thailand.

Fine dining meal for one price

650 THB

980 THB

3,900 THB

MINIMUM

AVERAGE

MAXIMUM

$18

$27

$110

The price range of a meal at fine-dining restaurant is 650 THB to 3,900 THB with the average cost being 980 THB for one person. This is what you would expect to pay a top-tier diner in Thailand.

Beverage prices, cappuccino, latte etc..

81 THB

130 THB

200 THB

MINIMUM

AVERAGE

MAXIMUM

$2.3

$3.6

$5.4

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Thailand is around 130 THB. Price ranges between 81 THB and 200 THB depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

65 THB

78 THB

98 THB

MINIMUM

AVERAGE

MAXIMUM

$1.8

$2.2

$2.7

The average price of a large bottle of milk in Thailand is 78 THB. The maximum what you would pay for milk is 98 THB and the minimum being 65 THB depending on the brand of milk and other properties.

12 eggs price

49 THB

65 THB

98 THB

MINIMUM

AVERAGE

MAXIMUM

$1.4

$1.8

$2.7

A dozen eggs costs around 65 THB on average with 49 THB and 98 THB being the lower and upper limits respectively.

Fresh whole chicken price

110 THB

140 THB

200 THB

MINIMUM

AVERAGE

MAXIMUM

$3.1

$4

$5.7

The price range of a fresh whole chicken in Thailand is between 110 THB and 200 THB depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 140 THB.

Pack of beef price

130 THB

200 THB

390 THB

MINIMUM

AVERAGE

MAXIMUM

$3.6

$5.4

$11

The price of a regular pack of beef or meat is around 200 THB. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

52 THB

72 THB

100 THB

MINIMUM

AVERAGE

MAXIMUM

$1.5

$2

$2.8

A bag of rice in Thailand costs around 72 THB on average with prices rangeing between 52 THB and 100 THB depending on the brand and quality.

Bag of tomatos price

20 THB

26 THB

49 THB

MINIMUM

AVERAGE

MAXIMUM

$0.54

$0.73

$1.4

A bag of tomatoes costs anywhere from 20 THB to 49 THB. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

35 THB

46 THB

75 THB

MINIMUM

AVERAGE

MAXIMUM

$0.97

$1.3

$2.1

A bag of apples costs 46 THB 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 Thailand is around 25%. This means that people spend 25% of their income on grocery and basic household items. The expenditure can range from 17% to 31% depending on salary and location.

Expenditure on food and grocery for every population group

A single person living alone spends approximately 10,000 THB per month on grocery and food with expenditure fluctuating between 1,400 THB and 67,000 THB depending on location and the type of person. The average cost of food and groceries for a couple is around 15,000 THB per month. That number can be get as low as 4,900 THB or a high as 79,000 THB. Families' spending on grocery ranges from 8,800 THB to 160,000 THB with the location, income, and size of the family being the most determinite factors.

SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Thailand

CoupleAverage monthly living expenditure breaks and spending patterns for couples in Thailand

FamilyAverage monthly expenses and break out of spending for families living in Thailand

StudentCost of living and expenses break down for students living in Thailand