Cost Of Living in Um Al Quiwain 2024

Average monthly spending for singles, couples, students, and families in Um Al Quiwain

Whether you're living in Um Al Quiwain 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

12,000 AED

per month
$3,400

960 AED   $260
$34,000   120,000 AED

Single

8,600 AED

per month
$2,400

2,900 AED   $780
$16,000   58,000 AED

Couple

14,000 AED

per month
$3,900

4,800 AED   $1,300
$21,000   77,000 AED

Family

19,000 AED

per month
$5,200

6,700 AED   $1,800
$29,000   110,000 AED

Student

6,000 AED

per month
$1,600

2,400 AED   $660
$3,000   11,000 AED
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Um Al Quiwain is 8,600 AED. Expenses can range from 2,900 AED at the minimum level to 58,000 AED at the highest end.


Couples

The average monthly spending of couples in Um Al Quiwain is 14,000 AED. Expenditure can range from 4,800 AED to 77,000 AED per month.


Families

The average cost of living for families in Um Al Quiwain is 19,000 AED per month. Families spend anywhere from 6,700 AED to 110,000 AED.


Students

The average monthly expenditure for students in Um Al Quiwain is 6,000 AED. Students spend from 2,400 AED to 11,000 AED 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 Um Al Quiwain


Dining, food, and beverages costs


Large bottle of water
1.8 AED 2 AED 2.3 AED
MINIMUM AVERAGE MAXIMUM
$0.48 $0.55 $0.63
Fast food combo meal
15 AED 30 AED 50 AED
MINIMUM AVERAGE MAXIMUM
$4.1 $8.2 $14
Restaurant meal for one
48 AED 71 AED 140 AED
MINIMUM AVERAGE MAXIMUM
$13 $19 $39
Fine dining meal for one
95 AED 140 AED 570 AED
MINIMUM AVERAGE MAXIMUM
$26 $39 $160
Soda or Soft Drink
2.2 AED 2.5 AED 3 AED
MINIMUM AVERAGE MAXIMUM
$0.59 $0.68 $0.82
Cappuccino or latte
13 AED 20 AED 30 AED
MINIMUM AVERAGE MAXIMUM
$3.4 $5.5 $8.2

Grocery and market costs


Milk large bottle
10 AED 12 AED 15 AED
MINIMUM AVERAGE MAXIMUM
$2.7 $3.3 $4.1
Loaf of bread
1.8 AED 2.1 AED 2.4 AED
MINIMUM AVERAGE MAXIMUM
$0.49 $0.56 $0.65
12 eggs
7.5 AED 10 AED 15 AED
MINIMUM AVERAGE MAXIMUM
$2.1 $2.7 $4.1
Fresh whole chicken
17 AED 22 AED 31 AED
MINIMUM AVERAGE MAXIMUM
$4.7 $6 $8.6
Beef 1 kg or 1 lb
20 AED 30 AED 60 AED
MINIMUM AVERAGE MAXIMUM
$5.5 $8.2 $16
Rice 1 kg or 1 lb
8.1 AED 11 AED 16 AED
MINIMUM AVERAGE MAXIMUM
$2.2 $3 $4.3
Tomato 1 kg or 1 lb
3 AED 4 AED 7.5 AED
MINIMUM AVERAGE MAXIMUM
$0.82 $1.1 $2.1
Apples 1 kg or 1 lb
5.4 AED 7 AED 12 AED
MINIMUM AVERAGE MAXIMUM
$1.5 $1.9 $3.2

Commute, travel, and transportation costs


20 minutes taxi ride
12 AED 14 AED 29 AED
MINIMUM AVERAGE MAXIMUM
$3.2 $3.9 $7.8
Average car full tank
75 AED 100 AED 200 AED
MINIMUM AVERAGE MAXIMUM
$21 $27 $55
Average car 1-day rental
67 AED 90 AED 130 AED
MINIMUM AVERAGE MAXIMUM
$18 $24 $37
Average car price
38,000 AED 75,000 AED 100,000 AED
MINIMUM AVERAGE MAXIMUM
$10,000 $21,000 $27,000
Bus ticket one way
2.2 AED 3.4 AED 6.7 AED
MINIMUM AVERAGE MAXIMUM
$0.61 $0.91 $1.8
Car Service
90 AED 130 AED 270 AED
MINIMUM AVERAGE MAXIMUM
$24 $37 $73

Utility cost (monthly)


Utility Bill - Individual
170 AED 520 AED 3,500 AED
MINIMUM AVERAGE MAXIMUM
$47 $140 $940
Utility Bill - Couple
240 AED 720 AED 3,800 AED
MINIMUM AVERAGE MAXIMUM
$65 $200 $1,000
Utility Bill - Family
200 AED 580 AED 3,200 AED
MINIMUM AVERAGE MAXIMUM
$55 $160 $860
Internet and cable
75 AED 150 AED 200 AED
MINIMUM AVERAGE MAXIMUM
$21 $41 $55
Mobile phone charges
60 AED 100 AED 300 AED
MINIMUM AVERAGE MAXIMUM
$16 $27 $82

Leisure and activities costs


Movie ticket
38 AED 50 AED 75 AED
MINIMUM AVERAGE MAXIMUM
$10 $14 $21
One month gym membership
110 AED 130 AED 270 AED
MINIMUM AVERAGE MAXIMUM
$29 $37 $73

Cloths and accessories costs


Pair of jeans or pants
79 AED 110 AED 170 AED
MINIMUM AVERAGE MAXIMUM
$22 $30 $46
Woman dress
75 AED 100 AED 340 AED
MINIMUM AVERAGE MAXIMUM
$20 $28 $91
Woman shoes
71 AED 96 AED 220 AED
MINIMUM AVERAGE MAXIMUM
$19 $26 $61
Men's shoes
61 AED 75 AED 150 AED
MINIMUM AVERAGE MAXIMUM
$17 $20 $41
Men suit
67 AED 84 AED 450 AED
MINIMUM AVERAGE MAXIMUM
$18 $23 $120
Regular t-shirt
34 AED 45 AED 130 AED
MINIMUM AVERAGE MAXIMUM
$9.1 $12 $37

Housing costs / monthly rent


Studio apartment
1,100 AED 1,700 AED 4,500 AED
MINIMUM AVERAGE MAXIMUM
$300 $460 $1,200
1-bedroom apartment
1,700 AED 2,700 AED 6,700 AED
MINIMUM AVERAGE MAXIMUM
$460 $730 $1,800
2-bedroom apartment
2,200 AED 3,400 AED 9,000 AED
MINIMUM AVERAGE MAXIMUM
$610 $910 $2,400

Housing costs / Buying


Studio apartment
220,000 AED 340,000 AED 670,000 AED
MINIMUM AVERAGE MAXIMUM
$61,000 $91,000 $180,000
1-bedroom apartment
270,000 AED 450,000 AED 1.7M AED
MINIMUM AVERAGE MAXIMUM
$73,000 $120,000 $460,000
2-bedroom apartment
450,000 AED 1.3M AED 2.7M AED
MINIMUM AVERAGE MAXIMUM
$120,000 $370,000 $730,000

Furniture Costs


King Size Bed
1,500 AED 1,900 AED 2,500 AED
MINIMUM AVERAGE MAXIMUM
$410 $510 $680
Double Bed
1,000 AED 1,500 AED 1,900 AED
MINIMUM AVERAGE MAXIMUM
$270 $410 $510
Single Bed
890 AED 1,200 AED 1,500 AED
MINIMUM AVERAGE MAXIMUM
$240 $320 $410
Living Room
1,700 AED 2,200 AED 7,500 AED
MINIMUM AVERAGE MAXIMUM
$460 $590 $2,100
Dining Table
750 AED 1,000 AED 1,900 AED
MINIMUM AVERAGE MAXIMUM
$210 $270 $510
Sofa or Couch
1,000 AED 1,400 AED 3,000 AED
MINIMUM AVERAGE MAXIMUM
$270 $370 $820

Electronics and House Appliance Costs


TV Set
1,000 AED 1,500 AED 3,000 AED
MINIMUM AVERAGE MAXIMUM
$270 $410 $820
Fridge or Freezer
890 AED 1,400 AED 1,900 AED
MINIMUM AVERAGE MAXIMUM
$240 $370 $510
Washing Machine
1,200 AED 1,700 AED 3,000 AED
MINIMUM AVERAGE MAXIMUM
$320 $460 $820
Stove or Cooker
1,100 AED 1,400 AED 1,900 AED
MINIMUM AVERAGE MAXIMUM
$290 $370 $510
Mobile Phone
1,300 AED 1,500 AED 2,200 AED
MINIMUM AVERAGE MAXIMUM
$340 $410 $590
Laptop or Computer
1,400 AED 1,700 AED 3,000 AED
MINIMUM AVERAGE MAXIMUM
$370 $460 $820

Expenditure to Income Ratio in Um Al Quiwain

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

74%

67% to 83%

( expenditure / income ) x 100


Expense to income distribution levels

Spending To Income Ratio% People
< 50%6%
50% - 60%11%
60% - 70%17%
70% - 80%26%
80% - 90%17%
90% - 100%9%
100% - 110%5%
110% - 120%3%
120% - 130%2%
130% - 140%2%
> 140%1%

Interpretation and Analysis

The average spending-to-salary ratio in Um Al Quiwain is 74% This means that on average, people spend around 74% of their income for living. According to the distribution table, 17% 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
67%
Spending-Income-Ratio
60%
75%

Couple
71%
Spending-Income-Ratio
64%
79%

Family
78%
Spending-Income-Ratio
71%
87%

How do people spend their money in Um Al Quiwain?

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 Expenditure26%

26% of total expenses on average (15% to 34%)

LOW$78   290 AED
AVERAGE$1,000   3,700 AED
HIGH$10,000   37,000 AED
Per Month

People living in Um Al Quiwain typically spend from 15% to 34% of their total monthly expenditure on housing with 26% being the average. The average spend on housing is 3,700 AED with expenditure ranging from 290 AED to 37,000 AED. 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$13   48 AED
AVERAGE$170   620 AED
HIGH$1,700   6,200 AED
Per Month

Utility expenditure like electricity, water, and gas in Um Al Quiwain ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 620 AED with 48 AED and 6,200 AED being the upper and lower limits.

Transport, Fuel, Commute8%

8% of total expenses on average (4% to 12%)

LOW$26   96 AED
AVERAGE$340   1,200 AED
HIGH$3,400   12,000 AED
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 96 AED to 12,000 AED on commuting with 1,200 AED being the norm for most people in one month. This means that money spent on transport constitutes about 8% of total spending on average but can go as low as 4% or as high as 12%.

Food and Groceries Cost27%

27% of total expenses on average (19% to 33%)

LOW$65   240 AED
AVERAGE$850   3,100 AED
HIGH$8,500   31,000 AED
Per Month

The average outlay on groceries in a month in Um Al Quiwain is 3,100 AED. The cost of groceries can range between 240 AED to 31,000 AED. People spend on average about 27% on food and groceries with upper and lower bounds of 19% and 33% respectively.

Healthcare and Medical Services9%

9% of total expenses on average (4% to 12%)

LOW$18   67 AED
AVERAGE$240   870 AED
HIGH$2,400   8,700 AED
Per Month

People in Um Al Quiwain allocate 4% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 9%. The range of medical expenses range from 67 AED to 8,700 AED with 870 AED being the norm.

Leisure and Shopping5%

5% of total expenses on average (3% to 9%)

LOW$10   38 AED
AVERAGE$140   500 AED
HIGH$1,400   5,000 AED
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 38 AED to 5,000 AED with 500 AED being the average. Speaking of percentages, that equates to 3% to 9% of total expenses with an average of 5% for most residents.

Education and Schooling6%

6% of total expenses on average (4% to 12%)

LOW$16   58 AED
AVERAGE$200   750 AED
HIGH$2,000   7,500 AED
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 6% of the monthly expenditure with 4% and 12% being the lower and upper bounds respectively. The average reported education cost is 750 AED per month with 58 AED being the minimum spent amount and 7,500 AED being the maximum.

Other Expenses12%

12% of total expenses on average (7% to 19%)

LOW$34   120 AED
AVERAGE$440   1,600 AED
HIGH$4,400   16,000 AED
Per Month

How much money can you save in Um Al Quiwain 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 Um Al Quiwain manage to save money from their income every month?


Saving Money
61%
Not Saving
39%

Almost 61% of the surveyed people in Um Al Quiwain said that they can save some money at the end of each month while 39% said that aren't saving anything.


Percentage of people saving money by population group in Um Al Quiwain

GroupSaversNon Savers
Singles64%37%
Couples59%41%
Families55%46%

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

9% 15% of income 27%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

380 AED
$100
5,000 AED
$1,400
50,000 AED
$14,000
MINIMUM AVERAGE MAXIMUM

For most people, 9% to 27% of their monthly income is what they can allocate to their savings, with 15% being the average. The amount of money that people can save is approximately 5,000 AED on average with savings ranging from 380 AED to 50,000 AED.

64% of surveyed singles reported some of their income going to savings while 59% of couples said the same. 55% of families confirmed their ability to save money.


How much money do people actually save in Um Al Quiwain?

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% 19% of income 29%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

1,100 AED
$310
3,400 AED
$940
23,000 AED
$6,300
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

Saving To Income Ratio% Singles
0% - 10%29%
10% - 20%23%
20% - 30%16%
30% - 40%16%
40% - 50%12%
> 50%4%

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 12% to 29% of their monthly income to savings, with 19% being the average for most singles. The average amount of money that singles are able to save is 3,400 AED with 1,100 AED and 23,000 AED being the minimum and maximum respectively.


Couples

Saving to Income Ratio

9.8% 17% of income 28%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

1,900 AED
$520
5,700 AED
$1,600
31,000 AED
$8,300
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%33%
10% - 20%25%
20% - 30%19%
30% - 40%11%
40% - 50%9%
> 50%3%

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 9.8% to 28% of their monthly income, with 17% being the average for most couples. The average amount of money that couples can save is 5,700 AED with 1,900 AED and 31,000 AED being the minimum and maximum respectively.


Families

Saving to Income Ratio

8.1% 14% of income 25%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

2,700 AED
$730
7,700 AED
$2,100
42,000 AED
$11,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%36%
10% - 20%28%
20% - 30%20%
30% - 40%8%
40% - 50%6%
> 50%2%

Interpretation and Analysis

Families in Um Al Quiwain can save anywhere between 8.1% to 25% of their monthly income, with 14% being the average for most families. The average amount of money that families can put aside is 7,700 AED with 2,700 AED and 42,000 AED 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 Um Al Quiwain

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Um Al Quiwain?


Yes
68%
No
32%

Around 68% of surveyed residents think that living in Um Al Quiwain is affordable with proper budgeting while 32% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Um Al Quiwain

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 options56%

Few low-cost options45%


Based on the survey, 56% of the people living in Um Al Quiwain 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

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 Um Al Quiwain whether they have an emergency fund and the answers were as follows.

Yes67%

No33%


Based on the survey, 33% of the people living in Um Al Quiwain said that they don't have an emergency fund while 67% said that they do.

Financial Literacy in United Arab Emirates

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 Leteracy71%


We asked residents of United Arab Emirates whether they acquired any adequate personal financial training in their lives. Approximately 29% 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 71% 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 United Arab Emirates have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 23% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 77% said that they have everything under control.

Struggles with finance23%

Easily manages finances77%

Financial goals of people in Um Al Quiwain

In an attempt to understand the economic situation in Um Al Quiwain, 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 Fund7%
Debt Reduction35%
Retirement Savings8%
Education Funding8%
Homeownership17%
Investing8%
Travel or Lifestyle10%
Healthcare Expenses10%
Financial Independence8%

Around 7% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 35% said their number one priority is to pay off high-interest debt or loans and improve credit. 8% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 8% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 10% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 10% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Saving Challenges in Um Al Quiwain

Reasons that make it difficult for people to save money

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


Reason% People
Low Income6%
High Expenses9%
Debt and Loans17%
Lack of Budgeting Skills11%
Impulsive Spending10%
Financial Emergencies6%
Living the moment6%
Will do it later18%
Inflation11%
Social Pressure3%
Market Instability3%

Around 6% of the people said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 17% 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. 10% 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. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 18% 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. 11% 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, 3% blamed market instability and price fluctuations.

Typical saving choices for people in Um Al Quiwain

Where do people choose to put their savings?


Saving Type% People
Emergency Funds11%
Gold11%
Savings Accounts17%
Retirement Accounts11%
Cash Savings17%
Real Estate10%
Investment6%
Stocks6%
Bonds6%
Mutual Funds3%
Certificates of Deposit3%

Retirement, pension plans, and life after work in Um Al Quiwain

What does the retirement lifestyle look like in Um Al Quiwain and how much retirement savings are required?

Retirement age

The retirement age for most employees in United Arab Emirates 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 Um Al Quiwain:
AgeAmount
2535,000 AED
3070,000 AED
35120,000 AED
40170,000 AED
45260,000 AED
50370,000 AED
55440,000 AED
60540,000 AED
65650,000 AED

Retirement Income Distribution

We asked residents of Um Al Quiwain about their retirement income sources and below are the results.

Source% People
Pensions13%
Savings22%
Investments13%
Social Security8%
Annuities8%
Part-time Job11%
Real Estate17%
Dividends and Interest8%

Retirement Monthly Expenses in Um Al Quiwain

2,100 AED
$560
6,200 AED
$1,700
41,000 AED
$11,000
MINIMUM AVERAGE MAXIMUM

Debt, loans, and mortgages in Um Al Quiwain


Percentage of people who are in debt


In Debt
22%
Debt Free
79%

According to the survey, 22% of the people in Um Al Quiwain have some kind of debt, loan, mortgage, or credit card payments while 79% reported that they don't have financial obligations to banks.


Debt-to-income ratio in Um Al Quiwain

Debt to income ratio

25%

18% to 34%

( 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 25% of the people's monthly income in Um Al Quiwain goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%13%
40% - 50%12%
30% - 40%14%
20% - 30%14%
10% - 20%17%
0% - 10%27%

According to our data, 3% of the debtors in Um Al Quiwain pay 60%+ of their income as debt settlement while 13% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 12% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 14% dedicated 30% to 40% of income for same. Things are looking brighter for 14% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Um Al Quiwain

Debt% People
Real Estate Mortgage12%
Auto Loan21%
Student Loan3%
Credit Card26%
Personal Loan38%

12% of debtors in Um Al Quiwain confirm that real estate mortgages constitutes the main part of their outstanding debt while 26% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 21% of people and personal loans rose at 38%. Lastly, student loans are the main source of debt for 3% of debtors in Um Al Quiwain.


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 Um Al Quiwain

Besides measuring the loan-to-income ratio, we asked residents of Um Al Quiwain 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
Never54%
Once a year22%
Twice a year12%
Three times a year8%
Four times a year4%

Housing costs, accommodation, and housing affordability in Um Al Quiwain

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


Rent Cost in Um Al Quiwain

Monthly Rent Prices

Studio apartment
1,100 AED 1,700 AED 4,500 AED
MINIMUM AVERAGE MAXIMUM
$300 $460 $1,200
1-bedroom apartment
1,700 AED 2,700 AED 6,700 AED
MINIMUM AVERAGE MAXIMUM
$460 $730 $1,800
2-bedroom apartment
2,200 AED 3,400 AED 9,000 AED
MINIMUM AVERAGE MAXIMUM
$610 $910 $2,400
3-bedroom apartment
2,700 AED 4,500 AED 12,000 AED
MINIMUM AVERAGE MAXIMUM
$730 $1,200 $3,300
Furnished apartment
5,400 AED 13,000 AED 27,000 AED
MINIMUM AVERAGE MAXIMUM
$1,500 $3,700 $7,300
Townhouse
4,500 AED 6,700 AED 19,000 AED
MINIMUM AVERAGE MAXIMUM
$1,200 $1,800 $5,200
House
5,400 AED 13,000 AED 27,000 AED
MINIMUM AVERAGE MAXIMUM
$1,500 $3,700 $7,300
Villa
6,700 AED 17,000 AED 27,000 AED
MINIMUM AVERAGE MAXIMUM
$1,800 $4,600 $7,300

The monthly rental cost of a studio apartment in Um Al Quiwain ranges between 1,100 AED and 4,500 AED, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 1,700 AED to 6,700 AED. Two-bedroom rentals rate ranges between 2,200 AED and 9,000 AED per month. The monthly rental for a three-bedroom apartment ranges from 2,700 AED to 12,000 AED. The average rent of a townhouse in Um Al Quiwain is around 6,700 AED while house rental costs can be as high as 13,000 AED per month. Finally, if you want to rent a villa, expect to pay anywhere from 6,700 AED to 27,000 AED per month.



Apartment and house prices in Um Al Quiwain

Cost of buying a property

Studio apartment
220,000 AED 340,000 AED 670,000 AED
MINIMUM AVERAGE MAXIMUM
$61,000 $91,000 $180,000
1-bedroom apartment
270,000 AED 450,000 AED 1.7M AED
MINIMUM AVERAGE MAXIMUM
$73,000 $120,000 $460,000
2-bedroom apartment
450,000 AED 1.3M AED 2.7M AED
MINIMUM AVERAGE MAXIMUM
$120,000 $370,000 $730,000
3-bedroom apartment
1.5M AED 2.2M AED 6.7M AED
MINIMUM AVERAGE MAXIMUM
$410,000 $610,000 $1.8M
Townhouse
1.9M AED 4.5M AED 17M AED
MINIMUM AVERAGE MAXIMUM
$520,000 $1.2M $4.6M
House
2.2M AED 13M AED 19M AED
MINIMUM AVERAGE MAXIMUM
$610,000 $3.7M $5.2M
Villa
2.7M AED 15M AED 22M AED
MINIMUM AVERAGE MAXIMUM
$730,000 $4.1M $6.1M

The average price of a studio apartment in Um Al Quiwain can range from 220,000 AED to 670,000 AED depending on location. One bedroom cost can be anywhere from 270,000 AED to 1.7M AED. A villa can cost you 15M AED on average with prices ranging from 2.7M AED to 22M AED.


If you're leasing or purchasing, housing costs in Um Al Quiwain 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


36 x104 monthly income 188
MINIMUM AVERAGE MAXIMUM

Property prices in Um Al Quiwain can be x104 to x188 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x104 multiples of the average monthly salary in Um Al Quiwain.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


20% 29% of income 38%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Um Al Quiwain is around 29%. This means that people pay 29% of their income for rent. Those figures can range from 20% 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
2.2%
AVERAGE
3.2%
TO
4.2%

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.


19 AED 250 AED 2,500 AED
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 Um Al Quiwain

Housing32%

32% of total expenses on average (20% to 44%)

LOW$280   1,000 AED
AVERAGE$850   3,100 AED
HIGH$5,600   21,000 AED
Per Month

Utilities, Electricity, Water8%

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

LOW$47   170 AED
AVERAGE$140   520 AED
HIGH$940   3,500 AED
Per Month

Transport, Fuel6%

6% of total expenses on average (4% to 12%)

LOW$63   230 AED
AVERAGE$190   690 AED
HIGH$1,300   4,600 AED
Per Month

Food and Groceries18%

18% of total expenses on average (12% to 23%)

LOW$130   460 AED
AVERAGE$380   1,400 AED
HIGH$2,500   9,200 AED
Per Month

Healthcare11%

11% of total expenses on average (5% to 15%)

LOW$71   260 AED
AVERAGE$210   780 AED
HIGH$1,400   5,200 AED
Per Month

Leisure, Shopping3%

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

LOW$39   140 AED
AVERAGE$120   430 AED
HIGH$780   2,900 AED
Per Month

Education2%

2% of total expenses on average (1% to 4%)

LOW$16   58 AED
AVERAGE$47   170 AED
HIGH$310   1,200 AED
Per Month

Other Expenses20%

20% of total expenses on average (12% to 24%)

LOW$140   520 AED
AVERAGE$420   1,600 AED
HIGH$2,800   10,000 AED
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Um Al Quiwain

Housing29%

29% of total expenses on average (22% to 39%)

LOW$430   1,600 AED
AVERAGE$1,300   4,800 AED
HIGH$6,900   25,000 AED
Per Month

Utilities, Electricity, Water7%

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

LOW$65   240 AED
AVERAGE$200   720 AED
HIGH$1,000   3,800 AED
Per Month

Transport, Fuel10%

10% of total expenses on average (4% to 15%)

LOW$160   580 AED
AVERAGE$470   1,700 AED
HIGH$2,500   9,200 AED
Per Month

Food and Groceries16%

16% of total expenses on average (11% to 21%)

LOW$180   670 AED
AVERAGE$550   2,000 AED
HIGH$2,900   11,000 AED
Per Month

Healthcare13%

13% of total expenses on average (7% to 17%)

LOW$140   530 AED
AVERAGE$430   1,600 AED
HIGH$2,300   8,400 AED
Per Month

Leisure, Shopping4%

4% of total expenses on average (2% to 7%)

LOW$78   290 AED
AVERAGE$240   860 AED
HIGH$1,300   4,600 AED
Per Month

Education2%

2% of total expenses on average (1% to 4%)

LOW$26   96 AED
AVERAGE$78   290 AED
HIGH$420   1,500 AED
Per Month

Other Expenses19%

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

LOW$220   820 AED
AVERAGE$670   2,400 AED
HIGH$3,600   13,000 AED
Per Month


Family
Average monthly expenses and break out of spending for families living in Um Al Quiwain

Housing28%

28% of total expenses on average (23% to 38%)

LOW$590   2,100 AED
AVERAGE$1,700   6,100 AED
HIGH$9,200   34,000 AED
Per Month

Transport, Fuel6%

6% of total expenses on average (4% to 8%)

LOW$150   540 AED
AVERAGE$420   1,500 AED
HIGH$2,300   8,400 AED
Per Month

Food and Groceries20%

20% of total expenses on average (13% to 26%)

LOW$330   1,200 AED
AVERAGE$940   3,500 AED
HIGH$5,200   19,000 AED
Per Month

Healthcare10%

10% of total expenses on average (6% to 15%)

LOW$150   540 AED
AVERAGE$420   1,500 AED
HIGH$2,300   8,400 AED
Per Month

Leisure, Shopping3%

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

LOW$91   340 AED
AVERAGE$260   960 AED
HIGH$1,400   5,300 AED
Per Month

Education14%

14% of total expenses on average (7% to 22%)

LOW$260   940 AED
AVERAGE$730   2,700 AED
HIGH$4,000   15,000 AED
Per Month

Other Expenses14%

14% of total expenses on average (7% to 19%)

LOW$220   810 AED
AVERAGE$630   2,300 AED
HIGH$3,400   13,000 AED
Per Month


Student
Cost of living and expenses break down for students living in Um Al Quiwain

Housing20%

20% of total expenses on average (15% to 26%)

LOW$160   580 AED
AVERAGE$390   1,400 AED
HIGH$710   2,600 AED
Per Month

Utilities, Electricity, Water6%

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

LOW$26   97 AED
AVERAGE$66   240 AED
HIGH$120   430 AED
Per Month

Transport, Fuel5%

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

LOW$46   170 AED
AVERAGE$120   420 AED
HIGH$210   760 AED
Per Month

Food and Groceries22%

22% of total expenses on average (16% to 26%)

LOW$130   480 AED
AVERAGE$330   1,200 AED
HIGH$590   2,200 AED
Per Month

Healthcare8%

8% of total expenses on average (5% to 11%)

LOW$39   140 AED
AVERAGE$99   360 AED
HIGH$180   650 AED
Per Month

Leisure, Shopping3%

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

LOW$33   120 AED
AVERAGE$82   300 AED
HIGH$150   540 AED
Per Month

Education19%

19% of total expenses on average (12% to 24%)

LOW$130   460 AED
AVERAGE$310   1,100 AED
HIGH$560   2,100 AED
Per Month

Other Expenses17%

17% of total expenses on average (11% to 23%)

LOW$99   360 AED
AVERAGE$250   910 AED
HIGH$440   1,600 AED
Per Month
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