Cost Of Living in Uruguay 2024
Average monthly spending for singles, couples, students, and families in Uruguay
Whether you're living in Uruguay 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 Expenditure88,000 UYU
per month$2,3006,800 UYU $170
$23,000 880,000 UYU
Single61,000 UYU
per month$1,60020,000 UYU $520
$10,000 410,000 UYU
Couple100,000 UYU
per month$2,60034,000 UYU $870
$14,000 540,000 UYU
Family140,000 UYU
per month$3,50048,000 UYU $1,200
$19,000 750,000 UYU
Student41,000 UYU
per month$1,00016,000 UYU $420
$1,900 73,000 UYU
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Uruguay is 61,000 UYU. Expenses can range from 20,000 UYU at the minimum level to 410,000 UYU at the highest end.
Couples
The average monthly spending of couples in Uruguay is 100,000 UYU. Expenditure can range from 34,000 UYU to 540,000 UYU per month.
Families
The average cost of living for families in Uruguay is 140,000 UYU per month. Families spend anywhere from 48,000 UYU to 750,000 UYU.
Students
The average monthly expenditure for students in Uruguay is 41,000 UYU. Students spend from 16,000 UYU to 73,000 UYU 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 Uruguay
Dining, food, and beverages costs
Large bottle of water
Fast food combo meal
Restaurant meal for one
Fine dining meal for one | 600 UYU | 900 UYU | 3,600 UYU |
Soda or Soft Drink
Cappuccino or latte Grocery and market costs
Milk large bottle
Loaf of bread
12 eggs
Fresh whole chicken
Beef 1 kg or 1 lb
Rice 1 kg or 1 lb
Tomato 1 kg or 1 lb
Apples 1 kg or 1 lb Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank | 450 UYU | 600 UYU | 1,200 UYU |
Average car 1-day rental
Average car price | 230,000 UYU | 450,000 UYU | 600,000 UYU |
Bus ticket one way
Car Service | 600 UYU | 900 UYU | 1,800 UYU |
Utility cost (monthly)
Utility Bill - Individual | 1,200 UYU | 3,700 UYU | 24,000 UYU |
Utility Bill - Couple | 1,700 UYU | 5,100 UYU | 27,000 UYU |
Utility Bill - Family | 1,400 UYU | 4,100 UYU | 22,000 UYU |
Internet and cable | 450 UYU | 900 UYU | 1,200 UYU |
Mobile phone charges | 360 UYU | 600 UYU | 1,800 UYU |
Leisure and activities costs
Movie ticket
One month gym membership | 720 UYU | 900 UYU | 1,800 UYU |
Cloths and accessories costs
Pair of jeans or pants | 530 UYU | 750 UYU | 1,100 UYU |
Woman dress | 500 UYU | 690 UYU | 2,300 UYU |
Woman shoes | 470 UYU | 640 UYU | 1,500 UYU |
Men's shoes | 410 UYU | 500 UYU | 1,000 UYU |
Men suit | 450 UYU | 560 UYU | 3,000 UYU |
Regular t-shirt Housing costs / monthly rent
Studio apartment | 7,500 UYU | 11,000 UYU | 30,000 UYU |
1-bedroom apartment | 11,000 UYU | 18,000 UYU | 45,000 UYU |
2-bedroom apartment | 15,000 UYU | 23,000 UYU | 60,000 UYU |
Housing costs / Buying
Studio apartment | 1.5M UYU | 2.3M UYU | 4.5M UYU |
1-bedroom apartment
2-bedroom apartment | $77,000 | $230,000 | $460,000 |
Furniture Costs
King Size Bed | 9,000 UYU | 11,000 UYU | 15,000 UYU |
Double Bed | 6,000 UYU | 9,000 UYU | 11,000 UYU |
Single Bed | 5,300 UYU | 6,900 UYU | 9,000 UYU |
Living Room | 10,000 UYU | 13,000 UYU | 45,000 UYU |
Dining Table | 4,500 UYU | 6,000 UYU | 11,000 UYU |
Sofa or Couch | 6,000 UYU | 8,200 UYU | 18,000 UYU |
Electronics and House Appliance Costs
TV Set | 6,000 UYU | 9,000 UYU | 18,000 UYU |
Fridge or Freezer | 5,300 UYU | 8,200 UYU | 11,000 UYU |
Washing Machine | 6,900 UYU | 10,000 UYU | 18,000 UYU |
Stove or Cooker | 6,400 UYU | 8,200 UYU | 11,000 UYU |
Mobile Phone | 7,500 UYU | 9,000 UYU | 13,000 UYU |
Laptop or Computer | 8,200 UYU | 10,000 UYU | 18,000 UYU |
Expenditure to Income Ratio in Uruguay
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
85%
77% to 94%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 5% |
| 50% - 60% | 10% |
| 60% - 70% | 17% |
| 70% - 80% | 26% |
| 80% - 90% | 17% |
| 90% - 100% | 10% |
| 100% - 110% | 5% |
| 110% - 120% | 3% |
| 120% - 130% | 2% |
| 130% - 140% | 2% |
| > 140% | 1% |
Interpretation and Analysis
The average spending-to-salary ratio in Uruguay is 85%
This means that on average, people spend around 85% 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
77%
Spending-Income-Ratio
69%
85%
Couple
81%
Spending-Income-Ratio
73%
89%
Family
89%
Spending-Income-Ratio
81%
99%
How do people spend their money in Uruguay?
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 | $52 2,000 UYU |
| AVERAGE | $680 26,000 UYU |
| HIGH | $6,800 260,000 UYU |
| Per Month |
People living in Uruguay typically spend from 15% to 34% of their total monthly expenditure on housing with 26% being the average. The average spend on housing is 26,000 UYU with expenditure ranging from 2,000 UYU to 260,000 UYU. 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 | $8.7 340 UYU |
| AVERAGE | $110 4,400 UYU |
| HIGH | $1,100 44,000 UYU |
| Per Month |
Utility expenditure like electricity, water, and gas in Uruguay ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 4,400 UYU with 340 UYU and 44,000 UYU being the upper and lower limits.
Transport, Fuel, Commute8%
8% of total expenses on average (4% to 12%)
| LOW | $17 680 UYU |
| AVERAGE | $230 8,800 UYU |
| HIGH | $2,300 88,000 UYU |
| 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 680 UYU to 88,000 UYU on commuting with 8,800 UYU 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 | $44 1,700 UYU |
| AVERAGE | $570 22,000 UYU |
| HIGH | $5,700 220,000 UYU |
| Per Month |
The average outlay on groceries in a month in Uruguay is 22,000 UYU. The cost of groceries can range between 1,700 UYU to 220,000 UYU. 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 | $12 480 UYU |
| AVERAGE | $160 6,200 UYU |
| HIGH | $1,600 62,000 UYU |
| Per Month |
People in Uruguay 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 480 UYU to 62,000 UYU with 6,200 UYU being the norm.
Leisure and Shopping5%
5% of total expenses on average (3% to 9%)
| LOW | $7 270 UYU |
| AVERAGE | $91 3,500 UYU |
| HIGH | $910 35,000 UYU |
| 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 270 UYU to 35,000 UYU with 3,500 UYU 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 | $10 410 UYU |
| AVERAGE | $140 5,300 UYU |
| HIGH | $1,400 53,000 UYU |
| 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 5,300 UYU per month with 410 UYU being the minimum spent amount and 53,000 UYU being the maximum.
Other Expenses13%
13% of total expenses on average (8% to 20%)
| LOW | $23 880 UYU |
| AVERAGE | $290 11,000 UYU |
| HIGH | $2,900 110,000 UYU |
| Per Month |
How much money can you save in Uruguay 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 Uruguay manage to save money from their income every month?
Almost 55% of the surveyed people in Uruguay said that they can save some money at the end of each month while 45% said that aren't saving anything.
Percentage of people saving money by population group in Uruguay
| Group | Savers | Non Savers |
|---|
| Singles | 61% | 39% |
| Couples | 56% | 44% |
| Families | 51% | 49% |
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
Average Monthly Saved Amount
2,200 UYU
$57 | 29,000 UYU
$740 | 290,000 UYU
$7,400 |
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 29,000 UYU on average with savings ranging from 2,200 UYU to 290,000 UYU.
61% of surveyed singles reported some of their income going to savings while 56% of couples said the same. 51% of families confirmed their ability to save money.
How much money do people actually save in Uruguay?
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
Average Monthly Saved Amount
6,600 UYU
$170 | 20,000 UYU
$510 | 130,000 UYU
$3,400 |
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 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 20,000 UYU with 6,600 UYU and 130,000 UYU being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
11,000 UYU
$280 | 33,000 UYU
$850 | 180,000 UYU
$4,500 |
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 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 33,000 UYU with 11,000 UYU and 180,000 UYU being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
15,000 UYU
$400 | 44,000 UYU
$1,100 | 240,000 UYU
$6,300 |
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 Uruguay 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 44,000 UYU with 15,000 UYU and 240,000 UYU 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 Uruguay
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Uruguay?
Around 55% of surveyed residents think that living in Uruguay is affordable with proper budgeting while 45% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Uruguay
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 options55%
Few low-cost options45%
Based on the survey, 55% of the people living in Uruguay 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 Uruguay whether they have an emergency fund and the answers were as follows.
Yes52%
No48%
Based on the survey, 48% of the people living in Uruguay said that they don't have an emergency fund while 52% said that they do.
Financial Literacy in Uruguay
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 Leteracy50%
We asked residents of Uruguay whether they acquired any adequate personal financial training in their lives. Approximately 50% 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 50% 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 Uruguay have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 49% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 51% said that they have everything under control.
Struggles with finance49%
Easily manages finances51%
Financial goals of people in Uruguay
In an attempt to understand the economic situation in Uruguay, 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 Fund | 7% |
| Debt Reduction | 36% |
| Retirement Savings | 9% |
| Education Funding | 8% |
| Homeownership | 17% |
| Investing | 8% |
| Travel or Lifestyle | 9% |
| Healthcare Expenses | 11% |
| Financial Independence | 7% |
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 36% said their number one priority is to pay off high-interest debt or loans and improve credit. 9% 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 9% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 11% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Saving Challenges in Uruguay
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Uruguay. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 6% |
| High Expenses | 9% |
| Debt and Loans | 16% |
| Lack of Budgeting Skills | 11% |
| Impulsive Spending | 10% |
| Financial Emergencies | 6% |
| Living the moment | 6% |
| Will do it later | 18% |
| Inflation | 12% |
| Social Pressure | 3% |
| Market Instability | 3% |
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. 16% 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. 12% 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 Uruguay
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 11% |
| Gold | 11% |
| Savings Accounts | 17% |
| Retirement Accounts | 11% |
| Cash Savings | 18% |
| Real Estate | 10% |
| Investment | 6% |
| Stocks | 5% |
| Bonds | 6% |
| Mutual Funds | 3% |
| Certificates of Deposit | 3% |
Retirement, pension plans, and life after work in Uruguay
What does the retirement lifestyle look like in Uruguay and how much retirement savings are required?
Retirement age
The retirement age for most employees in Uruguay 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:| Age | Amount |
|---|
| 25 | 5x monthly salary at age 25 |
| 30 | 10x monthly salary at age 30 |
| 35 | 15x monthly salary at age 35 |
| 40 | 25x monthly salary at age 40 |
| 45 | 32x monthly salary at age 45 |
| 50 | 48x monthly salary at age 50 |
| 55 | 56x monthly salary at age 55 |
| 60 | 64x monthly salary at age 60 |
| 65 | 78x monthly salary at age 65 |
The typical average saved amount of money you should have at every age in Uruguay:| Age | Amount |
|---|
| 25 | 230,000 UYU |
| 30 | 470,000 UYU |
| 35 | 820,000 UYU |
| 40 | 1.2M UYU |
| 45 | 1.8M UYU |
| 50 | 2.5M UYU |
| 55 | 2.9M UYU |
| 60 | 3.6M UYU |
| 65 | 4.3M UYU |
Retirement Income Distribution
We asked residents of Uruguay about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 13% |
| Savings | 22% |
| Investments | 13% |
| Social Security | 8% |
| Annuities | 8% |
| Part-time Job | 12% |
| Real Estate | 17% |
| Dividends and Interest | 8% |
Retirement Monthly Expenses in Uruguay 15,000 UYU
$380 | 45,000 UYU
$1,200 | 300,000 UYU
$7,700 |
Debt, loans, and mortgages in Uruguay
Percentage of people who are in debt
According to the survey, 32% of the people in Uruguay have some kind of debt, loan, mortgage, or credit card payments while 68% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Uruguay
Debt to income ratio
30%
21% to 39%
( 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 30% of the people's monthly income in Uruguay goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 14% |
| 40% - 50% | 12% |
| 30% - 40% | 14% |
| 20% - 30% | 13% |
| 10% - 20% | 16% |
| 0% - 10% | 27% |
According to our data, 3% of the debtors in Uruguay pay 60%+ of their income as debt settlement while 14% 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 13% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Uruguay
| Debt | % People |
|---|
| Real Estate Mortgage | 11% |
| Auto Loan | 20% |
| Student Loan | 3% |
| Credit Card | 27% |
| Personal Loan | 39% |
11% of debtors in Uruguay confirm that real estate mortgages constitutes the main part of their outstanding debt while 27% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 20% of people and personal loans rose at 39%. Lastly, student loans are the main source of debt for 3% of debtors in Uruguay.
About credit score and debt managementManaging 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 Uruguay
Besides measuring the loan-to-income ratio, we asked residents of Uruguay 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 |
|---|
| Never | 53% |
| Once a year | 23% |
| Twice a year | 12% |
| Three times a year | 8% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Uruguay
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Uruguay
Monthly Rent Prices
Studio apartment | 7,500 UYU | 11,000 UYU | 30,000 UYU |
1-bedroom apartment | 11,000 UYU | 18,000 UYU | 45,000 UYU |
2-bedroom apartment | 15,000 UYU | 23,000 UYU | 60,000 UYU |
3-bedroom apartment | 18,000 UYU | 30,000 UYU | 82,000 UYU |
Furnished apartment | 36,000 UYU | 90,000 UYU | 180,000 UYU |
Townhouse | 30,000 UYU | 45,000 UYU | 130,000 UYU |
House | 36,000 UYU | 90,000 UYU | 180,000 UYU |
Villa | 45,000 UYU | 110,000 UYU | 180,000 UYU |
The monthly rental cost of a studio apartment in Uruguay ranges between 7,500 UYU and 30,000 UYU, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 11,000 UYU to 45,000 UYU. Two-bedroom rentals rate ranges between 15,000 UYU and 60,000 UYU per month. The monthly rental for a three-bedroom apartment ranges from 18,000 UYU to 82,000 UYU. The average rent of a townhouse in Uruguay is around 45,000 UYU while house rental costs can be as high as 90,000 UYU per month. Finally, if you want to rent a villa, expect to pay anywhere from 45,000 UYU to 180,000 UYU per month.
Apartment and house prices in Uruguay
Cost of buying a property
Studio apartment | 1.5M UYU | 2.3M UYU | 4.5M UYU |
1-bedroom apartment
2-bedroom apartment | $77,000 | $230,000 | $460,000 |
3-bedroom apartment
Townhouse
House
Villa | 18M UYU | 100M UYU | 150M UYU |
The average price of a studio apartment in Uruguay can range from 1.5M UYU to 4.5M UYU depending on location. One bedroom cost can be anywhere from 1.8M UYU to 11M UYU. A villa can cost you 100M UYU on average with prices ranging from 18M UYU to 150M UYU.
If you're leasing or purchasing, housing costs in Uruguay 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
| 37 | x106 monthly income | 204 |
Property prices in Uruguay can be x106 to x204 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x106 multiples of the average monthly salary in Uruguay.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Uruguay is around 31%. This means that people pay 31% of their income for rent. Those figures can range from 21% to 41% 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
29% 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.
| 140 UYU | 1,800 UYU | 18,000 UYU |
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.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Uruguay
Housing32%
32% of total expenses on average (20% to 44%)
| LOW | $190 7,300 UYU |
| AVERAGE | $560 22,000 UYU |
| HIGH | $3,800 150,000 UYU |
| Per Month |
Utilities, Electricity, Water8%
8% of total expenses on average (4% to 13%)
| LOW | $31 1,200 UYU |
| AVERAGE | $94 3,700 UYU |
| HIGH | $630 24,000 UYU |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 12%)
| LOW | $42 1,600 UYU |
| AVERAGE | $130 4,900 UYU |
| HIGH | $840 33,000 UYU |
| Per Month |
Food and Groceries18%
18% of total expenses on average (12% to 23%)
| LOW | $84 3,300 UYU |
| AVERAGE | $250 9,800 UYU |
| HIGH | $1,700 65,000 UYU |
| Per Month |
Healthcare11%
11% of total expenses on average (5% to 15%)
| LOW | $47 1,800 UYU |
| AVERAGE | $140 5,500 UYU |
| HIGH | $940 37,000 UYU |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (3% to 6%)
| LOW | $26 1,000 UYU |
| AVERAGE | $78 3,100 UYU |
| HIGH | $520 20,000 UYU |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $10 410 UYU |
| AVERAGE | $31 1,200 UYU |
| HIGH | $210 8,100 UYU |
| Per Month |
Other Expenses21%
21% of total expenses on average (13% to 25%)
| LOW | $94 3,700 UYU |
| AVERAGE | $280 11,000 UYU |
| HIGH | $1,900 73,000 UYU |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Uruguay
Housing29%
29% of total expenses on average (22% to 39%)
| LOW | $290 11,000 UYU |
| AVERAGE | $860 34,000 UYU |
| HIGH | $4,600 180,000 UYU |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (5% to 11%)
| LOW | $44 1,700 UYU |
| AVERAGE | $130 5,100 UYU |
| HIGH | $700 27,000 UYU |
| Per Month |
Transport, Fuel10%
10% of total expenses on average (4% to 15%)
| LOW | $100 4,100 UYU |
| AVERAGE | $310 12,000 UYU |
| HIGH | $1,700 65,000 UYU |
| Per Month |
Food and Groceries16%
16% of total expenses on average (11% to 21%)
| LOW | $120 4,800 UYU |
| AVERAGE | $370 14,000 UYU |
| HIGH | $2,000 76,000 UYU |
| Per Month |
Healthcare13%
13% of total expenses on average (7% to 17%)
| LOW | $96 3,700 UYU |
| AVERAGE | $290 11,000 UYU |
| HIGH | $1,500 60,000 UYU |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (2% to 7%)
| LOW | $52 2,000 UYU |
| AVERAGE | $160 6,100 UYU |
| HIGH | $840 33,000 UYU |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $17 680 UYU |
| AVERAGE | $52 2,000 UYU |
| HIGH | $280 11,000 UYU |
| Per Month |
Other Expenses20%
20% of total expenses on average (14% to 26%)
| LOW | $150 5,800 UYU |
| AVERAGE | $440 17,000 UYU |
| HIGH | $2,400 92,000 UYU |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Uruguay
Housing28%
28% of total expenses on average (23% to 38%)
| LOW | $390 15,000 UYU |
| AVERAGE | $1,100 43,000 UYU |
| HIGH | $6,100 240,000 UYU |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 8%)
| LOW | $98 3,800 UYU |
| AVERAGE | $280 11,000 UYU |
| HIGH | $1,500 60,000 UYU |
| Per Month |
Food and Groceries20%
20% of total expenses on average (13% to 26%)
| LOW | $220 8,600 UYU |
| AVERAGE | $630 24,000 UYU |
| HIGH | $3,400 130,000 UYU |
| Per Month |
Healthcare10%
10% of total expenses on average (6% to 15%)
| LOW | $98 3,800 UYU |
| AVERAGE | $280 11,000 UYU |
| HIGH | $1,500 60,000 UYU |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $61 2,400 UYU |
| AVERAGE | $170 6,800 UYU |
| HIGH | $960 37,000 UYU |
| Per Month |
Education14%
14% of total expenses on average (7% to 22%)
| LOW | $170 6,700 UYU |
| AVERAGE | $490 19,000 UYU |
| HIGH | $2,700 100,000 UYU |
| Per Month |
Other Expenses15%
15% of total expenses on average (8% to 20%)
| LOW | $150 5,700 UYU |
| AVERAGE | $420 16,000 UYU |
| HIGH | $2,300 90,000 UYU |
| Per Month |
StudentCost of living and expenses break down for students living in Uruguay
Housing20%
20% of total expenses on average (15% to 26%)
| LOW | $100 3,900 UYU |
| AVERAGE | $250 9,700 UYU |
| HIGH | $450 17,000 UYU |
| Per Month |
Utilities, Electricity, Water6%
6% of total expenses on average (4% to 10%)
| LOW | $17 650 UYU |
| AVERAGE | $42 1,600 UYU |
| HIGH | $75 2,900 UYU |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (5% to 11%)
| LOW | $29 1,100 UYU |
| AVERAGE | $73 2,800 UYU |
| HIGH | $130 5,100 UYU |
| Per Month |
Food and Groceries22%
22% of total expenses on average (16% to 26%)
| LOW | $83 3,200 UYU |
| AVERAGE | $210 8,100 UYU |
| HIGH | $370 15,000 UYU |
| Per Month |
Healthcare8%
8% of total expenses on average (5% to 11%)
| LOW | $25 970 UYU |
| AVERAGE | $62 2,400 UYU |
| HIGH | $110 4,400 UYU |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $21 810 UYU |
| AVERAGE | $52 2,000 UYU |
| HIGH | $94 3,600 UYU |
| Per Month |
Education19%
19% of total expenses on average (12% to 24%)
| LOW | $79 3,100 UYU |
| AVERAGE | $200 7,700 UYU |
| HIGH | $360 14,000 UYU |
| Per Month |
Other Expenses18%
18% of total expenses on average (12% to 24%)
| LOW | $62 2,400 UYU |
| AVERAGE | $160 6,100 UYU |
| HIGH | $280 11,000 UYU |
| Per Month |
