Cost Of Living in Varna 2024
Average monthly spending for singles, couples, students, and families in Varna
Whether you're living in Varna 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
Currency: BGN
Monthly Expenditure ▶ Single
Currency: BGN
Monthly Expenditure ▶ Couple
Currency: BGN
Monthly Expenditure ▶ Family
Currency: BGN
Monthly Expenditure ▶ Student
Currency: BGN
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Varna is 2,200 BGN. Expenses can range from 310 BGN at the minimum level to 15,000 BGN at the highest end.
Couples
The average monthly spending of couples in Varna is 3,700 BGN. Expenditure can range from 1,200 BGN to 20,000 BGN per month.
Families
The average cost of living for families in Varna is 4,900 BGN per month. Families spend anywhere from 1,700 BGN to 32,000 BGN.
Students
The average monthly expenditure for students in Varna is 1,600 BGN. Students spend from 250 BGN to 11,000 BGN 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 Varna
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
Cappuccino or latte
Grocery and market costs
Milk large bottle
12 eggs
Fresh whole chicken
Pack of beef
Medium bag of rice
Bag of tomatos
| 0.66 BGN | 0.88 BGN | 1.7 BGN |
Bag of apples
Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank
Average car 1-day rental
Average car price
| 8,200 BGN | 16,000 BGN | 22,000 BGN |
Bus ticket one way
| 0.56 BGN | 0.84 BGN | 1.7 BGN |
Car Service
Utility cost (monthly)
Utility Bill - Individual
Utility Bill - Couple
Utility Bill - Family
Internet and cable
Mobile phone charges
Leisure and activities costs
Movie ticket
One month gym membership
Cloths and accessories costs
Pair of jeans or pants
Woman dress
Woman shoes
Men's shoes
Men suit
Regular t-shirt
Housing costs / monthly rent
Studio apartment
| 280 BGN | 420 BGN | 1,100 BGN |
1-bedroom apartment
| 420 BGN | 670 BGN | 1,700 BGN |
2-bedroom apartment
| 560 BGN | 840 BGN | 2,200 BGN |
Housing costs / Buying
Studio apartment
| 56,000 BGN | 84,000 BGN | 170,000 BGN |
1-bedroom apartment
| 67,000 BGN | 110,000 BGN | 420,000 BGN |
2-bedroom apartment
| 110,000 BGN | 340,000 BGN | 670,000 BGN |
| $62,000 | $190,000 | $370,000 |
Furniture Costs
King Size Bed
Double Bed
Single Bed
Living Room
| 370 BGN | 470 BGN | 1,600 BGN |
Dining Table
Sofa or Couch
Electronics and House Appliance Costs
TV Set
Fridge or Freezer
Washing Machine
Stove or Cooker
Mobile Phone
Laptop or Computer
Expenditure to Income Ratio in Varna
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
86%
78% to 95%
( 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% | 18% |
| 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 Varna is 86%
This means that on average, people spend around 86% 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
78%
Spending-Income-Ratio
70%
86%
Couple
82%
Spending-Income-Ratio
74%
91%
Family
91%
Spending-Income-Ratio
82%
100%
How do people spend their money in Varna?
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 Expenditure25%
25% of total expenses on average (14% to 33%)
| LOW | $41 74 BGN |
| AVERAGE | $530 960 BGN |
| HIGH | $5,300 9,600 BGN |
| Per Month |
People living in Varna typically spend from 14% to 33% of their total monthly expenditure on housing with 25% being the average. The average spend on housing is 960 BGN with expenditure ranging from 74 BGN to 9,600 BGN. 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, Water, Internet, Mobile7%
7% of total expenses on average (4% to 11%)
| LOW | $6.8 12 BGN |
| AVERAGE | $89 160 BGN |
| HIGH | $890 1,600 BGN |
| Per Month |
Utility expenditure like electricity, water, and gas in Varna ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 160 BGN with 12 BGN and 1,600 BGN being the upper and lower limits.
Transport, Fuel, Commute8%
8% of total expenses on average (4% to 12%)
| LOW | $14 25 BGN |
| AVERAGE | $180 320 BGN |
| HIGH | $1,800 3,200 BGN |
| 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 25 BGN to 3,200 BGN on commuting with 320 BGN 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 | $34 61 BGN |
| AVERAGE | $440 800 BGN |
| HIGH | $4,400 8,000 BGN |
| Per Month |
The average outlay on groceries in a month in Varna is 800 BGN. The cost of groceries can range between 61 BGN to 8,000 BGN. 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 | $9.5 17 BGN |
| AVERAGE | $120 220 BGN |
| HIGH | $1,200 2,200 BGN |
| Per Month |
People in Varna 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 17 BGN to 2,200 BGN with 220 BGN being the norm.
Leisure and Shopping5%
5% of total expenses on average (3% to 9%)
| LOW | $5.5 9.8 BGN |
| AVERAGE | $71 130 BGN |
| HIGH | $710 1,300 BGN |
| 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 9.8 BGN to 1,300 BGN with 130 BGN 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 | $8.2 15 BGN |
| AVERAGE | $110 190 BGN |
| HIGH | $1,100 1,900 BGN |
| 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 190 BGN per month with 15 BGN being the minimum spent amount and 1,900 BGN being the maximum.
Other Expenses13%
13% of total expenses on average (8% to 20%)
| LOW | $18 32 BGN |
| AVERAGE | $230 420 BGN |
| HIGH | $2,300 4,200 BGN |
| Per Month |
How much money can you save in Varna 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 Varna manage to save money from their income every month?
Almost 60% of the surveyed people in Varna said that they can save some money at the end of each month while 40% said that aren't saving anything.
Percentage of people saving money by population group in Varna
| Group | Savers | Non Savers |
|---|
| Singles | 69% | 31% |
| Couples | 64% | 36% |
| Families | 59% | 41% |
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
91 BGN
$50 | 1,200 BGN
$650 | 12,000 BGN
$6,500 |
For most people, 9.1% to 29% 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 1,200 BGN on average with savings ranging from 91 BGN to 12,000 BGN.
69% of surveyed singles reported some of their income going to savings while 64% of couples said the same. 59% of families confirmed their ability to save money.
How much money do people actually save in Varna?
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
91 BGN
$50 | 820 BGN
$450 | 5,400 BGN
$3,000 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 30% |
| 10% - 20% | 24% |
| 20% - 30% | 16% |
| 30% - 40% | 15% |
| 40% - 50% | 11% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 12% to 32% 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 820 BGN with 91 BGN and 5,400 BGN being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
450 BGN
$250 | 1,400 BGN
$750 | 7,300 BGN
$4,000 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 34% |
| 10% - 20% | 26% |
| 20% - 30% | 19% |
| 30% - 40% | 10% |
| 40% - 50% | 8% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 10% to 31% of their monthly income, with 17% being the average for most couples. The average amount of money that couples can save is 1,400 BGN with 450 BGN and 7,300 BGN being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
630 BGN
$350 | 1,800 BGN
$1,000 | 12,000 BGN
$6,500 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 37% |
| 10% - 20% | 29% |
| 20% - 30% | 20% |
| 30% - 40% | 7% |
| 40% - 50% | 5% |
| > 50% | 2% |
Interpretation and Analysis
Families in Varna can save anywhere between 8.1% to 27% of their monthly income, with 15% being the average for most families. The average amount of money that families can put aside is 1,800 BGN with 630 BGN and 12,000 BGN being the minimum and maximum respectively.
Saving Challenges in Varna
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Varna. 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 | 19% |
| 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. 19% 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 social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.
Typical saving choices for people in Varna
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% |
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 Varna
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Varna?
Around 66% of surveyed residents think that living in Varna is affordable with proper budgeting while 34% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Varna
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 options58%
Few low-cost options42%
Based on the survey, 58% of the people living in Varna have no problem finding low-cost alternatives to support a frugal lifestyle while 42% 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 Varna whether they have an emergency fund and the answers were as follows.
Yes62%
No38%
Based on the survey, 38% of the people living in Varna said that they don't have an emergency fund while 62% said that they do.
Financial Literacy in Bulgaria
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 Leteracy60%
We asked residents of Bulgaria whether they acquired any adequate personal financial training in their lives. Approximately 40% 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 60% 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 Bulgaria have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 43% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 57% said that they have everything under control.
Struggles with finance43%
Easily manages finances57%
Financial goals of people in Varna
In an attempt to understand the economic situation in Varna, 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 | 38% |
| 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 38% 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.
Retirement, pension plans, and life after work in Varna
What does the retirement lifestyle look like in Varna and how much retirement savings are required?
Retirement age
The retirement age for most employees in Bulgaria 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 Varna:| Age | Amount |
|---|
| 25 | 8,700 BGN |
| 30 | 17,000 BGN |
| 35 | 31,000 BGN |
| 40 | 44,000 BGN |
| 45 | 66,000 BGN |
| 50 | 92,000 BGN |
| 55 | 110,000 BGN |
| 60 | 140,000 BGN |
| 65 | 160,000 BGN |
Retirement Income Distribution
We asked residents of Varna 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 Varna 180 BGN
$99 | 1,600 BGN
$890 | 11,000 BGN
$5,900 |
Debt, loans, and mortgages in Varna
Percentage of people who are in debt
According to the survey, 33% of the people in Varna 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 Varna
Debt to income ratio
31%
21% to 40%
( 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 31% of the people's monthly income in Varna goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 15% |
| 40% - 50% | 13% |
| 30% - 40% | 15% |
| 20% - 30% | 13% |
| 10% - 20% | 15% |
| 0% - 10% | 27% |
According to our data, 3% of the debtors in Varna pay 60%+ of their income as debt settlement while 15% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 13% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 15% 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 Varna
| Debt | % People |
|---|
| Real Estate Mortgage | 11% |
| Auto Loan | 19% |
| Student Loan | 3% |
| Credit Card | 27% |
| Personal Loan | 40% |
11% of debtors in Varna 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 19% of people and personal loans rose at 40%. Lastly, student loans are the main source of debt for 3% of debtors in Varna.
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 Varna
Besides measuring the loan-to-income ratio, we asked residents of Varna 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 Varna
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Varna
Monthly Rent Prices
Studio apartment monthly rent cost
| 280 BGN | 420 BGN | 1,100 BGN |
1-bedroom apartment monthly rent cost
| 420 BGN | 670 BGN | 1,700 BGN |
2-bedroom apartment monthly rent cost
| 560 BGN | 840 BGN | 2,200 BGN |
3-bedroom apartment monthly rent cost
| 670 BGN | 1,100 BGN | 3,100 BGN |
Furnished apartment monthly rent cost
| 1,300 BGN | 3,400 BGN | 6,700 BGN |
Townhouse monthly rent cost
| 1,100 BGN | 1,700 BGN | 4,800 BGN |
House monthly rent cost
| 1,300 BGN | 3,400 BGN | 6,700 BGN |
Villa monthly rent cost
| 1,700 BGN | 4,200 BGN | 6,700 BGN |
The monthly rental cost of a studio apartment in Varna ranges between 280 BGN and 1,100 BGN, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 420 BGN to 1,700 BGN. Two-bedroom rentals rate ranges between 560 BGN and 2,200 BGN per month. The monthly rental for a three-bedroom apartment ranges from 670 BGN to 3,100 BGN. The average rent of a townhouse in Varna is around 1,700 BGN while house rental costs can be as high as 3,400 BGN per month. Finally, if you want to rent a villa, expect to pay anywhere from 1,700 BGN to 6,700 BGN per month.
Apartment and house prices in Varna
Cost of buying a property
Studio apartment price
| 56,000 BGN | 84,000 BGN | 170,000 BGN |
1-bedroom apartment price
| 67,000 BGN | 110,000 BGN | 420,000 BGN |
2-bedroom apartment price
| 110,000 BGN | 340,000 BGN | 670,000 BGN |
| $62,000 | $190,000 | $370,000 |
3-bedroom apartment price
| 370,000 BGN | 560,000 BGN | 1.7M BGN |
| $210,000 | $310,000 | $930,000 |
Townhouse price
| 480,000 BGN | 1.1M BGN | 4.2M BGN |
House price
| 560,000 BGN | 3.4M BGN | 4.8M BGN |
Villa price
| 670,000 BGN | 3.7M BGN | 5.6M BGN |
The average price of a studio apartment in Varna can range from 56,000 BGN to 170,000 BGN depending on location. One bedroom cost can be anywhere from 67,000 BGN to 420,000 BGN. A villa can cost you 3.7M BGN on average with prices ranging from 670,000 BGN to 5.6M BGN.
If you're leasing or purchasing, housing costs in Varna 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 | 205 |
Property prices in Varna can be x106 to x205 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 Varna.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Varna is around 31%. This means that people pay 31% of their income for rent. Those figures can range from 20% 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
28% 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 Varna
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Varna
Utility Bill Cost / Electricity + Water + Gas / Individual
Utility Bill Cost / Electricity + Water + Gas / Couple
Utility Bill Cost / Electricity + Water + Gas / Family
Internet and cable cost
Mobile phone bill and charges
Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.
The average monthly expenditure for individuals on electricty, water, and gas in Varna ranges between 19 BGN and 880 BGN with average being 130 BGN, meanwhile the expenditure of couples is slightly higher at 170 BGN with 49 BGN and 1,100 BGN 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 250 BGN. The cost of internet and WiFi is unchanged among the three groups and ranges from 16 BGN to 44 BGN with 33 BGN being the average internet bill. Finally, the average monthly mobile charges is around 22 BGN but can range between 13 BGN and 66 BGN depending on consumption. Mobile charges include both calling minutes as well as data packages.
Energy / Utility expense to income ratio
( monthly utility expenses / monthly income ) x 100
The average utility-to-income ratio in Varna is around 6.1%. This means that people pay 6.1% of their income for energy, water, internet, and mobile charges. Those figures can range from 3% to 10% depending on salary and location.
Food Prices, Dining Expenses, and Grocery Costs in Varna
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Varna
Dining out, food, and beverages costs. Price variations for common food items.
Fast food combo meal price
The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Varna is approximatly 6.6 BGN with meal cost ranging from 3.3 BGN to 11 BGN. The typical combo meal consists of a burger, french fries, and a drink.
Restaurant meal for one price
If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 11 BGN and 33 BGN with 17 BGN being the average price of a plate for one person at a regular restaurant in Varna.
Fine dining meal for one price
The price range of a meal at fine-dining restaurant is 22 BGN to 130 BGN with the average cost being 33 BGN for one person. This is what you would expect to pay a top-tier diner in Varna.
Beverage prices, cappuccino, latte etc..
The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Varna is around 4.4 BGN. Price ranges between 2.7 BGN and 6.6 BGN depending on the type of beverage, the size, and optional add-ons.
Grocery and market costs
Large bottle of milk price
The average price of a large bottle of milk in Varna is 2.6 BGN. The maximum what you would pay for milk is 3.3 BGN and the minimum being 2.2 BGN depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 2.2 BGN on average with 1.7 BGN and 3.3 BGN being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Varna is between 3.7 BGN and 6.9 BGN depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 4.9 BGN.
Pack of beef price
The price of a regular pack of beef or meat is around 6.6 BGN. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Varna costs around 2.4 BGN on average with prices rangeing between 1.8 BGN and 3.4 BGN depending on the brand and quality.
Bag of tomatos price
| 0.66 BGN | 0.88 BGN | 1.7 BGN |
A bag of tomatoes costs anywhere from 0.66 BGN to 1.7 BGN. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 1.5 BGN on average. A bag of apples denotes 1Kg or 1lb depending on location.
Grocery and food expenditure to income ratio
( monthly grocery expenses / monthly income ) x 100
The average grocery-to-income ratio in Varna is around 26%. This means that people spend 26% of their income on grocery and basic household items. The expenditure can range from 18% to 33% depending on salary and location.
Expenditure on food and grocery for every population group
A single person living alone spends approximately 350 BGN per month on grocery and food with expenditure fluctuating between 50 BGN and 2,400 BGN depending on location and the type of person. The average cost of food and groceries for a couple is around 520 BGN per month. That number can be get as low as 170 BGN or a high as 2,800 BGN. Families' spending on grocery ranges from 310 BGN to 5,800 BGN 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 Varna
Housing cost for a single person31%
31% of total expenses on average (19% to 43%)
| LOW | $63 110 BGN |
| AVERAGE | $440 800 BGN |
| HIGH | $2,900 5,300 BGN |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile8%
8% of total expenses on average (4% to 13%)
| LOW | $10 19 BGN |
| AVERAGE | $74 130 BGN |
| HIGH | $490 880 BGN |
| Per Month |
Transport and Fuel Cost6%
6% of total expenses on average (4% to 12%)
| LOW | $14 25 BGN |
| AVERAGE | $98 180 BGN |
| HIGH | $650 1,200 BGN |
| Per Month |
Food and Groceries Cost18%
18% of total expenses on average (12% to 23%)
| LOW | $28 50 BGN |
| AVERAGE | $200 350 BGN |
| HIGH | $1,300 2,400 BGN |
| Per Month |
Healthcare Cost11%
11% of total expenses on average (5% to 15%)
| LOW | $16 28 BGN |
| AVERAGE | $110 200 BGN |
| HIGH | $740 1,300 BGN |
| Per Month |
Leisure and Shopping Expenditure3%
3% of total expenses on average (3% to 6%)
| LOW | $8.7 16 BGN |
| AVERAGE | $61 110 BGN |
| HIGH | $410 740 BGN |
| Per Month |
Education Cost2%
2% of total expenses on average (1% to 4%)
| LOW | $3.5 6.3 BGN |
| AVERAGE | $25 44 BGN |
| HIGH | $160 290 BGN |
| Per Month |
Other Expenses21%
21% of total expenses on average (13% to 25%)
| LOW | $31 56 BGN |
| AVERAGE | $220 400 BGN |
| HIGH | $1,500 2,700 BGN |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Varna
Housing cost for a couple28%
28% of total expenses on average (21% to 38%)
| LOW | $230 420 BGN |
| AVERAGE | $700 1,300 BGN |
| HIGH | $3,700 6,700 BGN |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile7%
7% of total expenses on average (5% to 11%)
| LOW | $27 49 BGN |
| AVERAGE | $92 170 BGN |
| HIGH | $600 1,100 BGN |
| Per Month |
Transport and Fuel Cost10%
10% of total expenses on average (4% to 15%)
| LOW | $82 150 BGN |
| AVERAGE | $250 440 BGN |
| HIGH | $1,300 2,400 BGN |
| Per Month |
Food and Groceries Cost16%
16% of total expenses on average (11% to 21%)
| LOW | $95 170 BGN |
| AVERAGE | $290 520 BGN |
| HIGH | $1,500 2,800 BGN |
| Per Month |
Healthcare Cost13%
13% of total expenses on average (7% to 17%)
| LOW | $75 140 BGN |
| AVERAGE | $220 410 BGN |
| HIGH | $1,200 2,200 BGN |
| Per Month |
Leisure and Shopping Cost4%
4% of total expenses on average (2% to 7%)
| LOW | $41 74 BGN |
| AVERAGE | $120 220 BGN |
| HIGH | $650 1,200 BGN |
| Per Month |
Education Cost2%
2% of total expenses on average (1% to 4%)
| LOW | $14 25 BGN |
| AVERAGE | $41 74 BGN |
| HIGH | $220 390 BGN |
| Per Month |
Other Expenses20%
20% of total expenses on average (14% to 26%)
| LOW | $120 210 BGN |
| AVERAGE | $350 630 BGN |
| HIGH | $1,900 3,300 BGN |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Varna
Housing cost for a family27%
27% of total expenses on average (22% to 37%)
| LOW | $310 550 BGN |
| AVERAGE | $870 1,600 BGN |
| HIGH | $5,700 10,000 BGN |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile5%
5% of total expenses on average (3% to 8%)
| LOW | $48 86 BGN |
| AVERAGE | $140 250 BGN |
| HIGH | $890 1,600 BGN |
| Per Month |
Transport and Fuel Expenses6%
6% of total expenses on average (4% to 8%)
| LOW | $95 170 BGN |
| AVERAGE | $270 490 BGN |
| HIGH | $1,800 3,200 BGN |
| Per Month |
Food and Groceries Cost20%
20% of total expenses on average (13% to 26%)
| LOW | $170 310 BGN |
| AVERAGE | $490 880 BGN |
| HIGH | $3,200 5,800 BGN |
| Per Month |
Healthcare Expenses10%
10% of total expenses on average (6% to 15%)
| LOW | $86 150 BGN |
| AVERAGE | $270 490 BGN |
| HIGH | $1,400 2,600 BGN |
| Per Month |
Leisure and Shopping Cost3%
3% of total expenses on average (2% to 7%)
| LOW | $48 86 BGN |
| AVERAGE | $140 250 BGN |
| HIGH | $890 1,600 BGN |
| Per Month |
Education Cost14%
14% of total expenses on average (7% to 22%)
| LOW | $130 240 BGN |
| AVERAGE | $380 690 BGN |
| HIGH | $2,500 4,500 BGN |
| Per Month |
Other Expenses15%
15% of total expenses on average (8% to 20%)
| LOW | $76 140 BGN |
| AVERAGE | $220 390 BGN |
| HIGH | $1,400 2,600 BGN |
| Per Month |
StudentCost of living and expenses break down for students living in Varna
Housing costs for Student19%
19% of total expenses on average (14% to 25%)
| LOW | $33 59 BGN |
| AVERAGE | $210 390 BGN |
| HIGH | $1,400 2,600 BGN |
| Per Month |
Utilities, Electricity, Water, Internet, and Mobile Expenses6%
6% of total expenses on average (4% to 10%)
| LOW | $5.5 9.8 BGN |
| AVERAGE | $36 64 BGN |
| HIGH | $240 430 BGN |
| Per Month |
Transport and Fuel Cost5%
5% of total expenses on average (5% to 11%)
| LOW | $9.5 17 BGN |
| AVERAGE | $62 110 BGN |
| HIGH | $420 750 BGN |
| Per Month |
Food and Groceries Expenditure22%
22% of total expenses on average (16% to 26%)
| LOW | $27 49 BGN |
| AVERAGE | $180 320 BGN |
| HIGH | $1,200 2,100 BGN |
| Per Month |
Healthcare Cost8%
8% of total expenses on average (5% to 11%)
| LOW | $8.2 15 BGN |
| AVERAGE | $53 96 BGN |
| HIGH | $360 640 BGN |
| Per Month |
Leisure and Shopping Cost3%
3% of total expenses on average (2% to 7%)
| LOW | $6.8 12 BGN |
| AVERAGE | $45 80 BGN |
| HIGH | $300 540 BGN |
| Per Month |
Education Cost19%
19% of total expenses on average (12% to 24%)
| LOW | $26 47 BGN |
| AVERAGE | $170 310 BGN |
| HIGH | $1,100 2,000 BGN |
| Per Month |
Other Expenses18%
18% of total expenses on average (12% to 24%)
| LOW | $20 37 BGN |
| AVERAGE | $130 240 BGN |
| HIGH | $890 1,600 BGN |
| Per Month |
