Cost Of Living in Yangon 2024

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

Whether you're living in Yangon or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.

Singles

The average monthly expense for a single person living in Yangon is 430,000 MMK. Expenses can range from 61,000 MMK at the minimum level to 2.9M MMK at the highest end.

Couples

The average monthly spending of couples in Yangon is 720,000 MMK. Expenditure can range from 240,000 MMK to 3.9M MMK per month.

Families

The average cost of living for families in Yangon is 960,000 MMK per month. Families spend anywhere from 340,000 MMK to 6.3M MMK.

Students

The average monthly expenditure for students in Yangon is 320,000 MMK. Students spend from 48,000 MMK to 2.1M MMK per month.

Expenditure to Income Ratio in Yangon

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.

Expense to income distribution levels

Interpretation and Analysis

The average spending-to-salary ratio in Yangon is 99% This means that on average, people spend around 99% of their income for living. According to the distribution table, 15% of the population spend approximately 60% to 70% of their income every month.

Individual
89%
Spending-Income-Ratio

---

83%

98%

Couple
94%
Spending-Income-Ratio

---

87%

100%

Family
100%
Spending-Income-Ratio

---

97%

110%

How do people spend their money in Yangon?

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

People living in Yangon typically spend from 12% to 31% of their total monthly expenditure on housing with 23% being the average. The average spend on housing is 190,000 MMK with expenditure ranging from 14,000 MMK to 1.9M MMK. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.

Utility expenditure like electricity, water, and gas in Yangon ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 31,000 MMK with 2,400 MMK and 310,000 MMK being the upper and lower limits.

Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 4,800 MMK to 630,000 MMK on commuting with 63,000 MMK being the norm for most people in one month. This means that money spent on transport constitutes about 7% of total spending on average but can go as low as 3% or as high as 11%.

The average outlay on groceries in a month in Yangon is 160,000 MMK. The cost of groceries can range between 12,000 MMK to 1.6M MMK. People spend on average about 28% on food and groceries with upper and lower bounds of 20% and 34% respectively.

People in Yangon allocate 5% to 13% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 10%. The range of medical expenses range from 3,400 MMK to 440,000 MMK with 44,000 MMK being the norm.

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 1,900 MMK to 250,000 MMK with 25,000 MMK being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.

Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 38,000 MMK per month with 2,900 MMK being the minimum spent amount and 380,000 MMK being the maximum.

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

Almost 64% of the surveyed people in Yangon said that they can save some money at the end of each month while 36% said that aren't saving anything.

Percentage of people saving money by population group in Yangon

Saving to Income Ratio

Average Monthly Saved Amount

For most people, 9.1% to 32% of their monthly income is what they can allocate to their savings, with 17% being the average. The amount of money that people can save is approximately 180,000 MMK on average with savings ranging from 14,000 MMK to 1.8M MMK.

64% of surveyed singles reported some of their income going to savings while 58% of couples said the same. 53% of families confirmed their ability to save money.

How much money do people actually save in Yangon?

Singles

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for singles

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 13% to 34% of their monthly income to savings, with 22% being the average for most singles. The average amount of money that singles are able to save is 130,000 MMK with 14,000 MMK and 830,000 MMK being the minimum and maximum respectively.

Couples

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 10% to 33% of their monthly income, with 19% being the average for most couples. The average amount of money that couples can save is 210,000 MMK with 69,000 MMK and 1.1M MMK being the minimum and maximum respectively.

Families

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for families

Interpretation and Analysis

Families in Yangon can save anywhere between 9.1% to 31% of their monthly income, with 16% being the average for most families. The average amount of money that families can put aside is 280,000 MMK with 97,000 MMK and 1.8M MMK being the minimum and maximum respectively.

Saving Challenges in Yangon

Reasons that make it difficult for people to save money

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

Around 5% of the people said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 13% of the residents said that they are burdened with debt and find it challenging to save money. 12% 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. 12% blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 5% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 21% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 13% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Typical saving choices for people in Yangon

Where do people choose to put their savings?

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

• 50% for needs and financial obligations

  This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

• 30% for wants and discretionary spending

  This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

• 20% for savings and emergency fund

  This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

Affordable living in Yangon

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Yangon?

Around 53% of surveyed residents think that living in Yangon is affordable with proper budgeting while 47% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Yangon

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 options62%

Few low-cost options38%

Based on the survey, 62% of the people living in Yangon have no problem finding low-cost alternatives to support a frugal lifestyle while 38% 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 Yangon whether they have an emergency fund and the answers were as follows.

Yes53%

No47%

Based on the survey, 47% of the people living in Yangon said that they don't have an emergency fund while 53% said that they do.

Financial Literacy in Myanmar

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 Leteracy42%

We asked residents of Myanmar whether they acquired any adequate personal financial training in their lives. Approximately 58% 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 42% 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 Myanmar have problems or difficulties in managing their expenditures and savings so we asked 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 Yangon

In an attempt to understand the economic situation in Yangon, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.

Around 8% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 43% said their number one priority is to pay off high-interest debt or loans and improve credit. 10% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 6% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 6% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 14% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Retirement, pension plans, and life after work in Yangon

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

Retirement age

The retirement age for most employees in Myanmar is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.

Retirement planning and savings

There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.

Retirement Income Distribution

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

Retirement Monthly Expenses in Yangon

Debt, loans, and mortgages in Yangon

Percentage of people who are in debt

According to the survey, 32% of the people in Yangon 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 Yangon

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 36% of the people's monthly income in Yangon goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Yangon pay 60%+ of their income as debt settlement while 19% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 15% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 17% dedicated 30% to 40% of income for same. Things are looking brighter for 10% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Yangon

8% of debtors in Yangon confirm that real estate mortgages constitutes the main part of their outstanding debt while 30% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 14% of people and personal loans rose at 44%. Lastly, student loans are the main source of debt for 4% of debtors in Yangon.

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 Yangon

Besides measuring the loan-to-income ratio, we asked residents of Yangon how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Housing costs, accommodation, and housing affordability in Yangon

Rent Cost in Yangon

Monthly Rent Prices

Studio apartment monthly rent cost

52,000 MMK

78,000 MMK

210,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$25

$37

$99

1-bedroom apartment monthly rent cost

78,000 MMK

120,000 MMK

310,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$37

$59

$150

2-bedroom apartment monthly rent cost

100,000 MMK

160,000 MMK

410,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$49

$74

$200

3-bedroom apartment monthly rent cost

120,000 MMK

210,000 MMK

560,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$59

$99

$270

Furnished apartment monthly rent cost

250,000 MMK

620,000 MMK

1.2M MMK

MINIMUM

AVERAGE

MAXIMUM

$120

$300

$590

Townhouse monthly rent cost

210,000 MMK

310,000 MMK

890,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$99

$150

$420

House monthly rent cost

250,000 MMK

620,000 MMK

1.2M MMK

MINIMUM

AVERAGE

MAXIMUM

$120

$300

$590

Villa monthly rent cost

310,000 MMK

780,000 MMK

1.2M MMK

MINIMUM

AVERAGE

MAXIMUM

$150

$370

$590

The monthly rental cost of a studio apartment in Yangon ranges between 52,000 MMK and 210,000 MMK, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 78,000 MMK to 310,000 MMK. Two-bedroom rentals rate ranges between 100,000 MMK and 410,000 MMK per month. The monthly rental for a three-bedroom apartment ranges from 120,000 MMK to 560,000 MMK. The average rent of a townhouse in Yangon is around 310,000 MMK while house rental costs can be as high as 620,000 MMK per month. Finally, if you want to rent a villa, expect to pay anywhere from 310,000 MMK to 1.2M MMK per month.

Apartment and house prices in Yangon

Cost of buying a property

Studio apartment price

10M MMK

16M MMK

31M MMK

MINIMUM

AVERAGE

MAXIMUM

$4,900

$7,400

$15,000

1-bedroom apartment price

12M MMK

21M MMK

78M MMK

MINIMUM

AVERAGE

MAXIMUM

$5,900

$9,900

$37,000

2-bedroom apartment price

21M MMK

62M MMK

120M MMK

MINIMUM

AVERAGE

MAXIMUM

$9,900

$30,000

$59,000

3-bedroom apartment price

69M MMK

100M MMK

310M MMK

MINIMUM

AVERAGE

MAXIMUM

$33,000

$49,000

$150,000

Townhouse price

89M MMK

210M MMK

780M MMK

MINIMUM

AVERAGE

MAXIMUM

$42,000

$99,000

$370,000

House price

100M MMK

620M MMK

890M MMK

MINIMUM

AVERAGE

MAXIMUM

$49,000

$300,000

$420,000

Villa price

120M MMK

690M MMK

1,000M MMK

MINIMUM

AVERAGE

MAXIMUM

$59,000

$330,000

$490,000

The average price of a studio apartment in Yangon can range from 10M MMK to 31M MMK depending on location. One bedroom cost can be anywhere from 12M MMK to 78M MMK. A villa can cost you 690M MMK on average with prices ranging from 120M MMK to 1,000M MMK.

House / apartment prices to income ratio

Property prices in Yangon can be x93 to x215 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x93 multiples of the average monthly salary in Yangon.

Rent to income ratio

The average rent-to-income ratio in Yangon is around 32%. This means that people pay 32% of their income for rent. Those figures can range from 20% to 43% depending on the salary, location, and type of property.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Yangon

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

Utility Bill Cost / Electricity + Water + Gas / Individual

3,600 MMK

26,000 MMK

170,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$1.7

$12

$83

Utility Bill Cost / Electricity + Water + Gas / Couple

9,600 MMK

32,000 MMK

210,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$4.6

$15

$100

Utility Bill Cost / Electricity + Water + Gas / Family

17,000 MMK

48,000 MMK

310,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$8

$23

$150

Internet and cable cost

2,800 MMK

5,700 MMK

7,500 MMK

MINIMUM

AVERAGE

MAXIMUM

$1.3

$2.7

$3.6

Mobile phone bill and charges

2,300 MMK

3,800 MMK

11,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$1.1

$1.8

$5.4

The average monthly expenditure for individuals on electricty, water, and gas in Yangon ranges between 3,600 MMK and 170,000 MMK with average being 26,000 MMK, meanwhile the expenditure of couples is slightly higher at 32,000 MMK with 9,600 MMK and 210,000 MMK 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 48,000 MMK. The cost of internet and WiFi is unchanged among the three groups and ranges from 2,800 MMK to 7,500 MMK with 5,700 MMK being the average internet bill. Finally, the average monthly mobile charges is around 3,800 MMK but can range between 2,300 MMK and 11,000 MMK depending on consumption. Mobile charges include both calling minutes as well as data packages.

Energy / Utility expense to income ratio

The average utility-to-income ratio in Yangon is around 7.9%. This means that people pay 7.9% of their income for energy, water, internet, and mobile charges. Those figures can range from 4.5% to 13% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Yangon

Prices and cost of goods and services in Yangon

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

Fast food combo meal price

570 MMK

1,100 MMK

1,900 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.27

$0.54

$0.90

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Yangon is approximatly 1,100 MMK with meal cost ranging from 570 MMK to 1,900 MMK. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

2,000 MMK

3,000 MMK

5,900 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.94

$1.4

$2.8

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 2,000 MMK and 5,900 MMK with 3,000 MMK being the average price of a plate for one person at a regular restaurant in Yangon.

Fine dining meal for one price

4,000 MMK

5,900 MMK

24,000 MMK

MINIMUM

AVERAGE

MAXIMUM

$1.9

$2.8

$11

The price range of a meal at fine-dining restaurant is 4,000 MMK to 24,000 MMK with the average cost being 5,900 MMK for one person. This is what you would expect to pay a top-tier diner in Yangon.

Beverage prices, cappuccino, latte etc..

470 MMK

750 MMK

1,100 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.22

$0.36

$0.54

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Yangon is around 750 MMK. Price ranges between 470 MMK and 1,100 MMK depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

380 MMK

450 MMK

570 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.18

$0.22

$0.27

The average price of a large bottle of milk in Yangon is 450 MMK. The maximum what you would pay for milk is 570 MMK and the minimum being 380 MMK depending on the brand of milk and other properties.

12 eggs price

280 MMK

380 MMK

570 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.13

$0.18

$0.27

A dozen eggs costs around 380 MMK on average with 280 MMK and 570 MMK being the lower and upper limits respectively.

Fresh whole chicken price

640 MMK

830 MMK

1,200 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.31

$0.40

$0.56

The price range of a fresh whole chicken in Yangon is between 640 MMK and 1,200 MMK depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 830 MMK.

Pack of beef price

750 MMK

1,100 MMK

2,300 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.36

$0.54

$1.1

The price of a regular pack of beef or meat is around 1,100 MMK. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

300 MMK

420 MMK

590 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.14

$0.20

$0.28

A bag of rice in Yangon costs around 420 MMK on average with prices rangeing between 300 MMK and 590 MMK depending on the brand and quality.

Bag of tomatos price

110 MMK

150 MMK

280 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.05

$0.07

$0.13

A bag of tomatoes costs anywhere from 110 MMK to 280 MMK. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

200 MMK

260 MMK

440 MMK

MINIMUM

AVERAGE

MAXIMUM

$0.10

$0.13

$0.21

A bag of apples costs 260 MMK on average. A bag of apples denotes 1Kg or 1lb depending on location.

Grocery and food expenditure to income ratio

The average grocery-to-income ratio in Yangon is around 31%. This means that people spend 31% of their income on grocery and basic household items. The expenditure can range from 22% to 38% depending on salary and location.

Expenditure on food and grocery for every population group

A single person living alone spends approximately 69,000 MMK per month on grocery and food with expenditure fluctuating between 9,700 MMK and 460,000 MMK depending on location and the type of person. The average cost of food and groceries for a couple is around 100,000 MMK per month. That number can be get as low as 34,000 MMK or a high as 540,000 MMK. Families' spending on grocery ranges from 61,000 MMK to 1.1M MMK 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 Yangon

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

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

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