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Expat Exchange - Cost of Living in Lima 2024
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Cost of Living in Lima

By Betsy Burlingame

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Summary: Understanding the the cost of living in Lima helps a newcomer what to expect when it comes to apartment or house hunting, grocery shopping, transportation, dining out, utilities and more.

Cost of Living Lima
Apartment Rentals Rent for a one-bedroom apartment in the city center can range from $400 to $1,000 per month, while a three-bedroom apartment can range from $800 to $2,000 per month. Rent for a one-bedroom apartment outside the city center can range from $200 to $600 per month, while a three-bedroom apartment can range from $400 to $1,000 per month.
Apartment Purchases The cost of purchasing an apartment in Lima can range from $1,000 to $2,500 per square meter. The cost of purchasing a house in Lima can range from $1,500 to $3,000 per square meter.
Transportation The cost of public transportation in Lima is very affordable. A one-way ticket on the bus costs around $0.50, while a one-way ticket on the metro costs around $1.50. Taxis are also available and the cost of a ride can range from $3 to $10, depending on the distance.
Groceries The cost of groceries in Lima is relatively low. A loaf of bread can cost around $1, while a liter of milk can cost around $1.50. A kilogram of rice can cost around $2, while a kilogram of chicken can cost around $4.
Restaurants The cost of eating out in Lima can vary greatly. A meal at a fast food restaurant can cost around $5, while a meal at a mid-range restaurant can cost around $15. A meal at a high-end restaurant can cost around $30.
Utilities The cost of utilities in Lima can vary depending on usage. The average cost of electricity for a two-bedroom apartment can range from $30 to $50 per month. The average cost of water for a two-bedroom apartment can range from $10 to $20 per month.
Private School Tuition The cost of private school tuition in Lima can vary greatly. The cost of preschool tuition can range from $200 to $500 per month. The cost of elementary school tuition can range from $400 to $1,000 per month. The cost of middle school tuition can range from $500 to $1,500 per month. The cost of high school tuition can range from $600 to $2,000 per month.

Monthly Budget for Retirees in Lima

"The cost of living in Lima is generally considered to be quite affordable. Basic necessities such as food, transportation, and housing are all relatively inexpensive compared to other cities in the region. Additionally, the cost of entertainment and leisure activities is also quite reasonable. Overall, Lima is a great place to live for those looking for a low cost of living," said one expat living in Lima.

Can I live in Lima on $1,500 a month?

"I've been living in Lima for a while now, and I can tell you that it's definitely possible to live comfortably on $1,500 a month, but you'll have to make some sacrifices. First, you'll need to choose an affordable neighborhood to live in. Some of the more expensive neighborhoods like Miraflores, San Isidro, and Barranco might be out of your budget, but there are other great options like Surco, Lince, or Magdalena del Mar that are more affordable and still offer a good quality of life.Rent will be your biggest expense, so try to find a small apartment or share a place with roommates to save money. You can expect to pay around $300-$500 a month for a decent place in an affordable neighborhood. Utilities like electricity, water, and internet will add another $100-$150 to your monthly expenses.When it comes to food, eating out at restaurants can be quite expensive, especially in the more touristy areas. However, you can save a lot of money by cooking at home and shopping at local markets. You can easily spend around $200-$300 a month on groceries if you're smart about it.Transportation is relatively cheap in Lima. You can use the Metropolitano bus system or the Metro for around $1 per ride, or you can take taxis or Uber for a bit more. If you're not traveling too far, you can expect to spend around $50-$100 a month on transportation.Entertainment and leisure activities can also be affordable if you're careful. There are plenty of free or low-cost events and attractions in the city, and you can find affordable bars and clubs if you avoid the more upscale areas. Set aside around $100-$200 a month for entertainment, and you should be able to enjoy yourself without breaking the bank.In total, you can expect to spend around $1,000-$1,200 a month on basic living expenses, leaving you with a few hundred dollars for savings or unexpected expenses. It won't be a luxurious lifestyle, but you can definitely live comfortably in Lima on $1,500 a month if you're willing to make some sacrifices and be smart about your spending," commented an expat living in Lima.

Can I live in Lima on $3,500 a month?

"I've been living in Lima for a while now, and I can tell you that it's definitely possible to live comfortably on $3,000 a month, even if you're used to modern amenities. However, you might have to make some sacrifices in terms of the neighborhood you choose to live in and the type of housing you opt for.For example, some of the more upscale neighborhoods like Miraflores, San Isidro, and Barranco can be quite expensive, especially if you're looking for a modern apartment with all the amenities. In these areas, you might have to settle for a smaller apartment or one that's a bit older in order to stay within your budget.On the other hand, there are more affordable neighborhoods like Surco, Magdalena, and Pueblo Libre where you can find larger, more modern apartments for a lower price. These areas might not be as trendy or centrally located as the more expensive neighborhoods, but they still offer a good quality of life and access to modern amenities.In terms of other expenses, you'll find that groceries, transportation, and entertainment are generally quite affordable in Lima. Eating out at local restaurants can be very cheap, but if you prefer dining at more upscale establishments, you might have to cut back on how often you do so in order to stay within your budget.Overall, I think it's definitely possible to live comfortably in Lima on $3,000 a month, but you'll need to be mindful of your housing choices and be willing to make some sacrifices in terms of location and apartment size," said one expat living in Lima.

Can I live in Lima on $5,000 a month?

"I've been living in Lima for a while now, and I can tell you that it's definitely possible to live comfortably on $5,000 a month, even if you're used to modern amenities. In fact, you might not have to make too many sacrifices at all. Lima has a wide range of neighborhoods, some more affordable than others, so you'll have plenty of options to choose from.For example, if you're looking for a more upscale neighborhood, you might want to consider areas like Miraflores, San Isidro, or Barranco. These neighborhoods are known for their safety, beautiful parks, and access to modern amenities like shopping centers, restaurants, and nightlife. However, they can be a bit more expensive, so you might have to budget a bit more carefully if you choose to live in one of these areas.On the other hand, there are more affordable neighborhoods like Surco, Lince, or Magdalena del Mar. These areas still offer a good quality of life, with access to modern amenities, but at a lower cost. You'll find that your money goes a lot further in these neighborhoods, so you won't have to make as many sacrifices in terms of your lifestyle.In terms of specific costs, you can expect to pay around $1,000 to $1,500 a month for a nice apartment in a more upscale neighborhood, while a similar apartment in a more affordable area might cost you around $500 to $800 a month. Utilities and other expenses like groceries and transportation are also quite reasonable in Lima, so you should be able to live quite comfortably on your budget.Overall, I think you'll find that Lima offers a great balance between affordability and access to modern amenities. As long as you choose your neighborhood wisely and budget accordingly, you should be able to enjoy a comfortable lifestyle without making too many sacrifices," commented an expat living in Lima.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.


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