Cost of Living in Ecuador
Last updated on Feb 06, 2023
Summary: The cost of living in Ecuador is generally quite affordable. A nice one bedroom apartment can cost anywhere from $400 to $800 per month in US Dollars, while a nice two bedroom apartment can cost anywhere from $600 to $1,200 per month in US Dollars. The cost of dinner at a moderately priced restaurant can range from $10 to $20 per person in US Dollars.
Is the cost of living in Ecuador high?
We asked people how much they someone comfortably live on in Ecuador, they wrote:
"The cost of living in Ecuador is generally lower than in more developed countries, especially in rural areas. Prices for basic goods, such as groceries and accommodation, are particularly affordable, making it possible for expats to maintain a comfortable lifestyle on even modest wages," said one expat in Ecuador.
"Very comfortable Under 2,000. It depends on where you live — mountains or beach," remarked another in Manta .
Will I save money living in Ecuador?
"Living in Ecuador can be much more economical compared to living in other countries. You can usually find decent rental prices, particularly if you are living in smaller towns and cities. Food costs may also be lower, as you can find seasonal fruits and vegetables at local markets and grocery stores. Similarly, transportation costs can be relatively low, and gas prices tend to be less expensive than in the United States," remarked another in Ecuador.
"Yes, I live on much less than I would have to spend in the US. Living expenses are much lower. I can safe some money for future travels," explained one expat.
What is the average cost of housing in Ecuador?
If you are thinking about moving to Ecuador, cost of living in probably a key consideration. Expats commented about the cost of housing:
"You don't need a car in Cuenca because there is a tram, buses, and taxis that are very inexpensive, especially for seniors. That is a big savings just for gas, insurance and maintenance. In Cuenca, you do not need AC or heat. A little portable heater at breakfast will suffice. The water is very cheap, $8-$10/mo. Some may try to give you tourist prices on rent or buying. Shop around.. There are some very reasonable prices. Plus, the interest rates for 1 year cd's so much better than US! Enjoy," said another expat in Ecuador.
"They are much lower. The average cost is hard to say because the range is so broad depending on what you want. I will say the property taxes are 1% of the purchase price per year," added another person living in Salinas.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
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