How Much Does a Comfortable Life in Uruguay Cost? A retired couple may live well in Uruguay for between $1,500 and $2,000 per month. This is less than what many people spend in America - but not everyone can live like this there. The typical retirement income in Uruguay is about $600 per month, which is less than what most people have in America.
They will need to save 15-20% of their income to fund their retirement. This is similar to how much money most Americans need to save in order to reach the same goal.
The true cost of living in Uruguay is more than what appears on first glance. In fact, living here in Montevideo costs less than half of what it does in New York or London. So if you can handle the heat, the poverty-level salary, and lack of health insurance, then you could save enough money to live comfortably after retirement.
Overall, living in Uruguay after retirement is possible but not easy. If you are used to spending more than you make, then you should consider saving every dollar you can instead of blowing it on luxury items. But if you want to live large off one low salary, then you should look elsewhere as life in Montevideo is not perfect.
The cost of living in Uruguay is 27.95 percent lower than in the United States, according to Numbeo.com, a website that gathers price data from people. While the cost of living will vary depending on your lifestyle and particular area, you should definitely spend around $3,000 per month. Renting a one-bedroom apartment in Montevideo will set you back approximately 575 dollars per month.
In terms of purchasing goods, prices are also relatively low. The cost of an average meal in Uruguay is 2.91 dollars, while the price of a movie ticket is about 3.70 dollars. However, services such as transportation and accommodation are more expensive. In fact, these are by far the two most expensive categories. If you're looking to save some money, then you should consider spending it on experiences rather than material goods.
Overall, you can expect to spend around $3,000 per month on food, transport, and rent in Montevideo. A low-income pension of U$S 10,000 ($5,500) would not be enough to live on. You would need to find another source of income to make up for the deficit.
However, if you want to live like a local, then this amount might be enough. Depending on how much time you want to spend working and what kind of job you can find, you could probably survive with less money.
Without rent, a family of four would spend $2,287 ($99,943 $U) every month. Without rent, a single person's monthly expenditures are expected to be $645 ($28,208 $U). Uruguay's cost of living is, on average, 28.37 percent cheaper than that of the United States. Rent in Uruguay is 67.06 percent cheaper than in the United States on average.
In addition to having one of the lowest costs of living in South America, Uruguay is also ranked as one of the most affordable countries in which to live and buy property. Housing prices are low by international standards and there's a high level of home ownership. However, like many other Western countries, Uruguay has experienced an increase in house prices over the past few years.
Generally, prices vary depending on how far you live from the city center and whether you choose a house or an apartment. In capital city Montevideo, apartments go for about $60-$80 per square meter (11-16 feet), while houses can cost up to $150,000. Outside of the capital, apartments range from $20-$40 per square meter and houses from $100,000- $300,000.
Transportation is very expensive in Uruguay. The minimum wage is about $260 a month, but most people make less than this. Therefore, most families cannot afford to live without some kind of subsidy. The good news is that such subsidies exist for those who need them.