The average for 2021 based on 11 countries was 67.5 index points. The highest value was in Uruguay: 100.24 index points and the lowest value was in Suriname: 43.15 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

According to a recent study, Colombia had the lowest monthly cost of living in Latin America with 546 U.S. dollars needed for basic living. In contrast, four countries had a cost of living above one thousand dollars, Costa Rica, Chile, Panama and Uruguay. In 2022, the highest minimum wage in the region was recorded by Ecuador with 425 dollars per month.

Can Latin Americans survive on a minimum wage? Even if most countries in Latin America have instated laws to guarantee citizens a basic income, these minimum standards are often not enough to meet household needs. For instance, it was estimated that almost 22 million people in Mexico lacked basic housing services. Salary levels also vary greatly among Latin American economies. In 2022, the average net monthly salary in Brazil was lower than Ecuador's minimum wage.

What can a minimum wage afford in Latin America? Latin American real wages have generally risen in the past decade. However, consumers in this region still struggle to afford non-basic goods, such as tech products. Recent estimates reveal that, in order to buy an iPhone, Brazilian residents would have to work more than two months to be able to pay for it. A gaming console, on the other hand, could easily cost a Latin American worker several minimum wages.

As of mid-2025, Port of Spain ranked as the second Latin American and Caribbean city with the highest cost of living. The capital of ******************* obtained an index score of ****, followed by the ********* capital, with **** points.

Montevideo, Uruguay's capital, leads Latin American cities with the highest apartment sale prices in 2025, averaging ***** U.S. dollars per square meter. This figure surpasses other major metropolitan areas like Mexico City and Buenos Aires, highlighting significant disparities in real estate markets across the region. The data underscores the varying economic conditions and housing demand in different Latin American urban centers. Regional housing market trends While Montevideo tops the list for apartment prices, other countries in Latin America have experienced notable changes in their housing markets. Chile, for instance, saw the most substantial increase in house prices since 2010, with its nominal house price index surpassing *** points in early 2025. However, when adjusted for inflation, Mexico showed the highest inflation-adjusted percentage increase in house prices, growing by nearly *** percent in the first quarter of 2025, contrasting with a global decline of one percent. Home financing in Mexico The methods of home financing vary across Latin America. A breakdown of homeownership by financing method in Mexico reveals that about two-thirds of owner-occupied housing units were financed through personal resources in 2022. Nevertheless, government-backed loans such as Infonavit (Mexico’s National Housing Fund Institute), Fovissste (Housing Fund of the Institute for Social Security and Services for State Workers), and Fonhapo (National Fund for Popular Housing), play an important role for homebuyers, with just over ** percent of home purchases relying on such finance. Bank credit, which offers mortgage loans with interest rates ranging between **** and ** percent, appeared as a less popular option.

This dataset is about countries in South America. It has 12 rows. It features 3 columns: expense, and urban population living in areas where elevation is below 5 meters .

Context

Already more than 18 years of history, this compilation of the main results regarding the cost of living in some Latin American countries allows a clearer view of more than a decade of results inflation in the region

Acknowledgements

I collected all these figures from each individual official authority on each of the countries, you could see the data source on the file for each row

Inspiration

I always looked for this data, but usually, some places only consolidate estimations or predictions from global financial authorities rather than go directly to the country sources

West Virginia and Kansas had the lowest cost of living across all U.S. states, with composite costs being half of those found in Hawaii. This was according to a composite index that compares prices for various goods and services on a state-by-state basis. In West Virginia, the cost of living index amounted to **** — well below the national benchmark of 100. Virginia— which had an index value of ***** — was only slightly above that benchmark. Expensive places to live included Hawaii, Massachusetts, and California. Housing costs in the U.S. Housing is usually the highest expense in a household’s budget. In 2023, the average house sold for approximately ******* U.S. dollars, but house prices in the Northeast and West regions were significantly higher. Conversely, the South had some of the least expensive housing. In West Virginia, Mississippi, and Louisiana, the median price of the typical single-family home was less than ******* U.S. dollars. That makes living expenses in these states significantly lower than in states such as Hawaii and California, where housing is much pricier. What other expenses affect the cost of living? Utility costs such as electricity, natural gas, water, and internet also influence the cost of living. In Alaska, Hawaii, and Connecticut, the average monthly utility cost exceeded *** U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.

This scatter chart displays urban population living in areas where elevation is below 5 meters (% of total population) against expense (% of GDP) in South America. The data is about countries.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Horry County, SC (MWACL45051) from 2009 to 2023 about Horry County, SC; Myrtle Beach; adjusted; SC; average; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Greenwood County, SC (MWACL45047) from 2016 to 2023 about Greenwood County, SC; adjusted; SC; average; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Charleston County, SC (MWACL45019) from 2009 to 2023 about Charleston County, SC; Charleston; adjusted; SC; average; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Spartanburg County, SC (MWACL45083) from 2009 to 2023 about Spartanburg County, SC; Spartanburg; adjusted; SC; average; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Minnehaha County, SD (MWACL46099) from 2009 to 2023 about Minnehaha County, SD; Sioux Falls; SD; adjusted; average; wages; real; and USA.

Detailed cost of living comparison between South Africa and American Samoa

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Greenville County, SC (MWACL45045) from 2009 to 2023 about Greenville County, SC; Greenville; adjusted; SC; average; wages; real; and USA.

Detailed cost of living comparison between French Southern Territories and American Samoa

The Latin American condominiums and apartments market is experiencing robust growth, driven by factors such as rapid urbanization, rising disposable incomes, and a growing preference for modern, convenient living spaces. The market, valued at approximately $XX million in 2025 (assuming a reasonable market size based on similar developing markets and the provided CAGR), is projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 5% through 2033. Key growth drivers include increasing tourism in popular destinations like Mexico and Brazil, the expansion of the middle class seeking improved housing, and government initiatives promoting real estate development. However, economic instability in certain regions, regulatory hurdles, and fluctuations in construction material costs pose potential restraints to growth. The market is segmented by country (with Brazil, Mexico, and Argentina representing the largest segments), property type (luxury vs. affordable), and location (urban vs. suburban). Significant investment from both domestic and international players like Tishman Speyer, Hines Group, and others, indicates strong investor confidence and contributes to the market's expansion. Consumption analysis reveals a strong demand for apartments, especially in larger metropolitan areas, fueled by younger demographics and rising rental costs. Import and export analyses indicate potential for increased international collaboration in construction materials and specialized building technologies. Price trends suggest that property values will continue to appreciate, though the rate may fluctuate due to macroeconomic conditions. Further analysis indicates regional disparities. While Brazil and Mexico lead in market size and development, countries like Colombia and Peru are experiencing notable growth owing to burgeoning economies and increased foreign direct investment in their real estate sectors. The competitive landscape is dynamic with both large multinational developers and local players vying for market share. The sustained growth is expected to lead to increased job creation within the construction and real estate industries and further contribute to the economic development across Latin America. The market’s future prospects are positive, though maintaining economic stability and addressing regulatory challenges will be crucial for realizing the full potential of this growing sector. Recent developments include: December 2022: Casai, a tech-driven apartment rental company, is merging with Nomah, a rental company based in Brazil. The merger will create the largest short-term rental company in Latin America, with over 3,000 units in Brazil and Mexico., December 2022: Northmarq arranged the sale of two Albuquerque apartment communities. The assets were sold by ABQ Encore LLC and Uptown Horizon Apartments LLC to Crescent Sky Real Estate Partners' CS ABQ Encore and CA ABQ Uptown. ABQ Encore, located at 810 Eubank Blvd. NE has 129 residences divided into 331-square-foot studio units and 551-square-foot one-bedroom units.. Notable trends are: Increasing Sales of Apartments Driving the Market.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for St. Joseph County, IN (MWACL18141) from 2009 to 2023 about St. Joseph County, IN; South Bend; adjusted; IN; average; wages; real; and USA.

Co-Living Space Market Outlook

According to our latest research, the Global Co-Living Space market size was valued at $21.4 billion in 2024 and is projected to reach $72.6 billion by 2033, expanding at a robust CAGR of 14.2% during the forecast period of 2024–2033. The primary driver fueling this substantial growth is the rising demand for affordable and flexible housing solutions among urban millennials and young professionals worldwide. As urbanization accelerates and the cost of living in major cities continues to soar, co-living spaces offer a compelling alternative by combining affordability, convenience, and a sense of community. This evolving lifestyle preference, coupled with technological advancements in property management and digital platforms, is reshaping the residential real estate landscape and positioning co-living as a mainstream solution for the future of urban living.

Regional Outlook

North America currently commands the largest share of the global co-living space market, accounting for nearly 35% of total market revenue in 2024. This dominance is attributed to the region’s mature real estate infrastructure, high urbanization rates, and a robust ecosystem of tech-enabled property management companies. Cities such as New York, San Francisco, and Toronto have witnessed a surge in co-living developments, driven by a growing population of young professionals and students seeking cost-effective and socially engaging living arrangements. Furthermore, favorable regulatory frameworks and the proliferation of venture-backed startups have accelerated the adoption of co-living models, making North America a benchmark for operational excellence and innovation in the sector.

The Asia Pacific region is emerging as the fastest-growing market, projected to register a remarkable CAGR of 17.8% from 2024 to 2033. This growth trajectory is propelled by rapid urban migration, a burgeoning middle class, and escalating property prices in metropolitan hubs like Beijing, Mumbai, Singapore, and Sydney. Governments in the region are increasingly supportive of alternative housing formats to address urban housing shortages, while real estate developers and institutional investors are ramping up investments in co-living projects. The region’s youthful demographic profile and cultural openness to shared living further catalyze market expansion, positioning Asia Pacific as a critical engine for future growth in the global co-living space market.

In emerging economies across Latin America, the Middle East, and Africa, the adoption of co-living spaces is gaining momentum but faces unique challenges. Limited awareness, regulatory ambiguities, and varying cultural perceptions of shared living can hinder rapid adoption. However, as urbanization intensifies and the demand for affordable housing rises, these markets present significant untapped potential. Localized demand is being addressed through partnerships with universities, corporations, and local governments, while regulatory reforms and pilot projects are gradually paving the way for broader acceptance. Despite infrastructural and policy hurdles, the long-term outlook for co-living in these regions remains optimistic, especially as global operators and investors begin to explore these nascent markets.

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