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Cost of Living in Venezuela | Expat Exchange
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Caracas, Venezuala

Cost of Living in Venezuela

By Betsy Burlingame

Last updated on May 07, 2023

Summary: The cost of living in Venezuela is generally quite low compared to other countries. A nice 1 bedroom apartment in Venezuela can cost anywhere from $200 to $400 US Dollars per month, while a nice 2 bedroom apartment can cost anywhere from $400 to $800 US Dollars per month. Dinner at a moderately priced restaurant in Venezuela can cost anywhere from $10 to $20 US Dollars per person.

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Is the cost of living in Venezuela high?

We asked people how much they someone comfortably live on in Venezuela, they wrote:

"The cost of living in Venezuela is generally quite low, with basic necessities such as food and transportation being relatively inexpensive. However, due to the country's economic crisis, the cost of living has been steadily increasing in recent years. Inflation has been particularly high, with prices for basic goods and services rising significantly. Additionally, the availability of certain goods and services can be limited due to shortages, making them more expensive," said one person in Venezuela.

Will I save money living in Venezuela?

"Financially, I live very well because the $ has gone up 800% inflation is enormous," said one expat in Porlamar.

"Living in Venezuela can be significantly cheaper than living in the United States. The cost of living in Venezuela is much lower than in the United States, with basic necessities such as food, housing, and transportation costing significantly less. Additionally, wages in Venezuela are much lower than in the United States, meaning that the same amount of money can go much further in Venezuela. As a result, living in Venezuela can be a much more affordable option than living in the United States," wrote a person living in Venezuela.

What is the average cost of housing in Venezuela?

If you are thinking about moving to Venezuela, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The housing average I don't know. But I know I'm paying a lot more in house and a lot less in the electrical bill," said one expat in Maracaibo.

"The cost of housing in Venezuela is generally quite high, with prices varying depending on the location and type of property. In general, the cost of renting a house or apartment in Venezuela is significantly higher than the cost of buying a property. Additionally, the cost of living in Venezuela is generally higher than in other countries in the region," wrote a person living in Venezuela.

"In comparison to South Florida, housing prices are much more expensive. There are expats who pay 3,000 Euro for a 3 bedroom, two bathroom apartment. I would say the average cost for a 2 bedroom, 2 bathroom apartment is about $1,200," explained one expat living in Caracas.

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What are typical rental prices for expats in Venezuela?

"The rental price for a nice 1 bedroom apartment in Venezuela can vary depending on the location, but generally ranges from around $200 to $400 per month. For a nice 2 bedroom apartment, the rental price can range from around $400 to $800 per month," said one expat living in Venezuela.

What appliances are typically included in a rental?

We asked foreigners in Venezuela what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"In Venezuela, rental properties typically include a refrigerator, stove, oven, and washing machine. Additionally, some properties may also include air conditioning units, dishwashers, and other appliances," commented one expat living in Venezuela.

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.

Caracas, Venezuala

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