Cost of Living in Ecuador

Cost of Living in Ecuador

In Ecuador, not only can you retire on little money, you can also live very well. It’s easy to retire on less than $17,000 per year, and this figure is based on a very comfortable lifestyle. Many foreign residents have their main home in the city, and also have a country home, a beach property, or even property in another country…a feat that would be impossible on a comparable budget in the U.S.

Additionally, this low cost of living in Ecuador allows retirees to increase their travel, take up new hobbies and generally enjoy a better quality of life. Ecuador offers something for everyone, and at prices unheard of in North America and Europe.

Here is a sample budget for a couple living very well in Cuenca. The expenses are, of course, approximate. We’ve erred on the side of extra spending to come up with a budget that allows for a pretty luxurious lifestyle…for less than $20,000 a year for two people.

Sample monthly budget for a couple in Cuenca:

  • Housing (rental of luxury two-bedroom apartment): $500
  • Utilities: $150
  • Maid (twice a week): $60
  • Groceries: $275
  • Maintenance and fuel for one car: $140
  • Clothing: $70
  • Entertainment (two people dining out eight times a month at top restaurants): $200
  • Health care (four $30 visits to a doctor per year for two people, divided by 12 months): $20

That’s a total of $1,415 per month or $16,980 per year.

But you don’t have to spend that much. The truth is, you could rent a modest apartment for as little as $250 monthly, spend $50 on utilities, eat out for $10 or $15, drive a fuel efficient car…and you’d be living very comfortably for closer to $850 a month—that’s only $10,200 a year.

*Prices as of 2013

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