MigrantoCost of living in Colombia
What a month costs, how prices compare with other countries, and where the money goes
Monthly cost in Colombia
Spending runs from COP 344,000 a month in the poorest fifth to COP 6,390,000 in the richest
Per person, whole country
COP 1,250,000
what a typical person spends in a month
Spending across the population
COP 344,000richest 20%
COP 6,390,000
Where people spend money in Colombia
One person's out-of-pocket spending, averaged across the whole country
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Key facts
The cost of living in Colombia in numbers
The richest fifth spends 18.5× the poorest
Spending runs from COP 344,000 a month in the poorest fifth to COP 6,390,000 in the richest, which is #2 of 185 countries by that gap. A single national average hides a lot here.
The cheapest of its neighbours
No neighbouring country is cheaper. The same basket costs COP 3,140,000 here against COP 3,480,000 in Ecuador, the closest on price.
Typical spending takes 59% of the average wage
A typical person spends COP 1,250,000 a month while the average take-home wage is COP 2,130,000, so 41% of an average wage sits above what a typical person spends.
Housing takes an unusual share of the budget
It absorbs 13.6% of spending here, or COP 170,000 a month, against 18.4% in a typical country, 4.8 points less.
How living costs in Colombia compare
Neighbours, region and the world on the same monthly figure
What things cost here
How much the same goods and services cost in Colombia against other countries
Cheaper than 63% of countries
Where Colombia sits when every country is lined up from cheapest to most expensive
Pakistanmost expensive
Bermuda
middle
A basket of goods and services that costs COP 3,550,000 at world-middle prices costs COP 3,140,000 here.
Data source: household consumption 2024 (World Bank), International Comparison Program 2021 (World Bank), category breakdown 2023 (United Nations Statistics Division), adjusted to 2026 using IMF GDP-per-capita growth
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What it costs to live in Colombia
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Cost of living in Colombia
COP 344,000/mo
vs COP 2,840,000 in your country
Take-home
COP 1,490,000
vs COP 4,260,000 in your country
Potential savings
COP 1,150,000
more than in your country
Standard of living
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Frequently asked questions
What is the cost of living in Colombia?
A typical person in Colombia spends about COP 1,250,000 a month — around COP 15,000,000 a year — on housing, groceries, transport and other everyday costs. It's a nationwide average across different regions, cities and types of housing.
What is the standard of living in Colombia?
By spending, Colombia ranks #93 of 185 countries. A typical person spends about COP 1,250,000 a month, the poorest 20% about COP 344,000 and the richest 20% about COP 6,390,000. The gap between them shows how unevenly people live.
What is the cost of living in Colombia in US dollars?
The cost of living in Colombia is about $351 a month, or roughly $4,212 a year per person.
How much money do you need to live comfortably in Colombia?
It all depends on your standard of living. A modest budget runs about COP 344,000 a month per person, a typical one around COP 1,250,000, and a comfortable life around COP 2,090,000. In big cities and for a family, costs are usually higher.
What do people spend the most on in Colombia?
The biggest expense is groceries, at about COP 280,000 a month (23% of spending). Then come housing (COP 170,000, 14%) and dining out (COP 146,000, 12%).
Is the average salary in Colombia enough to live on?
Yes, with room to spare. Average spending is about COP 1,250,000 a month, while the average take-home pay in Colombia is about COP 2,130,000. For more on incomes, see salaries in Colombia.
Is Colombia an expensive country to live in?
Somewhat. Colombia is more expensive than 50% of countries worldwide and ranks 22nd of 33 in Latin America by cost of living.
What currency is used in Colombia?
Colombia uses the Colombian Peso (COP). Amounts on this page are shown in it; the currency switcher converts them.
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Living in Colombia
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