Although the cost of living in Chile is expensive compared with most other countries in South America, residency comes with many benefits. International Living notes that Chile offers residents all the comforts of modern living, beautiful scenery, and the lowest level of corruption in Latin America. The country also has the strongest economy, a stable government, and the lowest level of poverty in South America.
Cost of Living in Chile
Numbeo offers the breakdown below as the average cost of living in Chile.
Average prices in Chile are approximately 38 percent cheaper than in New York City (NYC). Compared with NYC, rent in Chile is estimated to be more than 80 percent cheaper, groceries are 45 percent less, and restaurants 50 percent less.
The following average prices of goods and services in Chile are estimated in U.S. dollars:
Food and Drink
- Meal at an inexpensive restaurant — $6.94
- Three-course meal for two at a mid-priced restaurant — $37.76
- Milk (one liter) — $1.29
- Loaf of fresh white bread — $1.29
- Bottle of wine (mid-range) — $5.95
- Domestic Beer (one 0.5oz bottle) — $1.39
- One-way public transit fare — $1.21
- Monthly public transit pass — $47.59
- Taxi fee (per kilometer) —$1.98
- Gasoline (one liter) — $1.59
- Electric, Heat, Water, and Garbage (for an 82 square meter apartment) — $126.95
- Internet — $39.66
- One bedroom apartment in an urban area — $415.00
- Three bedroom apartment in an urban area — $793.10
- One bedroom apartment in a suburban area — $396.55
- Three bedroom apartment in a suburban area — $693.96
Real Estate Prices
- Price per square meter in an urban area — $1,800.00
- Price per square meter in a suburban area — $1891.38
- Average mortgage rate — 5 percent
- Monthly Fitness Club Membership — $55.00
- Movie Ticket — $7.73
- Brand name jeans (Levis or similar) — $60.00
- Casual dress (purchased from a chain store) — $50.00
- Brand name athletic footwear — $79.31
- Men’s dress shoes — $94.00
Living in Chile
According to InterNations, more than 17 million people live in Chile. Approximately 89 percent of residents live in the country’s cities and larger towns, like Santiago, Puente Alto, Valparaiso, Antofagasta, and Viña del Mar. In fact, approximately half the population of Chile lives in Santiago, the country’s capital city. Spanish is the official language of Chile. The country is known for having the best medical care in all of Latin America. Chile is also a very safe country, with violent crime rates lower than those of the U.S.
So while the cost of living in Chile may seem high compared to other countries in South America, consider the many advantages it has to offer. These benefits may serve as a suitable trade-off for the high price tag.