Baku is a large city located in Azerbaijan with a metropolitan area population of 2,166,355. A couple could live a moderate lifestyle in Baku on a budget of $1,077 per month, or $12,928 per year.
Cost of Living in Baku, Azerbaijan
As noted above, the cost of living in Baku, Azerbaijan is $1,077 per month for a couple living a moderate lifestyle. This budget consists of $469 for housing related costs, $296 for food, and $312 for other costs, all of which will be broken down below.
- A one-bedroom apartment in the city center of Baku is estimated to cost $387
- Basic utilities including electricity, water, and gas will run about $62
- High-speed internet averages $19
- Typical grocery costs of $184 per month include things like bread, eggs, milk, cheese, rice, chicken breast, bottled water, fruits, and vegetables
- Alcohol including beer and wine for moderate home consumption costs about $49
- Frequent coffees in a neighborhood café are estimated to be about $63
- Meals out are estimated to be $165 per month, including 4 meals in mid-range restaurants and 8 in inexpensive restaurants
- Transportation costs of $29 for public transport passes and occasional taxis
- Fitness center memberships of $95
- Cinema tickets of $24 include several outings for international releases
Note that Baku, Azerbaijan is a not very walkable city with a Walk Score of 25/100, which means you definitely need a car if you are living in the city center and public transportation may not be very accessible or convenient.
Amount of Money Needed to Retire in Baku, Azerbaijan
Many people searching the internet for the cost of living in Baku, Azerbaijan are doing so to see if and when they can quit their jobs and retire. A popular and easy way to calculate your retirement number is using the 4% Rule.
The 4% Rule estimates that a person(s) could withdraw 4% of their retirement nest egg and never run out of money. Using this calculation, a couple would need an investment portfolio of $323,211 to live a moderate lifestyle in Baku, Azerbaijan.
Annual expenses of $12,928 ÷ 4% = $323,211 portfolio needed.
Of course, everyone’s financial situation is different, and the above calculation could change based on any other sources of passive income and social security income.
Overall, the cost of living in Baku, Azerbaijan is affordable coming in at $1,077 for a couple living a moderate lifestyle. Those seeking to retire could do so comfortably with a retirement portfolio of $323,211.