Asuncion is a large city located in Paraguay with a metropolitan area population of 1,482,200. A couple could live a moderate lifestyle in Asuncion on a budget of $1,098 per month, or $13,179 per year.
Cost of Living in Asuncion, Paraguay
As noted above, the cost of living in Asuncion, Paraguay is $1,098 per month for a couple living a moderate lifestyle. This budget consists of $510 for housing related costs, $266 for food, and $323 for other costs, all of which will be broken down below.
- A one-bedroom apartment in the city center of Asuncion is estimated to cost $399
- Basic utilities including electricity, water, and gas will run about $75
- High-speed internet averages $36
- Typical grocery costs of $173 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 $42
- Frequent coffees in a neighborhood café are estimated to be about $51
- Meals out are estimated to be $155 per month, including 4 meals in mid-range restaurants and 8 in inexpensive restaurants
- Transportation costs of $68 for public transport passes and occasional taxis
- Fitness center memberships of $65
- Cinema tickets of $35 include several outings for international releases
Note that Asuncion, Paraguay is a somewhat walkable city with a Walk Score of 68/100, which means you may need a car if you are living in the city center and you will probably need to use public transportation frequently.
Amount of Money Needed to Retire in Asuncion, Paraguay
Many people searching the internet for the cost of living in Asuncion, Paraguay 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 $329,481 to live a moderate lifestyle in Asuncion, Paraguay.
Annual expenses of $13,179 ÷ 4% = $329,481 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 Asuncion, Paraguay is affordable coming in at $1,098 for a couple living a moderate lifestyle. Those seeking to retire could do so comfortably with a retirement portfolio of $329,481.