Ultimate Guide for the Cost of Living in Iloilo
Are you considering a move to Iloilo? Let’s explore the cost of living in this vibrant city.
From housing expenses to transportation costs, grocery prices to healthcare expenses, this article will break down all the important factors you need to know.
Whether you’re planning to eat out or budgeting for miscellaneous expenses, we’ve got you covered.
Discover the ins and outs of living in Iloilo and make informed decisions about your next adventure.
Housing Expenses in Iloilo
When living in Iloilo, you can expect housing expenses to be a significant part of your budget. Rent prices in Iloilo can vary depending on the type of accommodation you choose. If you opt for a small apartment or a studio, you can expect to pay around ₱10,000 to ₱15,000 per month. For a larger apartment or a house, the prices can range from ₱15,000 to ₱30,000 per month. Keep in mind that these prices may fluctuate depending on the location and amenities offered.
Additionally, if you decide to purchase a property in Iloilo, the costs may be higher. The average price per square meter for a house and lot in a decent neighborhood is around ₱40,000 to ₱60,000. This means that buying a standard-sized house and lot can cost you several million pesos.
It’s important to consider other housing expenses as well, such as utilities and maintenance fees. On average, monthly utility bills for a small apartment can range from ₱2,500 to ₱4,000. These bills include electricity, water, and internet services. Maintenance fees for condominiums can vary, but they usually range from ₱2,000 to ₱5,000 per month.
Transportation Costs in Iloilo
Getting around the city can be quite affordable, with various options available to suit your budget and preferences.
The most common mode of transportation in Iloilo is the jeepney, which is a shared public utility vehicle that follows designated routes. Jeepneys are known for their vibrant decorations and can easily be flagged down along the main roads. The fare for a jeepney ride typically ranges from 8 to 10 pesos, depending on the distance traveled.
Another convenient option is the tricycle, a motorized three-wheeled vehicle that can take you to specific destinations within the city. Tricycle fares are usually negotiable, but you can expect to pay around 20 to 30 pesos for short distances.
For longer trips or if you prefer a more comfortable ride, taxis and ride-hailing services like Grab are available. Taxi fares start at 40 pesos and increase based on distance and traffic conditions. Grab fares, on the other hand, are calculated based on distance and demand.
Grocery and Food Prices
To accurately assess the cost of living in Iloilo, it’s important to consider the prices of groceries and food. When it comes to grocery shopping in Iloilo, you’ll find that prices can vary depending on where you choose to shop. Supermarkets like SM, Robinsons, and Gaisano offer a wide range of products at competitive prices. You can find both local and imported goods, allowing you to choose according to your preferences and budget.
In general, the cost of groceries in Iloilo is relatively affordable. Basic food items such as rice, vegetables, and fruits are reasonably priced. You can easily find fresh produce in the local markets, where prices are often lower than in supermarkets. Additionally, street markets or ‘talipapas’ are great places to buy meat, seafood, and other ingredients at lower prices.
Eating out in Iloilo can also be budget-friendly. Local eateries or ‘carinderias’ offer inexpensive yet delicious meals. You can enjoy a plate of steaming hot ‘batchoy’ or ‘lumpia’ for a few pesos. If you prefer more upscale dining options, there are also numerous restaurants to choose from, serving a variety of cuisines at different price points.
Healthcare and Medical Expenses in Iloilo
To accurately assess the cost of living in Iloilo and continue the discussion on expenses, let’s now delve into healthcare and medical costs. When it comes to your well-being, it’s essential to understand the financial implications of healthcare in Iloilo.
Here are some key points to consider:
- Medical Consultations: The cost of a visit to a general practitioner in Iloilo can range from ₱300 to ₱800. Specialist consultations may cost more, depending on the type of specialist and the complexity of the case.
- Medications: Prescription drugs in Iloilo can vary in price, with common medications costing around ₱100 to ₱500 per prescription. It’s advisable to inquire about generic alternatives, as they tend to be more affordable.
- Hospitalization: In the event of hospitalization, the costs can be significant. A private room in a reputable hospital can cost anywhere from ₱2,000 to ₱6,000 per day, excluding medical fees and procedures.
- Health Insurance: Having health insurance is crucial to help cover medical expenses. The cost of health insurance premiums in Iloilo can range from ₱1,500 to ₱5,000 per month, depending on the coverage and age.
Education and School Fees in Iloilo
Continuing the discussion on expenses, let’s now explore education and school fees in Iloilo.
If you have children or are planning to pursue higher education in Iloilo, it’s essential to consider the costs involved.
In terms of primary and secondary education, Iloilo offers a range of options, including public and private schools. Public schools are generally more affordable, with minimal or no tuition fees. However, private schools may provide better facilities and a higher quality of education, but they come with higher tuition fees.
On average, private school fees can range from ₱20,000 to ₱50,000 per year, depending on the school and grade level.
When it comes to higher education, Iloilo is home to several reputable colleges and universities. The tuition fees for these institutions vary depending on the course and the university, but on average, expect to pay around ₱30,000 to ₱70,000 per semester.
It’s worth noting that some universities also offer scholarships and financial aid programs, which can help alleviate the financial burden.
Utilities and Bills
When managing your expenses in Iloilo, you’ll need to consider the cost of utilities and bills. Here are some things to keep in mind:
- Electricity: The cost of electricity in Iloilo can vary depending on your usage and the type of residence you have. On average, expect to pay around PHP 4,000 to PHP 6,000 per month for a typical household.
- Water: The price of water in Iloilo is relatively affordable. A monthly water bill for a family of four can range from PHP 200 to PHP 400. This cost may increase if you have a larger household or if you use water-intensive appliances like washing machines.
- Internet and Cable TV: Internet and cable TV services are widely available in Iloilo. The cost of a basic internet plan starts at around PHP 1,000 per month, while a cable TV subscription can range from PHP 500 to PHP 1,000 per month, depending on the package you choose.
- Mobile Phone: Mobile phone plans in Iloilo are competitively priced. Expect to pay around PHP 500 to PHP 1,000 per month for a postpaid plan with data and call/text allowances. Prepaid options are also available if you prefer more control over your expenses.
Managing your utilities and bills is an essential part of budgeting in Iloilo. By being aware of these costs, you can better plan and allocate your resources accordingly.
Entertainment and Leisure Activities
If you’re looking for entertainment and leisure activities in Iloilo, explore the vibrant local scene and discover a variety of options to suit your interests and preferences. From cultural events to outdoor adventures, Iloilo offers a range of activities that will keep you entertained.
For those who appreciate the arts, Iloilo has a thriving local arts scene. You can visit art galleries and museums showcasing the works of talented local artists. You can also catch live performances, such as theater plays and musical concerts, at various venues across the city.
If you enjoy the outdoors, Iloilo has beautiful parks and gardens where you can relax and unwind. You can take a leisurely stroll along the Iloilo River Esplanade, a scenic waterfront promenade, or visit the sprawling Iloilo Business Park, which offers open spaces for picnics and recreational activities.
Sports enthusiasts will also find plenty of options in Iloilo. The city has sports complexes and gyms where you can engage in various activities like basketball, volleyball, and swimming. You can also join local sports clubs and organizations to participate in tournaments and events.
Additionally, Iloilo hosts a variety of festivals throughout the year, including the Dinagyang Festival, which showcases colorful parades, street dancing, and cultural performances. These festivals provide a unique opportunity to experience the rich culture and traditions of Iloilo.
No matter what your interests are, Iloilo offers a diverse range of entertainment and leisure activities to keep you engaged and entertained. Whether you want to immerse yourself in art and culture or indulge in outdoor adventures, there’s something for everyone in this vibrant city.
Clothing and Personal Care Expenses
As you explore the cost of living in Iloilo, let’s now delve into the expenses related to clothing and personal care. When it comes to maintaining your wardrobe and taking care of yourself, here are some key expenses to consider:
– Clothing: Whether you prefer shopping at local boutiques or international brands, Iloilo offers a wide range of options for clothing. From trendy fashion pieces to everyday essentials, you can find clothing that suits your style and budget.
– Shoes: Whether you need a new pair of sneakers for your daily jog or elegant heels for a special occasion, Iloilo has a variety of shoe stores to cater to your needs. You can choose from local brands or opt for popular international ones.
– Personal care products: From shampoo and conditioner to skincare and cosmetics, personal care products are essential for maintaining a healthy and well-groomed appearance. Iloilo has numerous supermarkets, drugstores, and beauty shops where you can find a wide array of personal care products.
– Salon and grooming services: Looking for a haircut, a manicure, or a relaxing massage? Iloilo has a range of salons and spas that offer professional services to help you look and feel your best.
While the cost of clothing and personal care in Iloilo can vary depending on your preferences and choices, there are plenty of options available to suit different budgets and styles
Taxes and Government Fees
You commonly pay taxes and government fees when living in Iloilo. These expenses are an important aspect of the cost of living in the city.
The Philippine government imposes various taxes and fees to fund public services and infrastructure development. One of the most common taxes you’ll encounter is the income tax. This tax is deducted from your monthly salary or wages, and the percentage you pay depends on your income bracket.
Moreover, when you purchase goods and services, you’ll also need to pay the value-added tax (VAT), which is currently set at 12%.
In addition to these taxes, there are other government fees that you may need to pay, such as property taxes, vehicle registration fees, and business permits. These fees vary depending on the value of the property or the type of business you have.
It’s important to budget for these taxes and fees when planning your expenses in Iloilo, as they can significantly affect your overall cost of living.
Insurance Costs
When living in Iloilo, you’ll need to consider the cost of insurance. Insurance is an important aspect of financial planning and can provide protection and peace of mind in case of unexpected events. Here are some key insurance costs to consider:
– Health Insurance: It’s essential to have health insurance to cover medical expenses. In Iloilo, the cost of health insurance varies depending on factors such as age, coverage, and pre-existing conditions.
– Car Insurance: If you own a vehicle in Iloilo, having car insurance is mandatory. The cost of car insurance depends on factors such as the type of vehicle, driver’s age, and driving history.
– Home Insurance: Protecting your home from potential risks is crucial. Home insurance covers damages to your property caused by fire, natural disasters, theft, and other unforeseen events. The cost of home insurance in Iloilo depends on factors such as the value of the property and the coverage you choose.
– Life Insurance: Life insurance provides financial protection to your loved ones in the event of your untimely demise. The cost of life insurance in Iloilo depends on factors such as age, health condition, and the coverage amount you require.
Considering these insurance costs will help you make informed decisions and ensure that you have adequate coverage for your needs. Remember to compare different insurance providers and policies to find the best options for you.
Cost of Eating Out in Iloilo
When it comes to eating out in Iloilo, you’ll find that the cost can vary depending on where you choose to dine. On average, a meal at a mid-range restaurant in the city can cost you around 150 to 300 pesos per person. This includes a main dish, a drink, and sometimes a dessert.
If you’re looking for a more upscale dining experience, be prepared to spend around 500 to 1000 pesos per person.
However, if you prefer to eat at local eateries or street food stalls, you can enjoy a delicious meal for as low as 50 to 100 pesos.
It’s important to note that these prices are estimates and can change depending on the restaurant or establishment. Additionally, keep in mind that some restaurants may charge service fees or add taxes to your bill.
Planning on moving to Iloilo?
Living in Iloilo can be quite affordable compared to other cities in the Philippines. While housing expenses and transportation costs may vary, grocery and food prices are generally reasonable. Healthcare and education expenses are also relatively affordable.
Taxes and government fees are manageable, and insurance costs aren’t too high. Eating out can be a bit more expensive, but overall, the cost of living in Iloilo is relatively affordable, making it a good choice for individuals looking for a budget-friendly lifestyle.
