Cost of Living in Ecuador

Many expats are drawn to Ecuador because of its comparatively high level of development (in relation to other South American countries) and lower cost of living.

Price tags vary based on city or country living as well as whether you want a luxury, middle class, or locals lifestyle. But, overall, newcomers find that prices are much lower here than in their native countries.

The biggest cost is, without a doubt, accommodations and the options vary from high-end, ocean-front condos to quaint homes set in the local community. Prices for housing have stabilized over the past few years as the petroleum-dependent economy has cooled after years of steady growth. Condos on the shores of Salinas beaches can be bought for as much as $300,000 but most are in the $120,000 to $150,000 range.

In our home countries, our second most important expense is usually transportation but, in Ecuador, many don’t bother with buying and maintaining a vehicle. City buses cost 30 cents (or 15 cents for seniors) and there are plenty of well-maintained and regularly-scheduled buses. City to city buses are equally inexpensive with a two-hour ride (for example from Salinas to Guayaquil) costing approximately $5.00 (less for seniors with identification).

Most foods are cheaper here and the variety of fruits and vegetables available year round is astounding. You’ve never seen so many tropical fruits—many of which you will learn how to serve and eat. Most of the food you are accustomed to can be found in modern supermarkets and traditional markets. Those special foods you sometimes enjoy may be a little harder to find and usually cost more so they become special treats.

The cost of living in Salinas - Ecuador is 42% cheaper than in Chicago, Illinois according to website Expatistan. I’ve yet to meet anyone who found the country more expensive than in the USA or Canada which means your retirement dollars go a lot further.