Cost of Living in Caracas, Venezuela

Prices in Caracas

More about Caracas:
Restaurants [Edit] Avg. Range
Meal, Inexpensive Restaurant 8.00 $ 2.50-15.00
Meal for 2 People, Mid-range Restaurant, Three-course 45.00 $ 12.00-150.00
McMeal at McDonalds (or Equivalent Combo Meal) 21.00 $ 3.00-34.00
Domestic Beer (0.5 liter draught) 2.50 $ 1.00-3.80
Imported Beer (0.33 liter bottle) 8.00 $ 3.00-10.00
Cappuccino (regular) 2.72 $ 0.60-4.00
Coke/Pepsi (0.33 liter bottle) 1.60 $ 0.60-3.00
Water (0.33 liter bottle) 1.11 $ 0.60-1.74
Markets [Edit] Avg.
Milk (regular), (1 gallon) 6.49 $ 1.67-11.32
Loaf of Fresh White Bread (1 lb) 1.36 $ 0.91-1.81
Rice (white), (1 lb) 0.45 $ 0.45-0.45
Eggs (12) 8.27 $ 1.20-12.00
Local Cheese (1 lb) 13.91 $ 1.81-23.59
Chicken Breasts (Boneless, Skinless), (1 lb) 7.50 $ 1.27-12.60
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 15.59 $ 2.27-28.92
Apples (1 lb) 2.99 $ 1.45-4.54
Banana (1 lb) 1.95 $ 1.63-2.27
Oranges (1 lb) 1.58 $ 0.32-2.27
Tomato (1 lb) 2.61 $ 2.27-2.95
Potato (1 lb) 3.02 $ 2.27-3.76
Onion (1 lb) 3.40 $ 2.27-4.54
Lettuce (1 head) 2.88 $ 1.00-4.76
Water (1.5 liter bottle) 3.36 $ 2.00-5.07
Bottle of Wine (Mid-Range) 8.00 $ 5.00-79.99
Domestic Beer (0.5 liter bottle) 3.92 $ 0.40-5.80
Imported Beer (0.33 liter bottle) 5.40 $ 0.80-10.00
Pack of Cigarettes (Marlboro) 4.90 $ 3.00-6.80
Transportation [Edit] Avg.
One-way Ticket (Local Transport) 1.10 $ 0.10-1.50
Monthly Pass (Regular Price) 10.50 $ 0.40-65.73
Taxi Start (Normal Tariff) 1.00 $
Taxi 1 mile (Normal Tariff) 2.01 $ 1.61-2.41
Taxi 1hour Waiting (Normal Tariff) 8.00 $ 6.00-10.00
Gasoline (1 gallon) 0.03 $ 0.02-0.04
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 30,000.00 $ 25,000.00-35,000.00
Utilities (Monthly) [Edit] Avg.
Basic (Electricity, Heating, Water, Garbage) for 915 sq ft Apartment 51.58 $ 17.00-78.25
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.24 $ 0.01-0.40
Internet (10 Mbps, Unlimited Data, Cable/ADSL) 60.50 $ 6.79-125.20
Sports And Leisure [Edit] Avg.
Fitness Club, Monthly Fee for 1 Adult 161.83 $ 6.00-439.48
Tennis Court Rent (1 Hour on Weekend) 5.00 $
Cinema, International Release, 1 Seat 1.00 $
Clothing And Shoes [Edit] Avg.
1 Pair of Jeans (Levis 501 Or Similar) 98.00 $ 96.00-100.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 61.60 $ 30.00-100.00
1 Pair of Nike Running Shoes (Mid-Range) 180.00 $ 110.00-250.00
1 Pair of Men Leather Business Shoes 105.00 $ 60.00-180.00
Rent Per Month [Edit] Avg.
Apartment (1 bedroom) in City Centre 400.00 $
Apartment (1 bedroom) Outside of Centre 300.00 $
Apartment (3 bedrooms) in City Centre 700.00 $
Apartment (3 bedrooms) Outside of Centre 600.00 $
Buy Apartment Price [Edit] Avg.
Price per Square Feet to Buy Apartment in City Centre ?
Price per Square Feet to Buy Apartment Outside of Centre ?
Salaries And Financing [Edit] Avg.
Average Monthly Disposable Salary (After Tax) 40.00 $ 12.00-70.00
Mortgage Interest Rate in Percentages (%), Yearly 24.00 24.00-24.00

These data are based on 218 entries in the past 12 months from 35 different contributors.

Last update: October, 2015

Sources and References : Info
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40 Comments so far
#Antosha on Oct 28, 2015 :
Hello, are the rates at true ? Is it possible to change 1 dollar for 817 BfZ ?
#Juan on Jul 31, 2015 :
I just filled out your "cost for living" study from Caracas, Venezuela. I live there and I am 49 years old and I would like to explain the data that I just sent.

Venezuela lives under a very disastrous exchange rate control. We use, at least, 4 rates to exchange local currency into international ones.

The goverment has full control of this process but its system have been having serious crack since 2012. Venezuela imports as much as 70% of all its needs. Local production, of about the remaining 30%, it needs basic materials or equipments which need to be bought outside the country (its maintenance too).

If you are an importer of some basic foods and medicines, you could receive a Bolívares 6,30 per USD rate.

If you are an importer of some equipments or other raw material, you could receive a Bolívares 12 per USD rate.

If you are an importer of other marginal products (according to the goverment), you could receive a Bolívares 200 per USD.

When I said "you could receive" I want to say that there is not a transparent way to process your request of Dollars. Consequently, our economy is passing thru a very important crisis because there is not enough dollars to import all that our people need. Besides, there is a lot of corruption into these process. In consecuence, in Venezuela we live in an acute supply crisis that makes people make long lines to buy imported products with the lowest exchange rates. If you do not want or can not do lines, you will buy from street resellers but at prices much higher.

The goverment thinks that the rest of the needs of the country does not exist. For example, a laptop, software, cars, smartphones, perfums, shoes or cloth and many other categories that they usually not receive any of these official exchange rates. If you want to import some of these products, you have to buy USD in the black market at the 675 Bolivares per USD rate (just one year ago it was Bolívares 70 per USD so we are suffering a brutal inflation too -estimated in 180% annual).

As you can see, we have a lot of variations between imported products at 6,30 rate and imported products at 675. It is a crazy situation.

Gasoline is almost free but an apartment or house for a middle class family is appraised using the black market rate (the same for vehicles, computers, smartphones and so on).

The minimum wage today is about Bolivares 7.500. it could be USD 1.190 or USD 625 or USD 37.5 or USD 11.11 per month, depends on which exchange rate you decide to use.

To average a balanced way, I used an exchange rate of Bs. 250 per USD in my entries. However, when you ask for the cost of appartments I used the actual black markets exchange rate or 675 Bolivares USD.

I did my best to explain a very complex and absurd economy in this country.
#Anonymous on Jul 23, 2015 :
Good morning, i’m from venezuela, sadly, we have a economic distortion, because we have 3 change types.

Officially Type 1 (but only for government people) 6.30 VEF = 1 $
Officially Type 2 (but only for government people) 12.00 VEF = 1 $
Officially Type 3 (sometimes offered to industries) 199.50 VEF = 1 $

The other people not shown on this list, go to the parallel market, offered a 620VEF = 1 $, that’s why it’s seems non sense.
#Mario on Jul 17, 2015 :
To this day, the black market exchange rate is +600 VEF per dollar, but our minimum wage is still the same (+7000 VEF) [yes, 15US$ per month] and the government claims this the "highest" minimum wage in Latin America (because they're still calculating it with the inexistant, official exchange rate at 12 $ per Bolívar).

It's a complete mess. Things like shoes (specifically, Converse Chuck Taylors) cost now more than 15000 VEF... 1250 US$ for a pair of shoes!!! The only cheap stuff you can find are the regulated products (milk, toilet paper), well, if you find them, cause they're so cheap the companies aren't making them because there's no profit.
#diego on Jul 08, 2015 :
i find these statistics really unrealistic as to what really is the cost of living in venezuela.The bolivar is today at 500bs per dollar (black market rate,the one almost everything is based on) and to put that in contrast, the minimum salary is around 14 dollars a month,yes, a month.The official exchange rates, which there are 3 (CENCOEX for companies-6.30bs, CENCOEX for travel-12bs and SIMADI-190bs). These 3 exchange rates are virtually non existent to the common people and most tourists rely on the black market for bolivares which makes them kind of rich given the high exchange rate, but really poor to the people that earn in bolivares living in venezuela
#CLARENCE PKS on May 11, 2015 :
Dear All, I will be travelling to Caracas in a week's time for a duration for 4 days. It is my first time travelling to Venezuela and the information provided was very useful in understanding the financial situation. I would like to seek advice on the accessibility to local currency from the black market? Or is USD a preferred currency in circulation. Thanks.
#Alguien de Venezuela on Apr 23, 2015 :
El salario minimo son 15$ AL MES. si, AL MES. el cambio de divisas legal no existe en venezuela, todo se basa en el mercado negro de dolares 1 dolar = 290bs .. sueldo minimo "4000bs" .. 1 iphone 6 = 210000bs.. los datos de esta pagina no son realistas.
#Admin on Apr 21, 2015 :
We use statistical models, but various exchange rates makes correct calculations impossible.
#alb3rto on Apr 20, 2015 :
I noticed that the data about Venezuela was recently updated. However the system makes its calculations using the avg of all data collected for each field. This approach is very inaccurate for countries like Venezuela (high inflation, unstable exchange rate, etc).

I think that for better results, the older data should not be considered.
Another option is to apply a statistical model to normalize the data and discard the extreme values, e.g. if the 90% of the data for an item are around 100$, a value of 2$ doesn't make sense.
#anyone on Apr 18, 2015 :
Today the black market $ was 276 BV per doolar. So, if you come to Vzla with $ income and sell them in the black market, you can have a lot of money. Yet, is it worth it in a country that you can be murdered just for going to a supermarket or pharmacy by some man that want your car or your cell phone. No way. Do not come to live here unless you want to live jailed in your own home.
#Ender on Mar 22, 2015 :
For the people who don't know Caracas is a expensive city. We have one of the highest inflation rate and there are four exchange rates... 6.30 , 12.00 , 190.50 and 255 (last one is today´s black market rate).
Most of the prices showed here are using 6.30VEF per each USD (Which is an official exchange rate as i mentioned before) and i would say anyone (alone) can live fine here with VEF 30000 or more (about USD 4761 or more at the same exchange rate)
#Jfarias on Jan 20, 2015 :
#Mohammed Nasan. 1500VEF is not enought to get you through the week let alone live to live. I make aproximately ten times your monthly salary, and I cannot afford to rent anywhere in this city. Curious thing is that if you were actually paid in dollars, then you would be much better off. The current black market exchange rate is nearing 200VEF for each US dollar. Even though there is a FOREX freeze on currency in this country. Inflation has sky rocketed at the same rate as the black market dollar. Therefore even though you are paid at an official exchange rato of 6.3VEF per dollar you are consuming goods at a rate of 200VEF per dollar.
#Mohammed Nasan on Jan 15, 2015 :
I'm a new student in Caracas, Venezuela salary 1500 VEF + 150 $ , is this sufficient for living ? Please reply :)
#Rafael Morante on Jan 02, 2015 :
Hi!, black market exchange rate is currently on 176,90 VEF per $...

It all seems to point towards even greater inflation and government, whether they want it to or not, will have to take strong measure... The current president pointed a couple days ago that economic reforms will be in place soon, but was very evasive in means of any detail of this new policies.
#Moderator on Dec 04, 2014 :
VEF currency is currently disabled due to black market exchange rates
#ryan on Nov 23, 2014 :
the black market exchange rate is rising drastically, however so is inflation. Since i was there a month ago it has risen 20% and currently at 1USD = 123 VEF (check this website to monitor it Last month some of the prices in Merida, Venezuela were as follows; 1 small beer at a bar = 15-25 VEF and a normal 12 oz beer = 20-30 VEF, 1 liter of rum at the liquor store 150-180 VEF and at a club 550 VEF. My favorites are the 750ml bottle of Ron Superior that costs $1.25 USD and a case of 36 small bottles of beer that cost $4.75.
#cadukeson on Aug 16, 2014 :
#ekaterini like 1.5 minimun salary working about 5 hours
#ekaterini on Aug 04, 2014 :
what is the salary for a primary school teacher who has 14years experience?
#Rafael Morante on Feb 03, 2014 :
Hi John, that's correct...

The government has introduced some policy changes to exchange control, things like, for example:

-Tourists have special points within ports of entry to Venezuela where they can exchange foreign currency for VEF (local currency) at an exchange rate of 11.36 VEF x 1 USD.
-Supposedly there will be law reforms that will permit a "more free" currency market for investors and enterprises.

In real life this doesn't really address the underlying issue and the black market is still going strong: today for example 1 USD goes for 81.46 VEF!!!

Any knowledgeable foreigner can get good value for a tight dollar budget..
#john on Jan 25, 2014 :
so rafael, if someone in caracas had a thousand dollars in cash then they would have ten times local buying power in bolivars? import dollars, covert and live very well?
#Rafael Morante on Jan 23, 2014 :
Last minute update:

Venezuelan government yesterday announced that the exchange rate will vary from 6.3 VEF per USD to 11.3 VEF per USD (with a floating price marked by auctions) for ALL but "basic" economic activity (the only economy sectors that will still enjoy the "preferred" rate at 6.3 VEF per USD are medical, Oil industry, Food among others that rely heavily on imports and are deem high priority).
#Rafael Morante on Jan 21, 2014 :
Btw, I didn't answer the question about pricing for rent:

The CHEAPEST apartment you can rent in Caracas, for example, goes for about 15,000 VEF monthly... That means 2380.95 USD (Monthly) by the government-rate and 208.33 USD by the black market value!!!...

Get the idea?!... The moral of the story is that hard currency (foreign currency, for that matter) governs local economy. If you come as an expat and exchange your cash greenbacks at black market rate, you'll find Venezuela to be a really "cheap" place to be... But make the same type of expenses with a credit card (to which you will be charged by the official exchange rate) and you'll weep because of how incredibly expensive everything is...

That's the reason why "exchange mafias" (with deep government connections) have emerged: if you have means to obtain foreign currency at the official rate, you just might come back to Venezuela and inject that capital into the black market (and will get rich by doing it).
#Rafael Morante on Jan 21, 2014 :
Hi Shay!, sorry I didn't catch your post earlier!. Perhaps an example could clarify what I'm talking about:

Venezuela's minimum wage is 3,270 VEF (monthly); the government currency exchange rate control sets the exchange rate at 6.3 VEF f/e USD, that means roughly 520 USD. Black market price currently floats around 72 VEF f/e USD; this means a minimum waged Venezuelan makes 45.41 USD a month..

The reason why black market currency inflates is quite simple: the official exchange rate is almost nonexistent... Private businesses don't have access to it to continue functioning; they have to go into the black market and since their op-cost raises, so does pricing in local currency for virtually any commodity you can think of (Keep in mind that Venezuelan Commercial Policy is a huge fail, private foreign investments have been withdrawn and local production is almost nonexistent as well: basic goods are all imported)

The result is a highly inflationary economy..

Differential (for the private sector) to get the low-cost hard currency comes down to jumping through a lot of hoops or having the right government connections, and even then the amounts awarded (if any) often don't cover the actual needs, so incursion into the black market is quite common: every commercial activity right now responds to the black market currency.

This also applies to "natural citizens" (meaning a non-corporate figure)... If you, as a citizen, want to: Travel abroad on vacations, to Study or to Receive medical treatment. There's a cumbersome amount of paperwork to do and a big list of requirements to regulate foreign currency designation and approvals.

For Vacations, for instance, you could only get 500USD max. in cash and 3000USD max. in Credit Cards (which also have to comply with specific requirements: gotta be 3 credit cards max. and all from the same bank, have to be older than 6 months, etc.)... The amounts awarded here could be less, it depends on where you are travelling to and the length of the trip. For almost any other case (medical treatment, studies) you are required to have a bank account outside Venezuela (in foreign currency, of course) as the amount typically approved in cash is very little.
#Shay on Dec 24, 2013 :
Rafael Morante based on what you have said everyone would have to exchange their money on the black market then pay for everything in U.S. currency. Does this mean the whole country operates in allies. If not and there is only a handful of people making exchanges on the black market I still do not understand the amount legally a person makes and how much they legally have to pay for rent. No matter how you slice and dice it the amounts do not make any sense to me.
#Rafael Morante on Dec 17, 2013 :
To all people that doesn't understand Venezuelan Economy Dynamics and are confused because the contradictory data: Venezuela has a Currency Exchange control since year 02-03'(roughly 12 to 13 years now) and there's strong government restriction to Dollars...

Common Venezuelans have to jump through an impossible series of hoops to obtain a very little amount of dollars for travel, imports or whatever economic activity. This has created a parallel market in which the dollar value ranges from 6 to 10 times its "official" government-sanctioned value... That's why you see absurd prices in many categories compared to actual income; parallel markets.
#shay on Dec 16, 2013 :
I have a question how can you make 160.00 a month and pay rent of 800-1500 a month. this does not make sense.
#Ricardo Alberto Duran on Oct 05, 2013 :
Average Monthly Disposable Salary (After Tax: 814.00$? Really? I live in Caracas, and that would be VEF Bs 5128,20 and that's absolutely WRONG!!! I'm using official exchange rate.

Actually, the salary is VEF Bs 2.702,72 which turns out to be USD 429 (before ANY tax). Plus, most of the private services, food and drinks, clothes and another expenses ar calculated day after day based upon a parallel currency (which has skyrocketed to 1 USD = 47,50 VEF today).
#boris ackerman on Aug 30, 2013 :
I Totally agree with Javier
#kevin on Aug 29, 2013 :
What is the price of Rum in bvf ?
We want to buy and export to the UK
#Javier01 on Aug 19, 2013 :
I think we should use the official exchange rate of 6.30 Bsf per US dollar in order to be consistent with the data we feed the database. That will yield a more complete idea on the real purchasing power and the cost of different goods
#Gordo on May 14, 2013 :
If you look at the classifieds, the small homes and apartments for sale are roughly equal to two cars! Also, the official rate of the Bolivar (Bvf) is
1 dollar = 6.3 Bvf

On the black market:
1 dollar = 26.33

#Cadukeson on Apr 15, 2013 :
i work programing to the government, and they pay 4100 bs = 160 $ per month
#Giancarlo on Mar 04, 2013 :
is there any way to clean up this data again since prices have changed and the current official exchange ratio has changed as well?
#axz on Jan 25, 2013 :
how much is to hire software programmer with 3-5 yrs of experience in venezuela.?
#David on Jan 23, 2013 :
Black market is USD 1 - Bs. 18.01 today. These prices are represented in the official rate Bs. 4.30 per USD, but actually we have to pay for everything except food and gas in international prices. Minimum monthly wage is Bs. 2047, equivalent to USD 114 in black market, but renting an apartment costs approximately USD 500
#Giancarlo on Jul 17, 2012 :
well actually the official exchange ratio is 4.3 VEF per USD since the special exchange ratio for neccessity goods was droped on 2012. Besides that in this kind of subject we shouldn't use the black market price since it would lead to a huge deformation of info represented in this page making it worthless for any real comparison, so even if in our economy there are goods with a price calculated with the exchange ration in the black market, we should calculate the price of these goods at the official exchange ratio otherwise the relationship between the salary's data and the good prices will be broken.
#laser889 on Apr 24, 2012 :
Black market: about 8.2~9.0
#Avery Ecklein on Feb 21, 2012 :
Exchange rate (VEF to 1 USD):

Neccesity goods: 2.65

Luxury goods: 4.30

Black market: about 7.50
#Mladen on Jan 12, 2012 :
the price of cars is going towards more realistic figure, thanks
#Giancarlo on Jan 11, 2012 :
the price of cars are completely wrong as you might see in the following link

and the currency ratio between USD and Bs is 4.3 Bs per USD

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