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Cost of Living in Lima

Is it better to rent or buy in Lima? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$47,704
$871/mo

Median in area: $871

$87,790

Median in area: $87,790

$17,558

If you Rent

$1,084 /mo
Base Rent$871
Est. Utilities$213
% of Income27.3%
Pre-tax Residual$2,891

If you Buy

$826 /mo
P&I (7.444%)$488
Taxes & Ins$125
Est. Utilities$213
% of Income20.8%
Pre-tax Residual$3,149

Cost of Living FAQs

Is it cheaper to rent or buy in Lima?›

Based on median housing data, buying is currently more affordable on a monthly basis in Lima. The estimated all-in monthly cost for renting is $1,084, while owning a median-priced home with a 20% down payment is roughly $826 per month (a difference of $258).

How much do utilities cost in Lima?›

The average monthly utility cost (electricity and natural gas) for a typical home in Lima is approximately $213. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Lima?›

To comfortably afford the median rent and utilities in Lima without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $43,360 per year.