Quick Answer: What Is Middle Class Income In South Africa?

What income is considered upper class in South Africa?

If you have a salary of R7313 or more, then you are in the top 10 percent of South Africa.

If you earn more than R15 000 per month, then you are in the top 3 percent of South Africans.

And if you earn R48 753 or more, then you fall into the 1 percent of “highest earners” in the country..

What is the average income in South Africa?

The average salary for South Africa’s workforce as at August 2018 is R20,860 a month, up from R20,163 in July 2018, and R19,865 in August 2017. This is approximately R250,320 a year.

What is a livable salary in South Africa?

Living Wage Individual in South Africa averaged 6252.50 ZAR/Month from 2015 until 2018, reaching an all time high of 6570 ZAR/Month in 2018 and a record low of 6140 ZAR/Month in 2017. South Africa Living Wage Individual – values, historical data and charts – was last updated on August of 2020.

How much money do you need to live comfortably in South Africa?

A 2018 report published by Purdue and University of Virginia researchers, found that people are satisfied at $95,000 (R1,375,894) – but also that emotional well-being was satiated at between $60,000 (R869,000) and $75,000 (R1,086,232).

What is considered a good salary in South Africa?

Anything between 40–70K would give most people all the luxury they need . So a good salary would depend on the lifestyle you wish to have . If you want to live in a fancy appartment at the perfect location and drive the newest Mercedes , 30K wont be considered good.

Where is the cheapest place to live in South Africa?

The cheapest cities to live and work in South AfricaRankCityAverage annual rent1JohannesburgR84 0002PretoriaR72 0003DurbanR61 2004Cape TownR108 0006 more rows•Dec 13, 2019

Is living in South Africa Expensive?

However, South Africa is still a much more affordable country to live in than most European, Asian and North American countries. … Having said that, the general cost of living in South African cities is considerably cheaper than the majority of major cities around the world.

What income is considered the middle class?

5 Pew defines the middle class as those earning between two-thirds and double the median household income. This Pew classification means that the category of middle-income is made up of people making somewhere between $40,500 and $122,000.

How much must I earn to buy a house in South Africa?

In order to purchase property on a single income, buyers need to be earning a minimum of around R15 000 per month after tax, he says, which will allow them to afford a home loan of around R500 000.

Is it expensive to live in South Africa?

Cost of living in South Africa is 49.37% lower than in United States (aggregate data for all cities, rent is not taken into account). Rent in South Africa is, on average, 64.51% lower than in United States.

What is the average cost of living in South Africa?

Summary of cost of living in South AfricaFoodMonthly rent for 85 m2 (900 sqft) furnished accommodation in normal areaR 9,197Utilities 1 month (heating, electricity, gas …) for 2 people in 85m2 flatR 1,205Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive areaR 10,74354 more rows