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Among the capitals of the Baltic countries, the highest income comes from families living in Tallinn, who also have more money left over after paying mandatory expenses.
An analysis based on household models showed that a family consisting of two adults and two underage children living in a 70 square meter apartment costs a total of 1,063 euros for food, housing and public transport in Tallinn, or 37 per hundred. total household income.
The corresponding cost for a family living in Riga is € 950 per month, equivalent to 47%. of total family income, while the family living in Vilnius has to spend 954 euros, 43 percent. of total revenue.
“As for the capitals of the Baltic countries, the most expensive place to live is Tallinn, although the income per family living in Tallinn is higher than in the southern neighbors. Along with child benefits, the average net income for a family of four is 2,897 euros in Tallinn, 2,020 euros in Riga and 2,207 euros in Vilnius, ”said Mari-Liis Jaager, director of the Swedbank Financial Institute.
ML Jaager explained that the monthly income and expenses of families living in Riga and Vilnius are lower than those of families living in Tallinn. And because families living in Tallinn have higher incomes, they have more money left to pay for mandatory expenses, he added.
The food basket recommended by nutritionists for a family of four is the most expensive in Tallinn, costing € 536 per month and accounting for 18 percent. family income.
The food basket is the cheapest in Vilnius, where a family of four spends 442 euros, or 20 percent. Your income.
In Riga, a family spends 483 euros a month on a recommended food basket, or 24 percent. Your income.
“Compared to 2018, the price of a family’s food basket increased more in Tallinn, where it jumped 28 euros. In Riga, a family’s food basket fell by 22 euros, and in Vilnius the price of the basket of food has not changed for four years, “added ML Jaager.
In the capitals of the three Baltic countries, families who pay mortgage premiums spend less on housing costs than families who rent houses. For families repaying a home loan, housing costs, including loan repayments, utilities, water, heat and electricity, are higher in Tallinn, where a family of four spends € 527 a month on these costs. Housing costs in Riga amount to 367 euros and in Vilnius, 448 euros.
For families who live in rented homes, these costs are significantly higher than for families who have purchased a home with a loan. A family living in a rented apartment in Tallinn spends € 705 per month to cover the mentioned housing expenses, compared to € 558 in Riga or € 703 in Vilnius.
“Compared to the 2018 results, the costs of water and heating for a family living in Tallinn have decreased, but the increase in real estate prices has led to higher rent and mortgage costs,” said ML Jaager.
In Tallinn, public transport is free for those who are registered as residents of the city. In Riga, a family of four spends 100 euros a month on public transport, and in Vilnius, 64 euros.
Swedbank Finance Institute was established in 2010 to provide independent information and practical advice.
The Institute of Finance aims to help people make financial decisions, provide information on financial management, and promote financial education and knowledge in Estonia.
The survey data in the three Baltic capitals was collected in March and April this year.
Income data based on 2020 information was used.
The recommended food basket is based on the normative method of the Estonian Society for Nutrition Sciences and the Swedish National Food Agency.
It is not allowed to publish, quote or reproduce the information of the BNS news agency in the media and on websites without the written consent of the UAB “BNS”.
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