Thinking of moving? Here are the areas you can afford to live in Hong Kong!
We’re all familiar with the sky high rent prices in Hong Kong, but have you ever considered which areas are actually affordable to live in? You may be tempted to spend most of your paycheck on rent just to live on Hong Kong Island, but experts claim that we should only spend around 33.3% of our income on rent. Some of you may wonder whether this is feasible in the expensive city of Hong Kong – want to know where you can afford to rent an apartment using 33.3% of your income? Let Spacious give you the lowdown:
Salary range: $15-25K
Affordable areas: Lau Fau Shan, Lam Tei, Lok Ma Chau, Lam Tsuen Country Park, Fanling, Kwan Tei, Ping Che, Sha Tau Kok
Chances are you haven’t even heard of these areas in Hong Kong, but all you need to know is that they’re on the North side, close to the China border. You may live far away from Hong Kong Island, but at least you can get some peace and quiet in the countryside.
Salary range: $26-35K
Affordable areas: Lamma Island, Chai Wan, Heng Fa Chuen, Shau Kei Wan, Yau Tong, Lam Tin, Ngau Tau Kok, Kwun Tong North, Kowloon Bay, Tsz Wan Shan, Shek Kip Mei, Kwai Chung, Tai Mo Shan, Sha Tin, Yuen Long, Tin Shui Wai
You can afford to live on Lamma Island and certain parts of Hong Kong Island, but you still can’t afford the other outlying islands, such as Mui Wo and Cheung Chau. You probably won’t find many other expats in these Kowloon areas, but you can definitely experience the local lifestyle there!
Salary range: $36-45K
Affordable areas: Mui Wo, South Lantau, Tung Chung, Tsing Yi, Kwai Chung, Tseung Kwan O, Lam Tin, Tiu Keng Leng, Yau Tong, Lohas Park, Tai Wai, Ma On Shan, Tuen Mun
Tseung Kwan O may be an up and coming area, but some residents often complain about the pungent garbage smell coming from the landfill. Oh well, at least it’s still close-ish to Hong Kong Island!
Salary range: $46-55K
Affordable areas: Kennedy Town, Sheung Wan, North Point, Quarry Bay, Tai Koo Shing, Sai Wan Ho
Congratulations – you can afford certain parts of Hong Kong Island! For those who aren’t familiar with Kennedy Town, this area used to be more local and affordable, but after the new MTR station was built, this led to an influx of development projects and increased rental prices.
Salary range: $56-65K
Affordable areas: Fortress Hill, Tin Hau, Causeway Bay, Wan Chai, Sai Ying Pun
You can afford to live comfortably in the party area of Wan Chai – now you’re walking distance from those crazy Wednesday Ladies Nights!
Salary range: $66 – 75K
Affordable areas: Poho, Noho, Shek Tong Tsui, Sai Kung, Tai Po, Gold Coast
With 33.3% of your income, you can choose to live in Poho and Noho (areas close to central Soho), or choose to get away from the hustle and bustle of the city by living in the New Territories.
Salary range: $76 – 85K HKD
Affordable areas: Aberdeen, Central, Soho
The verdict is in – you need to earn over $85K to live comfortably in Central! But you still can’t afford to live in Discovery Bay or the Mid-Levels.
We know – the numbers are pretty depressing, but the data doesn’t lie! Do keep in mind that the average graduate salary is $13K and the median household income is around $22K, so if you earn more than this, consider yourself one of the lucky ones! If you’re looking for an apartment to rent, check out the listings available online at Spacious!