Despite the prevailing notion in Colombia that surviving on less than 1.6 million pesos is nearly impossible, Sogamoso emerges as the cheapest city in the country, offering a lifestyle with costs below this financial threshold.
Navigating an economical lifestyle in Colombia becomes increasingly challenging as inflation and rising prices demand higher incomes for a decent living. However, there are still hidden gems in the country where a surprising budget can sustain life. One such location is in the picturesque department of Boyaca. A recent study by Living Cost identifies Sogamoso as the cheapest city in Colombia, prompting the question: What makes this claim valid?
Sogamoso, the cheapest city in Colombia
Sogamoso might not top the list of preferred destinations for many, but it has much to offer both current residents and potential newcomers. Living Cost’s recent study positions Sogamoso uniquely in Colombia, asserting that it is the most affordable city for several reasons.
In a country where sustaining oneself on less than 1.6 million pesos monthly is deemed challenging, this study suggests that Sogamoso defies the norm.
Reportedly, affordable rentals are abundant in Sogamoso, with homes available for as low as 300,000 Colombian pesos per month. However, considerations about the size of the area corresponding to these values are essential. Another factor contributing to Sogamoso’s status as the cheapest city in Colombia is its local market.
Sogamoso offers products directly sourced from local farms, bypassing the extra costs typically incurred in urban centers for transporting these goods. Monthly food expenses are estimated to hover around 755,000 Colombian pesos.
The projected monthly living expenses in Sogamoso are around 130,000 Colombian pesos. While these figures are intriguing, their veracity warrants validation from those currently living in this unique city.
Analyzing living costs in Sogamoso
Living Cost’s analysis is rooted in essential expenses for an adult, including rent, utilities, food, and transportation. According to the consultancy, a person needs US$325 (approximately 1,484,018 pesos) to cover these basic monthly expenses in Sogamoso.
Comparatively, Cartagena stands out as the most expensive city in terms of individual living costs, making Sogamoso a pocket-friendly alternative. The study sheds light on various prices prevalent in Sogamoso, such as lunches starting from 10,000 pesos and taxi fares ranging from 6,000 to 20,000 pesos (the latter is only if you travel by taxi to one of the many neighboring towns).
Additionally, public transportation via buses comes at a flat rate of 2,600 pesos, applicable during daytime, and 2,700 pesos nighttime, Sundays, and holidays.
Fuel prices in Sogamoso range from 15,800 to 16,300 pesos per gallon. Utility costs for water and sewage vary depending on the stratum, with the lowest stratum incurring fixed charges of 5,074 pesos for water and 2,026.61 pesos for sewage.
Alfredo Diaz Gomez, the manager of the Central Regional de Abastos del Oriente Colombiano (Coomproriente), attributes Sogamoso’s economic appeal to its proximity to municipalities producing essential items. Products such as scallions from Aquitania, potatoes from Mongua and Tota, and other locally harvested vegetables contribute to Sogamoso’s affordability.
The Central de Abastos de Coomproriente also helps regulate prices by offering products in large quantities, for the most part cutting out middlemen.
In comparing prices published by the Sipsa (Sistema de Información de Precios y Abastecimiento del Sector Agropecuario) with those at Corabastos, a noticeable difference emerges, with Coomproriente presenting lower prices than the central market in neighboring Tibasosa.