5 Important Facts about the Cost of Living in Japan You Should Know
For a long time, Japan has thrived by hosting tea ceremonies, refining Buddhist and Shinto-inspired gardens and the art of calligraphy, which is an unorthodox to the Western culture.
The land of the rising sun is also famous for its serene beauty and being a house to 60 active volcanoes including Mount Fuji, the country’s highest peak with 12,388 feet in elevation. Moreover, it has proven to be very successful as a country, achieving favorable statistics like a 100 percent literacy rate for men and women, a life expectancy rate of 86.6 years for women. Also, it is one of the lowest unemployment rates across the globe at 2.8 percent.
All that being said, Japan has likewise proven to be one of the most expensive countries to live in, ranking at 17th place according to the Independent.
Well, here are five important facts of living in Japan you should know:
• Renting a single person apartment in the heart of Japan cities like Tokyo is approximately at ¥81,890 per month. As for a three-bedroom apartment, the price of rent increases at ¥90,594 per month. And on top of that, the cost of living in Japan is further heightened by ¥20,120 for basic utilities in a 915-square-foot apartment like water, electricity, heating and garbage as well.
• The cost of living in Japan varies compared to the United States (US). For an instance, consumer prices in Japan are 14.36 percent higher compared to the US. Also, the prices of groceries in Japan are 17.77 percent higher than in the United States. However, the US has a staggering 50.64 percent higher amount of rent than in Japan. In fact, the Independent claimed that the US slightly edges out Japan when it comes to living expenses. While the cost of living in Japan is ranked 17th across the globe, the US is at 5th place.
• The cost of insurances in Japan sums to roughly ¥422,604 per year. Health insurance sums up to nearly ¥155,532 per year, while pension insurance adds another ¥267,072 per year. The prices of insurance are significantly affordable considering the annual base salary of Japan is ¥3,000,000, but with an annual income tax of ¥63,240, the average net salary for people in Japan sums up to ¥2,514,156.
• The amount of rent in Tokyo is remarkably way expensive than the usual average cost of living in Japan. Tokyo has an existing population of 13.491 million people, approximately 11 percent of Japan’s total population. The cost of accommodation in more expensive areas such as Tokyo comes to nearly ¥256,432 per month, and utilities for a month costs nearly ¥17,835. Other luxurious stuffs to furnish one’s housing in Tokyo are likewise expensive such as a flat-screen television, microwave and even laundry detergent.
• Unfortunately, due to the high cost of living in Japan, the country also maintains one of the highest suicide rates in the world at 41.7 per 100,000 people amongst men. Main reasons for the increased suicide rate in the country are attributed to the country’s adverse economic conditions and unemployment rates.
In general, the cost of living in Japan is significantly high, yet it is not unbelievable to imagine settling down in one of the many cities in Japan as the country offers higher chances of success with its high success rates in education and strong labor force, thus offering a steady income in return.