The Cost of Living in Lebanon in 2024

Housing, Groceries, and Education are Increasingly Priced Out of Reach for Many

On July 23, the credit ratings agency Fitch Ratings announced that it would no longer provide an assessment of Lebanon due to the government's failure to provide adequate information. The move, which will further restrict the nation's ability to obtain foreign financing, is just the latest blow to Lebanon's financial outlook.

Lebanon, a country renowned for its rich culture, history and diversity, is currently navigating through one of the most difficult periods in its history. The ongoing war on the southern border, economic turmoil and political instability have significantly impacted daily life, especially in terms of living costs. This article delves into what it's like to live in Lebanon today, exploring the costs of housing, groceries, and education, and highlighting the resilience of its people.

Household Median Income

Finding precise and up-to-date figures for the median income in Lebanon is challenging due to the country's ongoing economic crisis and lack of consistent statistical reporting. For 2024, the World Bank forecasts Lebanon's household disposable income per capita to be approximately $5,460 USD per year.​ Other sources indicate that the GDP per capita in Lebanon was around $4,136 as of 2021. The country has faced high unemployment rates, which reached 25% in 2024​. These conditions make it difficult to provide a precise current median income figure, as the crisis has led to significant fluctuations in income and purchasing power​ but it could give an estimate of the median household income.

Severe Inflation and Currency Devaluation

Since 2019, the nation has been enduring an unprecedented economic crisis, marked by severe inflation and currency devaluation. Now, the political instability reflected in the ongoing war in south Lebanon and a presidential vacuum have strained the economy even more. Despite these challenges, the people of Lebanon continue to navigate through these trying times.

Housing Costs

Paying rent in Lebanon can be one of the most significant recurring expenses for families, and buying a house is out of reach for most Lebanese, with bank loans still unavailable. Rent for a one-bedroom apartment in the city center of Beirut averages around $937 per month, while the same apartment outside the city center costs about $492. For larger families, a three-bedroom apartment in the city center can set you back over $2,100 monthly. Utility costs, including electricity, water, and garbage collection, typically add a minimum of another $140 to your monthly expenses​.

Rising Grocery Prices

Grocery shopping in Lebanon has become increasingly expensive due to hyperinflation. A liter of milk costs around $1.70, and a dozen eggs are about $2.30. Utility bills add another $143 monthly, not including internet services which cost another $46 approximately.

Education Expenses

Education costs have risen dramatically, with private school fees increasing by up to 50% in recent years. Public schools, while free, are beset by chronic underfunding and overcrowding, prompting many families to opt for private education despite the costs.

Political and Security Instability

Lebanon's economic woes result from a mix of political instability, currency devaluation, economic mismanagement, and external pressures, including the Syrian conflict and war with Israel. These factors have drained resources and crippled the banking sector.

Additionally, the war with Israel has continued to impact Lebanon's economy and security situation. Intermittent skirmishes and political tensions contribute to an unstable environment, affecting everything from tourism to foreign investment. The constant threat of conflict has led to increased defense spending, diverting funds from critical sectors such as education and healthcare​.

Anera's Efforts to Alleviate the Crisis

In response to Lebanon's many-sided crisis and the ongoing challenges posed by geopolitical instability, Anera is providing critical support to affected communities. Anera's programs focus on delivering emergency relief, including food assistance, medical supplies, and education support, to alleviate the suffering of vulnerable populations. Anera also implements vocational training initiatives, helping individuals acquire essential skills that lead to employment opportunities and sustainable livelihoods. Health and hygiene programs are vital components of Anera's response, ensuring public health amid challenging circumstances. Through these efforts, Anera is committed to helping build resilience and offer hope to the people of Lebanon during these unprecedented times.

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