The average national household income in a rustic is a crucial aspect that one family must understand before making a long-term financial statement. Knowing your average income can allow you to budget realistically, settle on the affordability of a house in your range, and set an achievable investment goal.
If you might be a resident of Singapore, chances are you’ll be wondering how much it costs exactly average household income in Singapore? Based on data released by the Singapore Department of Statistics, we’ll present the most recent data on average household income in Singapore.
Average and median household income in Singapore
While statistics on the typical household income in Singapore in 2025 haven’t been released yet, in 2024 The average median household income in Singapore (including employer CPF contributions) was $11,297 monthly or equivalent $8,368 monthly. This record shows an actual increase of 1.4% (adjusted for inflation) from the previous amount of $10,869 in 2023.
The nominal average monthly household income in Singapore was $14,542. In addition, average household per household member increased by 0.8% from $3,500 in 2023 to $3,615 monthly. However, looking during the last decade, the median monthly household income per household member has increased by 51.9%.
Average vs median value
Compared to average household income, average household income data tends to more accurately reflect the standard income distribution of 1 population. It differs from the typical value, which may often be misleading since it doesn’t consider the actual income inequality or the economic condition of households in a given society. According to Smartwealth.sg, the information median refers to the typical nominal income when all households are ranked from lowest to highest, dividing the population into two groups: half of households that earn greater than the median and the opposite half that earn less.
Average monthly household income in Singapore by housing type
As in most countries, the monthly income of a Singaporean household will be estimated based on the style of apartment or premises wherein the family lives. Generally speaking, people living in apartment buildings or privately owned properties are likely to earn the next household income.
In addition to the style of apartment, the variety of working members of the family within the household also has a big impact on the quantity of household income. The table below compares the most recent data on average household income in Singapore by housing type:
| House type | Average monthly household income |
| HDB 1- and 2-room apartments | $4,018 |
| HDB 3-room flats | $8,080 |
| HDB 4-room flats | $11,650 |
| HDB 5 bedroom 7 executive flats | $15,141 |
| Condominiums and other apartments | $23,333 |
| Land real estate | $30,021 |
Household income trends in Singapore
Over the past five years, from 2019 to 2024, the typical household income in Singapore has increased steadily. In real terms, the median monthly household income increased cumulatively by 3.6%. As the median monthly household income increased, the worth of the median monthly household income per person within the household also increased by 6.8% in 2019–2024.
Several aspects contribute to the regular growth of average monthly household income in Singapore. Apart from aspects resembling the country’s continued economic development and improved productivity, the rise in household income in Singapore could also be mainly as a result of the increasing trend of dual-income marriages in Singapore society over the past decade.
This is evidenced by a census report from the Singapore Department of Statistics, which shows that the proportion of unemployed married couples across all age groups has fallen, while the variety of working wives has increased from 52.9% to 60%. As the variety of households with two or more working members of the family increases, household incomes within the country increase.
Essentially, the typical household income in Singapore serves as a benchmark for Singaporeans to balance their each day expenses with long-term financial goals, resembling constructing wealth for the long run. Knowing what level of average income you might be at, you’ll be able to make a greater decision on how much money to allocate for obligatory expenses, savings, investments or other major purchases to support yourself every day within the city-state.
