The average national household income of a country is a significant aspect for one family to understand before mapping out their long-term financial plan. Knowing the average income can help in planning your budget realistically, deciding an affordable home price within your range, and setting an achievable investment goal.
If you’re a Singapore resident, you may wonder how much exactly is the average household income in Singapore? Compiled from the data released by Singapore’s Department of Statistics, we will present you with the latest figure for Singapore’s average household income.
Average and median household income in Singapore
While the statistics for 2025 average household income in Singapore is not yet published, in 2024, Singapore’s average median household income (including Employer CPF contributions) was reported to be $11,297 per month or equivalent to US$ 8,368 per month. This record shows an increase by 1.4% in real terms (after accounting for inflation) from the previous figure of $10,869 in 2023.
The nominal for average mean household monthly income in Singapore was recorded to reach $14,542. Furthermore, the average household per household member rose by 0.8% from $3,500 in 2023 to $3,615 per month. Whereas looking from the past decade, the median monthly household per household member has increased by 51.9%.
Mean vs median value
Compared to the mean household income value, the median household income data usually provides a more accurate depiction of one population’s typical income distribution. This is different from the mean value which oftentimes can be misleading because it does not take into account the actual income inequality or household economic condition of a given society. According to Smartwealth.sg, the median data refers to the middle income nominal when all households are ranked from lowest to highest, dividing the population into two groups: half the households that earn more than the median and the other half that earn less.
Average monthly household in Singapore income by type of dwelling
Similar to most countries, the amount of monthly income a Singaporean household earns can be gauged based on the type of housing or dwelling a family lives in. In general, those who live in condominiums or private properties tend to make a bigger amount of household income.
Besides the type of housing, the number of working family members in a household also contributes significantly to the amount of one’s household income. The following table compares the latest data of the average household income in Singapore by type of dwelling:
| House type | Average household income per month |
| HDB 1-&2-Room Flats | $4,018 |
| HDB 3-Room Flats | $8,080 |
| HDB 4-Room Flats | $11,650 |
| HDB 5-Room 7 Executive Flats | $15,141 |
| Condominiums and Other Apartments | $23,333 |
| Landed Properties | $30,021 |
Trends in Singapore’s household income
Over the last five years from 2019 to 2024, the average household income in Singapore has been growing steadily. In real terms, the median monthly household income rose by 3.6% cumulatively. Along with the rise in median monthly household income, the value for median monthly household income per household member from 2019 to 2024 also increased by 6.8%.
The stable growth in Singapore’s average monthly household income is driven by several factors. Aside from factors such as the country’s consistent economic development and improvements in productivity, the rise in Singapore’s household income might mainly be fueled by the growing trend of married dual-income couples among Singaporean society over the past decade.
This is proven by a census report from Singapore’s Department of Statistics which shows that the proportion of non-employed married couples across all ages has fallen, whereas the number of working wives has gone up from 52.9% to 60%. As the number of households with two or more working family members grows, so does the country’s household income.
In essence, the average household income in Singapore serves as a baseline for Singaporeans to balance their daily spending with long-term financial goals to build wealth for the future. By knowing where you stand in the average income standard, you can make a better decision on how much funds to set aside for essential expenses, savings, investments, or other major purchases to sustain your day-to-day life in the city-state.
