The average Israeli household is “in the black,” according to data from the Central Bureau of Statistics (CBI). The average household brings in a pre-tax total of NIS 18,671 monthly from earnings, transfer payments, and other sources. After taxes, that number shrinks to NIS 15,427. Fortunately, the average outlay by families amounts to NIS 12,323.
The statistics released this week covered the fourteen largest cities in Israel. Of those, the most prosperous is Rechovot, where pre-tax household income was NIS 19,099. Income was slightly lower in Tel Aviv, but the outlay there – NIS 14,284 on average – was the highest in the country. Households seeking a bargain but who want to live close to the center of the country should consider Tel Aviv’s southern neighbor Bat Yam, where the average outlay was only NIS 9,632 – but income, at NIS 11,005 after taxes – was lower as well.
Almost 67 percent of Israelis live in a home that they own, while 26.7 percent rent. The best towns for home ownership are Rishon Letzion, Rechovot, Bnei Brak and Ashdod, where over 70 percent of residents own the homes they live in. Forty percent of those who own their homes pay a mortgage, with the average mortgage payment NIS 3,260 a month.