Average Income Levels#

Pinpointing exact, real-time income for everyone is tricky, but available data gives us a good idea. According to various reports and platforms tracking cost of living and salaries (like data often compiled by sources similar to Numbeo), the average monthly net salary in Hanoi is typically reported to be in the range of VND 12,000,000 to VND 16,000,000. This translates roughly to USD 500 to USD 670 per month (using recent exchange rates).

It’s important to remember this is an average. Many people earn less, especially those in entry-level jobs, manufacturing, or informal sectors. Many others, particularly in professional roles, earn considerably more. Median income (the middle point where half earn more and half earn less) is often lower than the average, suggesting income is skewed, with a smaller number of high earners pulling the average up.

Income vs. Cost of Living#

Compared to many Western cities, the cost of living in Hanoi is lower, but wages are also lower. The average salary allows for a relatively comfortable life if living modestly, especially for individuals or couples. However, supporting a family, affording good housing in desirable areas, or saving significantly can be challenging on just the average income.

For example, renting a one-bedroom apartment in the city center might cost VND 8,000,000 to VND 15,000,000 per month, which is a large chunk of the average salary. Living outside the center or in smaller accommodations is more affordable. Food costs are relatively low, especially when eating local street food or cooking at home from local markets. Imported goods and dining in high-end restaurants are expensive relative to local wages.

Inequality#

Like many rapidly developing large cities, Hanoi has significant income inequality. There is a noticeable gap between the highest earners and the lowest earners. This isn’t just a number; it’s visible in different parts of the city. While some areas have modern apartments, international schools, and luxury goods stores, other areas have much simpler housing and infrastructure. The divide exists between those benefiting most from economic growth and those working in lower-wage jobs or who have less access to opportunities.

Where Wealthy People Live and Their Lifestyle#

Wealthier residents in Hanoi often live in specific districts or developments known for higher prices, better amenities, and sometimes larger living spaces. Areas like Tay Ho (West Lake) are popular with both wealthy Vietnamese and expatriates, offering villas, modern apartments, and international amenities. Districts like Cau Giay or parts of Thanh Xuan also have newer, upscale apartment buildings and complexes. Ecopark or Vinhomes projects on the outskirts are also examples of large, higher-end residential areas.

The lifestyle of wealthy people includes living in larger homes or luxury apartments, owning expensive cars (which come with high taxes in Vietnam), dining at high-end restaurants, shopping for international brands, sending children to private or international schools, and traveling frequently. Their social and business networks are also typically different from those with lower incomes.

High-Income Employment Sectors#

Certain job sectors consistently offer higher incomes in Hanoi. These include:

• Technology: Especially in management roles, software development, and IT consulting.
• Finance and Banking: Positions in investment banking, corporate finance, and senior roles in commercial banks.
• Real Estate: Particularly development, investment, and high-end sales.
• Senior Management: Executives, directors, and high-level managers in large local and international companies.
• Certain Professional Services: Experienced lawyers, doctors, and consultants in specialized fields.

Jobs in these sectors often require high levels of education, specific skills, and experience, and they are the primary paths to achieving high wealth levels in the city.

In summary, while the average income in Hanoi might seem modest by international standards, it supports a wide range of lifestyles within the city. There is a significant portion of the population living on relatively low incomes, a growing middle class, and a wealthy elite whose living standards and earnings are comparable to those in affluent cities globally, showcasing the city’s economic diversity.