Cost of living in Frankfurt
Frankfurt, a major financial hub in Germany, is known for its impressive skyline and vibrant cultural scene. Understanding the cost of living in this bustling city is crucial for both residents and newcomers.
In this guide, we break down the various expenses associated with living in Frankfurt, from dining and groceries to housing and transportation, providing a comprehensive overview for 2024.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $18.97 on average, with a range between $12.64 and $26.34.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $84.29, with prices ranging from $57.95 to $126.44.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $11.33, with a range between $9.48 and $12.64.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3.69 to $6.32, imported beer $3.16 to $5.27, cappuccino $2.11 to $5.27, and Coke/Pepsi $2.11 to $4.21.
Grocery Prices
- Milk - Milk is priced between $1.04 and $2 per liter, averaging $1.22.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.26 and $3.16, with an average price of $2.04.
- Eggs (Dozen) - A dozen eggs range from $2.52 to $6.32, averaging $3.6.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.11 to $4.18 per kg, while oranges range from $1.46 to $3.16 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.79 and $2.46 per kg, and lettuce costs $1.05 to $2.1 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $3.16 and $4.21, with a monthly pass priced between $51.63 and $111.9.
- Fuel (Gasoline) - Gasoline is priced between $1.79 and $2.11 per liter.
- Taxi Fares - Taxi fares start at $4.21, with a cost of $2.53 to $5.27 per km and $31.61 to $40.04 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1053.66 to $1580.5, averaging $1338.45.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $737.56 to $1369.76, averaging $1000.99.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $1896.6 to $3687.82, averaging $2425.82.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1264.4 to $2107.33, averaging $1673.32.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $6058.57 to $10536.64, averaging $8082.92.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $3793.19 to $6005.89, averaging $4949.79.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $223.38 and $526.83, averaging $359.59.
- Internet - Internet services range from $31.61 to $52.68, with an average cost of $44.4.
Cost of Living Rankings
Frankfurt ranks 2nd on the Cost of Living rankings in Germany. The cost of living indices for Germany are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Germany, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
Restaurants
Restaurants
Markets
Markets
Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Frankfurt offers a diverse range of dining options, with prices varying significantly between casual and upscale restaurants.
Grocery prices in Frankfurt are relatively moderate, with essentials like milk and bread being affordable.
Transportation costs are reasonable, with public transport offering a cost-effective way to navigate the city.
Housing in Frankfurt can be expensive, especially in the city centre, but more affordable options are available outside the centre.
Utilities and internet costs are in line with other major European cities, providing reliable services at competitive prices.
Conclusion
Overall, Frankfurt presents a balanced cost of living, with certain areas like housing and dining being more expensive.
Prospective residents should consider their lifestyle preferences and budget accordingly, taking advantage of the city's efficient public transport and diverse housing options.