Cost of living in Budapest
Budapest, the capital city of Hungary, is known for its rich history, stunning architecture, and vibrant culture. As a major European city, understanding the cost of living in Budapest is crucial for both residents and potential newcomers.
This guide provides a detailed breakdown of the expenses you can expect in Budapest, covering essential categories such as dining, groceries, transportation, housing, and utilities.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $10.26 on average, with a range between $7.7 and $20.53.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $51.31, with prices ranging from $35.92 to $76.97.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $7.7, with a range between $6.41 and $8.98.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $1.28 to $3.85, imported beer $1.67 to $4.62, cappuccino $1.15 to $3.34, and Coke/Pepsi $1.03 to $2.11.
Grocery Prices
- Milk - Milk is priced between $0.72 and $1.54 per liter, averaging $1.05.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $0.9 and $2.05, with an average price of $1.45.
- Eggs (Dozen) - A dozen eggs range from $1.54 to $3.08, averaging $2.4.
- Fruits (e.g., Apples, Oranges) - Apples cost $0.9 to $2.05 per kg, while oranges range from $1.03 to $3.08 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.72 and $1.54 per kg, and lettuce costs $1.03 to $2.05 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $1.03 and $1.15, with a monthly pass priced between $22.96 and $25.66.
- Fuel (Gasoline) - Gasoline is priced between $1.54 and $1.72 per liter.
- Taxi Fares - Taxi fares start at $2.82, with a cost of $1.13 per km and $16.93 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $513.14 to $897.99, averaging $634.78.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $384.85 to $641.42, averaging $472.17.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $897.99 to $1667.69, averaging $1111.81.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $641.42 to $1154.56, averaging $800.07.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $3078.82 to $5131.36, averaging $3882.6.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $2180.83 to $3078.82, averaging $2545.16.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $89.8 and $218.08, averaging $132.7.
- Internet - Internet services range from $12.83 to $25.66, with an average cost of $17.58.
Cost of Living Rankings
Budapest ranks 1st on the Cost of Living rankings in Hungary. The cost of living indices for Hungary 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 Hungary, 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"
Budapest offers a relatively affordable cost of living compared to other major European cities. Dining out is reasonably priced, with a variety of options from casual to mid-range restaurants.
Grocery prices are moderate, making it feasible to maintain a balanced diet without overspending. Transportation is efficient and affordable, with public transport being a cost-effective option.
Housing costs vary significantly depending on the location, with city centre apartments being more expensive. Utilities and internet services are reasonably priced, contributing to an overall manageable monthly budget.
Conclusion
In conclusion, Budapest presents a balanced cost of living, making it an attractive option for both expatriates and locals. The city offers a blend of affordability and quality of life, with reasonable prices across dining, groceries, and transportation.
While housing in the city centre can be costly, options outside the centre provide more budget-friendly alternatives. Overall, Budapest is a city where one can enjoy a comfortable lifestyle without excessive financial strain.