Cost of living in Mumbai
Mumbai, the bustling financial capital of India, is known for its vibrant culture and diverse population. Understanding the cost of living in Mumbai is crucial for anyone planning to move to or currently residing in the city.
This guide provides a detailed breakdown of various expenses, including housing, dining, transportation, and more, to help you budget effectively in 2024.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $4.74 on average, with a range between $2.37 and $9.47.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $20.72, with prices ranging from $11.84 to $47.35.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $4.74, with a range between $3.55 and $5.92.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $1.42 to $4.74, imported beer $2.96 to $6.51, cappuccino $1.18 to $4.14, and Coke/Pepsi $0.3 to $0.71.
Grocery Prices
- Milk - Milk is priced between $0.57 and $1.07 per liter, averaging $0.8.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $0.36 and $0.83, with an average price of $0.54.
- Eggs (Dozen) - A dozen eggs range from $0.71 to $1.7, averaging $1.07.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.18 to $2.96 per kg, while oranges range from $0.47 to $2.96 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.24 and $0.71 per kg, and lettuce costs $0.24 to $1.07 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $0.12 and $0.47, with a monthly pass priced between $2.37 and $8.88.
- Fuel (Gasoline) - Gasoline is priced between $1.18 and $1.3 per liter.
- Taxi Fares - Taxi fares start at $0.3, with a cost of $0.24 to $0.41 per km and $0.83 to $2.37 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $414.35 to $947.09, averaging $652.3.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $236.77 to $591.93, averaging $372.58.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $1065.47 to $3551.57, averaging $1789.01.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $591.93 to $1479.82, averaging $906.51.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $5097.17 to $11838.57, averaging $7419.65.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $2367.71 to $5097.17, averaging $3569.52.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $29.6 and $94.71, averaging $50.3.
- Internet - Internet services range from $5.92 to $14.21, with an average cost of $9.12.
Cost of Living Rankings
Mumbai ranks 1st on the Cost of Living rankings in India. The cost of living indices for India 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 India, 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"
Mumbai offers a relatively affordable cost of living compared to many Western cities, with low prices for dining and transportation.
Housing costs can vary significantly depending on the location, with city centre apartments being more expensive.
Grocery prices are generally low, making it easier to manage daily expenses.
Conclusion
In conclusion, Mumbai presents a diverse range of living costs, with affordable options for dining and transportation.
While housing in the city centre can be pricey, there are more economical options available outside the centre.
Overall, Mumbai is a vibrant city with a cost of living that can accommodate various budgets, making it an attractive destination for both locals and expatriates.