Cost of living in Monte Carlo
Monte Carlo, a district in Monaco, is renowned for its luxury and opulence. Understanding the cost of living here is crucial for anyone considering a move or visit.
This guide provides a detailed breakdown of expenses, from dining and groceries to housing and transportation, offering a comprehensive view of what to expect financially in Monte Carlo.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $50.31 on average, with a range between $26.16 and $52.32.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $110.28, with prices ranging from $104.65 to $115.91.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10.06, with a range between $9.66 and $10.46.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3.14 to $11.59, imported beer $10.63 to $12.56, cappuccino $2.62 to $5.23, and Coke/Pepsi $3.14 to $8.69.
Grocery Prices
- Milk - Milk is priced between $2.09 and $3.14 per liter, averaging $2.62.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $3.14 and $6.28, with an average price of $4.71.
- Eggs (Dozen) - A dozen eggs range from $3.77 to $5.02, averaging $4.4.
- Fruits (e.g., Apples, Oranges) - Apples cost $5.23 to $6.28 per kg, while oranges average $4.47 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced at $5.23 per kg, and lettuce costs between $3.14 and $6.28 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $1.57 and $2.09, with a monthly pass priced between $17.79 and $52.32.
- Fuel (Gasoline) - Gasoline is priced between $2.09 and $2.51 per liter.
- Taxi Fares - Taxi fares start at $5.23, with a cost of $2.09 per km and $104.65 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1883.64 to $9941.45, averaging $4813.75.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1465.06 to $2616.17, averaging $2040.61.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $3976.58 to $10464.68, averaging $7220.63.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $3348.7 to $10464.68, averaging $6906.69.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $23022.31 to $99414.5, averaging $61218.4.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $18586.33 to $78485.13, averaging $48535.73.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $195.69 and $784.85, averaging $446.58.
- Internet - Internet services range from $75.35 to $104.65, with an average cost of $90.
Cost of Living Data
The following pricing data has been gathered from 20 user contributions, as of the most recent update in October, 2024.
Restaurants
Restaurants
Avg
Range
Meal, Inexpensive Restaurant
$50.31
Meal for 2 People, Mid-range Restaurant, Three-course
$110.28
McMeal at McDonalds (or Equivalent Combo Meal)
$10.06
Domestic Beer (0.5 liter draught)
$9.42
Imported Beer (0.33 liter bottle)
$11.59
Coke/Pepsi (0.33 liter bottle)
$6.39
Water (0.33 liter bottle)
$7.46
Cappuccino (regular)
$3.90
Markets
Markets
Avg
Range
Milk (regular), (1 liter)
$2.62
Loaf of Fresh White Bread (500g)
$4.71
Eggs (regular) (12)
$4.40
Local Cheese (1kg)
$26.16
Water (1.5 liter bottle)
$5.76
Bottle of Wine (Mid-Range)
$23.55
Domestic Beer (0.5 liter bottle)
$1.86
Imported Beer (0.33 liter bottle)
$3.66
Cigarettes 20 Pack (Marlboro)
$10.46
Chicken Fillets (1kg)
$17.41
Apples (1kg)
$5.76
Oranges (1kg)
$4.47
Potato (1kg)
$5.23
Lettuce (1 head)
$4.71
Rice (white), (1kg)
$4.19
Tomato (1kg)
$7.85
Banana (1kg)
$6.80
Onion (1kg)
$5.23
Beef Round (1kg) (or Equivalent Back Leg Red Meat)
$23.55
Transportation
Transportation
Avg
Range
One-way Ticket (Local Transport)
$1.83
Monthly Pass (Regular Price)
$35.06
Gasoline (1 liter)
$2.27
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)
$50,816.51
Taxi Start (Normal Tariff)
$5.23
Taxi 1km (Normal Tariff)
$2.09
Taxi 1hour Waiting (Normal Tariff)
$104.65
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)
$40,358.10
Rent Per Month
Rent Per Month
Avg
Range
Apartment (1 bedroom) in City Centre
$4,813.75
Apartment (1 bedroom) Outside of Centre
$2,040.61
Apartment (3 bedrooms) in City Centre
$7,220.63
Apartment (3 bedrooms) Outside of Centre
$6,906.69
Utilities (Monthly)
Utilities (Monthly)
Avg
Range
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment
$446.58
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)
$90.00
Mobile Phone Monthly Plan with Calls and 10GB+ Data
$55.46
Sports And Leisure
Sports And Leisure
Avg
Range
Fitness Club, Monthly Fee for 1 Adult
$497.07
Tennis Court Rent (1 Hour on Weekend)
$52.32
Cinema, International Release, 1 Seat
$16.74
Clothing And Shoes
Clothing And Shoes
Avg
Range
1 Pair of Jeans (Levis 501 Or Similar)
$209.29
1 Summer Dress in a Chain Store (Zara, H&M, ...)
$73.25
1 Pair of Nike Running Shoes (Mid-Range)
$183.13
1 Pair of Men Leather Business Shoes
$261.62
Buy Apartment Price
Buy Apartment Price
Avg
Range
Price per Square Meter to Buy Apartment in City Centre
$61,218.40
Price per Square Meter to Buy Apartment Outside of Centre
$48,535.73
Salaries And Financing
Salaries And Financing
Avg
Range
Average Monthly Net Salary (After Tax)
$8,040.06
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate
2%
Childcare
Childcare
Avg
Range
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child
$3,348.70
International Primary School, Yearly for 1 Child
$15,697.03
Monte Carlo Cost of Living
"Key Takeaways"
Monte Carlo is known for its high cost of living, particularly in housing and dining. Renting or buying property in the city centre is significantly more expensive than outside.
Dining out can be costly, especially in mid-range restaurants, but fast food remains relatively affordable.
Transportation costs are moderate, with affordable public transport options and higher taxi fares.
Grocery prices are generally high, reflecting the luxury market of Monte Carlo.
Conclusion
Monte Carlo offers a luxurious lifestyle with a correspondingly high cost of living. Prospective residents should be prepared for significant expenses, particularly in housing and dining.
While some costs, like public transportation, are manageable, others, such as real estate and utilities, can be quite steep. Careful budgeting and planning are essential for anyone considering a move to this glamorous city.