Cost of living in Geoje
Geoje, a picturesque city in South Korea, offers a unique blend of natural beauty and modern living. Understanding the cost of living here is crucial for both residents and newcomers.
This guide provides a detailed breakdown of expenses in Geoje, including housing, transportation, groceries, and more, to help you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $6.44 on average, with a range between $5.58 and $9.3.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $23.6, with prices ranging from $23.6 to $53.63.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $5.01, with a range between $4.29 and $6.44.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $1.22 to $5.01, imported beer $4.29 to $7.15, cappuccino $2.86 to $4.65, and Coke/Pepsi $1.29 to $1.79.
Grocery Prices
- Milk - Milk is priced between $1.43 and $2.15 per liter, averaging $1.72.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $0.86 and $5.72, with an average price of $2.59.
- Eggs (Dozen) - A dozen eggs range from $2 to $3.26, averaging $2.15.
- Fruits (e.g., Apples, Oranges) - Apples cost $7.15 to $14.3 per kg, while oranges range from $2.15 to $7.15 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $4.29 and $5.72 per kg, and lettuce costs $1.07 to $2.15 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $1.11 and $1.43.
- Fuel (Gasoline) - Gasoline is priced between $1.15 and $1.28 per liter.
- Taxi Fares - Taxi fares start at $2.29, with a cost of $0 per km and $0 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre averages $214.54.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $214.54.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre averages $429.07.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $357.56.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $107.27 and $178.78, averaging $127.1.
- Internet - Internet services range from $21.45 to $28.6, with an average cost of $23.84.
Cost of Living Rankings
The cost of living indices for South Korea 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 South Korea, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Geoje offers a relatively affordable cost of living compared to other major cities in South Korea, with low rental prices being a significant advantage.
Dining out is quite affordable, making it easy to enjoy local cuisine without breaking the bank.
Transportation costs are low, but owning a car might be more expensive due to gasoline prices.
Conclusion
In conclusion, Geoje presents a cost-effective living environment, especially in terms of housing and dining.
While some expenses like gasoline and imported goods might be higher, the overall affordability makes it an attractive place for both locals and expatriates.