Cost of living in Gimpo
Gimpo, located in South Korea, offers a unique blend of urban and rural living. Understanding the cost of living in Gimpo is crucial for anyone considering moving to or residing in this city.
This guide provides a detailed breakdown of various expenses, including dining, groceries, transportation, housing, and utilities, 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 $6.42 on average, with a range between $5 and $8.56.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $35.68, with prices ranging from $35.68 to $57.09.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $6.07, with a range between $5 and $7.14.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $1.21 to $3.57, imported beer $3.21 to $5.71, cappuccino $2.14 to $4.28, and Coke/Pepsi $0.71 to $1.43.
Grocery Prices
- Milk - Milk is priced between $1.43 and $3.55 per liter, averaging $1.94.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $0.86 and $5.71, with an average price of $2.59.
- Eggs (Dozen) - A dozen eggs range from $2 to $7.82, averaging $2.53.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.14 to $14.27 per kg, while oranges range from $2.14 to $9.99 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.78 and $5.71 per kg, and lettuce costs $1.07 to $2.5 per head.
Transportation
- Fuel (Gasoline) - Gasoline is priced between $1.15 and $1.21 per liter.
- Taxi Fares - Taxi fares start at $2.28, with a cost of $0.56 to $0.64 per km and $8.56 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Data not provided.
- 1-Bedroom Apartment Rent (Outside Centre) - Data not provided.
- 3-Bedroom Apartment Rent (City Centre) - Data not provided.
- 3-Bedroom Apartment Rent (Outside Centre) - Data not provided.
- Buying Price per Square Meter (City Centre) - Data not provided.
- Buying Price per Square Meter (Outside Centre) - Data not provided.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $107.05 and $214.1, averaging $146.3.
- Internet - Internet services range from $14.27 to $28.55, with an average cost of $19.98.
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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Salaries And Financing
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"Key Takeaways"
Gimpo offers affordable dining options, with inexpensive meals and fast food being quite budget-friendly.
Grocery prices vary significantly, with some items like bread and eggs being relatively cheap, while others like cheese and apples can be more expensive.
Transportation costs are moderate, with gasoline prices being stable and taxi fares offering a reasonable alternative for short distances.
Utilities are reasonably priced, making them a manageable part of monthly expenses.
Conclusion
Overall, Gimpo presents a cost of living that is manageable for many, with affordable dining and transportation options.
While some grocery items can be pricey, the overall expenses are balanced by reasonable utility costs.
Potential residents should consider their personal lifestyle and budget to determine how well they can adapt to the cost of living in Gimpo.