Cost of living in Seoul
Seoul, the vibrant capital of South Korea, is a bustling metropolis known for its blend of modern skyscrapers, high-tech subways, and pop culture. Understanding the cost of living in Seoul is crucial for anyone considering moving to or visiting this dynamic city.
This guide provides a detailed breakdown of the various expenses you can expect, from dining and groceries to housing and transportation, helping you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $7.87 on average, with a range between $5.72 and $10.73.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $42.91, with prices ranging from $27.17 to $85.81.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $6.08, with a range between $5.15 and $7.15.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $2.15 to $5.01, imported beer $2.86 to $7.15, cappuccino $2.15 to $4.86, and Coke/Pepsi $1.07 to $2.5.
Grocery Prices
- Milk - Milk is priced between $1.52 and $2.86 per liter, averaging $2.15.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.15 and $6.79, with an average price of $3.2.
- Eggs (Dozen) - A dozen eggs range from $1.72 to $6.01, averaging $3.18.
- Fruits (e.g., Apples, Oranges) - Apples cost $3.93 to $9.65 per kg, while oranges range from $2.5 to $10.51 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.92 and $5.56 per kg, and lettuce costs $1.07 to $3.22 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $1 and $1.57, with a monthly pass priced between $42.91 and $50.06.
- Fuel (Gasoline) - Gasoline is priced between $1.11 and $1.43 per liter.
- Taxi Fares - Taxi fares start at $2.86, with a cost of $0.54 to $1.07 per km and $8.58 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $572.1 to $1430.24, averaging $881.91.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $334.79 to $800, averaging $489.8.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $1430.24 to $4290.71, averaging $2620.64.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1001.17 to $2200, averaging $1391.08.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $10726.79 to $28604.77, averaging $19116.41.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $7151.19 to $15017.5, averaging $10967.87.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $92.97 and $277.78, averaging $170.77.
- Internet - Internet services range from $15.73 to $35.76, with an average cost of $22.92.
Cost of Living Rankings
Seoul ranks 1st on the Cost of Living rankings in South Korea. 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
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"
Seoul offers a relatively affordable dining scene, with inexpensive meals available for under $10.
Housing costs vary significantly depending on location, with city centre apartments commanding higher rents.
Public transportation is efficient and affordable, making it a cost-effective option for getting around the city.
Utilities and internet services are reasonably priced, contributing to a manageable monthly budget.
Conclusion
In conclusion, Seoul presents a diverse cost of living landscape, balancing affordable dining and transportation with variable housing costs.
Potential residents should consider their lifestyle preferences and budget constraints when planning a move to this vibrant city.
Overall, Seoul offers a dynamic living experience with a range of options to suit different financial situations.