Cost Of Living in Budapest 2024
Average monthly spending for singles, couples, students, and families in Budapest
Whether you're living in Budapest or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.
Average Monthly Expenditure820,000 HUF
per month$2,20063,000 HUF $170
$22,000 8.2M HUF
Single570,000 HUF
per month$1,600190,000 HUF $520
$10,000 3.8M HUF
Couple950,000 HUF
per month$2,600320,000 HUF $860
$14,000 5M HUF
Family1.3M HUF
per month$3,500440,000 HUF $1,200
$19,000 6.9M HUF
Student380,000 HUF
per month$1,100150,000 HUF $420
$1,900 690,000 HUF
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Budapest is 570,000 HUF. Expenses can range from 190,000 HUF at the minimum level to 3.8M HUF at the highest end.
Couples
The average monthly spending of couples in Budapest is 950,000 HUF. Expenditure can range from 320,000 HUF to 5M HUF per month.
Families
The average cost of living for families in Budapest is 1.3M HUF per month. Families spend anywhere from 440,000 HUF to 6.9M HUF.
Students
The average monthly expenditure for students in Budapest is 380,000 HUF. Students spend from 150,000 HUF to 690,000 HUF per month.
Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.
Prices and cost of goods and services in Budapest
Dining, food, and beverages costs
Large bottle of water
Fast food combo meal 780 HUF | 1,600 HUF | 2,600 HUF |
Restaurant meal for one 2,700 HUF | 4,100 HUF | 8,200 HUF |
Fine dining meal for one 5,400 HUF | 8,200 HUF | 33,000 HUF |
Soda or Soft Drink
Cappuccino or latte 650 HUF | 1,000 HUF | 1,600 HUF |
Grocery and market costs
Milk large bottle
Loaf of bread
12 eggs
Fresh whole chicken 880 HUF | 1,100 HUF | 1,600 HUF |
Beef 1 kg or 1 lb 1,000 HUF | 1,600 HUF | 3,100 HUF |
Rice 1 kg or 1 lb
Tomato 1 kg or 1 lb
Apples 1 kg or 1 lb Commute, travel, and transportation costs
20 minutes taxi ride 680 HUF | 820 HUF | 1,600 HUF |
Average car full tank 3,900 HUF | 5,200 HUF | 10,000 HUF |
Average car 1-day rental 4,300 HUF | 5,700 HUF | 8,500 HUF |
Average car price 1.9M HUF | 3.9M HUF | 5.2M HUF |
Bus ticket one way
Car Service 5,700 HUF | 8,500 HUF | 17,000 HUF |
Utility cost (monthly)
Utility Bill - Individual 11,000 HUF | 34,000 HUF | 230,000 HUF |
Utility Bill - Couple 16,000 HUF | 47,000 HUF | 250,000 HUF |
Utility Bill - Family 13,000 HUF | 38,000 HUF | 210,000 HUF |
Internet and cable 3,900 HUF | 7,800 HUF | 10,000 HUF |
Mobile phone charges 3,100 HUF | 5,200 HUF | 16,000 HUF |
Leisure and activities costs
Movie ticket 1,900 HUF | 2,600 HUF | 3,900 HUF |
One month gym membership 6,800 HUF | 8,500 HUF | 17,000 HUF |
Cloths and accessories costs
Pair of jeans or pants 5,000 HUF | 7,100 HUF | 11,000 HUF |
Woman dress 4,700 HUF | 6,600 HUF | 21,000 HUF |
Woman shoes 4,500 HUF | 6,100 HUF | 14,000 HUF |
Men's shoes 3,900 HUF | 4,700 HUF | 9,500 HUF |
Men suit 4,300 HUF | 5,300 HUF | 28,000 HUF |
Regular t-shirt 2,100 HUF | 2,800 HUF | 8,500 HUF |
Housing costs / monthly rent
Studio apartment 71,000 HUF | 110,000 HUF | 280,000 HUF |
1-bedroom apartment 110,000 HUF | 170,000 HUF | 430,000 HUF |
2-bedroom apartment 140,000 HUF | 210,000 HUF | 570,000 HUF |
Housing costs / Buying
Studio apartment
1-bedroom apartment
2-bedroom apartment $78,000 | $230,000 | $470,000 |
Furniture Costs
King Size Bed 78,000 HUF | 97,000 HUF | 130,000 HUF |
Double Bed 52,000 HUF | 78,000 HUF | 97,000 HUF |
Single Bed 46,000 HUF | 60,000 HUF | 78,000 HUF |
Living Room 86,000 HUF | 110,000 HUF | 390,000 HUF |
Dining Table 39,000 HUF | 52,000 HUF | 97,000 HUF |
Sofa or Couch 52,000 HUF | 71,000 HUF | 160,000 HUF |
Electronics and House Appliance Costs
TV Set 52,000 HUF | 78,000 HUF | 160,000 HUF |
Fridge or Freezer 46,000 HUF | 71,000 HUF | 97,000 HUF |
Washing Machine 60,000 HUF | 86,000 HUF | 160,000 HUF |
Stove or Cooker 55,000 HUF | 71,000 HUF | 97,000 HUF |
Mobile Phone 65,000 HUF | 78,000 HUF | 110,000 HUF |
Laptop or Computer 71,000 HUF | 86,000 HUF | 160,000 HUF |
Expenditure to Income Ratio in Budapest
One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.
Spending to Income Ratio
91%
83% to 100%
( expenditure / income ) x 100
Expense to income distribution levels
Spending To Income Ratio | % People |
---|
< 50% | 5% |
50% - 60% | 10% |
60% - 70% | 16% |
70% - 80% | 25% |
80% - 90% | 19% |
90% - 100% | 10% |
100% - 110% | 6% |
110% - 120% | 4% |
120% - 130% | 3% |
130% - 140% | 2% |
> 140% | 2% |
Interpretation and Analysis
The average spending-to-salary ratio in Budapest is 91%
This means that on average, people spend around 91% of their income for living.
According to the distribution table, 16% of the population spend approximately 60% to 70% of their income every month.
How can spending be more than income?
A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.
Individual
82%
Spending-Income-Ratio
74%
91%
Couple
87%
Spending-Income-Ratio
78%
96%
Family
96%
Spending-Income-Ratio
87%
110%
How do people spend their money in Budapest?
We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.
The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.
Housing Expenditure25%
25% of total expenses on average (14% to 33%)
LOW | $52 19,000 HUF |
AVERAGE | $670 250,000 HUF |
HIGH | $6,700 2.5M HUF |
| Per Month |
People living in Budapest typically spend from 14% to 33% of their total monthly expenditure on housing with 25% being the average. The average spend on housing is 250,000 HUF with expenditure ranging from 19,000 HUF to 2.5M HUF. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.
Utilities, Electricity, Water7%
7% of total expenses on average (4% to 11%)
LOW | $8.6 3,200 HUF |
AVERAGE | $110 41,000 HUF |
HIGH | $1,100 410,000 HUF |
| Per Month |
Utility expenditure like electricity, water, and gas in Budapest ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 41,000 HUF with 3,200 HUF and 410,000 HUF being the upper and lower limits.
Transport, Fuel, Commute7%
7% of total expenses on average (3% to 11%)
LOW | $17 6,300 HUF |
AVERAGE | $220 82,000 HUF |
HIGH | $2,200 820,000 HUF |
| Per Month |
Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 6,300 HUF to 820,000 HUF on commuting with 82,000 HUF being the norm for most people in one month. This means that money spent on transport constitutes about 7% of total spending on average but can go as low as 3% or as high as 11%.
Food and Groceries Cost28%
28% of total expenses on average (20% to 34%)
LOW | $43 16,000 HUF |
AVERAGE | $560 200,000 HUF |
HIGH | $5,600 2M HUF |
| Per Month |
The average outlay on groceries in a month in Budapest is 200,000 HUF. The cost of groceries can range between 16,000 HUF to 2M HUF. People spend on average about 28% on food and groceries with upper and lower bounds of 20% and 34% respectively.
Healthcare and Medical Services10%
10% of total expenses on average (5% to 13%)
LOW | $12 4,400 HUF |
AVERAGE | $160 57,000 HUF |
HIGH | $1,600 570,000 HUF |
| Per Month |
People in Budapest allocate 5% to 13% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 10%. The range of medical expenses range from 4,400 HUF to 570,000 HUF with 57,000 HUF being the norm.
Leisure and Shopping5%
5% of total expenses on average (2% to 9%)
LOW | $6.9 2,500 HUF |
AVERAGE | $90 33,000 HUF |
HIGH | $900 330,000 HUF |
| Per Month |
This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 2,500 HUF to 330,000 HUF with 33,000 HUF being the average. Speaking of percentages, that equates to 2% to 9% of total expenses with an average of 5% for most residents.
Education and Schooling5%
5% of total expenses on average (3% to 11%)
LOW | $10 3,800 HUF |
AVERAGE | $130 49,000 HUF |
HIGH | $1,300 490,000 HUF |
| Per Month |
Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 5% of the monthly expenditure with 3% and 11% being the lower and upper bounds respectively. The average reported education cost is 49,000 HUF per month with 3,800 HUF being the minimum spent amount and 490,000 HUF being the maximum.
Other Expenses13%
13% of total expenses on average (8% to 20%)
LOW | $22 8,200 HUF |
AVERAGE | $290 110,000 HUF |
HIGH | $2,900 1.1M HUF |
| Per Month |
How much money can you save in Budapest every month?
We asked thousands of people what percentage of their income can they save in a month. Below are the answers.
What percentage of people in Budapest manage to save money from their income every month?
Almost 71% of the surveyed people in Budapest said that they can save some money at the end of each month while 30% said that aren't saving anything.
Percentage of people saving money by population group in Budapest
Group | Savers | Non Savers |
---|
Singles | 71% | 29% |
Couples | 66% | 35% |
Families | 60% | 40% |
Savings-to-Income Ratio
The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.
Saving to Income Ratio
Average Monthly Saved Amount
22,000 HUF $61 | 290,000 HUF $800 | 2.9M HUF $8,000 |
For most people, 12% to 34% of their monthly income is what they can allocate to their savings, with 20% being the average. The amount of money that people can save is approximately 290,000 HUF on average with savings ranging from 22,000 HUF to 2.9M HUF.
71% of surveyed singles reported some of their income going to savings while 66% of couples said the same. 60% of families confirmed their ability to save money.
How much money do people actually save in Budapest?
The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.
Singles
Saving to Income Ratio
Average Monthly Saved Amount
67,000 HUF $180 | 200,000 HUF $550 | 1.3M HUF $3,700 |
Savings to income distribution levels for singles
Saving To Income Ratio | % Singles |
---|
0% - 10% | 31% |
10% - 20% | 24% |
20% - 30% | 16% |
30% - 40% | 14% |
40% - 50% | 11% |
> 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 15% to 36% of their monthly income to savings, with 24% being the average for most singles. The average amount of money that singles are able to save is 200,000 HUF with 67,000 HUF and 1.3M HUF being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
110,000 HUF $310 | 340,000 HUF $920 | 1.8M HUF $4,900 |
Savings to income distribution levels for couples
Saving To Income Ratio | % Couples |
---|
0% - 10% | 35% |
10% - 20% | 26% |
20% - 30% | 19% |
30% - 40% | 9% |
40% - 50% | 8% |
> 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 13% to 35% of their monthly income, with 22% being the average for most couples. The average amount of money that couples can save is 340,000 HUF with 110,000 HUF and 1.8M HUF being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
160,000 HUF $430 | 450,000 HUF $1,200 | 2.5M HUF $6,700 |
Savings to income distribution levels for families
Saving To Income Ratio | % Families |
---|
0% - 10% | 38% |
10% - 20% | 29% |
20% - 30% | 20% |
30% - 40% | 6% |
40% - 50% | 5% |
> 50% | 2% |
Interpretation and Analysis
Families in Budapest can save anywhere between 11% to 32% of their monthly income, with 18% being the average for most families. The average amount of money that families can put aside is 450,000 HUF with 160,000 HUF and 2.5M HUF being the minimum and maximum respectively.
A typical and healthy budgeting structure
The 50/30/20 rule
Spending among different people can vary significantly based on factors such as their income, lifestyle,
location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule,
which suggests allocating your income into three main categories in the following percentages.
50% for needs and financial obligations
This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.
30% for wants and discretionary spending
This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.
20% for savings and emergency fund
This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.
About financial planning, money management, and household budgeting
The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.
Affordable living in Budapest
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Budapest?
Around 72% of surveyed residents think that living in Budapest is affordable with proper budgeting while 28% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Budapest
People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked residents how easily cost-cutting is and the answers were distributed as follows:
Plenty of low-cost options65%
Few low-cost options35%
Based on the survey, 65% of the people living in Budapest have no problem finding low-cost alternatives to support a frugal lifestyle while 35% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
Emergency Funds
An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked residents of Budapest whether they have an emergency fund and the answers were as follows.
Yes72%
No28%
Based on the survey, 28% of the people living in Budapest said that they don't have an emergency fund while 72% said that they do.
Financial Literacy in Hungary
Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.
Financial Leteracy61%
We asked residents of Hungary whether they acquired any adequate personal financial training in their lives. Approximately 39% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 61% said that they know about the general principles of personal finance from sources other than their own experience.
Difficulty in Budgeting and Financial Planning
We wanted to understand whether residents of Hungary have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 30% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 70% said that they have everything under control.
Struggles with finance30%
Easily manages finances70%
Financial goals of people in Budapest
In an attempt to understand the economic situation in Budapest, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.
Financial Goal | % People |
---|
Emergency Fund | 8% |
Debt Reduction | 39% |
Retirement Savings | 9% |
Education Funding | 7% |
Homeownership | 18% |
Investing | 7% |
Travel or Lifestyle | 8% |
Healthcare Expenses | 12% |
Financial Independence | 6% |
Around 8% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 39% said their number one priority is to pay off high-interest debt or loans and improve credit. 9% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 7% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 8% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 12% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Saving Challenges in Budapest
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Budapest. Listed below are the answers given by the survey participants.
Reason | % People |
---|
Low Income | 5% |
High Expenses | 8% |
Debt and Loans | 15% |
Lack of Budgeting Skills | 11% |
Impulsive Spending | 11% |
Financial Emergencies | 7% |
Living the moment | 6% |
Will do it later | 19% |
Inflation | 12% |
Social Pressure | 3% |
Market Instability | 2% |
Around 5% of the people said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 15% of the residents said that they are burdened with debt and find it challenging to save money. 11% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 11% blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 19% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 12% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or societal expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.
Typical saving choices for people in Budapest
Where do people choose to put their savings?
Saving Type | % People |
---|
Emergency Funds | 12% |
Gold | 12% |
Savings Accounts | 17% |
Retirement Accounts | 10% |
Cash Savings | 19% |
Real Estate | 9% |
Investment | 5% |
Stocks | 5% |
Bonds | 5% |
Mutual Funds | 2% |
Certificates of Deposit | 3% |
Retirement, pension plans, and life after work in Budapest
What does the retirement lifestyle look like in Budapest and how much retirement savings are required?
Retirement age
The retirement age for most employees in Hungary is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.
Retirement planning and savings
There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.
The typical saved amount of money you should have at every age as multiples of monthly salary:Age | Amount |
---|
25 | 5x monthly salary at age 25 |
30 | 10x monthly salary at age 30 |
35 | 15x monthly salary at age 35 |
40 | 25x monthly salary at age 40 |
45 | 32x monthly salary at age 45 |
50 | 48x monthly salary at age 50 |
55 | 56x monthly salary at age 55 |
60 | 64x monthly salary at age 60 |
65 | 78x monthly salary at age 65 |
The typical average saved amount of money you should have at every age in Budapest:Age | Amount |
---|
25 | 2.2M HUF |
30 | 4.4M HUF |
35 | 7.8M HUF |
40 | 11M HUF |
45 | 17M HUF |
50 | 23M HUF |
55 | 28M HUF |
60 | 34M HUF |
65 | 41M HUF |
Retirement Income Distribution
We asked residents of Budapest about their retirement income sources and below are the results.
Source | % People |
---|
Pensions | 12% |
Savings | 23% |
Investments | 12% |
Social Security | 7% |
Annuities | 7% |
Part-time Job | 13% |
Real Estate | 18% |
Dividends and Interest | 7% |
Retirement Monthly Expenses in Budapest 140,000 HUF $380 | 410,000 HUF $1,100 | 2.8M HUF $7,600 |
Debt, loans, and mortgages in Budapest
Percentage of people who are in debt
According to the survey, 26% of the people in Budapest have some kind of debt, loan, mortgage, or credit card payments while 74% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Budapest
Debt to income ratio
32%
22% to 41%
( monthly debt payment / monthly income ) x 100
Interpretation
The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 32% of the people's monthly income in Budapest goes to debt settlement.
Debt levels23>Monthly debt settlement payment as percentage of monthly income
Debt-to-income ratio | % People |
> 60% | 3% |
50% - 60% | 16% |
40% - 50% | 13% |
30% - 40% | 15% |
20% - 30% | 12% |
10% - 20% | 14% |
0% - 10% | 26% |
According to our data, 3% of the debtors in Budapest pay 60%+ of their income as debt settlement while 16% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 13% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 15% dedicated 30% to 40% of income for same. Things are looking brighter for 12% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Budapest
Debt | % People |
Real Estate Mortgage | 10% |
Auto Loan | 18% |
Student Loan | 4% |
Credit Card | 28% |
Personal Loan | 41% |
10% of debtors in Budapest confirm that real estate mortgages constitutes the main part of their outstanding debt while 28% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 18% of people and personal loans rose at 41%. Lastly, student loans are the main source of debt for 4% of debtors in Budapest.
About credit score and debt managementManaging debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.
Good debt vs. Bad debt
Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.
Loan Affordability Index in Budapest
Besides measuring the loan-to-income ratio, we asked residents of Budapest how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.
Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.
Frequency | % People |
Never | 52% |
Once a year | 23% |
Twice a year | 12% |
Three times a year | 9% |
Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Budapest
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Budapest
Monthly Rent Prices
Studio apartment 71,000 HUF | 110,000 HUF | 280,000 HUF |
1-bedroom apartment 110,000 HUF | 170,000 HUF | 430,000 HUF |
2-bedroom apartment 140,000 HUF | 210,000 HUF | 570,000 HUF |
3-bedroom apartment 170,000 HUF | 280,000 HUF | 780,000 HUF |
Furnished apartment 340,000 HUF | 850,000 HUF | 1.7M HUF |
Townhouse 280,000 HUF | 430,000 HUF | 1.2M HUF |
House 340,000 HUF | 850,000 HUF | 1.7M HUF |
Villa 430,000 HUF | 1.1M HUF | 1.7M HUF |
The monthly rental cost of a studio apartment in Budapest ranges between 71,000 HUF and 280,000 HUF, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 110,000 HUF to 430,000 HUF. Two-bedroom rentals rate ranges between 140,000 HUF and 570,000 HUF per month. The monthly rental for a three-bedroom apartment ranges from 170,000 HUF to 780,000 HUF. The average rent of a townhouse in Budapest is around 430,000 HUF while house rental costs can be as high as 850,000 HUF per month. Finally, if you want to rent a villa, expect to pay anywhere from 430,000 HUF to 1.7M HUF per month.
Apartment and house prices in Budapest
Cost of buying a property
Studio apartment
1-bedroom apartment
2-bedroom apartment $78,000 | $230,000 | $470,000 |
3-bedroom apartment 95M HUF | 140M HUF | 430M HUF |
Townhouse 120M HUF | 280M HUF | 1,100M HUF |
House 140M HUF | 850M HUF | 1,200M HUF |
Villa 170M HUF | 950M HUF | 1,400M HUF |
The average price of a studio apartment in Budapest can range from 14M HUF to 43M HUF depending on location. One bedroom cost can be anywhere from 17M HUF to 110M HUF. A villa can cost you 950M HUF on average with prices ranging from 170M HUF to 1,400M HUF.
If you're leasing or purchasing, housing costs in Budapest will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.
House / apartment prices to income ratio
Property price to income ratio( average property price / average monthly income ) x 100
41 | x120 monthly income | 224 |
Property prices in Budapest can be x120 to x224 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x120 multiples of the average monthly salary in Budapest.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Budapest is around 34%. This means that people pay 34% of their income for rent. Those figures can range from 23% to 45% depending on the salary, location, and type of property.
The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.
Housing affordability index
The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.
Housing Affordability Index
31% Property Taxes
Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.
Home Maintenance Costs
Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.
1,300 HUF | 16,000 HUF | 160,000 HUF |
Urban vs. rural living costs
Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Budapest
Housing31%
31% of total expenses on average (19% to 43%)
LOW | $190 68,000 HUF |
AVERAGE | $560 200,000 HUF |
HIGH | $3,700 1.4M HUF |
| Per Month |
Utilities, Electricity, Water8%
8% of total expenses on average (4% to 13%)
LOW | $31 11,000 HUF |
AVERAGE | $93 34,000 HUF |
HIGH | $620 230,000 HUF |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (3% to 11%)
LOW | $41 15,000 HUF |
AVERAGE | $120 45,000 HUF |
HIGH | $830 300,000 HUF |
| Per Month |
Food and Groceries19%
19% of total expenses on average (13% to 24%)
LOW | $83 30,000 HUF |
AVERAGE | $250 91,000 HUF |
HIGH | $1,700 610,000 HUF |
| Per Month |
Healthcare12%
12% of total expenses on average (6% to 16%)
LOW | $47 17,000 HUF |
AVERAGE | $140 51,000 HUF |
HIGH | $930 340,000 HUF |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 6%)
LOW | $26 9,500 HUF |
AVERAGE | $78 28,000 HUF |
HIGH | $520 190,000 HUF |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
LOW | $10 3,800 HUF |
AVERAGE | $31 11,000 HUF |
HIGH | $210 76,000 HUF |
| Per Month |
Other Expenses21%
21% of total expenses on average (13% to 25%)
LOW | $93 34,000 HUF |
AVERAGE | $280 100,000 HUF |
HIGH | $1,900 680,000 HUF |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Budapest
Housing28%
28% of total expenses on average (21% to 38%)
LOW | $290 100,000 HUF |
AVERAGE | $860 310,000 HUF |
HIGH | $4,600 1.7M HUF |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (5% to 11%)
LOW | $43 16,000 HUF |
AVERAGE | $130 47,000 HUF |
HIGH | $690 250,000 HUF |
| Per Month |
Transport, Fuel9%
9% of total expenses on average (3% to 14%)
LOW | $100 38,000 HUF |
AVERAGE | $310 110,000 HUF |
HIGH | $1,700 610,000 HUF |
| Per Month |
Food and Groceries17%
17% of total expenses on average (12% to 22%)
LOW | $120 44,000 HUF |
AVERAGE | $360 130,000 HUF |
HIGH | $1,900 710,000 HUF |
| Per Month |
Healthcare14%
14% of total expenses on average (8% to 18%)
LOW | $95 35,000 HUF |
AVERAGE | $290 100,000 HUF |
HIGH | $1,500 550,000 HUF |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (1% to 7%)
LOW | $52 19,000 HUF |
AVERAGE | $160 57,000 HUF |
HIGH | $830 300,000 HUF |
| Per Month |
Education1%
1% of total expenses on average (0.00% to 3%)
LOW | $17 6,300 HUF |
AVERAGE | $52 19,000 HUF |
HIGH | $280 100,000 HUF |
| Per Month |
Other Expenses20%
20% of total expenses on average (14% to 26%)
LOW | $150 54,000 HUF |
AVERAGE | $440 160,000 HUF |
HIGH | $2,400 860,000 HUF |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Budapest
Housing27%
27% of total expenses on average (22% to 37%)
LOW | $390 140,000 HUF |
AVERAGE | $1,100 400,000 HUF |
HIGH | $6,100 2.2M HUF |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (3% to 7%)
LOW | $97 35,000 HUF |
AVERAGE | $280 100,000 HUF |
HIGH | $1,500 550,000 HUF |
| Per Month |
Food and Groceries21%
21% of total expenses on average (14% to 27%)
LOW | $220 79,000 HUF |
AVERAGE | $620 230,000 HUF |
HIGH | $3,400 1.2M HUF |
| Per Month |
Healthcare11%
11% of total expenses on average (7% to 16%)
LOW | $97 35,000 HUF |
AVERAGE | $280 100,000 HUF |
HIGH | $1,500 550,000 HUF |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (1% to 7%)
LOW | $60 22,000 HUF |
AVERAGE | $170 63,000 HUF |
HIGH | $950 350,000 HUF |
| Per Month |
Education13%
13% of total expenses on average (6% to 21%)
LOW | $170 62,000 HUF |
AVERAGE | $480 180,000 HUF |
HIGH | $2,700 970,000 HUF |
| Per Month |
Other Expenses15%
15% of total expenses on average (8% to 20%)
LOW | $150 53,000 HUF |
AVERAGE | $410 150,000 HUF |
HIGH | $2,300 830,000 HUF |
| Per Month |
StudentCost of living and expenses break down for students living in Budapest
Housing19%
19% of total expenses on average (14% to 25%)
LOW | $100 37,000 HUF |
AVERAGE | $250 92,000 HUF |
HIGH | $460 170,000 HUF |
| Per Month |
Utilities, Electricity, Water6%
6% of total expenses on average (4% to 10%)
LOW | $17 6,200 HUF |
AVERAGE | $42 15,000 HUF |
HIGH | $76 28,000 HUF |
| Per Month |
Transport, Fuel4%
4% of total expenses on average (4% to 10%)
LOW | $30 11,000 HUF |
AVERAGE | $74 27,000 HUF |
HIGH | $130 48,000 HUF |
| Per Month |
Food and Groceries23%
23% of total expenses on average (17% to 27%)
LOW | $84 31,000 HUF |
AVERAGE | $210 77,000 HUF |
HIGH | $380 140,000 HUF |
| Per Month |
Healthcare9%
9% of total expenses on average (6% to 12%)
LOW | $25 9,200 HUF |
AVERAGE | $63 23,000 HUF |
HIGH | $110 42,000 HUF |
| Per Month |
Leisure, Shopping3%
3% of total expenses on average (2% to 7%)
LOW | $21 7,700 HUF |
AVERAGE | $53 19,000 HUF |
HIGH | $95 35,000 HUF |
| Per Month |
Education18%
18% of total expenses on average (11% to 23%)
LOW | $80 29,000 HUF |
AVERAGE | $200 73,000 HUF |
HIGH | $360 130,000 HUF |
| Per Month |
Other Expenses18%
18% of total expenses on average (12% to 24%)
LOW | $63 23,000 HUF |
AVERAGE | $160 58,000 HUF |
HIGH | $280 100,000 HUF |
| Per Month |