Cost Of Living in Copenhagen 2025
Average monthly spending for singles, couples, students, and families in Copenhagen
Whether you're living in Copenhagen 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 Expenditure
Currency: DKK
Monthly Expenditure ▶ Single
Currency: DKK
Monthly Expenditure ▶ Couple
Currency: DKK
Monthly Expenditure ▶ Family
Currency: DKK
Monthly Expenditure ▶ Student
Currency: DKK
Expenditure to Income Ratio in Copenhagen
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
93%
83% to 100%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 7% |
| 50% - 60% | 12% |
| 60% - 70% | 19% |
| 70% - 80% | 27% |
| 80% - 90% | 14% |
| 90% - 100% | 8% |
| 100% - 110% | 5% |
| 110% - 120% | 3% |
| 120% - 130% | 2% |
| 130% - 140% | 1% |
| > 140% | 1% |
Interpretation and Analysis
The average spending-to-salary ratio in Copenhagen is 93%
This means that on average, people spend around 93% of their income for living.
According to the distribution table, 19% 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
86%
Spending-Income-Ratio
76%
96%
Couple
93%
Spending-Income-Ratio
82%
100%
Family
95%
Spending-Income-Ratio
85%
110%
Low-cost alternatives in Copenhagen
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 options62%
Few low-cost options38%
Based on the survey, 62% of the people living in Copenhagen have no problem finding low-cost alternatives to support a frugal lifestyle while 38% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
How do people spend their money in Copenhagen?
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 Expenditure28%
28% of total expenses on average (17% to 36%)
| LOW | $160 1,100 DKK |
| AVERAGE | $1,600 11,000 DKK |
| HIGH | $23,000 160,000 DKK |
| Per Month |
People living in Copenhagen typically spend from 17% to 36% of their total monthly expenditure on housing with 28% being the average. The average spend on housing is 11,000 DKK with expenditure ranging from 1,100 DKK to 160,000 DKK. 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, Water, Internet, Mobile6%
6% of total expenses on average (3% to 10%)
| LOW | $23 160 DKK |
| AVERAGE | $230 1,600 DKK |
| HIGH | $3,500 24,000 DKK |
| Per Month |
Utility expenditure like electricity, water, and gas in Copenhagen ranges from 3% to 10% of total expenses with 6% being the average. The average monthly cost of utilities is 1,600 DKK with 160 DKK and 24,000 DKK being the upper and lower limits.
Transport, Fuel, Commute9%
9% of total expenses on average (4% to 13%)
| LOW | $49 340 DKK |
| AVERAGE | $490 3,400 DKK |
| HIGH | $7,400 51,000 DKK |
| 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 340 DKK to 51,000 DKK on commuting with 3,400 DKK being the norm for most people in one month. This means that money spent on transport constitutes about 9% of total spending on average but can go as low as 4% or as high as 13%.
Food and Groceries Cost26%
26% of total expenses on average (18% to 32%)
| LOW | $120 830 DKK |
| AVERAGE | $1,200 8,300 DKK |
| HIGH | $18,000 120,000 DKK |
| Per Month |
The average outlay on groceries in a month in Copenhagen is 8,300 DKK. The cost of groceries can range between 830 DKK to 120,000 DKK. People spend on average about 26% on food and groceries with upper and lower bounds of 18% and 32% respectively.
Healthcare and Medical Services8%
8% of total expenses on average (3% to 11%)
| LOW | $30 210 DKK |
| AVERAGE | $300 2,100 DKK |
| HIGH | $4,500 31,000 DKK |
| Per Month |
People in Copenhagen allocate 3% to 11% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 8%. The range of medical expenses range from 210 DKK to 31,000 DKK with 2,100 DKK being the norm.
Leisure and Shopping6%
6% of total expenses on average (3% to 10%)
| LOW | $19 130 DKK |
| AVERAGE | $190 1,300 DKK |
| HIGH | $2,900 20,000 DKK |
| 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 130 DKK to 20,000 DKK with 1,300 DKK being the average. Speaking of percentages, that equates to 3% to 10% of total expenses with an average of 6% for most residents.
Education and Schooling6%
6% of total expenses on average (4% to 12%)
| LOW | $29 200 DKK |
| AVERAGE | $290 2,000 DKK |
| HIGH | $4,300 30,000 DKK |
| 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 6% of the monthly expenditure with 4% and 12% being the lower and upper bounds respectively. The average reported education cost is 2,000 DKK per month with 200 DKK being the minimum spent amount and 30,000 DKK being the maximum.
Other Expenses11%
11% of total expenses on average (6% to 18%)
| LOW | $66 450 DKK |
| AVERAGE | $660 4,500 DKK |
| HIGH | $9,900 68,000 DKK |
| Per Month |
Financial goals of people in Copenhagen
In an attempt to understand the economic situation in Copenhagen, 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 | 6% |
| Debt Reduction | 29% |
| Retirement Savings | 7% |
| Education Funding | 9% |
| Homeownership | 16% |
| Investing | 10% |
| Travel or Lifestyle | 12% |
| Healthcare Expenses | 7% |
| Financial Independence | 10% |
Around 6% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 29% said their number one priority is to pay off high-interest debt or loans and improve credit. 7% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 9% reported that their priority is saving for the tuition fees and education costs of their children while 16% choose to buy a home or pay off existing mortgage before other things. 10% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 12% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 7% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
How much money can you save in Copenhagen 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 Copenhagen manage to save money from their income every month?
Almost 76% of the surveyed people in Copenhagen said that they can save some money at the end of each month while 24% said that aren't saving anything.
Percentage of people saving money by population group in Copenhagen
| Group | Savers | Non Savers |
|---|
| Singles | 83% | 17% |
| Couples | 82% | 19% |
| Families | 72% | 28% |
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
1,600 DKK
$240 | 16,000 DKK
$2,400 | 240,000 DKK
$35,000 |
For most people, 15% to 39% of their monthly income is what they can allocate to their savings, with 26% being the average. The amount of money that people can save is approximately 16,000 DKK on average with savings ranging from 1,600 DKK to 240,000 DKK.
83% of surveyed singles reported some of their income going to savings while 82% of couples said the same. 72% of families confirmed their ability to save money.
How much money do people actually save in Copenhagen?
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
1,500 DKK
$230 | 14,000 DKK
$2,000 | 150,000 DKK
$23,000 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 27% |
| 10% - 20% | 22% |
| 20% - 30% | 15% |
| 30% - 40% | 18% |
| 40% - 50% | 13% |
| > 50% | 5% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 19% to 41% of their monthly income to savings, with 31% being the average for most singles. The average amount of money that singles are able to save is 14,000 DKK with 1,500 DKK and 150,000 DKK being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
3,200 DKK
$460 | 21,000 DKK
$3,000 | 190,000 DKK
$28,000 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 31% |
| 10% - 20% | 24% |
| 20% - 30% | 18% |
| 30% - 40% | 13% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 17% to 41% of their monthly income, with 29% being the average for most couples. The average amount of money that couples can save is 21,000 DKK with 3,200 DKK and 190,000 DKK being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
4,900 DKK
$710 | 24,000 DKK
$3,500 | 240,000 DKK
$35,000 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 34% |
| 10% - 20% | 27% |
| 20% - 30% | 19% |
| 30% - 40% | 10% |
| 40% - 50% | 7% |
| > 50% | 3% |
Interpretation and Analysis
Families in Copenhagen can save anywhere between 13% to 34% of their monthly income, with 22% being the average for most families. The average amount of money that families can put aside is 24,000 DKK with 4,900 DKK and 240,000 DKK being the minimum and maximum respectively.
Debt, loans, and mortgages in Copenhagen
Percentage of people who are in debt
According to the survey, 27% of the people in Copenhagen have some kind of debt, loan, mortgage, or credit card payments while 73% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Copenhagen
Debt to income ratio
26%
17% to 36%
( 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 26% of the people's monthly income in Copenhagen goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 2% |
| 50% - 60% | 9% |
| 40% - 50% | 10% |
| 30% - 40% | 12% |
| 20% - 30% | 17% |
| 10% - 20% | 21% |
| 0% - 10% | 29% |
According to our data, 2% of the debtors in Copenhagen pay 60%+ of their income as debt settlement while 9% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 10% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 12% dedicated 30% to 40% of income for same. Things are looking brighter for 17% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Copenhagen
| Debt | % People |
|---|
| Real Estate Mortgage | 15% |
| Auto Loan | 25% |
| Student Loan | 3% |
| Credit Card | 23% |
| Personal Loan | 34% |
15% of debtors in Copenhagen confirm that real estate mortgages constitutes the main part of their outstanding debt while 23% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 25% of people and personal loans rose at 34%. Lastly, student loans are the main source of debt for 3% of debtors in Copenhagen.
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 Copenhagen
Besides measuring the loan-to-income ratio, we asked residents 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 | 57% |
| Once a year | 21% |
| Twice a year | 11% |
| Three times a year | 8% |
| Four times a year | 3% |
Saving Challenges in Copenhagen
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Copenhagen. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 7% |
| High Expenses | 10% |
| Debt and Loans | 20% |
| Lack of Budgeting Skills | 10% |
| Impulsive Spending | 8% |
| Financial Emergencies | 6% |
| Living the moment | 7% |
| Will do it later | 15% |
| Inflation | 10% |
| Social Pressure | 4% |
| Market Instability | 3% |
Around 7% of the people said that their salary is too low to accommodate a portion for savings while 10% said that the high cost of living leaves little room for savings. 20% of the residents said that they are burdened with debt and find it challenging to save money. 10% 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. 8% blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 7% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 15% 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. 10% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 4% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.
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.
Housing costs, accommodation, and housing affordability in Copenhagen
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Copenhagen
Monthly Rent Prices
Studio apartment monthly rent cost
| 4,200 DKK | 6,300 DKK | 17,000 DKK |
1-bedroom apartment monthly rent cost
| 6,500 DKK | 10,000 DKK | 26,000 DKK |
2-bedroom apartment monthly rent cost
| 8,900 DKK | 13,000 DKK | 35,000 DKK |
3-bedroom apartment monthly rent cost
| 11,000 DKK | 18,000 DKK | 50,000 DKK |
Furnished apartment monthly rent cost
| 21,000 DKK | 52,000 DKK | 100,000 DKK |
Townhouse monthly rent cost
| 17,000 DKK | 25,000 DKK | 73,000 DKK |
House monthly rent cost
| 21,000 DKK | 52,000 DKK | 100,000 DKK |
Villa monthly rent cost
| 25,000 DKK | 63,000 DKK | 100,000 DKK |
The monthly rental cost of a studio apartment in Copenhagen ranges between 4,200 DKK and 17,000 DKK, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 6,500 DKK to 26,000 DKK. Two-bedroom rentals rate ranges between 8,900 DKK and 35,000 DKK per month. The monthly rental for a three-bedroom apartment ranges from 11,000 DKK to 50,000 DKK. The average rent of a townhouse in Copenhagen is around 25,000 DKK while house rental costs can be as high as 52,000 DKK per month. Finally, if you want to rent a villa, expect to pay anywhere from 25,000 DKK to 100,000 DKK per month.
Apartment and house prices in Copenhagen
Cost of buying a property
Studio apartment price
| 890,000 DKK | 1.3M DKK | 2.7M DKK |
| $130,000 | $190,000 | $390,000 |
1-bedroom apartment price
| 1.1M DKK | 1.8M DKK | 6.8M DKK |
| $160,000 | $260,000 | $990,000 |
2-bedroom apartment price
| 1.7M DKK | 5.1M DKK | 10M DKK |
3-bedroom apartment price
| 5.8M DKK | 8.7M DKK | 26M DKK |
Townhouse price
House price
Villa price
The average price of a studio apartment in Copenhagen can range from 890,000 DKK to 2.7M DKK depending on location. One bedroom cost can be anywhere from 1.1M DKK to 6.8M DKK. A villa can cost you 61M DKK on average with prices ranging from 11M DKK to 91M DKK.
If you're leasing or purchasing, housing costs in Copenhagen 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
| 62 | x187 monthly income | 303 |
Property prices in Copenhagen can be x187 to x303 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x187 multiples of the average monthly salary in Copenhagen.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Copenhagen is around 41%. This means that people pay 41% of their income for rent. Those figures can range from 29% to 53% 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
32% 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.
| 72 DKK | 720 DKK | 11,000 DKK |
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.
Prices and cost of goods and services in Copenhagen
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
| 290 DKK | 440 DKK | 1,800 DKK |
Cappuccino or latte
Grocery and market costs
Milk large bottle
12 eggs
Fresh whole chicken
Pack of beef
Medium bag of rice
Bag of tomatos
Bag of apples
Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank
Average car 1-day rental
Average car price
| 110,000 DKK | 210,000 DKK | 280,000 DKK |
Bus ticket one way
Car Service
Utility cost (monthly)
Utility Bill - Individual
| 240 DKK | 1,700 DKK | 19,000 DKK |
Utility Bill - Couple
| 250 DKK | 1,900 DKK | 21,000 DKK |
Utility Bill - Family
| 470 DKK | 2,400 DKK | 24,000 DKK |
Internet and cable
Mobile phone charges
Leisure and activities costs
Movie ticket
One month gym membership
Cloths and accessories costs
Pair of jeans or pants
Woman dress
| 260 DKK | 360 DKK | 1,200 DKK |
Woman shoes
Men's shoes
Men suit
| 230 DKK | 290 DKK | 1,500 DKK |
Regular t-shirt
Housing costs / monthly rent
Studio apartment
| 4,200 DKK | 6,300 DKK | 17,000 DKK |
1-bedroom apartment
| 6,500 DKK | 10,000 DKK | 26,000 DKK |
2-bedroom apartment
| 8,900 DKK | 13,000 DKK | 35,000 DKK |
Housing costs / Buying
Studio apartment
| 890,000 DKK | 1.3M DKK | 2.7M DKK |
| $130,000 | $190,000 | $390,000 |
1-bedroom apartment
| 1.1M DKK | 1.8M DKK | 6.8M DKK |
| $160,000 | $260,000 | $990,000 |
2-bedroom apartment
| 1.7M DKK | 5.1M DKK | 10M DKK |
Furniture Costs
King Size Bed
| 4,400 DKK | 5,400 DKK | 7,300 DKK |
Double Bed
| 3,000 DKK | 4,500 DKK | 5,600 DKK |
Single Bed
| 2,700 DKK | 3,500 DKK | 4,600 DKK |
Living Room
| 5,200 DKK | 6,700 DKK | 23,000 DKK |
Dining Table
| 2,200 DKK | 2,900 DKK | 5,400 DKK |
Sofa or Couch
| 3,000 DKK | 4,100 DKK | 8,900 DKK |
Electronics and House Appliance Costs
TV Set
| 3,000 DKK | 4,500 DKK | 9,000 DKK |
Fridge or Freezer
| 2,700 DKK | 4,200 DKK | 5,700 DKK |
Washing Machine
| 3,300 DKK | 4,700 DKK | 8,500 DKK |
Stove or Cooker
| 3,100 DKK | 4,000 DKK | 5,500 DKK |
Mobile Phone
| 3,700 DKK | 4,500 DKK | 6,400 DKK |
Laptop or Computer
| 4,200 DKK | 5,100 DKK | 9,200 DKK |
Financial Literacy in
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 Leteracy76%
We asked residents of whether they acquired any adequate personal financial training in their lives. Approximately 24% 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 76% 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 have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 24% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 76% said that they have everything under control.
Struggles with finance24%
Easily manages finances76%
Monthly costs and expenses of energy and basic utilities in Copenhagen
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Copenhagen
Utility Bill Cost / Electricity + Water + Gas / Individual
| 240 DKK | 1,700 DKK | 19,000 DKK |
Utility Bill Cost / Electricity + Water + Gas / Couple
| 250 DKK | 1,900 DKK | 21,000 DKK |
Utility Bill Cost / Electricity + Water + Gas / Family
| 470 DKK | 2,400 DKK | 24,000 DKK |
Internet and cable cost
Mobile phone bill and charges
Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.
The average monthly expenditure for individuals on electricty, water, and gas in Copenhagen ranges between 240 DKK and 19,000 DKK with average being 1,700 DKK, meanwhile the expenditure of couples is slightly higher at 1,900 DKK with 250 DKK and 21,000 DKK being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 2,400 DKK. The cost of internet and WiFi is unchanged among the three groups and ranges from 230 DKK to 610 DKK with 460 DKK being the average internet bill. Finally, the average monthly mobile charges is around 250 DKK but can range between 150 DKK and 750 DKK depending on consumption. Mobile charges include both calling minutes as well as data packages.
Energy / Utility expense to income ratio
( monthly utility expenses / monthly income ) x 100
The average utility-to-income ratio in Copenhagen is around 4.7%. This means that people pay 4.7% of their income for energy, water, internet, and mobile charges. Those figures can range from 1.2% to 9.4% depending on salary and location.
Food Prices, Dining Expenses, and Grocery Costs in Copenhagen
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Copenhagen
Dining out, food, and beverages costs. Price variations for common food items.
Fast food combo meal price
The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Copenhagen is approximatly 88 DKK with meal cost ranging from 44 DKK to 150 DKK. The typical combo meal consists of a burger, french fries, and a drink.
Restaurant meal for one price
If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 150 DKK and 460 DKK with 230 DKK being the average price of a plate for one person at a regular restaurant in Copenhagen.
Fine dining meal for one price
| 290 DKK | 440 DKK | 1,800 DKK |
The price range of a meal at fine-dining restaurant is 290 DKK to 1,800 DKK with the average cost being 440 DKK for one person. This is what you would expect to pay a top-tier diner in Copenhagen.
Beverage prices, cappuccino, latte etc..
The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Copenhagen is around 60 DKK. Price ranges between 38 DKK and 90 DKK depending on the type of beverage, the size, and optional add-ons.
Grocery and market costs
Large bottle of milk price
The average price of a large bottle of milk in Copenhagen is 37 DKK. The maximum what you would pay for milk is 46 DKK and the minimum being 31 DKK depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 29 DKK on average with 22 DKK and 44 DKK being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Copenhagen is between 52 DKK and 96 DKK depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 68 DKK.
Pack of beef price
The price of a regular pack of beef or meat is around 95 DKK. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Copenhagen costs around 32 DKK on average with prices rangeing between 23 DKK and 45 DKK depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 8.8 DKK to 22 DKK. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 21 DKK on average. A bag of apples denotes 1Kg or 1lb depending on location.
Grocery and food expenditure to income ratio
( monthly grocery expenses / monthly income ) x 100
The average grocery-to-income ratio in Copenhagen is around 29%. This means that people spend 29% of their income on grocery and basic household items. The expenditure can range from 20% to 36% depending on salary and location.
Expenditure on food and grocery for every population group
A single person living alone spends approximately 4,800 DKK per month on grocery and food with expenditure fluctuating between 680 DKK and 53,000 DKK depending on location and the type of person. The average cost of food and groceries for a couple is around 6,000 DKK per month. That number can be get as low as 930 DKK or a high as 56,000 DKK. Families' spending on grocery ranges from 1,800 DKK to 90,000 DKK with the location, income, and size of the family being the most determinite factors.
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Copenhagen is 33,000 DKK. Expenses can range from 4,700 DKK at the minimum level to 360,000 DKK at the highest end.
Couples
The average monthly spending of couples in Copenhagen is 49,000 DKK. Expenditure can range from 7,500 DKK to 450,000 DKK per month.
Families
The average cost of living for families in Copenhagen is 57,000 DKK per month. Families spend anywhere from 11,000 DKK to 570,000 DKK.
Students
The average monthly expenditure for students in Copenhagen is 23,000 DKK. Students spend from 3,600 DKK to 250,000 DKK per month.
Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.
Affordable living in Copenhagen
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Copenhagen?
Around 81% of surveyed residents think that living in Copenhagen is affordable with proper budgeting while 19% reported that it is just too expensive and not affordable even with frugality and thriftness.
Retirement, pension plans, and life after work in Copenhagen
What does the retirement lifestyle look like in Copenhagen and how much retirement savings are required?
Retirement age
The retirement age for most employees in 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 Copenhagen:| Age | Amount |
|---|
| 25 | 84,000 DKK |
| 30 | 170,000 DKK |
| 35 | 310,000 DKK |
| 40 | 450,000 DKK |
| 45 | 630,000 DKK |
| 50 | 900,000 DKK |
| 55 | 1.1M DKK |
| 60 | 1.4M DKK |
| 65 | 1.6M DKK |
Retirement Income Distribution
We asked residents about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 14% |
| Savings | 21% |
| Investments | 14% |
| Social Security | 9% |
| Annuities | 9% |
| Part-time Job | 8% |
| Real Estate | 16% |
| Dividends and Interest | 9% |
Retirement Monthly Expenses in Copenhagen 2,600 DKK
$380 | 24,000 DKK
$3,400 | 260,000 DKK
$38,000 |
Typical saving choices for people in Copenhagen
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 10% |
| Gold | 9% |
| Savings Accounts | 18% |
| Retirement Accounts | 12% |
| Cash Savings | 14% |
| Real Estate | 10% |
| Investment | 6% |
| Stocks | 7% |
| Bonds | 7% |
| Mutual Funds | 3% |
| Certificates of Deposit | 4% |
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 whether they have an emergency fund and the answers were as follows.
Yes77%
No23%
Based on the survey, 23% of the people living in Copenhagen said that they don't have an emergency fund while 77% said that they do.
Cost of living comparison by city
#1 Copenhagen
The average cost of living in Copenhagen is 36,000 DKK, which is same as the country average.
Published: November 20, 2024 Last Update: April 25, 2025
