Cost Of Living in Graz 2024

Average monthly spending for singles, couples, students, and families in Graz

Whether you're living in Graz 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

4,000 EUR

per month
$4,400

310 EUR   $340
$44,000   40,000 EUR

Single

2,800 EUR

per month
$3,000

930 EUR   $1,000
$20,000   19,000 EUR

Couple

4,600 EUR

per month
$5,000

1,500 EUR   $1,700
$27,000   25,000 EUR

Family

6,200 EUR

per month
$6,700

2,200 EUR   $2,400
$37,000   34,000 EUR

Student

2,000 EUR

per month
$2,100

780 EUR   $850
$3,800   3,500 EUR
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Graz is 2,800 EUR. Expenses can range from 930 EUR at the minimum level to 19,000 EUR at the highest end.


Couples

The average monthly spending of couples in Graz is 4,600 EUR. Expenditure can range from 1,500 EUR to 25,000 EUR per month.


Families

The average cost of living for families in Graz is 6,200 EUR per month. Families spend anywhere from 2,200 EUR to 34,000 EUR.


Students

The average monthly expenditure for students in Graz is 2,000 EUR. Students spend from 780 EUR to 3,500 EUR 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 Graz


Dining, food, and beverages costs


Large bottle of water
0.48 EUR 0.54 EUR 0.62 EUR
MINIMUM AVERAGE MAXIMUM
$0.52 $0.58 $0.67
Fast food combo meal
4 EUR 8.1 EUR 13 EUR
MINIMUM AVERAGE MAXIMUM
$4.4 $8.8 $15
Restaurant meal for one
14 EUR 21 EUR 42 EUR
MINIMUM AVERAGE MAXIMUM
$15 $23 $45
Fine dining meal for one
28 EUR 42 EUR 170 EUR
MINIMUM AVERAGE MAXIMUM
$30 $45 $180
Soda or Soft Drink
0.58 EUR 0.67 EUR 0.81 EUR
MINIMUM AVERAGE MAXIMUM
$0.62 $0.73 $0.88
Cappuccino or latte
3.4 EUR 5.4 EUR 8.1 EUR
MINIMUM AVERAGE MAXIMUM
$3.6 $5.8 $8.8

Grocery and market costs


Milk large bottle
2.7 EUR 3.2 EUR 4 EUR
MINIMUM AVERAGE MAXIMUM
$2.9 $3.5 $4.4
Loaf of bread
0.49 EUR 0.55 EUR 0.64 EUR
MINIMUM AVERAGE MAXIMUM
$0.53 $0.60 $0.70
12 eggs
2 EUR 2.7 EUR 4 EUR
MINIMUM AVERAGE MAXIMUM
$2.2 $2.9 $4.4
Fresh whole chicken
4.6 EUR 5.9 EUR 8.4 EUR
MINIMUM AVERAGE MAXIMUM
$5 $6.4 $9.1
Beef 1 kg or 1 lb
5.4 EUR 8.1 EUR 16 EUR
MINIMUM AVERAGE MAXIMUM
$5.8 $8.8 $18
Rice 1 kg or 1 lb
2.2 EUR 3 EUR 4.2 EUR
MINIMUM AVERAGE MAXIMUM
$2.4 $3.2 $4.6
Tomato 1 kg or 1 lb
0.81 EUR 1.1 EUR 2 EUR
MINIMUM AVERAGE MAXIMUM
$0.88 $1.2 $2.2
Apples 1 kg or 1 lb
1.4 EUR 1.9 EUR 3.1 EUR
MINIMUM AVERAGE MAXIMUM
$1.6 $2 $3.4

Commute, travel, and transportation costs


20 minutes taxi ride
3.5 EUR 4.2 EUR 8.4 EUR
MINIMUM AVERAGE MAXIMUM
$3.8 $4.5 $9.1
Average car full tank
20 EUR 27 EUR 54 EUR
MINIMUM AVERAGE MAXIMUM
$22 $29 $58
Average car 1-day rental
22 EUR 29 EUR 43 EUR
MINIMUM AVERAGE MAXIMUM
$24 $31 $47
Average car price
10,000 EUR 20,000 EUR 27,000 EUR
MINIMUM AVERAGE MAXIMUM
$11,000 $22,000 $29,000
Bus ticket one way
0.73 EUR 1.1 EUR 2.2 EUR
MINIMUM AVERAGE MAXIMUM
$0.79 $1.2 $2.4
Car Service
29 EUR 43 EUR 87 EUR
MINIMUM AVERAGE MAXIMUM
$31 $47 $94

Utility cost (monthly)


Utility Bill - Individual
56 EUR 170 EUR 1,100 EUR
MINIMUM AVERAGE MAXIMUM
$60 $180 $1,200
Utility Bill - Couple
77 EUR 230 EUR 1,200 EUR
MINIMUM AVERAGE MAXIMUM
$84 $250 $1,300
Utility Bill - Family
65 EUR 190 EUR 1,000 EUR
MINIMUM AVERAGE MAXIMUM
$71 $200 $1,100
Internet and cable
20 EUR 40 EUR 54 EUR
MINIMUM AVERAGE MAXIMUM
$22 $44 $58
Mobile phone charges
16 EUR 27 EUR 81 EUR
MINIMUM AVERAGE MAXIMUM
$18 $29 $88

Leisure and activities costs


Movie ticket
10 EUR 13 EUR 20 EUR
MINIMUM AVERAGE MAXIMUM
$11 $15 $22
One month gym membership
35 EUR 43 EUR 87 EUR
MINIMUM AVERAGE MAXIMUM
$38 $47 $94

Cloths and accessories costs


Pair of jeans or pants
26 EUR 36 EUR 54 EUR
MINIMUM AVERAGE MAXIMUM
$28 $39 $59
Woman dress
24 EUR 33 EUR 110 EUR
MINIMUM AVERAGE MAXIMUM
$26 $36 $120
Woman shoes
23 EUR 31 EUR 72 EUR
MINIMUM AVERAGE MAXIMUM
$25 $34 $79
Men's shoes
20 EUR 24 EUR 48 EUR
MINIMUM AVERAGE MAXIMUM
$21 $26 $52
Men suit
22 EUR 27 EUR 140 EUR
MINIMUM AVERAGE MAXIMUM
$24 $29 $160
Regular t-shirt
11 EUR 14 EUR 43 EUR
MINIMUM AVERAGE MAXIMUM
$12 $16 $47

Housing costs / monthly rent


Studio apartment
360 EUR 540 EUR 1,400 EUR
MINIMUM AVERAGE MAXIMUM
$390 $590 $1,600
1-bedroom apartment
540 EUR 870 EUR 2,200 EUR
MINIMUM AVERAGE MAXIMUM
$590 $940 $2,400
2-bedroom apartment
720 EUR 1,100 EUR 2,900 EUR
MINIMUM AVERAGE MAXIMUM
$790 $1,200 $3,100

Housing costs / Buying


Studio apartment
72,000 EUR 110,000 EUR 220,000 EUR
MINIMUM AVERAGE MAXIMUM
$79,000 $120,000 $240,000
1-bedroom apartment
87,000 EUR 140,000 EUR 540,000 EUR
MINIMUM AVERAGE MAXIMUM
$94,000 $160,000 $590,000
2-bedroom apartment
140,000 EUR 430,000 EUR 870,000 EUR
MINIMUM AVERAGE MAXIMUM
$160,000 $470,000 $940,000

Furniture Costs


King Size Bed
400 EUR 500 EUR 670 EUR
MINIMUM AVERAGE MAXIMUM
$440 $550 $730
Double Bed
270 EUR 400 EUR 500 EUR
MINIMUM AVERAGE MAXIMUM
$290 $440 $550
Single Bed
240 EUR 310 EUR 400 EUR
MINIMUM AVERAGE MAXIMUM
$260 $340 $440
Living Room
450 EUR 580 EUR 2,000 EUR
MINIMUM AVERAGE MAXIMUM
$490 $630 $2,200
Dining Table
200 EUR 270 EUR 500 EUR
MINIMUM AVERAGE MAXIMUM
$220 $290 $550
Sofa or Couch
270 EUR 370 EUR 810 EUR
MINIMUM AVERAGE MAXIMUM
$290 $400 $880

Electronics and House Appliance Costs


TV Set
270 EUR 400 EUR 810 EUR
MINIMUM AVERAGE MAXIMUM
$290 $440 $880
Fridge or Freezer
240 EUR 370 EUR 500 EUR
MINIMUM AVERAGE MAXIMUM
$260 $400 $550
Washing Machine
310 EUR 450 EUR 810 EUR
MINIMUM AVERAGE MAXIMUM
$340 $490 $880
Stove or Cooker
290 EUR 370 EUR 500 EUR
MINIMUM AVERAGE MAXIMUM
$310 $400 $550
Mobile Phone
340 EUR 400 EUR 580 EUR
MINIMUM AVERAGE MAXIMUM
$360 $440 $630
Laptop or Computer
370 EUR 450 EUR 810 EUR
MINIMUM AVERAGE MAXIMUM
$400 $490 $880

Expenditure to Income Ratio in Graz

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%6%
50% - 60%12%
60% - 70%18%
70% - 80%27%
80% - 90%15%
90% - 100%9%
100% - 110%5%
110% - 120%3%
120% - 130%2%
130% - 140%2%
> 140%1%

Interpretation and Analysis

The average spending-to-salary ratio in Graz is 93% This means that on average, people spend around 93% of their income for living. According to the distribution table, 18% 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
83%
Spending-Income-Ratio
74%
92%

Couple
88%
Spending-Income-Ratio
78%
98%

Family
97%
Spending-Income-Ratio
87%
110%

How do people spend their money in Graz?

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 Expenditure27%

27% of total expenses on average (16% to 35%)

LOW$100   93 EUR
AVERAGE$1,300   1,200 EUR
HIGH$13,000   12,000 EUR
Per Month

People living in Graz typically spend from 16% to 35% of their total monthly expenditure on housing with 27% being the average. The average spend on housing is 1,200 EUR with expenditure ranging from 93 EUR to 12,000 EUR. 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, Water6%

6% of total expenses on average (3% to 10%)

LOW$17   15 EUR
AVERAGE$220   200 EUR
HIGH$2,200   2,000 EUR
Per Month

Utility expenditure like electricity, water, and gas in Graz ranges from 3% to 10% of total expenses with 6% being the average. The average monthly cost of utilities is 200 EUR with 15 EUR and 2,000 EUR being the upper and lower limits.

Transport, Fuel, Commute9%

9% of total expenses on average (4% to 13%)

LOW$34   31 EUR
AVERAGE$440   400 EUR
HIGH$4,400   4,000 EUR
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 31 EUR to 4,000 EUR on commuting with 400 EUR 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$84   77 EUR
AVERAGE$1,100   1,000 EUR
HIGH$11,000   10,000 EUR
Per Month

The average outlay on groceries in a month in Graz is 1,000 EUR. The cost of groceries can range between 77 EUR to 10,000 EUR. 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$24   22 EUR
AVERAGE$310   280 EUR
HIGH$3,100   2,800 EUR
Per Month

People in Graz 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 22 EUR to 2,800 EUR with 280 EUR being the norm.

Leisure and Shopping6%

6% of total expenses on average (3% to 10%)

LOW$13   12 EUR
AVERAGE$170   160 EUR
HIGH$1,700   1,600 EUR
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 12 EUR to 1,600 EUR with 160 EUR 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$20   19 EUR
AVERAGE$260   240 EUR
HIGH$2,600   2,400 EUR
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 240 EUR per month with 19 EUR being the minimum spent amount and 2,400 EUR being the maximum.

Other Expenses12%

12% of total expenses on average (7% to 19%)

LOW$44   40 EUR
AVERAGE$570   520 EUR
HIGH$5,700   5,200 EUR
Per Month

How much money can you save in Graz 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 Graz manage to save money from their income every month?


Saving Money
69%
Not Saving
31%

Almost 69% of the surveyed people in Graz said that they can save some money at the end of each month while 31% said that aren't saving anything.


Percentage of people saving money by population group in Graz

GroupSaversNon Savers
Singles80%20%
Couples74%26%
Families69%31%

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

12% 21% of income 35%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

130 EUR
$140
1,600 EUR
$1,800
16,000 EUR
$18,000
MINIMUM AVERAGE MAXIMUM

For most people, 12% to 35% of their monthly income is what they can allocate to their savings, with 21% being the average. The amount of money that people can save is approximately 1,600 EUR on average with savings ranging from 130 EUR to 16,000 EUR.

80% of surveyed singles reported some of their income going to savings while 74% of couples said the same. 69% of families confirmed their ability to save money.


How much money do people actually save in Graz?

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

16% 26% of income 37%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

380 EUR
$410
1,100 EUR
$1,200
7,500 EUR
$8,100
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

Saving To Income Ratio% Singles
0% - 10%28%
10% - 20%22%
20% - 30%16%
30% - 40%17%
40% - 50%13%
> 50%4%

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 16% to 37% of their monthly income to savings, with 26% being the average for most singles. The average amount of money that singles are able to save is 1,100 EUR with 380 EUR and 7,500 EUR being the minimum and maximum respectively.


Couples

Saving to Income Ratio

13% 23% of income 36%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

630 EUR
$680
1,900 EUR
$2,000
10,000 EUR
$11,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%32%
10% - 20%24%
20% - 30%19%
30% - 40%12%
40% - 50%10%
> 50%3%

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 13% to 36% of their monthly income, with 23% being the average for most couples. The average amount of money that couples can save is 1,900 EUR with 630 EUR and 10,000 EUR being the minimum and maximum respectively.


Families

Saving to Income Ratio

12% 20% of income 32%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

880 EUR
$950
2,500 EUR
$2,700
14,000 EUR
$15,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%35%
10% - 20%27%
20% - 30%20%
30% - 40%9%
40% - 50%7%
> 50%2%

Interpretation and Analysis

Families in Graz can save anywhere between 12% to 32% of their monthly income, with 20% being the average for most families. The average amount of money that families can put aside is 2,500 EUR with 880 EUR and 14,000 EUR 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 Graz

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Graz?


Yes
83%
No
18%

Around 83% of surveyed residents think that living in Graz is affordable with proper budgeting while 18% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Graz

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 options66%

Few low-cost options34%


Based on the survey, 66% of the people living in Graz have no problem finding low-cost alternatives to support a frugal lifestyle while 34% 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 Graz whether they have an emergency fund and the answers were as follows.

Yes77%

No23%


Based on the survey, 23% of the people living in Graz said that they don't have an emergency fund while 77% said that they do.

Financial Literacy in Austria

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 Leteracy69%


We asked residents of Austria whether they acquired any adequate personal financial training in their lives. Approximately 31% 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 69% 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 Austria have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 35% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 65% said that they have everything under control.

Struggles with finance35%

Easily manages finances65%

Financial goals of people in Graz

In an attempt to understand the economic situation in Graz, 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 Fund6%
Debt Reduction31%
Retirement Savings7%
Education Funding9%
Homeownership16%
Investing9%
Travel or Lifestyle11%
Healthcare Expenses8%
Financial Independence9%

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 31% 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. 9% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 11% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 8% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Saving Challenges in Graz

Reasons that make it difficult for people to save money

We wanted to understand what is stopping people from maximizing their savings in Graz. Listed below are the answers given by the survey participants.


Reason% People
Low Income7%
High Expenses10%
Debt and Loans19%
Lack of Budgeting Skills10%
Impulsive Spending9%
Financial Emergencies6%
Living the moment7%
Will do it later16%
Inflation10%
Social Pressure3%
Market Instability3%

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. 19% 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. 9% 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. 16% 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 3% said that social pressure and keeping up with peers or societal expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Typical saving choices for people in Graz

Where do people choose to put their savings?


Saving Type% People
Emergency Funds10%
Gold10%
Savings Accounts17%
Retirement Accounts12%
Cash Savings15%
Real Estate10%
Investment6%
Stocks6%
Bonds7%
Mutual Funds3%
Certificates of Deposit3%

Retirement, pension plans, and life after work in Graz

What does the retirement lifestyle look like in Graz and how much retirement savings are required?

Retirement age

The retirement age for most employees in Austria 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:
AgeAmount
255x monthly salary at age 25
3010x monthly salary at age 30
3515x monthly salary at age 35
4025x monthly salary at age 40
4532x monthly salary at age 45
5048x monthly salary at age 50
5556x monthly salary at age 55
6064x monthly salary at age 60
6578x monthly salary at age 65

The typical average saved amount of money you should have at every age in Graz:
AgeAmount
2511,000 EUR
3023,000 EUR
3540,000 EUR
4057,000 EUR
4585,000 EUR
50120,000 EUR
55140,000 EUR
60180,000 EUR
65210,000 EUR

Retirement Income Distribution

We asked residents of Graz about their retirement income sources and below are the results.

Source% People
Pensions14%
Savings21%
Investments14%
Social Security9%
Annuities9%
Part-time Job9%
Real Estate16%
Dividends and Interest9%

Retirement Monthly Expenses in Graz

670 EUR
$720
2,000 EUR
$2,200
13,000 EUR
$14,000
MINIMUM AVERAGE MAXIMUM

Debt, loans, and mortgages in Graz


Percentage of people who are in debt


In Debt
35%
Debt Free
65%

According to the survey, 35% of the people in Graz have some kind of debt, loan, mortgage, or credit card payments while 65% reported that they don't have financial obligations to banks.


Debt-to-income ratio in Graz

Debt to income ratio

31%

20% 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 31% of the people's monthly income in Graz goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%11%
40% - 50%11%
30% - 40%13%
20% - 30%16%
10% - 20%19%
0% - 10%28%

According to our data, 3% of the debtors in Graz pay 60%+ of their income as debt settlement while 11% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 11% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 13% dedicated 30% to 40% of income for same. Things are looking brighter for 16% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Graz

Debt% People
Real Estate Mortgage14%
Auto Loan24%
Student Loan3%
Credit Card24%
Personal Loan36%

14% of debtors in Graz confirm that real estate mortgages constitutes the main part of their outstanding debt while 24% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 24% of people and personal loans rose at 36%. Lastly, student loans are the main source of debt for 3% of debtors in Graz.


About credit score and debt management

Managing 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 Graz

Besides measuring the loan-to-income ratio, we asked residents of Graz 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
Never56%
Once a year22%
Twice a year11%
Three times a year8%
Four times a year4%

Housing costs, accommodation, and housing affordability in Graz

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Graz

Monthly Rent Prices

Studio apartment
360 EUR 540 EUR 1,400 EUR
MINIMUM AVERAGE MAXIMUM
$390 $590 $1,600
1-bedroom apartment
540 EUR 870 EUR 2,200 EUR
MINIMUM AVERAGE MAXIMUM
$590 $940 $2,400
2-bedroom apartment
720 EUR 1,100 EUR 2,900 EUR
MINIMUM AVERAGE MAXIMUM
$790 $1,200 $3,100
3-bedroom apartment
870 EUR 1,400 EUR 4,000 EUR
MINIMUM AVERAGE MAXIMUM
$940 $1,600 $4,300
Furnished apartment
1,700 EUR 4,300 EUR 8,700 EUR
MINIMUM AVERAGE MAXIMUM
$1,900 $4,700 $9,400
Townhouse
1,400 EUR 2,200 EUR 6,200 EUR
MINIMUM AVERAGE MAXIMUM
$1,600 $2,400 $6,700
House
1,700 EUR 4,300 EUR 8,700 EUR
MINIMUM AVERAGE MAXIMUM
$1,900 $4,700 $9,400
Villa
2,200 EUR 5,400 EUR 8,700 EUR
MINIMUM AVERAGE MAXIMUM
$2,400 $5,900 $9,400

The monthly rental cost of a studio apartment in Graz ranges between 360 EUR and 1,400 EUR, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 540 EUR to 2,200 EUR. Two-bedroom rentals rate ranges between 720 EUR and 2,900 EUR per month. The monthly rental for a three-bedroom apartment ranges from 870 EUR to 4,000 EUR. The average rent of a townhouse in Graz is around 2,200 EUR while house rental costs can be as high as 4,300 EUR per month. Finally, if you want to rent a villa, expect to pay anywhere from 2,200 EUR to 8,700 EUR per month.



Apartment and house prices in Graz

Cost of buying a property

Studio apartment
72,000 EUR 110,000 EUR 220,000 EUR
MINIMUM AVERAGE MAXIMUM
$79,000 $120,000 $240,000
1-bedroom apartment
87,000 EUR 140,000 EUR 540,000 EUR
MINIMUM AVERAGE MAXIMUM
$94,000 $160,000 $590,000
2-bedroom apartment
140,000 EUR 430,000 EUR 870,000 EUR
MINIMUM AVERAGE MAXIMUM
$160,000 $470,000 $940,000
3-bedroom apartment
480,000 EUR 720,000 EUR 2.2M EUR
MINIMUM AVERAGE MAXIMUM
$520,000 $790,000 $2.4M
Townhouse
620,000 EUR 1.4M EUR 5.4M EUR
MINIMUM AVERAGE MAXIMUM
$670,000 $1.6M $5.9M
House
720,000 EUR 4.3M EUR 6.2M EUR
MINIMUM AVERAGE MAXIMUM
$790,000 $4.7M $6.7M
Villa
870,000 EUR 4.8M EUR 7.2M EUR
MINIMUM AVERAGE MAXIMUM
$940,000 $5.2M $7.9M

The average price of a studio apartment in Graz can range from 72,000 EUR to 220,000 EUR depending on location. One bedroom cost can be anywhere from 87,000 EUR to 540,000 EUR. A villa can cost you 4.8M EUR on average with prices ranging from 870,000 EUR to 7.2M EUR.


If you're leasing or purchasing, housing costs in Graz 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


48 x140 monthly income 240
MINIMUM AVERAGE MAXIMUM

Property prices in Graz can be x140 to x240 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x140 multiples of the average monthly salary in Graz.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


26% 37% of income 48%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Graz is around 37%. This means that people pay 37% of their income for rent. Those figures can range from 26% to 48% 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
34%

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.


FROM
2.4%
AVERAGE
3.4%
TO
4.5%

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.


6.2 EUR 81 EUR 800 EUR
MINIMUM AVERAGE MAXIMUM

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.


Single
Spending habits, consumption analysis, and expenditure patterns for a single person living in Graz

Housing33%

33% of total expenses on average (21% to 45%)

LOW$360   330 EUR
AVERAGE$1,100   1,000 EUR
HIGH$7,300   6,700 EUR
Per Month

Utilities, Electricity, Water7%

7% of total expenses on average (3% to 12%)

LOW$60   56 EUR
AVERAGE$180   170 EUR
HIGH$1,200   1,100 EUR
Per Month

Transport, Fuel7%

7% of total expenses on average (5% to 13%)

LOW$81   74 EUR
AVERAGE$240   220 EUR
HIGH$1,600   1,500 EUR
Per Month

Food and Groceries17%

17% of total expenses on average (11% to 22%)

LOW$160   150 EUR
AVERAGE$480   450 EUR
HIGH$3,200   3,000 EUR
Per Month

Healthcare10%

10% of total expenses on average (4% to 14%)

LOW$91   84 EUR
AVERAGE$270   250 EUR
HIGH$1,800   1,700 EUR
Per Month

Leisure, Shopping4%

4% of total expenses on average (3% to 7%)

LOW$50   46 EUR
AVERAGE$150   140 EUR
HIGH$1,000   930 EUR
Per Month

Education2%

2% of total expenses on average (1% to 4%)

LOW$20   19 EUR
AVERAGE$60   56 EUR
HIGH$400   370 EUR
Per Month

Other Expenses20%

20% of total expenses on average (12% to 24%)

LOW$180   170 EUR
AVERAGE$540   500 EUR
HIGH$3,600   3,300 EUR
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Graz

Housing30%

30% of total expenses on average (23% to 40%)

LOW$550   510 EUR
AVERAGE$1,700   1,500 EUR
HIGH$8,900   8,200 EUR
Per Month

Utilities, Electricity, Water6%

6% of total expenses on average (4% to 10%)

LOW$84   77 EUR
AVERAGE$250   230 EUR
HIGH$1,300   1,200 EUR
Per Month

Transport, Fuel11%

11% of total expenses on average (5% to 16%)

LOW$200   190 EUR
AVERAGE$600   560 EUR
HIGH$3,200   3,000 EUR
Per Month

Food and Groceries15%

15% of total expenses on average (10% to 20%)

LOW$240   220 EUR
AVERAGE$710   650 EUR
HIGH$3,800   3,500 EUR
Per Month

Healthcare12%

12% of total expenses on average (6% to 16%)

LOW$180   170 EUR
AVERAGE$550   510 EUR
HIGH$3,000   2,700 EUR
Per Month

Leisure, Shopping5%

5% of total expenses on average (2% to 8%)

LOW$100   93 EUR
AVERAGE$300   280 EUR
HIGH$1,600   1,500 EUR
Per Month

Education2%

2% of total expenses on average (1% to 4%)

LOW$34   31 EUR
AVERAGE$100   93 EUR
HIGH$540   500 EUR
Per Month

Other Expenses19%

19% of total expenses on average (13% to 25%)

LOW$290   260 EUR
AVERAGE$860   790 EUR
HIGH$4,600   4,200 EUR
Per Month


Family
Average monthly expenses and break out of spending for families living in Graz

Housing29%

29% of total expenses on average (24% to 39%)

LOW$750   690 EUR
AVERAGE$2,100   2,000 EUR
HIGH$12,000   11,000 EUR
Per Month

Transport, Fuel7%

7% of total expenses on average (5% to 9%)

LOW$190   170 EUR
AVERAGE$540   500 EUR
HIGH$3,000   2,700 EUR
Per Month

Food and Groceries19%

19% of total expenses on average (12% to 25%)

LOW$420   390 EUR
AVERAGE$1,200   1,100 EUR
HIGH$6,600   6,100 EUR
Per Month

Healthcare9%

9% of total expenses on average (5% to 14%)

LOW$190   170 EUR
AVERAGE$540   500 EUR
HIGH$3,000   2,700 EUR
Per Month

Leisure, Shopping4%

4% of total expenses on average (2% to 8%)

LOW$120   110 EUR
AVERAGE$340   310 EUR
HIGH$1,800   1,700 EUR
Per Month

Education14%

14% of total expenses on average (7% to 22%)

LOW$330   300 EUR
AVERAGE$940   870 EUR
HIGH$5,200   4,800 EUR
Per Month

Other Expenses14%

14% of total expenses on average (7% to 19%)

LOW$280   260 EUR
AVERAGE$810   740 EUR
HIGH$4,400   4,100 EUR
Per Month


Student
Cost of living and expenses break down for students living in Graz

Housing21%

21% of total expenses on average (16% to 27%)

LOW$200   190 EUR
AVERAGE$510   470 EUR
HIGH$920   850 EUR
Per Month

Utilities, Electricity, Water5%

5% of total expenses on average (3% to 9%)

LOW$34   31 EUR
AVERAGE$85   78 EUR
HIGH$150   140 EUR
Per Month

Transport, Fuel6%

6% of total expenses on average (5% to 12%)

LOW$59   55 EUR
AVERAGE$150   140 EUR
HIGH$270   250 EUR
Per Month

Food and Groceries21%

21% of total expenses on average (15% to 25%)

LOW$170   160 EUR
AVERAGE$420   390 EUR
HIGH$760   700 EUR
Per Month

Healthcare7%

7% of total expenses on average (4% to 10%)

LOW$51   47 EUR
AVERAGE$130   120 EUR
HIGH$230   210 EUR
Per Month

Leisure, Shopping4%

4% of total expenses on average (2% to 8%)

LOW$42   39 EUR
AVERAGE$110   98 EUR
HIGH$190   180 EUR
Per Month

Education19%

19% of total expenses on average (12% to 24%)

LOW$160   150 EUR
AVERAGE$400   370 EUR
HIGH$730   670 EUR
Per Month

Other Expenses17%

17% of total expenses on average (11% to 23%)

LOW$130   120 EUR
AVERAGE$320   290 EUR
HIGH$570   530 EUR
Per Month
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