Cost Of Living in Istanbul 2025

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

Whether you're living in Istanbul 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.

Singles

The average monthly expense for a single person living in Istanbul is 51,000 TRY. Expenses can range from 7,100 TRY at the minimum level to 560,000 TRY at the highest end.

Couples

The average monthly spending of couples in Istanbul is 75,000 TRY. Expenditure can range from 12,000 TRY to 690,000 TRY per month.

Families

The average cost of living for families in Istanbul is 88,000 TRY per month. Families spend anywhere from 18,000 TRY to 880,000 TRY.

Students

The average monthly expenditure for students in Istanbul is 37,000 TRY. Students spend from 5,500 TRY to 410,000 TRY per month.

Expenditure to Income Ratio in Istanbul

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.

Expense to income distribution levels

Interpretation and Analysis

The average spending-to-salary ratio in Istanbul is 99% This means that on average, people spend around 99% of their income for living. According to the distribution table, 14% of the population spend approximately 60% to 70% of their income every month.

Individual
91%
Spending-Income-Ratio

---

85%

100%

Couple
98%
Spending-Income-Ratio

---

91%

110%

Family
100%
Spending-Income-Ratio

---

94%

110%

Retirement, pension plans, and life after work in Istanbul

What does the retirement lifestyle look like in Istanbul 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.

Retirement Income Distribution

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

Retirement Monthly Expenses in Istanbul

Housing costs, accommodation, and housing affordability in Istanbul

Rent Cost in Istanbul

Monthly Rent Prices

Studio apartment monthly rent cost

5,900 TRY

8,900 TRY

24,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$190

$280

$750

1-bedroom apartment monthly rent cost

9,100 TRY

15,000 TRY

36,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$290

$460

$1,100

2-bedroom apartment monthly rent cost

12,000 TRY

19,000 TRY

50,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$390

$590

$1,600

3-bedroom apartment monthly rent cost

15,000 TRY

25,000 TRY

69,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$480

$800

$2,200

Furnished apartment monthly rent cost

29,000 TRY

73,000 TRY

150,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$920

$2,300

$4,600

Townhouse monthly rent cost

24,000 TRY

36,000 TRY

100,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$750

$1,100

$3,200

House monthly rent cost

29,000 TRY

73,000 TRY

150,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$920

$2,300

$4,600

Villa monthly rent cost

36,000 TRY

89,000 TRY

140,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$1,100

$2,800

$4,500

The monthly rental cost of a studio apartment in Istanbul ranges between 5,900 TRY and 24,000 TRY, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 9,100 TRY to 36,000 TRY. Two-bedroom rentals rate ranges between 12,000 TRY and 50,000 TRY per month. The monthly rental for a three-bedroom apartment ranges from 15,000 TRY to 69,000 TRY. The average rent of a townhouse in Istanbul is around 36,000 TRY while house rental costs can be as high as 73,000 TRY per month. Finally, if you want to rent a villa, expect to pay anywhere from 36,000 TRY to 140,000 TRY per month.

Apartment and house prices in Istanbul

Cost of buying a property

Studio apartment price

1.2M TRY

1.9M TRY

3.7M TRY

MINIMUM

AVERAGE

MAXIMUM

$39,000

$59,000

$120,000

1-bedroom apartment price

1.5M TRY

2.5M TRY

9.5M TRY

MINIMUM

AVERAGE

MAXIMUM

$48,000

$80,000

$300,000

2-bedroom apartment price

2.4M TRY

7.1M TRY

14M TRY

MINIMUM

AVERAGE

MAXIMUM

$75,000

$220,000

$450,000

3-bedroom apartment price

8.1M TRY

12M TRY

36M TRY

MINIMUM

AVERAGE

MAXIMUM

$260,000

$380,000

$1.1M

Townhouse price

11M TRY

25M TRY

93M TRY

MINIMUM

AVERAGE

MAXIMUM

$340,000

$790,000

$3M

House price

13M TRY

77M TRY

110M TRY

MINIMUM

AVERAGE

MAXIMUM

$400,000

$2.4M

$3.5M

Villa price

15M TRY

85M TRY

130M TRY

MINIMUM

AVERAGE

MAXIMUM

$480,000

$2.7M

$4M

The average price of a studio apartment in Istanbul can range from 1.2M TRY to 3.7M TRY depending on location. One bedroom cost can be anywhere from 1.5M TRY to 9.5M TRY. A villa can cost you 85M TRY on average with prices ranging from 15M TRY to 130M TRY.

House / apartment prices to income ratio

Property prices in Istanbul can be x124 to x265 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x124 multiples of the average monthly salary in Istanbul.

Rent to income ratio

The average rent-to-income ratio in Istanbul is around 35%. This means that people pay 35% of their income for rent. Those figures can range from 23% to 47% depending on the salary, location, and type of property.

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.

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.

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.

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

Almost 59% of the surveyed people in Istanbul said that they can save some money at the end of each month while 41% said that aren't saving anything.

Percentage of people saving money by population group in Istanbul

Saving to Income Ratio

Average Monthly Saved Amount

For most people, 12% to 35% 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 17,000 TRY on average with savings ranging from 1,700 TRY to 260,000 TRY.

64% of surveyed singles reported some of their income going to savings while 61% of couples said the same. 53% of families confirmed their ability to save money.

How much money do people actually save in Istanbul?

Singles

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for singles

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 15% to 38% of their monthly income to savings, with 25% being the average for most singles. The average amount of money that singles are able to save is 15,000 TRY with 1,600 TRY and 160,000 TRY being the minimum and maximum respectively.

Couples

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 13% to 37% of their monthly income, with 23% being the average for most couples. The average amount of money that couples can save is 22,000 TRY with 3,400 TRY and 200,000 TRY being the minimum and maximum respectively.

Families

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for families

Interpretation and Analysis

Families in Istanbul can save anywhere between 10% to 31% of their monthly income, with 18% being the average for most families. The average amount of money that families can put aside is 26,000 TRY with 5,200 TRY and 260,000 TRY being the minimum and maximum respectively.

Saving Challenges in Istanbul

Reasons that make it difficult for people to save money

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

Around 4% of the people said that their salary is too low to accommodate a portion for savings while 7% said that the high cost of living leaves little room for savings. 11% of the residents said that they are burdened with debt and find it challenging to save money. 12% 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. 13% 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. 5% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 23% 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. 15% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 2% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Typical saving choices for people in Istanbul

Where do people choose to put their savings?

Affordable living in Istanbul

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Istanbul?

Around 46% of surveyed residents think that living in Istanbul is affordable with proper budgeting while 54% reported that it is just too expensive and not affordable even with frugality and thriftness.

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

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.

Yes44%

No56%

Based on the survey, 56% of the people living in Istanbul said that they don't have an emergency fund while 44% said that they do.

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 Leteracy41%

We asked residents of whether they acquired any adequate personal financial training in their lives. Approximately 59% 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 41% 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? 55% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 45% said that they have everything under control.

Struggles with finance55%

Easily manages finances45%

Food Prices, Dining Expenses, and Grocery Costs in Istanbul

Prices and cost of goods and services in Istanbul

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

62 TRY

120 TRY

210 TRY

MINIMUM

AVERAGE

MAXIMUM

$1.9

$3.9

$6.5

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Istanbul is approximatly 120 TRY with meal cost ranging from 62 TRY to 210 TRY. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

210 TRY

320 TRY

640 TRY

MINIMUM

AVERAGE

MAXIMUM

$6.8

$10

$20

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 210 TRY and 640 TRY with 320 TRY being the average price of a plate for one person at a regular restaurant in Istanbul.

Fine dining meal for one price

410 TRY

620 TRY

2,500 TRY

MINIMUM

AVERAGE

MAXIMUM

$13

$19

$78

The price range of a meal at fine-dining restaurant is 410 TRY to 2,500 TRY with the average cost being 620 TRY for one person. This is what you would expect to pay a top-tier diner in Istanbul.

Beverage prices, cappuccino, latte etc..

53 TRY

84 TRY

130 TRY

MINIMUM

AVERAGE

MAXIMUM

$1.7

$2.7

$4

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Istanbul is around 84 TRY. Price ranges between 53 TRY and 130 TRY depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

43 TRY

51 TRY

64 TRY

MINIMUM

AVERAGE

MAXIMUM

$1.4

$1.6

$2

The average price of a large bottle of milk in Istanbul is 51 TRY. The maximum what you would pay for milk is 64 TRY and the minimum being 43 TRY depending on the brand of milk and other properties.

12 eggs price

31 TRY

41 TRY

61 TRY

MINIMUM

AVERAGE

MAXIMUM

$0.97

$1.3

$1.9

A dozen eggs costs around 41 TRY on average with 31 TRY and 61 TRY being the lower and upper limits respectively.

Fresh whole chicken price

73 TRY

95 TRY

130 TRY

MINIMUM

AVERAGE

MAXIMUM

$2.3

$3

$4.2

The price range of a fresh whole chicken in Istanbul is between 73 TRY and 130 TRY depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 95 TRY.

Pack of beef price

89 TRY

130 TRY

270 TRY

MINIMUM

AVERAGE

MAXIMUM

$2.8

$4.2

$8.4

The price of a regular pack of beef or meat is around 130 TRY. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

32 TRY

44 TRY

63 TRY

MINIMUM

AVERAGE

MAXIMUM

$1

$1.4

$2

A bag of rice in Istanbul costs around 44 TRY on average with prices rangeing between 32 TRY and 63 TRY depending on the brand and quality.

Bag of tomatos price

12 TRY

16 TRY

31 TRY

MINIMUM

AVERAGE

MAXIMUM

$0.39

$0.52

$0.98

A bag of tomatoes costs anywhere from 12 TRY to 31 TRY. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

22 TRY

29 TRY

48 TRY

MINIMUM

AVERAGE

MAXIMUM

$0.71

$0.93

$1.5

A bag of apples costs 29 TRY on average. A bag of apples denotes 1Kg or 1lb depending on location.

Grocery and food expenditure to income ratio

The average grocery-to-income ratio in Istanbul is around 31%. This means that people spend 31% of their income on grocery and basic household items. The expenditure can range from 22% to 38% depending on salary and location.

Expenditure on food and grocery for every population group

A single person living alone spends approximately 7,400 TRY per month on grocery and food with expenditure fluctuating between 1,000 TRY and 82,000 TRY depending on location and the type of person. The average cost of food and groceries for a couple is around 9,300 TRY per month. That number can be get as low as 1,400 TRY or a high as 86,000 TRY. Families' spending on grocery ranges from 2,800 TRY to 140,000 TRY with the location, income, and size of the family being the most determinite factors.

How do people spend their money in Istanbul?

We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.

People living in Istanbul typically spend from 11% to 30% of their total monthly expenditure on housing with 22% being the average. The average spend on housing is 16,000 TRY with expenditure ranging from 1,600 TRY to 250,000 TRY. 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.

Utility expenditure like electricity, water, and gas in Istanbul ranges from 5% to 12% of total expenses with 8% being the average. The average monthly cost of utilities is 2,400 TRY with 240 TRY and 37,000 TRY being the upper and lower limits.

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 520 TRY to 79,000 TRY on commuting with 5,200 TRY being the norm for most people in one month. This means that money spent on transport constitutes about 6% of total spending on average but can go as low as 3% or as high as 10%.

The average outlay on groceries in a month in Istanbul is 13,000 TRY. The cost of groceries can range between 1,300 TRY to 190,000 TRY. People spend on average about 29% on food and groceries with upper and lower bounds of 21% and 35% respectively.

People in Istanbul allocate 6% to 14% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 11%. The range of medical expenses range from 320 TRY to 48,000 TRY with 3,200 TRY being the norm.

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 200 TRY to 31,000 TRY with 2,000 TRY being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most residents.

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 3,100 TRY per month with 310 TRY being the minimum spent amount and 46,000 TRY being the maximum.

Low-cost alternatives in Istanbul

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 options54%

Few low-cost options46%

Based on the survey, 54% of the people living in Istanbul have no problem finding low-cost alternatives to support a frugal lifestyle while 46% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Financial goals of people in Istanbul

In an attempt to understand the economic situation in Istanbul, 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.

Around 9% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 48% said their number one priority is to pay off high-interest debt or loans and improve credit. 12% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 6% reported that their priority is saving for the tuition fees and education costs of their children while 19% choose to buy a home or pay off existing mortgage before other things. 5% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 4% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 16% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Debt, loans, and mortgages in Istanbul

Percentage of people who are in debt

According to the survey, 31% of the people in Istanbul have some kind of debt, loan, mortgage, or credit card payments while 69% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Istanbul

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 Istanbul goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 4% of the debtors in Istanbul pay 60%+ of their income as debt settlement while 21% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 16% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 18% dedicated 30% to 40% of income for same. Things are looking brighter for 8% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Istanbul

6% of debtors in Istanbul confirm that real estate mortgages constitutes the main part of their outstanding debt while 32% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 11% of people and personal loans rose at 46%. Lastly, student loans are the main source of debt for 4% of debtors in Istanbul.

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 Istanbul

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.

Monthly costs and expenses of energy and basic utilities in Istanbul

Energy, electricity, water, gas, internet, and mobile cost in Istanbul

Utility Bill Cost / Electricity + Water + Gas / Individual

370 TRY

2,600 TRY

29,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$12

$83

$920

Utility Bill Cost / Electricity + Water + Gas / Couple

390 TRY

2,900 TRY

32,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$12

$90

$1,000

Utility Bill Cost / Electricity + Water + Gas / Family

730 TRY

3,700 TRY

37,000 TRY

MINIMUM

AVERAGE

MAXIMUM

$23

$120

$1,200

Internet and cable cost

320 TRY

650 TRY

860 TRY

MINIMUM

AVERAGE

MAXIMUM

$10

$20

$27

Mobile phone bill and charges

210 TRY

350 TRY

1,100 TRY

MINIMUM

AVERAGE

MAXIMUM

$6.6

$11

$33

The average monthly expenditure for individuals on electricty, water, and gas in Istanbul ranges between 370 TRY and 29,000 TRY with average being 2,600 TRY, meanwhile the expenditure of couples is slightly higher at 2,900 TRY with 390 TRY and 32,000 TRY 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 3,700 TRY. The cost of internet and WiFi is unchanged among the three groups and ranges from 320 TRY to 860 TRY with 650 TRY being the average internet bill. Finally, the average monthly mobile charges is around 350 TRY but can range between 210 TRY and 1,100 TRY depending on consumption. Mobile charges include both calling minutes as well as data packages.

Energy / Utility expense to income ratio

The average utility-to-income ratio in Istanbul is around 7.1%. This means that people pay 7.1% of their income for energy, water, internet, and mobile charges. Those figures can range from 3.5% to 12% depending on salary and location.

Cost of living comparison by city

#1 Antalya

The average cost of living in Antalya is 30,000 TRY, which is 45% less than the country average. Antalya is ranked first in Turkey in terms of expendenture and cost of living.

#2 Izmir

The average cost of living in Izmir is 38,000 TRY, which is 31% less than the country average. Izmir is ranked second in Turkey in terms of expendenture and cost of living.

#3 Ankara

The average cost of living in Ankara is 43,000 TRY, which is 22% less than the country average. Ankara is ranked third in Turkey in terms of expendenture and cost of living.

#4 Istanbul

The average cost of living in Istanbul is 55,000 TRY, which is same as the country average. Istanbul is ranked fourth in Turkey in terms of expendenture and cost of living.