Cost Of Living in Novi Sad 2025

Average monthly spending for singles, couples, students, and families in Novi Sad

Whether you're living in Novi Sad 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 Novi Sad is 97,000 RSD. Expenses can range from 14,000 RSD at the minimum level to 650,000 RSD at the highest end.

Couples

The average monthly spending of couples in Novi Sad is 160,000 RSD. Expenditure can range from 54,000 RSD to 860,000 RSD per month.

Families

The average cost of living for families in Novi Sad is 220,000 RSD per month. Families spend anywhere from 75,000 RSD to 1.4M RSD.

Students

The average monthly expenditure for students in Novi Sad is 71,000 RSD. Students spend from 11,000 RSD to 470,000 RSD per month.

Expenditure to Income Ratio in Novi Sad

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 Novi Sad is 89% This means that on average, people spend around 89% of their income for living. According to the distribution table, 16% of the population spend approximately 60% to 70% of their income every month.

Individual
80%
Spending-Income-Ratio

---

73%

88%

Couple
85%
Spending-Income-Ratio

---

77%

92%

Family
94%
Spending-Income-Ratio

---

85%

100%

How do people spend their money in Novi Sad?

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

People living in Novi Sad typically spend from 13% to 32% of their total monthly expenditure on housing with 24% being the average. The average spend on housing is 42,000 RSD with expenditure ranging from 3,200 RSD to 420,000 RSD. 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 Novi Sad ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 7,000 RSD with 540 RSD and 70,000 RSD 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 1,100 RSD to 140,000 RSD on commuting with 14,000 RSD being the norm for most people in one month. This means that money spent on transport constitutes about 7% of total spending on average but can go as low as 3% or as high as 11%.

The average outlay on groceries in a month in Novi Sad is 35,000 RSD. The cost of groceries can range between 2,700 RSD to 350,000 RSD. People spend on average about 28% on food and groceries with upper and lower bounds of 20% and 34% respectively.

People in Novi Sad allocate 5% to 13% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 10%. The range of medical expenses range from 750 RSD to 98,000 RSD with 9,800 RSD 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 430 RSD to 56,000 RSD with 5,600 RSD being the average. Speaking of percentages, that equates to 2% to 9% of total expenses with an average of 5% 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 8,400 RSD per month with 650 RSD being the minimum spent amount and 84,000 RSD being the maximum.

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

Almost 62% of the surveyed people in Novi Sad said that they can save some money at the end of each month while 38% said that aren't saving anything.

Percentage of people saving money by population group in Novi Sad

Saving to Income Ratio

Average Monthly Saved Amount

For most people, 8.3% to 29% of their monthly income is what they can allocate to their savings, with 16% being the average. The amount of money that people can save is approximately 49,000 RSD on average with savings ranging from 3,800 RSD to 490,000 RSD.

67% of surveyed singles reported some of their income going to savings while 62% of couples said the same. 57% of families confirmed their ability to save money.

How much money do people actually save in Novi Sad?

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 11% to 31% of their monthly income to savings, with 20% being the average for most singles. The average amount of money that singles are able to save is 34,000 RSD with 3,800 RSD and 230,000 RSD 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 9.3% to 30% of their monthly income, with 18% being the average for most couples. The average amount of money that couples can save is 57,000 RSD with 19,000 RSD and 300,000 RSD 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 Novi Sad can save anywhere between 8.3% to 27% of their monthly income, with 15% being the average for most families. The average amount of money that families can put aside is 76,000 RSD with 27,000 RSD and 490,000 RSD being the minimum and maximum respectively.

Saving Challenges in Novi Sad

Reasons that make it difficult for people to save money

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

Around 5% of the people said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 15% of the residents said that they are burdened with debt and find it challenging to save money. 11% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 11% blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 20% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 12% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 2% blamed market instability and price fluctuations.

Typical saving choices for people in Novi Sad

Where do people choose to put their savings?

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

Affordable living in Novi Sad

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Novi Sad?

Around 65% of surveyed residents think that living in Novi Sad is affordable with proper budgeting while 35% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Novi Sad

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 options60%

Few low-cost options40%

Based on the survey, 60% of the people living in Novi Sad have no problem finding low-cost alternatives to support a frugal lifestyle while 40% 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 Novi Sad whether they have an emergency fund and the answers were as follows.

Yes62%

No38%

Based on the survey, 38% of the people living in Novi Sad said that they don't have an emergency fund while 62% said that they do.

Financial Literacy in Serbia

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 Leteracy58%

We asked residents of Serbia whether they acquired any adequate personal financial training in their lives. Approximately 42% 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 58% 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 Serbia have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 40% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 60% said that they have everything under control.

Struggles with finance40%

Easily manages finances60%

Financial goals of people in Novi Sad

In an attempt to understand the economic situation in Novi Sad, 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 8% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 40% said their number one priority is to pay off high-interest debt or loans and improve credit. 9% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 7% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 8% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 12% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Retirement, pension plans, and life after work in Novi Sad

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

Retirement age

The retirement age for most employees in Serbia 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 of Novi Sad about their retirement income sources and below are the results.

Retirement Monthly Expenses in Novi Sad

Debt, loans, and mortgages in Novi Sad

Percentage of people who are in debt

According to the survey, 30% of the people in Novi Sad have some kind of debt, loan, mortgage, or credit card payments while 70% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Novi Sad

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 32% of the people's monthly income in Novi Sad goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Novi Sad pay 60%+ of their income as debt settlement while 16% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 14% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 16% dedicated 30% to 40% of income for same. Things are looking brighter for 12% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Novi Sad

10% of debtors in Novi Sad confirm that real estate mortgages constitutes the main part of their outstanding debt while 28% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 17% of people and personal loans rose at 41%. Lastly, student loans are the main source of debt for 4% of debtors in Novi Sad.

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 Novi Sad

Besides measuring the loan-to-income ratio, we asked residents of Novi Sad 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.

Housing costs, accommodation, and housing affordability in Novi Sad

Rent Cost in Novi Sad

Monthly Rent Prices

Studio apartment monthly rent cost

12,000 RSD

18,000 RSD

49,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$110

$170

$450

1-bedroom apartment monthly rent cost

18,000 RSD

29,000 RSD

73,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$170

$270

$670

2-bedroom apartment monthly rent cost

24,000 RSD

36,000 RSD

97,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$220

$340

$900

3-bedroom apartment monthly rent cost

29,000 RSD

49,000 RSD

130,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$270

$450

$1,200

Furnished apartment monthly rent cost

58,000 RSD

150,000 RSD

290,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$540

$1,300

$2,700

Townhouse monthly rent cost

49,000 RSD

73,000 RSD

210,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$450

$670

$1,900

House monthly rent cost

58,000 RSD

150,000 RSD

290,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$540

$1,300

$2,700

Villa monthly rent cost

73,000 RSD

180,000 RSD

290,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$670

$1,700

$2,700

The monthly rental cost of a studio apartment in Novi Sad ranges between 12,000 RSD and 49,000 RSD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 18,000 RSD to 73,000 RSD. Two-bedroom rentals rate ranges between 24,000 RSD and 97,000 RSD per month. The monthly rental for a three-bedroom apartment ranges from 29,000 RSD to 130,000 RSD. The average rent of a townhouse in Novi Sad is around 73,000 RSD while house rental costs can be as high as 150,000 RSD per month. Finally, if you want to rent a villa, expect to pay anywhere from 73,000 RSD to 290,000 RSD per month.

Apartment and house prices in Novi Sad

Cost of buying a property

Studio apartment price

2.4M RSD

3.6M RSD

7.3M RSD

MINIMUM

AVERAGE

MAXIMUM

$22,000

$34,000

$67,000

1-bedroom apartment price

2.9M RSD

4.9M RSD

18M RSD

MINIMUM

AVERAGE

MAXIMUM

$27,000

$45,000

$170,000

2-bedroom apartment price

4.9M RSD

15M RSD

29M RSD

MINIMUM

AVERAGE

MAXIMUM

$45,000

$130,000

$270,000

3-bedroom apartment price

16M RSD

24M RSD

73M RSD

MINIMUM

AVERAGE

MAXIMUM

$150,000

$220,000

$670,000

Townhouse price

21M RSD

49M RSD

180M RSD

MINIMUM

AVERAGE

MAXIMUM

$190,000

$450,000

$1.7M

House price

24M RSD

150M RSD

210M RSD

MINIMUM

AVERAGE

MAXIMUM

$220,000

$1.3M

$1.9M

Villa price

29M RSD

160M RSD

240M RSD

MINIMUM

AVERAGE

MAXIMUM

$270,000

$1.5M

$2.2M

The average price of a studio apartment in Novi Sad can range from 2.4M RSD to 7.3M RSD depending on location. One bedroom cost can be anywhere from 2.9M RSD to 18M RSD. A villa can cost you 160M RSD on average with prices ranging from 29M RSD to 240M RSD.

House / apartment prices to income ratio

Property prices in Novi Sad can be x100 to x205 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x100 multiples of the average monthly salary in Novi Sad.

Rent to income ratio

The average rent-to-income ratio in Novi Sad is around 31%. This means that people pay 31% of their income for rent. Those figures can range from 21% to 41% 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.

Monthly costs and expenses of energy and basic utilities in Novi Sad

Energy, electricity, water, gas, internet, and mobile cost in Novi Sad

Utility Bill Cost / Electricity + Water + Gas / Individual

820 RSD

5,800 RSD

39,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$7.6

$54

$360

Utility Bill Cost / Electricity + Water + Gas / Couple

2,200 RSD

7,300 RSD

47,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$20

$67

$440

Utility Bill Cost / Electricity + Water + Gas / Family

3,800 RSD

11,000 RSD

70,000 RSD

MINIMUM

AVERAGE

MAXIMUM

$35

$100

$650

Internet and cable cost

690 RSD

1,400 RSD

1,800 RSD

MINIMUM

AVERAGE

MAXIMUM

$6.4

$13

$17

Mobile phone bill and charges

550 RSD

920 RSD

2,800 RSD

MINIMUM

AVERAGE

MAXIMUM

$5.1

$8.6

$26

The average monthly expenditure for individuals on electricty, water, and gas in Novi Sad ranges between 820 RSD and 39,000 RSD with average being 5,800 RSD, meanwhile the expenditure of couples is slightly higher at 7,300 RSD with 2,200 RSD and 47,000 RSD 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 11,000 RSD. The cost of internet and WiFi is unchanged among the three groups and ranges from 690 RSD to 1,800 RSD with 1,400 RSD being the average internet bill. Finally, the average monthly mobile charges is around 920 RSD but can range between 550 RSD and 2,800 RSD 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 Novi Sad is around 6.2%. This means that people pay 6.2% of their income for energy, water, internet, and mobile charges. Those figures can range from 3.1% to 10% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Novi Sad

Prices and cost of goods and services in Novi Sad

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

Fast food combo meal price

140 RSD

280 RSD

460 RSD

MINIMUM

AVERAGE

MAXIMUM

$1.3

$2.6

$4.3

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Novi Sad is approximatly 280 RSD with meal cost ranging from 140 RSD to 460 RSD. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

470 RSD

710 RSD

1,400 RSD

MINIMUM

AVERAGE

MAXIMUM

$4.4

$6.6

$13

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 470 RSD and 1,400 RSD with 710 RSD being the average price of a plate for one person at a regular restaurant in Novi Sad.

Fine dining meal for one price

950 RSD

1,400 RSD

5,700 RSD

MINIMUM

AVERAGE

MAXIMUM

$8.8

$13

$53

The price range of a meal at fine-dining restaurant is 950 RSD to 5,700 RSD with the average cost being 1,400 RSD for one person. This is what you would expect to pay a top-tier diner in Novi Sad.

Beverage prices, cappuccino, latte etc..

120 RSD

180 RSD

280 RSD

MINIMUM

AVERAGE

MAXIMUM

$1.1

$1.7

$2.6

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Novi Sad is around 180 RSD. Price ranges between 120 RSD and 280 RSD depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

92 RSD

110 RSD

140 RSD

MINIMUM

AVERAGE

MAXIMUM

$0.86

$1

$1.3

The average price of a large bottle of milk in Novi Sad is 110 RSD. The maximum what you would pay for milk is 140 RSD and the minimum being 92 RSD depending on the brand of milk and other properties.

12 eggs price

69 RSD

92 RSD

140 RSD

MINIMUM

AVERAGE

MAXIMUM

$0.64

$0.86

$1.3

A dozen eggs costs around 92 RSD on average with 69 RSD and 140 RSD being the lower and upper limits respectively.

Fresh whole chicken price

160 RSD

200 RSD

290 RSD

MINIMUM

AVERAGE

MAXIMUM

$1.5

$1.9

$2.7

The price range of a fresh whole chicken in Novi Sad is between 160 RSD and 290 RSD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 200 RSD.

Pack of beef price

180 RSD

280 RSD

550 RSD

MINIMUM

AVERAGE

MAXIMUM

$1.7

$2.6

$5.1

The price of a regular pack of beef or meat is around 280 RSD. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

75 RSD

100 RSD

140 RSD

MINIMUM

AVERAGE

MAXIMUM

$0.69

$0.94

$1.3

A bag of rice in Novi Sad costs around 100 RSD on average with prices rangeing between 75 RSD and 140 RSD depending on the brand and quality.

Bag of tomatos price

28 RSD

37 RSD

69 RSD

MINIMUM

AVERAGE

MAXIMUM

$0.26

$0.34

$0.64

A bag of tomatoes costs anywhere from 28 RSD to 69 RSD. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

49 RSD

65 RSD

110 RSD

MINIMUM

AVERAGE

MAXIMUM

$0.46

$0.60

$0.99

A bag of apples costs 65 RSD 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 Novi Sad is around 28%. This means that people spend 28% of their income on grocery and basic household items. The expenditure can range from 20% to 34% depending on salary and location.

Expenditure on food and grocery for every population group

A single person living alone spends approximately 16,000 RSD per month on grocery and food with expenditure fluctuating between 2,200 RSD and 100,000 RSD depending on location and the type of person. The average cost of food and groceries for a couple is around 23,000 RSD per month. That number can be get as low as 7,500 RSD or a high as 120,000 RSD. Families' spending on grocery ranges from 14,000 RSD to 250,000 RSD with the location, income, and size of the family being the most determinite factors.

SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Novi Sad

CoupleAverage monthly living expenditure breaks and spending patterns for couples in Novi Sad

FamilyAverage monthly expenses and break out of spending for families living in Novi Sad

StudentCost of living and expenses break down for students living in Novi Sad