Cost Of Living in Oslo 2024
Average monthly spending for singles, couples, students, and families in Oslo
Whether you're living in Oslo 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 Expenditure56,000 NOK
per month$5,3004,300 NOK $410
$53,000 560,000 NOK
Single39,000 NOK
per month$3,70013,000 NOK $1,200
$24,000 260,000 NOK
Couple65,000 NOK
per month$6,10022,000 NOK $2,000
$33,000 350,000 NOK
Family86,000 NOK
per month$8,20030,000 NOK $2,900
$45,000 470,000 NOK
Student27,000 NOK
per month$2,60011,000 NOK $1,000
$4,700 49,000 NOK
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Oslo is 39,000 NOK. Expenses can range from 13,000 NOK at the minimum level to 260,000 NOK at the highest end.
Couples
The average monthly spending of couples in Oslo is 65,000 NOK. Expenditure can range from 22,000 NOK to 350,000 NOK per month.
Families
The average cost of living for families in Oslo is 86,000 NOK per month. Families spend anywhere from 30,000 NOK to 470,000 NOK.
Students
The average monthly expenditure for students in Oslo is 27,000 NOK. Students spend from 11,000 NOK to 49,000 NOK 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 Oslo
Dining, food, and beverages costs
Large bottle of water
Fast food combo meal
Restaurant meal for one
Fine dining meal for one | 390 NOK | 580 NOK | 2,300 NOK |
Soda or Soft Drink
Cappuccino or latte Grocery and market costs
Milk large bottle
Loaf of bread
12 eggs
Fresh whole chicken
Beef 1 kg or 1 lb
Rice 1 kg or 1 lb
Tomato 1 kg or 1 lb
Apples 1 kg or 1 lb Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank
Average car 1-day rental
Average car price | 140,000 NOK | 280,000 NOK | 370,000 NOK |
Bus ticket one way
Car Service | 410 NOK | 610 NOK | 1,200 NOK |
Utility cost (monthly)
Utility Bill - Individual | 780 NOK | 2,300 NOK | 16,000 NOK |
Utility Bill - Couple | 1,100 NOK | 3,200 NOK | 17,000 NOK |
Utility Bill - Family | 910 NOK | 2,600 NOK | 14,000 NOK |
Internet and cable
Mobile phone charges | 220 NOK | 370 NOK | 1,100 NOK |
Leisure and activities costs
Movie ticket
One month gym membership | 490 NOK | 610 NOK | 1,200 NOK |
Cloths and accessories costs
Pair of jeans or pants
Woman dress | 340 NOK | 470 NOK | 1,500 NOK |
Woman shoes | 320 NOK | 440 NOK | 1,000 NOK |
Men's shoes
Men suit | 310 NOK | 380 NOK | 2,000 NOK |
Regular t-shirt Housing costs / monthly rent
Studio apartment | 5,100 NOK | 7,600 NOK | 20,000 NOK |
1-bedroom apartment | 7,600 NOK | 12,000 NOK | 31,000 NOK |
2-bedroom apartment | 10,000 NOK | 15,000 NOK | 41,000 NOK |
Housing costs / Buying
Studio apartment | $96,000 | $140,000 | $290,000 |
1-bedroom apartment | $120,000 | $190,000 | $720,000 |
2-bedroom apartment Furniture Costs
King Size Bed | 5,500 NOK | 6,900 NOK | 9,200 NOK |
Double Bed | 3,700 NOK | 5,500 NOK | 6,900 NOK |
Single Bed | 3,300 NOK | 4,300 NOK | 5,500 NOK |
Living Room | 6,200 NOK | 7,900 NOK | 28,000 NOK |
Dining Table | 2,800 NOK | 3,700 NOK | 6,900 NOK |
Sofa or Couch | 3,700 NOK | 5,000 NOK | 11,000 NOK |
Electronics and House Appliance Costs
TV Set | 3,700 NOK | 5,500 NOK | 11,000 NOK |
Fridge or Freezer | 3,300 NOK | 5,000 NOK | 6,900 NOK |
Washing Machine | 4,300 NOK | 6,200 NOK | 11,000 NOK |
Stove or Cooker | 4,000 NOK | 5,000 NOK | 6,900 NOK |
Mobile Phone | 4,600 NOK | 5,500 NOK | 7,900 NOK |
Laptop or Computer | 5,000 NOK | 6,200 NOK | 11,000 NOK |
Expenditure to Income Ratio in Oslo
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
89%
78% to 99%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 6% |
| 50% - 60% | 11% |
| 60% - 70% | 18% |
| 70% - 80% | 26% |
| 80% - 90% | 16% |
| 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 Oslo is 89%
This means that on average, people spend around 89% 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
80%
Spending-Income-Ratio
70%
89%
Couple
85%
Spending-Income-Ratio
74%
94%
Family
93%
Spending-Income-Ratio
82%
100%
How do people spend their money in Oslo?
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 | $120 1,300 NOK |
| AVERAGE | $1,600 17,000 NOK |
| HIGH | $16,000 170,000 NOK |
| Per Month |
People living in Oslo typically spend from 16% to 35% of their total monthly expenditure on housing with 27% being the average. The average spend on housing is 17,000 NOK with expenditure ranging from 1,300 NOK to 170,000 NOK. 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 | $20 220 NOK |
| AVERAGE | $270 2,800 NOK |
| HIGH | $2,700 28,000 NOK |
| Per Month |
Utility expenditure like electricity, water, and gas in Oslo ranges from 3% to 10% of total expenses with 6% being the average. The average monthly cost of utilities is 2,800 NOK with 220 NOK and 28,000 NOK being the upper and lower limits.
Transport, Fuel, Commute8%
8% of total expenses on average (4% to 12%)
| LOW | $41 430 NOK |
| AVERAGE | $530 5,600 NOK |
| HIGH | $5,300 56,000 NOK |
| 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 430 NOK to 56,000 NOK on commuting with 5,600 NOK being the norm for most people in one month. This means that money spent on transport constitutes about 8% of total spending on average but can go as low as 4% or as high as 12%.
Food and Groceries Cost27%
27% of total expenses on average (19% to 33%)
| LOW | $100 1,100 NOK |
| AVERAGE | $1,300 14,000 NOK |
| HIGH | $13,000 140,000 NOK |
| Per Month |
The average outlay on groceries in a month in Oslo is 14,000 NOK. The cost of groceries can range between 1,100 NOK to 140,000 NOK. People spend on average about 27% on food and groceries with upper and lower bounds of 19% and 33% respectively.
Healthcare and Medical Services9%
9% of total expenses on average (4% to 12%)
| LOW | $29 300 NOK |
| AVERAGE | $370 3,900 NOK |
| HIGH | $3,700 39,000 NOK |
| Per Month |
People in Oslo allocate 4% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 9%. The range of medical expenses range from 300 NOK to 39,000 NOK with 3,900 NOK being the norm.
Leisure and Shopping6%
6% of total expenses on average (3% to 10%)
| LOW | $16 170 NOK |
| AVERAGE | $210 2,200 NOK |
| HIGH | $2,100 22,000 NOK |
| 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 170 NOK to 22,000 NOK with 2,200 NOK 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 | $24 260 NOK |
| AVERAGE | $320 3,400 NOK |
| HIGH | $3,200 34,000 NOK |
| 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 3,400 NOK per month with 260 NOK being the minimum spent amount and 34,000 NOK being the maximum.
Other Expenses12%
12% of total expenses on average (7% to 19%)
| LOW | $53 560 NOK |
| AVERAGE | $690 7,300 NOK |
| HIGH | $6,900 73,000 NOK |
| Per Month |
How much money can you save in Oslo 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 Oslo manage to save money from their income every month?
Almost 75% of the surveyed people in Oslo said that they can save some money at the end of each month while 25% said that aren't saving anything.
Percentage of people saving money by population group in Oslo
| Group | Savers | Non Savers |
|---|
| Singles | 80% | 20% |
| Couples | 74% | 26% |
| Families | 69% | 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
Average Monthly Saved Amount
1,800 NOK
$170 | 23,000 NOK
$2,200 | 230,000 NOK
$22,000 |
For most people, 14% to 36% of their monthly income is what they can allocate to their savings, with 23% being the average. The amount of money that people can save is approximately 23,000 NOK on average with savings ranging from 1,800 NOK to 230,000 NOK.
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 Oslo?
The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.
Singles
Saving to Income Ratio
Average Monthly Saved Amount
5,400 NOK
$510 | 16,000 NOK
$1,500 | 110,000 NOK
$10,000 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 29% |
| 10% - 20% | 23% |
| 20% - 30% | 16% |
| 30% - 40% | 16% |
| 40% - 50% | 12% |
| > 50% | 4% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 17% to 38% of their monthly income to savings, with 27% being the average for most singles. The average amount of money that singles are able to save is 16,000 NOK with 5,400 NOK and 110,000 NOK being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
8,900 NOK
$850 | 27,000 NOK
$2,500 | 140,000 NOK
$14,000 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 33% |
| 10% - 20% | 25% |
| 20% - 30% | 19% |
| 30% - 40% | 11% |
| 40% - 50% | 9% |
| > 50% | 3% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 15% to 37% of their monthly income, with 25% being the average for most couples. The average amount of money that couples can save is 27,000 NOK with 8,900 NOK and 140,000 NOK being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
13,000 NOK
$1,200 | 36,000 NOK
$3,400 | 200,000 NOK
$19,000 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 36% |
| 10% - 20% | 28% |
| 20% - 30% | 20% |
| 30% - 40% | 8% |
| 40% - 50% | 6% |
| > 50% | 2% |
Interpretation and Analysis
Families in Oslo can save anywhere between 13% to 33% of their monthly income, with 22% being the average for most families. The average amount of money that families can put aside is 36,000 NOK with 13,000 NOK and 200,000 NOK 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 Oslo
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Oslo?
Around 86% of surveyed residents think that living in Oslo is affordable with proper budgeting while 14% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Oslo
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 options67%
Few low-cost options33%
Based on the survey, 67% of the people living in Oslo have no problem finding low-cost alternatives to support a frugal lifestyle while 33% 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 Oslo whether they have an emergency fund and the answers were as follows.
Yes84%
No17%
Based on the survey, 17% of the people living in Oslo said that they don't have an emergency fund while 84% said that they do.
Financial Literacy in Norway
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 Leteracy74%
We asked residents of Norway whether they acquired any adequate personal financial training in their lives. Approximately 26% 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 74% 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 Norway have problems or difficulties in managing their expenditures and savings so asked the people one simple question: do you struggle with your personal finances? 22% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 78% said that they have everything under control.
Struggles with finance22%
Easily manages finances78%
Financial goals of people in Oslo
In an attempt to understand the economic situation in Oslo, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.
| Financial Goal | % People |
|---|
| Emergency Fund | 7% |
| Debt Reduction | 33% |
| Retirement Savings | 8% |
| Education Funding | 8% |
| Homeownership | 17% |
| Investing | 9% |
| Travel or Lifestyle | 11% |
| Healthcare Expenses | 9% |
| Financial Independence | 8% |
Around 7% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 33% said their number one priority is to pay off high-interest debt or loans and improve credit. 8% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% 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 9% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Saving Challenges in Oslo
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Oslo. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 6% |
| High Expenses | 9% |
| Debt and Loans | 18% |
| Lack of Budgeting Skills | 10% |
| Impulsive Spending | 9% |
| Financial Emergencies | 6% |
| Living the moment | 7% |
| Will do it later | 17% |
| Inflation | 11% |
| Social Pressure | 3% |
| Market Instability | 3% |
Around 6% of the people said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 18% 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. 17% 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. 11% 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 Oslo
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 11% |
| Gold | 10% |
| Savings Accounts | 17% |
| Retirement Accounts | 11% |
| Cash Savings | 16% |
| Real Estate | 10% |
| Investment | 6% |
| Stocks | 6% |
| Bonds | 6% |
| Mutual Funds | 3% |
| Certificates of Deposit | 3% |
Retirement, pension plans, and life after work in Oslo
What does the retirement lifestyle look like in Oslo and how much retirement savings are required?
Retirement age
The retirement age for most employees in Norway is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.
Retirement planning and savings
There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.
The typical saved amount of money you should have at every age as multiples of monthly salary:| Age | Amount |
|---|
| 25 | 5x monthly salary at age 25 |
| 30 | 10x monthly salary at age 30 |
| 35 | 15x monthly salary at age 35 |
| 40 | 25x monthly salary at age 40 |
| 45 | 32x monthly salary at age 45 |
| 50 | 48x monthly salary at age 50 |
| 55 | 56x monthly salary at age 55 |
| 60 | 64x monthly salary at age 60 |
| 65 | 78x monthly salary at age 65 |
The typical average saved amount of money you should have at every age in Oslo:| Age | Amount |
|---|
| 25 | 160,000 NOK |
| 30 | 320,000 NOK |
| 35 | 560,000 NOK |
| 40 | 790,000 NOK |
| 45 | 1.2M NOK |
| 50 | 1.7M NOK |
| 55 | 2M NOK |
| 60 | 2.5M NOK |
| 65 | 2.9M NOK |
Retirement Income Distribution
We asked residents of Oslo about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 13% |
| Savings | 22% |
| Investments | 13% |
| Social Security | 8% |
| Annuities | 8% |
| Part-time Job | 10% |
| Real Estate | 17% |
| Dividends and Interest | 8% |
Retirement Monthly Expenses in Oslo 9,300 NOK
$880 | 28,000 NOK
$2,600 | 190,000 NOK
$18,000 |
Debt, loans, and mortgages in Oslo
Percentage of people who are in debt
According to the survey, 27% of the people in Oslo have some kind of debt, loan, mortgage, or credit card payments while 73% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Oslo
Debt to income ratio
29%
18% to 39%
( 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 29% of the people's monthly income in Oslo goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 12% |
| 40% - 50% | 11% |
| 30% - 40% | 13% |
| 20% - 30% | 15% |
| 10% - 20% | 18% |
| 0% - 10% | 28% |
According to our data, 3% of the debtors in Oslo pay 60%+ of their income as debt settlement while 12% 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 15% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Oslo
| Debt | % People |
|---|
| Real Estate Mortgage | 13% |
| Auto Loan | 22% |
| Student Loan | 3% |
| Credit Card | 25% |
| Personal Loan | 37% |
13% of debtors in Oslo confirm that real estate mortgages constitutes the main part of their outstanding debt while 25% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 22% of people and personal loans rose at 37%. Lastly, student loans are the main source of debt for 3% of debtors in Oslo.
About credit score and debt managementManaging debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.
Good debt vs. Bad debt
Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.
Loan Affordability Index in Oslo
Besides measuring the loan-to-income ratio, we asked residents of Oslo how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.
Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.
| Frequency | % People |
|---|
| Never | 55% |
| Once a year | 22% |
| Twice a year | 11% |
| Three times a year | 8% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Oslo
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Oslo
Monthly Rent Prices
Studio apartment | 5,100 NOK | 7,600 NOK | 20,000 NOK |
1-bedroom apartment | 7,600 NOK | 12,000 NOK | 31,000 NOK |
2-bedroom apartment | 10,000 NOK | 15,000 NOK | 41,000 NOK |
3-bedroom apartment | 12,000 NOK | 20,000 NOK | 55,000 NOK |
Furnished apartment | 24,000 NOK | 61,000 NOK | 120,000 NOK |
Townhouse | 20,000 NOK | 31,000 NOK | 87,000 NOK |
House | 24,000 NOK | 61,000 NOK | 120,000 NOK |
Villa | 31,000 NOK | 76,000 NOK | 120,000 NOK |
The monthly rental cost of a studio apartment in Oslo ranges between 5,100 NOK and 20,000 NOK, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 7,600 NOK to 31,000 NOK. Two-bedroom rentals rate ranges between 10,000 NOK and 41,000 NOK per month. The monthly rental for a three-bedroom apartment ranges from 12,000 NOK to 55,000 NOK. The average rent of a townhouse in Oslo is around 31,000 NOK while house rental costs can be as high as 61,000 NOK per month. Finally, if you want to rent a villa, expect to pay anywhere from 31,000 NOK to 120,000 NOK per month.
Apartment and house prices in Oslo
Cost of buying a property
Studio apartment | $96,000 | $140,000 | $290,000 |
1-bedroom apartment | $120,000 | $190,000 | $720,000 |
2-bedroom apartment
3-bedroom apartment
Townhouse
House
Villa The average price of a studio apartment in Oslo can range from 1M NOK to 3.1M NOK depending on location. One bedroom cost can be anywhere from 1.2M NOK to 7.6M NOK. A villa can cost you 68M NOK on average with prices ranging from 12M NOK to 100M NOK.
If you're leasing or purchasing, housing costs in Oslo 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
| 49 | x146 monthly income | 240 |
Property prices in Oslo can be x146 to x240 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x146 multiples of the average monthly salary in Oslo.
Rent to income ratio
Rent to income ratio( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Oslo is around 36%. This means that people pay 36% of their income for rent. Those figures can range from 25% to 47% 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
33% 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.
| 86 NOK | 1,100 NOK | 11,000 NOK |
Urban vs. rural living costs
Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Oslo
Housing33%
33% of total expenses on average (21% to 45%)
| LOW | $440 4,700 NOK |
| AVERAGE | $1,300 14,000 NOK |
| HIGH | $8,800 93,000 NOK |
| Per Month |
Utilities, Electricity, Water7%
7% of total expenses on average (3% to 12%)
| LOW | $73 780 NOK |
| AVERAGE | $220 2,300 NOK |
| HIGH | $1,500 16,000 NOK |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 12%)
| LOW | $98 1,000 NOK |
| AVERAGE | $290 3,100 NOK |
| HIGH | $2,000 21,000 NOK |
| Per Month |
Food and Groceries18%
18% of total expenses on average (12% to 23%)
| LOW | $200 2,100 NOK |
| AVERAGE | $590 6,200 NOK |
| HIGH | $3,900 41,000 NOK |
| Per Month |
Healthcare11%
11% of total expenses on average (5% to 15%)
| LOW | $110 1,200 NOK |
| AVERAGE | $330 3,500 NOK |
| HIGH | $2,200 23,000 NOK |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (3% to 7%)
| LOW | $61 650 NOK |
| AVERAGE | $180 1,900 NOK |
| HIGH | $1,200 13,000 NOK |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $24 260 NOK |
| AVERAGE | $73 780 NOK |
| HIGH | $490 5,200 NOK |
| Per Month |
Other Expenses20%
20% of total expenses on average (12% to 24%)
| LOW | $220 2,300 NOK |
| AVERAGE | $660 7,000 NOK |
| HIGH | $4,400 47,000 NOK |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Oslo
Housing30%
30% of total expenses on average (23% to 40%)
| LOW | $670 7,100 NOK |
| AVERAGE | $2,000 21,000 NOK |
| HIGH | $11,000 110,000 NOK |
| Per Month |
Utilities, Electricity, Water6%
6% of total expenses on average (4% to 10%)
| LOW | $100 1,100 NOK |
| AVERAGE | $310 3,200 NOK |
| HIGH | $1,600 17,000 NOK |
| Per Month |
Transport, Fuel10%
10% of total expenses on average (4% to 15%)
| LOW | $240 2,600 NOK |
| AVERAGE | $730 7,800 NOK |
| HIGH | $3,900 41,000 NOK |
| Per Month |
Food and Groceries16%
16% of total expenses on average (11% to 21%)
| LOW | $290 3,000 NOK |
| AVERAGE | $860 9,100 NOK |
| HIGH | $4,600 48,000 NOK |
| Per Month |
Healthcare13%
13% of total expenses on average (7% to 17%)
| LOW | $220 2,400 NOK |
| AVERAGE | $670 7,100 NOK |
| HIGH | $3,600 38,000 NOK |
| Per Month |
Leisure, Shopping5%
5% of total expenses on average (2% to 8%)
| LOW | $120 1,300 NOK |
| AVERAGE | $370 3,900 NOK |
| HIGH | $2,000 21,000 NOK |
| Per Month |
Education2%
2% of total expenses on average (1% to 4%)
| LOW | $41 430 NOK |
| AVERAGE | $120 1,300 NOK |
| HIGH | $650 6,900 NOK |
| Per Month |
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $350 3,700 NOK |
| AVERAGE | $1,000 11,000 NOK |
| HIGH | $5,500 59,000 NOK |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Oslo
Housing29%
29% of total expenses on average (24% to 39%)
| LOW | $910 9,700 NOK |
| AVERAGE | $2,600 28,000 NOK |
| HIGH | $14,000 150,000 NOK |
| Per Month |
Transport, Fuel6%
6% of total expenses on average (4% to 8%)
| LOW | $230 2,400 NOK |
| AVERAGE | $650 6,900 NOK |
| HIGH | $3,600 38,000 NOK |
| Per Month |
Food and Groceries20%
20% of total expenses on average (13% to 26%)
| LOW | $510 5,400 NOK |
| AVERAGE | $1,500 16,000 NOK |
| HIGH | $8,100 85,000 NOK |
| Per Month |
Healthcare10%
10% of total expenses on average (6% to 15%)
| LOW | $230 2,400 NOK |
| AVERAGE | $650 6,900 NOK |
| HIGH | $3,600 38,000 NOK |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $140 1,500 NOK |
| AVERAGE | $410 4,300 NOK |
| HIGH | $2,200 24,000 NOK |
| Per Month |
Education14%
14% of total expenses on average (7% to 22%)
| LOW | $400 4,200 NOK |
| AVERAGE | $1,100 12,000 NOK |
| HIGH | $6,300 66,000 NOK |
| Per Month |
Other Expenses14%
14% of total expenses on average (7% to 19%)
| LOW | $340 3,600 NOK |
| AVERAGE | $980 10,000 NOK |
| HIGH | $5,400 57,000 NOK |
| Per Month |
StudentCost of living and expenses break down for students living in Oslo
Housing21%
21% of total expenses on average (16% to 27%)
| LOW | $250 2,600 NOK |
| AVERAGE | $620 6,600 NOK |
| HIGH | $1,100 12,000 NOK |
| Per Month |
Utilities, Electricity, Water5%
5% of total expenses on average (3% to 9%)
| LOW | $42 440 NOK |
| AVERAGE | $100 1,100 NOK |
| HIGH | $190 2,000 NOK |
| Per Month |
Transport, Fuel5%
5% of total expenses on average (5% to 11%)
| LOW | $73 770 NOK |
| AVERAGE | $180 1,900 NOK |
| HIGH | $330 3,500 NOK |
| Per Month |
Food and Groceries22%
22% of total expenses on average (16% to 26%)
| LOW | $210 2,200 NOK |
| AVERAGE | $520 5,500 NOK |
| HIGH | $930 9,900 NOK |
| Per Month |
Healthcare8%
8% of total expenses on average (5% to 11%)
| LOW | $62 660 NOK |
| AVERAGE | $160 1,600 NOK |
| HIGH | $280 3,000 NOK |
| Per Month |
Leisure, Shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $52 550 NOK |
| AVERAGE | $130 1,400 NOK |
| HIGH | $230 2,500 NOK |
| Per Month |
Education19%
19% of total expenses on average (12% to 24%)
| LOW | $200 2,100 NOK |
| AVERAGE | $490 5,200 NOK |
| HIGH | $890 9,400 NOK |
| Per Month |
Other Expenses17%
17% of total expenses on average (11% to 23%)
| LOW | $160 1,600 NOK |
| AVERAGE | $390 4,100 NOK |
| HIGH | $700 7,400 NOK |
| Per Month |
