Cost Of Living For a Student in Hong Kong 2024
Average Monthly Expenditure
Currency: HKD
Average monthly spending for students in Hong Kong
How much money does a student need in a month to survive in Hong Kong?
Students in Hong Kong spend around 7,900 HKD per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 1,200 HKD or as high as 52,000 HKD. Location is a very important factor and has a huge influence on expenditure and budget.
Prices and cost of goods and services in Hong Kong
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
Cappuccino or latte
Grocery and market costs
Milk large bottle
12 eggs
Fresh whole chicken
Pack of beef
Medium bag of rice
Bag of tomatos
Bag of apples
Commute, travel, and transportation costs
20 minutes taxi ride
Average car full tank
Average car 1-day rental
Average car price
| 43,000 HKD | 86,000 HKD | 120,000 HKD |
Bus ticket one way
Car Service
Utility cost (monthly)
Utility Bill - Student
Internet and cable
Mobile phone charges
Leisure and activities costs
Movie ticket
One month gym membership
Cloths and accessories costs
Pair of jeans or pants
Woman dress
Woman shoes
Men's shoes
Men suit
Regular t-shirt
Housing costs / monthly rent
Studio apartment
| 1,400 HKD | 2,200 HKD | 5,800 HKD |
1-bedroom apartment
| 2,200 HKD | 3,500 HKD | 8,600 HKD |
2-bedroom apartment
| 2,900 HKD | 4,300 HKD | 12,000 HKD |
Housing costs / Buying
Studio apartment
| 290,000 HKD | 430,000 HKD | 860,000 HKD |
1-bedroom apartment
| 350,000 HKD | 580,000 HKD | 2.2M HKD |
2-bedroom apartment
| 580,000 HKD | 1.7M HKD | 3.5M HKD |
| $74,000 | $220,000 | $440,000 |
Furniture Costs
King Size Bed
| 1,700 HKD | 2,200 HKD | 2,900 HKD |
Double Bed
| 1,200 HKD | 1,700 HKD | 2,200 HKD |
Single Bed
| 1,000 HKD | 1,300 HKD | 1,700 HKD |
Living Room
| 1,900 HKD | 2,500 HKD | 8,600 HKD |
Dining Table
| 860 HKD | 1,200 HKD | 2,200 HKD |
Sofa or Couch
| 1,200 HKD | 1,600 HKD | 3,500 HKD |
Electronics and House Appliance Costs
TV Set
| 1,200 HKD | 1,700 HKD | 3,500 HKD |
Fridge or Freezer
| 1,000 HKD | 1,600 HKD | 2,200 HKD |
Washing Machine
| 1,300 HKD | 1,900 HKD | 3,500 HKD |
Stove or Cooker
| 1,200 HKD | 1,600 HKD | 2,200 HKD |
Mobile Phone
| 1,400 HKD | 1,700 HKD | 2,500 HKD |
Laptop or Computer
| 1,600 HKD | 1,900 HKD | 3,500 HKD |
How do students spend their money in Hong Kong?
We asked thousands of students about their spending habits and expenditure break down.
Housing and accomodation expenditure for students
Accomodation Cost21%
21% of total expenses on average (16% to 27%)
| LOW | $37 290 HKD |
| AVERAGE | $240 1,900 HKD |
| HIGH | $1,600 13,000 HKD |
| Per Month |
Students in Hong Kong typically spend from 16% to 27% of their total monthly expenditure on housing with 21% being the average. The average monthly spend on housing is 1,900 HKD with expenditure ranging from 290 HKD to 13,000 HKD. This cost mainly goes for rent but it also includes other accommodation-related expenses.
Electricity, utilities, energy, water, internet, and mobile expenditure for students
Cost of utilities5%
5% of total expenses on average (3% to 9%)
| LOW | $6.2 49 HKD |
| AVERAGE | $40 310 HKD |
| HIGH | $270 2,100 HKD |
| Per Month |
Utility expenditure like electricity, water, and gas in Hong Kong ranges from 3% to 9% of total expenses with 5% being the average for most students. The average monthly cost of utilities is 310 HKD with 49 HKD and 2,100 HKD being the upper and lower limits for a student of four.
Transport, fuel, and commute expenditure for students
Cost of transport and fuel6%
6% of total expenses on average (5% to 12%)
| LOW | $11 85 HKD |
| AVERAGE | $70 550 HKD |
| HIGH | $470 3,700 HKD |
| Per Month |
Fuel consumption and cost of transport depend heavily on whether a student resides near school and work, but roughly speaking a student would expect to spend from 85 HKD to 3,700 HKD in a month on commuting with 550 HKD being the norm for most students. This means that money spent on transport constitutes about 6% of total spending on average but can go as low as 5% or as high as 12%.
Food, groceries, and basic shopping expenditure for students
Food and Groceries Cost21%
21% of total expenses on average (15% to 25%)
| LOW | $31 240 HKD |
| AVERAGE | $200 1,600 HKD |
| HIGH | $1,300 10,000 HKD |
| Per Month |
The average outlay on groceries and basic houshold items for a typical student in a month in Hong Kong is 1,600 HKD. The cost of groceries can range between 240 HKD to 10,000 HKD. Students spend on average about 21% on food and groceries with upper and lower bounds of 15% and 25% respectively.
Healthcare and medical services expenditure for students
Cost of healthcare7%
7% of total expenses on average (4% to 10%)
| LOW | $9.4 73 HKD |
| AVERAGE | $60 470 HKD |
| HIGH | $400 3,100 HKD |
| Per Month |
Students in Hong Kong allocate 4% to 10% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 7%. The range of medical expenses range from 73 HKD to 3,100 HKD with 470 HKD being the norm for most students.
Leisure and shopping expenditure for students
Cost of leisure and shopping4%
4% of total expenses on average (2% to 8%)
| LOW | $7.8 61 HKD |
| AVERAGE | $50 390 HKD |
| HIGH | $340 2,600 HKD |
| 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 61 HKD to 2,600 HKD with 390 HKD being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most students.
Education and schooling expenditure for students
Cost of education and schooling19%
19% of total expenses on average (12% to 24%)
| LOW | $30 230 HKD |
| AVERAGE | $190 1,500 HKD |
| HIGH | $1,300 10,000 HKD |
| Per Month |
Spending on education can vary drastically between different students. On average, education constitutes 19% of the monthly expenditure of students with 12% and 24% being the lower and upper bounds respectively. The average reported education cost is 1,500 HKD per month with 230 HKD being the minimum spent amount and 10,000 HKD being the maximum.
Other Expenses17%
17% of total expenses on average (11% to 23%)
| LOW | $23 180 HKD |
| AVERAGE | $150 1,200 HKD |
| HIGH | $1,000 7,900 HKD |
| Per Month |
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 Hong Kong
Income and cost of living compatibility
We asked students one simple question and recorded their answers.
Is it affordable or economical to live in Hong Kong?
Around 81% of surveyed students think that living in Hong Kong is affordable with proper budgeting while 19% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Hong Kong
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 students how easily cost-cutting is and the answers were distributed as follows:
Plenty of low-cost options64%
Few low-cost options36%
Based on the survey, 64% of the students living in Hong Kong have no problem finding low-cost alternatives to support a frugal lifestyle while 36% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
Emergency Funds For Students
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 students of Hong Kong whether they have an emergency fund and the answers were as follows.
Yes81%
No19%
Based on the survey, 19% of the students living in Hong Kong said that they don't have an emergency fund while 81% said that they do.
Financial Literacy in Hong Kong
Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.
Financial Leteracy76%
We asked student guardians and parents in Hong Kong whether they acquired any adequate personal financial training in their lives. Approximately 24% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 76% said that they know about the general principles of personal finance from sources other than their own experience.
Difficulty in Budgeting and Financial Planning
We wanted to understand whether students of Hong Kong have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 15% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 85% said that they have everything under control.
Struggles with finance15%
Easily manages finances85%
Housing costs, accommodation, and housing affordability in Hong Kong
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Hong Kong
Monthly Rent Prices
Studio apartment monthly rent cost
| 1,400 HKD | 2,200 HKD | 5,800 HKD |
1-bedroom apartment monthly rent cost
| 2,200 HKD | 3,500 HKD | 8,600 HKD |
2-bedroom apartment monthly rent cost
| 2,900 HKD | 4,300 HKD | 12,000 HKD |
3-bedroom apartment monthly rent cost
| 3,500 HKD | 5,800 HKD | 16,000 HKD |
Furnished apartment monthly rent cost
| 6,900 HKD | 17,000 HKD | 35,000 HKD |
Townhouse monthly rent cost
| 5,800 HKD | 8,600 HKD | 25,000 HKD |
House monthly rent cost
| 6,900 HKD | 17,000 HKD | 35,000 HKD |
Villa monthly rent cost
| 8,600 HKD | 22,000 HKD | 35,000 HKD |
The monthly rental cost of a studio apartment in Hong Kong ranges between 1,400 HKD and 5,800 HKD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 2,200 HKD to 8,600 HKD. Two-bedroom rentals rate ranges between 2,900 HKD and 12,000 HKD per month. The monthly rental for a three-bedroom apartment ranges from 3,500 HKD to 16,000 HKD. The average rent of a townhouse in Hong Kong is around 8,600 HKD while house rental costs can be as high as 17,000 HKD per month. Finally, if you want to rent a villa, expect to pay anywhere from 8,600 HKD to 35,000 HKD per month.
Apartment and house prices in Hong Kong
Cost of buying a property
Studio apartment price
| 290,000 HKD | 430,000 HKD | 860,000 HKD |
1-bedroom apartment price
| 350,000 HKD | 580,000 HKD | 2.2M HKD |
2-bedroom apartment price
| 580,000 HKD | 1.7M HKD | 3.5M HKD |
| $74,000 | $220,000 | $440,000 |
3-bedroom apartment price
| 1.9M HKD | 2.9M HKD | 8.6M HKD |
Townhouse price
| 2.5M HKD | 5.8M HKD | 22M HKD |
House price
Villa price
The average price of a studio apartment in Hong Kong can range from 290,000 HKD to 860,000 HKD depending on location. One bedroom cost can be anywhere from 350,000 HKD to 2.2M HKD. A villa can cost you 19M HKD on average with prices ranging from 3.5M HKD to 29M HKD.
If you're leasing or purchasing, housing costs in Hong Kong 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
| 42 | x122 monthly income | 213 |
Property prices in Hong Kong can be x122 to x213 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x122 multiples of the average monthly salary in Hong Kong.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Hong Kong is around 32%. This means that people pay 32% of their income for rent. Those figures can range from 22% to 42% 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
30% 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 Hong Kong
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Hong Kong
Utility Bill Cost / Electricity + Water + Gas / Student
Internet and cable cost
Mobile phone bill and charges
Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.
The average monthly energy and water consumption of students is around 310 HKD. The cost of internet and WiFi ranges from 86 HKD to 230 HKD with 170 HKD being the average internet bill. Finally, the average monthly mobile charges is around 120 HKD but can range between 69 HKD and 350 HKD depending on consumption. Mobile charges include both calling minutes as well as data packages.
Energy / Utility expense to income ratio
( monthly utility expenses / monthly income ) x 100
The average utility-to-income ratio in Hong Kong is around 5%. This means that people pay 5% of their income for energy, water, internet, and mobile charges. Those figures can range from 2% to 9% depending on salary and location.
Food Prices, Dining Expenses, and Grocery Costs in Hong Kong
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Hong Kong
Dining out, food, and beverages costs. Price variations for common food items.
Fast food combo meal price
The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Hong Kong is approximatly 35 HKD with meal cost ranging from 17 HKD to 58 HKD. The typical combo meal consists of a burger, french fries, and a drink.
Restaurant meal for one price
If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 58 HKD and 170 HKD with 86 HKD being the average price of a plate for one person at a regular restaurant in Hong Kong.
Fine dining meal for one price
The price range of a meal at fine-dining restaurant is 120 HKD to 690 HKD with the average cost being 170 HKD for one person. This is what you would expect to pay a top-tier diner in Hong Kong.
Beverage prices, cappuccino, latte etc..
The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Hong Kong is around 23 HKD. Price ranges between 14 HKD and 35 HKD depending on the type of beverage, the size, and optional add-ons.
Grocery and market costs
Large bottle of milk price
The average price of a large bottle of milk in Hong Kong is 14 HKD. The maximum what you would pay for milk is 17 HKD and the minimum being 12 HKD depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 12 HKD on average with 8.6 HKD and 17 HKD being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Hong Kong is between 20 HKD and 36 HKD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 25 HKD.
Pack of beef price
The price of a regular pack of beef or meat is around 35 HKD. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Hong Kong costs around 13 HKD on average with prices rangeing between 9.3 HKD and 18 HKD depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 3.5 HKD to 8.6 HKD. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 8.1 HKD on average. A bag of apples denotes 1Kg or 1lb depending on location.
Grocery and food expenditure to income ratio
( monthly grocery expenses / monthly income ) x 100
The average grocery-to-income ratio in Hong Kong is around 25%. This means that students spend 25% of their income on grocery and basic household items. The expenditure can range from 17% to 31% depending on salary and location.
Expenditure on food and grocery for students
Students' spending on grocery ranges from 240 HKD to 10,000 HKD with the location, income, and size of the student being the most determinite factors.
