Cost Of Living For a Student in Koln 2024
Average Monthly Expenditure
Currency: EUR
Average monthly spending for students in Koln
How much money does a student need in a month to survive in Koln?
Students in Koln spend around 2,000 EUR per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 300 EUR or as high as 13,000 EUR. Location is a very important factor and has a huge influence on expenditure and budget.
Prices and cost of goods and services in Koln
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
| 9,800 EUR | 20,000 EUR | 26,000 EUR |
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
| 360 EUR | 530 EUR | 1,400 EUR |
1-bedroom apartment
| 530 EUR | 850 EUR | 2,100 EUR |
2-bedroom apartment
| 710 EUR | 1,100 EUR | 2,800 EUR |
Housing costs / Buying
Studio apartment
| 71,000 EUR | 110,000 EUR | 210,000 EUR |
| $77,000 | $120,000 | $230,000 |
1-bedroom apartment
| 85,000 EUR | 140,000 EUR | 530,000 EUR |
| $93,000 | $150,000 | $580,000 |
2-bedroom apartment
| 140,000 EUR | 430,000 EUR | 850,000 EUR |
| $150,000 | $460,000 | $930,000 |
Furniture Costs
King Size Bed
Double Bed
Single Bed
Living Room
| 440 EUR | 560 EUR | 2,000 EUR |
Dining Table
Sofa or Couch
Electronics and House Appliance Costs
TV Set
Fridge or Freezer
Washing Machine
Stove or Cooker
Mobile Phone
Laptop or Computer
How do students spend their money in Koln?
We asked thousands of students about their spending habits and expenditure break down.
Housing and accomodation expenditure for students
Accomodation Cost20%
20% of total expenses on average (15% to 26%)
| LOW | $79 73 EUR |
| AVERAGE | $510 470 EUR |
| HIGH | $3,400 3,100 EUR |
| Per Month |
Students in Koln typically spend from 15% to 26% of their total monthly expenditure on housing with 20% being the average. The average monthly spend on housing is 470 EUR with expenditure ranging from 73 EUR to 3,100 EUR. 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 utilities6%
6% of total expenses on average (4% to 10%)
| LOW | $13 12 EUR |
| AVERAGE | $85 79 EUR |
| HIGH | $570 520 EUR |
| Per Month |
Utility expenditure like electricity, water, and gas in Koln ranges from 4% to 10% of total expenses with 6% being the average for most students. The average monthly cost of utilities is 79 EUR with 12 EUR and 520 EUR being the upper and lower limits for a student of four.
Transport, fuel, and commute expenditure for students
Cost of transport and fuel5%
5% of total expenses on average (5% to 11%)
| LOW | $23 21 EUR |
| AVERAGE | $150 140 EUR |
| HIGH | $990 920 EUR |
| 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 21 EUR to 920 EUR in a month on commuting with 140 EUR being the norm for most students. This means that money spent on transport constitutes about 5% of total spending on average but can go as low as 5% or as high as 11%.
Food, groceries, and basic shopping expenditure for students
Food and Groceries Cost22%
22% of total expenses on average (16% to 26%)
| LOW | $66 61 EUR |
| AVERAGE | $430 390 EUR |
| HIGH | $2,800 2,600 EUR |
| Per Month |
The average outlay on groceries and basic houshold items for a typical student in a month in Koln is 390 EUR. The cost of groceries can range between 61 EUR to 2,600 EUR. Students spend on average about 22% on food and groceries with upper and lower bounds of 16% and 26% respectively.
Healthcare and medical services expenditure for students
Cost of healthcare8%
8% of total expenses on average (5% to 11%)
| LOW | $20 18 EUR |
| AVERAGE | $130 120 EUR |
| HIGH | $850 790 EUR |
| Per Month |
Students in Koln allocate 5% to 11% 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 8%. The range of medical expenses range from 18 EUR to 790 EUR with 120 EUR being the norm for most students.
Leisure and shopping expenditure for students
Cost of leisure and shopping3%
3% of total expenses on average (2% to 7%)
| LOW | $16 15 EUR |
| AVERAGE | $110 98 EUR |
| HIGH | $710 650 EUR |
| Per Month |
This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 15 EUR to 650 EUR with 98 EUR being the average. Speaking of percentages, that equates to 2% to 7% of total expenses with an average of 3% for most students.
Education and schooling expenditure for students
Cost of education and schooling19%
19% of total expenses on average (12% to 24%)
| LOW | $63 58 EUR |
| AVERAGE | $400 370 EUR |
| HIGH | $2,700 2,500 EUR |
| 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 370 EUR per month with 58 EUR being the minimum spent amount and 2,500 EUR being the maximum.
Other Expenses18%
18% of total expenses on average (12% to 24%)
| LOW | $49 46 EUR |
| AVERAGE | $320 290 EUR |
| HIGH | $2,100 2,000 EUR |
| 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 Koln
Income and cost of living compatibility
We asked students one simple question and recorded their answers.
Is it affordable or economical to live in Koln?
Around 79% of surveyed students think that living in Koln is affordable with proper budgeting while 21% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Koln
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 options63%
Few low-cost options37%
Based on the survey, 63% of the students living in Koln have no problem finding low-cost alternatives to support a frugal lifestyle while 37% 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 Koln whether they have an emergency fund and the answers were as follows.
Yes76%
No24%
Based on the survey, 24% of the students living in Koln said that they don't have an emergency fund while 76% said that they do.
Financial Literacy in Germany
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 Leteracy71%
We asked student guardians and parents in Koln whether they acquired any adequate personal financial training in their lives. Approximately 29% 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 71% 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 Germany have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 28% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 72% said that they have everything under control.
Struggles with finance28%
Easily manages finances72%
Housing costs, accommodation, and housing affordability in Koln
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Koln
Monthly Rent Prices
Studio apartment monthly rent cost
| 360 EUR | 530 EUR | 1,400 EUR |
1-bedroom apartment monthly rent cost
| 530 EUR | 850 EUR | 2,100 EUR |
2-bedroom apartment monthly rent cost
| 710 EUR | 1,100 EUR | 2,800 EUR |
3-bedroom apartment monthly rent cost
| 850 EUR | 1,400 EUR | 3,900 EUR |
Furnished apartment monthly rent cost
| 1,700 EUR | 4,300 EUR | 8,500 EUR |
Townhouse monthly rent cost
| 1,400 EUR | 2,100 EUR | 6,100 EUR |
House monthly rent cost
| 1,700 EUR | 4,300 EUR | 8,500 EUR |
Villa monthly rent cost
| 2,100 EUR | 5,300 EUR | 8,500 EUR |
The monthly rental cost of a studio apartment in Koln ranges between 360 EUR and 1,400 EUR, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 530 EUR to 2,100 EUR. Two-bedroom rentals rate ranges between 710 EUR and 2,800 EUR per month. The monthly rental for a three-bedroom apartment ranges from 850 EUR to 3,900 EUR. The average rent of a townhouse in Koln is around 2,100 EUR while house rental costs can be as high as 4,300 EUR per month. Finally, if you want to rent a villa, expect to pay anywhere from 2,100 EUR to 8,500 EUR per month.
Apartment and house prices in Koln
Cost of buying a property
Studio apartment price
| 71,000 EUR | 110,000 EUR | 210,000 EUR |
| $77,000 | $120,000 | $230,000 |
1-bedroom apartment price
| 85,000 EUR | 140,000 EUR | 530,000 EUR |
| $93,000 | $150,000 | $580,000 |
2-bedroom apartment price
| 140,000 EUR | 430,000 EUR | 850,000 EUR |
| $150,000 | $460,000 | $930,000 |
3-bedroom apartment price
| 470,000 EUR | 710,000 EUR | 2.1M EUR |
Townhouse price
| 610,000 EUR | 1.4M EUR | 5.3M EUR |
House price
| 710,000 EUR | 4.3M EUR | 6.1M EUR |
Villa price
| 850,000 EUR | 4.7M EUR | 7.1M EUR |
The average price of a studio apartment in Koln can range from 71,000 EUR to 210,000 EUR depending on location. One bedroom cost can be anywhere from 85,000 EUR to 530,000 EUR. A villa can cost you 4.7M EUR on average with prices ranging from 850,000 EUR to 7.1M EUR.
If you're leasing or purchasing, housing costs in Koln 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 | x144 monthly income | 231 |
Property prices in Koln can be x144 to x231 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x144 multiples of the average monthly salary in Koln.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Koln is around 35%. This means that people pay 35% of their income for rent. Those figures can range from 25% to 46% 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.
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 Koln
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Koln
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 79 EUR. The cost of internet and WiFi ranges from 20 EUR to 53 EUR with 39 EUR being the average internet bill. Finally, the average monthly mobile charges is around 26 EUR but can range between 16 EUR and 79 EUR 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 Koln is around 4.1%. This means that people pay 4.1% of their income for energy, water, internet, and mobile charges. Those figures can range from 1% to 8.3% depending on salary and location.
Food Prices, Dining Expenses, and Grocery Costs in Koln
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Koln
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 Koln is approximatly 7.9 EUR with meal cost ranging from 3.9 EUR to 13 EUR. 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 14 EUR and 41 EUR with 21 EUR being the average price of a plate for one person at a regular restaurant in Koln.
Fine dining meal for one price
The price range of a meal at fine-dining restaurant is 27 EUR to 160 EUR with the average cost being 41 EUR for one person. This is what you would expect to pay a top-tier diner in Koln.
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 Koln is around 5.3 EUR. Price ranges between 3.3 EUR and 7.9 EUR 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 Koln is 3.2 EUR. The maximum what you would pay for milk is 3.9 EUR and the minimum being 2.6 EUR depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 2.6 EUR on average with 2 EUR and 3.9 EUR being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Koln is between 4.5 EUR and 8.2 EUR depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 5.8 EUR.
Pack of beef price
The price of a regular pack of beef or meat is around 7.9 EUR. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Koln costs around 2.9 EUR on average with prices rangeing between 2.1 EUR and 4.1 EUR depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 0.79 EUR to 2 EUR. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 1.8 EUR 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 Koln is around 26%. This means that students spend 26% of their income on grocery and basic household items. The expenditure can range from 18% to 32% depending on salary and location.
Expenditure on food and grocery for students
Students' spending on grocery ranges from 61 EUR to 2,600 EUR with the location, income, and size of the student being the most determinite factors.
