Cost Of Living For a Student in Korca 2025

Average monthly spending for students in Korca

How much money does a student need in a month to survive in Korca?

Students in Korca spend around 150,000 ALL per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 23,000 ALL or as high as 1M ALL. Location is a very important factor and has a huge influence on expenditure and budget.

How do students spend their money in Korca?

We asked thousands of students about their spending habits and expenditure break down.

Housing and accomodation expenditure for students

Students in Korca typically spend from 14% to 25% of their total monthly expenditure on housing with 19% being the average. The average monthly spend on housing is 36,000 ALL with expenditure ranging from 5,500 ALL to 240,000 ALL. This cost mainly goes for rent but it also includes other accommodation-related expenses.

Electricity, utilities, energy, water, internet, and mobile expenditure for students

Utility expenditure like electricity, water, and gas in Korca ranges from 4% to 10% of total expenses with 6% being the average for most students. The average monthly cost of utilities is 6,000 ALL with 910 ALL and 40,000 ALL being the upper and lower limits for a student of four.

Transport, fuel, and commute expenditure for students

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 1,600 ALL to 70,000 ALL in a month on commuting with 11,000 ALL being the norm for most students. This means that money spent on transport constitutes about 4% of total spending on average but can go as low as 4% or as high as 10%.

Food, groceries, and basic shopping expenditure for students

The average outlay on groceries and basic houshold items for a typical student in a month in Korca is 30,000 ALL. The cost of groceries can range between 4,600 ALL to 200,000 ALL. Students spend on average about 23% on food and groceries with upper and lower bounds of 17% and 27% respectively.

Healthcare and medical services expenditure for students

Students in Korca allocate 6% to 12% 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 9%. The range of medical expenses range from 1,400 ALL to 60,000 ALL with 9,000 ALL being the norm for most students.

Leisure and shopping expenditure for students

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 1,100 ALL to 50,000 ALL with 7,500 ALL 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

Spending on education can vary drastically between different students. On average, education constitutes 18% of the monthly expenditure of students with 11% and 23% being the lower and upper bounds respectively. The average reported education cost is 29,000 ALL per month with 4,300 ALL being the minimum spent amount and 190,000 ALL being the maximum.

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 Korca

Income and cost of living compatibility

We asked students one simple question and recorded their answers.

Is it affordable or economical to live in Korca?

Around 61% of surveyed students think that living in Korca is affordable with proper budgeting while 39% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Korca

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 options59%

Few low-cost options41%

Based on the survey, 59% of the students living in Korca have no problem finding low-cost alternatives to support a frugal lifestyle while 41% 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 Korca whether they have an emergency fund and the answers were as follows.

Yes61%

No39%

Based on the survey, 39% of the students living in Korca said that they don't have an emergency fund while 61% said that they do.

Financial Literacy in Albania

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 Leteracy55%

We asked student guardians and parents in Korca whether they acquired any adequate personal financial training in their lives. Approximately 45% 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 55% 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 Albania have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 36% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 64% said that they have everything under control.

Struggles with finance36%

Easily manages finances64%

Housing costs, accommodation, and housing affordability in Korca

Rent Cost in Korca

Monthly Rent Prices

Studio apartment monthly rent cost

25,000 ALL

38,000 ALL

100,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$260

$400

$1,100

1-bedroom apartment monthly rent cost

38,000 ALL

61,000 ALL

150,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$400

$640

$1,600

2-bedroom apartment monthly rent cost

51,000 ALL

76,000 ALL

200,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$530

$790

$2,100

3-bedroom apartment monthly rent cost

61,000 ALL

100,000 ALL

280,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$640

$1,100

$2,900

Furnished apartment monthly rent cost

120,000 ALL

300,000 ALL

610,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$1,300

$3,200

$6,400

Townhouse monthly rent cost

100,000 ALL

150,000 ALL

440,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$1,100

$1,600

$4,500

House monthly rent cost

120,000 ALL

300,000 ALL

610,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$1,300

$3,200

$6,400

Villa monthly rent cost

150,000 ALL

380,000 ALL

610,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$1,600

$4,000

$6,400

The monthly rental cost of a studio apartment in Korca ranges between 25,000 ALL and 100,000 ALL, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 38,000 ALL to 150,000 ALL. Two-bedroom rentals rate ranges between 51,000 ALL and 200,000 ALL per month. The monthly rental for a three-bedroom apartment ranges from 61,000 ALL to 280,000 ALL. The average rent of a townhouse in Korca is around 150,000 ALL while house rental costs can be as high as 300,000 ALL per month. Finally, if you want to rent a villa, expect to pay anywhere from 150,000 ALL to 610,000 ALL per month.

Apartment and house prices in Korca

Cost of buying a property

Studio apartment price

5.1M ALL

7.6M ALL

15M ALL

MINIMUM

AVERAGE

MAXIMUM

$53,000

$79,000

$160,000

1-bedroom apartment price

6.1M ALL

10M ALL

38M ALL

MINIMUM

AVERAGE

MAXIMUM

$64,000

$110,000

$400,000

2-bedroom apartment price

10M ALL

30M ALL

61M ALL

MINIMUM

AVERAGE

MAXIMUM

$110,000

$320,000

$640,000

3-bedroom apartment price

34M ALL

51M ALL

150M ALL

MINIMUM

AVERAGE

MAXIMUM

$350,000

$530,000

$1.6M

Townhouse price

44M ALL

100M ALL

380M ALL

MINIMUM

AVERAGE

MAXIMUM

$450,000

$1.1M

$4M

House price

51M ALL

300M ALL

440M ALL

MINIMUM

AVERAGE

MAXIMUM

$530,000

$3.2M

$4.5M

Villa price

61M ALL

340M ALL

510M ALL

MINIMUM

AVERAGE

MAXIMUM

$640,000

$3.5M

$5.3M

The average price of a studio apartment in Korca can range from 5.1M ALL to 15M ALL depending on location. One bedroom cost can be anywhere from 6.1M ALL to 38M ALL. A villa can cost you 340M ALL on average with prices ranging from 61M ALL to 510M ALL.

House / apartment prices to income ratio

Property prices in Korca can be x91 to x197 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x91 multiples of the average monthly salary in Korca.

Rent to income ratio

The average rent-to-income ratio in Korca is around 29%. This means that people pay 29% of their income for rent. Those figures can range from 19% to 40% 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 Korca

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

Utility Bill Cost / Electricity + Water + Gas / Student

910 ALL

6,000 ALL

40,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$9.5

$63

$420

Internet and cable cost

1,600 ALL

3,100 ALL

4,100 ALL

MINIMUM

AVERAGE

MAXIMUM

$16

$32

$43

Mobile phone bill and charges

1,200 ALL

2,100 ALL

6,200 ALL

MINIMUM

AVERAGE

MAXIMUM

$13

$22

$65

The average monthly energy and water consumption of students is around 6,000 ALL. The cost of internet and WiFi ranges from 1,600 ALL to 4,100 ALL with 3,100 ALL being the average internet bill. Finally, the average monthly mobile charges is around 2,100 ALL but can range between 1,200 ALL and 6,200 ALL 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 Korca is around 6.1%. This means that people pay 6.1% of their income for energy, water, internet, and mobile charges. Those figures can range from 3% to 10% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Korca

Prices and cost of goods and services in Korca

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

Fast food combo meal price

310 ALL

620 ALL

1,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$3.2

$6.5

$11

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Korca is approximatly 620 ALL with meal cost ranging from 310 ALL to 1,000 ALL. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

1,000 ALL

1,500 ALL

3,100 ALL

MINIMUM

AVERAGE

MAXIMUM

$11

$16

$32

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 1,000 ALL and 3,100 ALL with 1,500 ALL being the average price of a plate for one person at a regular restaurant in Korca.

Fine dining meal for one price

2,100 ALL

3,100 ALL

12,000 ALL

MINIMUM

AVERAGE

MAXIMUM

$21

$32

$130

The price range of a meal at fine-dining restaurant is 2,100 ALL to 12,000 ALL with the average cost being 3,100 ALL for one person. This is what you would expect to pay a top-tier diner in Korca.

Beverage prices, cappuccino, latte etc..

260 ALL

410 ALL

620 ALL

MINIMUM

AVERAGE

MAXIMUM

$2.7

$4.3

$6.5

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Korca is around 410 ALL. Price ranges between 260 ALL and 620 ALL depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

210 ALL

250 ALL

310 ALL

MINIMUM

AVERAGE

MAXIMUM

$2.2

$2.6

$3.2

The average price of a large bottle of milk in Korca is 250 ALL. The maximum what you would pay for milk is 310 ALL and the minimum being 210 ALL depending on the brand of milk and other properties.

12 eggs price

160 ALL

210 ALL

310 ALL

MINIMUM

AVERAGE

MAXIMUM

$1.6

$2.2

$3.2

A dozen eggs costs around 210 ALL on average with 160 ALL and 310 ALL being the lower and upper limits respectively.

Fresh whole chicken price

350 ALL

460 ALL

650 ALL

MINIMUM

AVERAGE

MAXIMUM

$3.7

$4.8

$6.7

The price range of a fresh whole chicken in Korca is between 350 ALL and 650 ALL depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 460 ALL.

Pack of beef price

410 ALL

620 ALL

1,200 ALL

MINIMUM

AVERAGE

MAXIMUM

$4.3

$6.5

$13

The price of a regular pack of beef or meat is around 620 ALL. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

170 ALL

230 ALL

320 ALL

MINIMUM

AVERAGE

MAXIMUM

$1.7

$2.4

$3.4

A bag of rice in Korca costs around 230 ALL on average with prices rangeing between 170 ALL and 320 ALL depending on the brand and quality.

Bag of tomatos price

62 ALL

83 ALL

160 ALL

MINIMUM

AVERAGE

MAXIMUM

$0.65

$0.86

$1.6

A bag of tomatoes costs anywhere from 62 ALL to 160 ALL. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

110 ALL

150 ALL

240 ALL

MINIMUM

AVERAGE

MAXIMUM

$1.2

$1.5

$2.5

A bag of apples costs 150 ALL 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 Korca is around 27%. This means that students spend 27% of their income on grocery and basic household items. The expenditure can range from 19% to 34% depending on salary and location.

Expenditure on food and grocery for students