Cost Of Living For a Student in Mumbai 2025
Average Monthly Expenditure
Currency: INR
Average monthly spending for students in Mumbai
How much money does a student need in a month to survive in Mumbai?
Students in Mumbai spend around 47,000 INR per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 7,000 INR or as high as 520,000 INR. Location is a very important factor and has a huge influence on expenditure and budget.
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.
Monthly costs and expenses of energy and basic utilities in Mumbai
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Mumbai
Utility Bill Cost / Electricity + Water + Gas / Student
| 250 INR | 1,700 INR | 19,000 INR |
Internet and cable cost
| 410 INR | 830 INR | 1,100 INR |
Mobile phone bill and charges
| 270 INR | 450 INR | 1,400 INR |
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 1,700 INR. The cost of internet and WiFi ranges from 410 INR to 1,100 INR with 830 INR being the average internet bill. Finally, the average monthly mobile charges is around 450 INR but can range between 270 INR and 1,400 INR 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 Mumbai is around 7.1%. This means that people pay 7.1% of their income for energy, water, internet, and mobile charges. Those figures can range from 3.5% to 12% depending on salary and location.
Prices and cost of goods and services in Mumbai
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
| 530 INR | 790 INR | 3,200 INR |
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
| 400 INR | 530 INR | 1,100 INR |
Average car 1-day rental
Average car price
| 190,000 INR | 380,000 INR | 510,000 INR |
Bus ticket one way
Car Service
| 520 INR | 770 INR | 1,500 INR |
Utility cost (monthly)
Utility Bill - Student
| 250 INR | 1,700 INR | 19,000 INR |
Internet and cable
| 410 INR | 830 INR | 1,100 INR |
Mobile phone charges
| 270 INR | 450 INR | 1,400 INR |
Leisure and activities costs
Movie ticket
One month gym membership
| 650 INR | 810 INR | 1,600 INR |
Cloths and accessories costs
Pair of jeans or pants
| 490 INR | 690 INR | 1,000 INR |
Woman dress
| 470 INR | 650 INR | 2,100 INR |
Woman shoes
| 420 INR | 570 INR | 1,300 INR |
Men's shoes
Men suit
| 410 INR | 520 INR | 2,800 INR |
Regular t-shirt
Housing costs / monthly rent
Studio apartment
| 7,600 INR | 11,000 INR | 30,000 INR |
1-bedroom apartment
| 12,000 INR | 19,000 INR | 47,000 INR |
2-bedroom apartment
| 16,000 INR | 24,000 INR | 64,000 INR |
Housing costs / Buying
Studio apartment
| 1.6M INR | 2.4M INR | 4.8M INR |
1-bedroom apartment
2-bedroom apartment
| $37,000 | $110,000 | $220,000 |
Furniture Costs
King Size Bed
| 7,800 INR | 9,800 INR | 13,000 INR |
Double Bed
| 5,400 INR | 8,000 INR | 10,000 INR |
Single Bed
| 4,800 INR | 6,300 INR | 8,200 INR |
Living Room
| 9,400 INR | 12,000 INR | 42,000 INR |
Dining Table
| 3,900 INR | 5,200 INR | 9,800 INR |
Sofa or Couch
| 5,400 INR | 7,300 INR | 16,000 INR |
Electronics and House Appliance Costs
TV Set
| 5,400 INR | 8,100 INR | 16,000 INR |
Fridge or Freezer
| 4,900 INR | 7,500 INR | 10,000 INR |
Washing Machine
| 5,900 INR | 8,500 INR | 15,000 INR |
Stove or Cooker
| 5,600 INR | 7,200 INR | 9,800 INR |
Mobile Phone
| 6,700 INR | 8,100 INR | 12,000 INR |
Laptop or Computer
| 7,500 INR | 9,200 INR | 17,000 INR |
How do students spend their money in Mumbai?
We asked thousands of students about their spending habits and expenditure break down.
Housing and accomodation expenditure for students
Accomodation Cost18%
18% of total expenses on average (13% to 24%)
| LOW | $20 1,700 INR |
| AVERAGE | $140 11,000 INR |
| HIGH | $1,500 130,000 INR |
| Per Month |
Students in Mumbai typically spend from 13% to 24% of their total monthly expenditure on housing with 18% being the average. The average monthly spend on housing is 11,000 INR with expenditure ranging from 1,700 INR to 130,000 INR. 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 utilities7%
7% of total expenses on average (5% to 11%)
| LOW | $3 250 INR |
| AVERAGE | $20 1,700 INR |
| HIGH | $220 19,000 INR |
| Per Month |
Utility expenditure like electricity, water, and gas in Mumbai ranges from 5% to 11% of total expenses with 7% being the average for most students. The average monthly cost of utilities is 1,700 INR with 250 INR and 19,000 INR being the upper and lower limits for a student of four.
Transport, fuel, and commute expenditure for students
Cost of transport and fuel4%
4% of total expenses on average (4% to 10%)
| LOW | $5.7 470 INR |
| AVERAGE | $38 3,100 INR |
| HIGH | $420 35,000 INR |
| 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 470 INR to 35,000 INR in a month on commuting with 3,100 INR 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
Food and Groceries Cost23%
23% of total expenses on average (17% to 27%)
| LOW | $16 1,300 INR |
| AVERAGE | $110 8,800 INR |
| HIGH | $1,200 97,000 INR |
| Per Month |
The average outlay on groceries and basic houshold items for a typical student in a month in Mumbai is 8,800 INR. The cost of groceries can range between 1,300 INR to 97,000 INR. 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
Cost of healthcare9%
9% of total expenses on average (6% to 12%)
| LOW | $4.2 350 INR |
| AVERAGE | $28 2,300 INR |
| HIGH | $310 26,000 INR |
| Per Month |
Students in Mumbai 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 350 INR to 26,000 INR with 2,300 INR being the norm for most students.
Leisure and shopping expenditure for students
Cost of leisure and shopping2%
2% of total expenses on average (2% to 6%)
| LOW | $4 330 INR |
| AVERAGE | $26 2,200 INR |
| HIGH | $290 24,000 INR |
| 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 330 INR to 24,000 INR with 2,200 INR being the average. Speaking of percentages, that equates to 2% to 6% of total expenses with an average of 2% for most students.
Education and schooling expenditure for students
Cost of education and schooling18%
18% of total expenses on average (11% to 23%)
| LOW | $15 1,200 INR |
| AVERAGE | $100 8,300 INR |
| HIGH | $1,100 93,000 INR |
| Per Month |
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 8,300 INR per month with 1,200 INR being the minimum spent amount and 93,000 INR being the maximum.
Other Expenses19%
19% of total expenses on average (13% to 25%)
| LOW | $12 1,000 INR |
| AVERAGE | $83 6,900 INR |
| HIGH | $920 77,000 INR |
| Per Month |
Low-cost alternatives in Mumbai
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 options56%
Few low-cost options44%
Based on the survey, 56% of the students living in Mumbai have no problem finding low-cost alternatives to support a frugal lifestyle while 44% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
Affordable living in Mumbai
Income and cost of living compatibility
We asked students one simple question and recorded their answers.
Is it affordable or economical to live in Mumbai?
Around 49% of surveyed students think that living in Mumbai is affordable with proper budgeting while 51% reported that it is just too expensive and not affordable even with frugality and thriftness.
Financial Literacy in
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 Leteracy44%
We asked student guardians and parents in Mumbai whether they acquired any adequate personal financial training in their lives. Approximately 56% 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 44% 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 have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 46% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 54% said that they have everything under control.
Struggles with finance46%
Easily manages finances54%
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 whether they have an emergency fund and the answers were as follows.
Yes49%
No51%
Based on the survey, 51% of the students living in Mumbai said that they don't have an emergency fund while 49% said that they do.
Housing costs, accommodation, and housing affordability in Mumbai
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Mumbai
Monthly Rent Prices
Studio apartment monthly rent cost
| 7,600 INR | 11,000 INR | 30,000 INR |
1-bedroom apartment monthly rent cost
| 12,000 INR | 19,000 INR | 47,000 INR |
2-bedroom apartment monthly rent cost
| 16,000 INR | 24,000 INR | 64,000 INR |
3-bedroom apartment monthly rent cost
| 20,000 INR | 33,000 INR | 89,000 INR |
Furnished apartment monthly rent cost
| 37,000 INR | 93,000 INR | 190,000 INR |
Townhouse monthly rent cost
| 31,000 INR | 46,000 INR | 130,000 INR |
House monthly rent cost
| 38,000 INR | 94,000 INR | 190,000 INR |
Villa monthly rent cost
| 46,000 INR | 110,000 INR | 180,000 INR |
The monthly rental cost of a studio apartment in Mumbai ranges between 7,600 INR and 30,000 INR, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 12,000 INR to 47,000 INR. Two-bedroom rentals rate ranges between 16,000 INR and 64,000 INR per month. The monthly rental for a three-bedroom apartment ranges from 20,000 INR to 89,000 INR. The average rent of a townhouse in Mumbai is around 46,000 INR while house rental costs can be as high as 94,000 INR per month. Finally, if you want to rent a villa, expect to pay anywhere from 46,000 INR to 180,000 INR per month.
Apartment and house prices in Mumbai
Cost of buying a property
Studio apartment price
| 1.6M INR | 2.4M INR | 4.8M INR |
1-bedroom apartment price
2-bedroom apartment price
| $37,000 | $110,000 | $220,000 |
3-bedroom apartment price
| $130,000 | $190,000 | $560,000 |
Townhouse price
House price
Villa price
| 20M INR | 110M INR | 160M INR |
The average price of a studio apartment in Mumbai can range from 1.6M INR to 4.8M INR depending on location. One bedroom cost can be anywhere from 2M INR to 12M INR. A villa can cost you 110M INR on average with prices ranging from 20M INR to 160M INR.
If you're leasing or purchasing, housing costs in Mumbai 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
| 45 | x128 monthly income | 267 |
Property prices in Mumbai can be x128 to x267 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x128 multiples of the average monthly salary in Mumbai.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Mumbai is around 35%. This means that people pay 35% of their income for rent. Those figures can range from 23% 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
27% 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.
| 140 INR | 1,400 INR | 21,000 INR |
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.
Food Prices, Dining Expenses, and Grocery Costs in Mumbai
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Mumbai
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 Mumbai is approximatly 160 INR with meal cost ranging from 79 INR to 260 INR. 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 280 INR and 830 INR with 410 INR being the average price of a plate for one person at a regular restaurant in Mumbai.
Fine dining meal for one price
| 530 INR | 790 INR | 3,200 INR |
The price range of a meal at fine-dining restaurant is 530 INR to 3,200 INR with the average cost being 790 INR for one person. This is what you would expect to pay a top-tier diner in Mumbai.
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 Mumbai is around 110 INR. Price ranges between 68 INR and 160 INR 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 Mumbai is 66 INR. The maximum what you would pay for milk is 83 INR and the minimum being 55 INR depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 52 INR on average with 39 INR and 79 INR being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Mumbai is between 94 INR and 170 INR depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 120 INR.
Pack of beef price
The price of a regular pack of beef or meat is around 170 INR. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Mumbai costs around 57 INR on average with prices rangeing between 42 INR and 81 INR depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 16 INR to 40 INR. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 38 INR on average. A bag of apples denotes 1Kg or 1lb depending on location.
Expenditure on food and grocery for students
Students' spending on grocery ranges from 1,300 INR to 97,000 INR with the location, income, and size of the student being the most determinite factors.
Published: August 30, 2024 Last Update: March 19, 2025
