Cost Of Living in Sweden 2025
Average monthly spending for singles, couples, students, and families in Sweden
Whether you're living in Sweden 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 Expenditure
Currency: SEK
Monthly Expenditure ▶ Single
Currency: SEK
Monthly Expenditure ▶ Couple
Currency: SEK
Monthly Expenditure ▶ Family
Currency: SEK
Monthly Expenditure ▶ Student
Currency: SEK
Expenditure to Income Ratio in Sweden
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
81%
72% to 91%
( expenditure / income ) x 100
Expense to income distribution levels
| Spending To Income Ratio | % People |
|---|
| < 50% | 7% |
| 50% - 60% | 13% |
| 60% - 70% | 20% |
| 70% - 80% | 28% |
| 80% - 90% | 12% |
| 90% - 100% | 8% |
| 100% - 110% | 4% |
| 110% - 120% | 3% |
| 120% - 130% | 2% |
| 130% - 140% | 1% |
| > 140% | 1% |
Interpretation and Analysis
The average spending-to-salary ratio in Sweden is 81%
This means that on average, people spend around 81% of their income for living.
According to the distribution table, 20% 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
73%
Spending-Income-Ratio
65%
82%
Couple
77%
Spending-Income-Ratio
68%
87%
Family
85%
Spending-Income-Ratio
76%
96%
StudentCost of living and expenses break down for students living in Sweden
Housing costs for Student23%
23% of total expenses on average (18% to 29%)
| LOW | $74 770 SEK |
| AVERAGE | $480 5,000 SEK |
| HIGH | $3,200 33,000 SEK |
| Per Month |
Utilities, Electricity, Water, Internet, and Mobile Expenses4%
4% of total expenses on average (2% to 8%)
| LOW | $12 130 SEK |
| AVERAGE | $79 830 SEK |
| HIGH | $530 5,500 SEK |
| Per Month |
Transport and Fuel Cost7%
7% of total expenses on average (6% to 13%)
| LOW | $21 220 SEK |
| AVERAGE | $140 1,400 SEK |
| HIGH | $930 9,600 SEK |
| Per Month |
Food and Groceries Expenditure20%
20% of total expenses on average (14% to 24%)
| LOW | $61 640 SEK |
| AVERAGE | $400 4,100 SEK |
| HIGH | $2,600 28,000 SEK |
| Per Month |
Healthcare Cost6%
6% of total expenses on average (3% to 9%)
| LOW | $18 190 SEK |
| AVERAGE | $120 1,200 SEK |
| HIGH | $790 8,300 SEK |
| Per Month |
Leisure and Shopping Cost5%
5% of total expenses on average (3% to 9%)
| LOW | $15 160 SEK |
| AVERAGE | $99 1,000 SEK |
| HIGH | $660 6,900 SEK |
| Per Month |
Education Cost19%
19% of total expenses on average (12% to 24%)
| LOW | $58 610 SEK |
| AVERAGE | $380 3,900 SEK |
| HIGH | $2,500 26,000 SEK |
| Per Month |
Other Expenses16%
16% of total expenses on average (10% to 22%)
| LOW | $46 480 SEK |
| AVERAGE | $300 3,100 SEK |
| HIGH | $2,000 21,000 SEK |
| Per Month |
Typical saving choices for people in Sweden
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 9% |
| Gold | 8% |
| Savings Accounts | 18% |
| Retirement Accounts | 13% |
| Cash Savings | 12% |
| Real Estate | 11% |
| Investment | 7% |
| Stocks | 7% |
| Bonds | 8% |
| Mutual Funds | 4% |
| Certificates of Deposit | 4% |
How do people spend their money in Sweden?
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 Expenditure29%
29% of total expenses on average (18% to 37%)
| LOW | $92 960 SEK |
| AVERAGE | $1,200 12,000 SEK |
| HIGH | $12,000 120,000 SEK |
| Per Month |
People living in Sweden typically spend from 18% to 37% of their total monthly expenditure on housing with 29% being the average. The average spend on housing is 12,000 SEK with expenditure ranging from 960 SEK to 120,000 SEK. 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, Water, Internet, Mobile5%
5% of total expenses on average (2% to 9%)
| LOW | $15 160 SEK |
| AVERAGE | $200 2,100 SEK |
| HIGH | $2,000 21,000 SEK |
| Per Month |
Utility expenditure like electricity, water, and gas in Sweden ranges from 2% to 9% of total expenses with 5% being the average. The average monthly cost of utilities is 2,100 SEK with 160 SEK and 21,000 SEK being the upper and lower limits.
Transport, Fuel, Commute10%
10% of total expenses on average (5% to 14%)
| LOW | $31 320 SEK |
| AVERAGE | $400 4,200 SEK |
| HIGH | $4,000 42,000 SEK |
| 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 320 SEK to 42,000 SEK on commuting with 4,200 SEK being the norm for most people in one month. This means that money spent on transport constitutes about 10% of total spending on average but can go as low as 5% or as high as 14%.
Food and Groceries Cost25%
25% of total expenses on average (17% to 31%)
| LOW | $77 800 SEK |
| AVERAGE | $1,000 10,000 SEK |
| HIGH | $10,000 100,000 SEK |
| Per Month |
The average outlay on groceries in a month in Sweden is 10,000 SEK. The cost of groceries can range between 800 SEK to 100,000 SEK. People spend on average about 25% on food and groceries with upper and lower bounds of 17% and 31% respectively.
Healthcare and Medical Services7%
7% of total expenses on average (2% to 10%)
| LOW | $21 220 SEK |
| AVERAGE | $280 2,900 SEK |
| HIGH | $2,800 29,000 SEK |
| Per Month |
People in Sweden allocate 2% to 10% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 7%. The range of medical expenses range from 220 SEK to 29,000 SEK with 2,900 SEK being the norm.
Leisure and Shopping7%
7% of total expenses on average (3% to 11%)
| LOW | $12 130 SEK |
| AVERAGE | $160 1,700 SEK |
| HIGH | $1,600 17,000 SEK |
| 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 130 SEK to 17,000 SEK with 1,700 SEK being the average. Speaking of percentages, that equates to 3% to 11% of total expenses with an average of 7% for most residents.
Education and Schooling6%
6% of total expenses on average (4% to 12%)
| LOW | $18 190 SEK |
| AVERAGE | $240 2,500 SEK |
| HIGH | $2,400 25,000 SEK |
| 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 2,500 SEK per month with 190 SEK being the minimum spent amount and 25,000 SEK being the maximum.
Other Expenses11%
11% of total expenses on average (6% to 18%)
| LOW | $40 420 SEK |
| AVERAGE | $520 5,400 SEK |
| HIGH | $5,200 54,000 SEK |
| Per Month |
Debt, loans, and mortgages in Sweden
Percentage of people who are in debt
According to the survey, 29% of the people in Sweden have some kind of debt, loan, mortgage, or credit card payments while 71% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Sweden
Debt to income ratio
26%
16% to 36%
( 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 26% of the people's monthly income in Sweden goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 2% |
| 50% - 60% | 7% |
| 40% - 50% | 9% |
| 30% - 40% | 11% |
| 20% - 30% | 19% |
| 10% - 20% | 23% |
| 0% - 10% | 29% |
According to our data, 2% of the debtors in Sweden pay 60%+ of their income as debt settlement while 7% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 9% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 11% dedicated 30% to 40% of income for same. Things are looking brighter for 19% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Sweden
| Debt | % People |
|---|
| Real Estate Mortgage | 17% |
| Auto Loan | 28% |
| Student Loan | 2% |
| Credit Card | 21% |
| Personal Loan | 32% |
17% of debtors in Sweden confirm that real estate mortgages constitutes the main part of their outstanding debt while 21% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 28% of people and personal loans rose at 32%. Lastly, student loans are the main source of debt for 2% of debtors in Sweden.
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 Sweden
Besides measuring the loan-to-income ratio, we asked residents 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 | 59% |
| Once a year | 21% |
| Twice a year | 10% |
| Three times a year | 7% |
| Four times a year | 3% |
How much money can you save in Sweden 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 Sweden manage to save money from their income every month?
Almost 65% of the surveyed people in Sweden said that they can save some money at the end of each month while 35% said that aren't saving anything.
Percentage of people saving money by population group in Sweden
| Group | Savers | Non Savers |
|---|
| Singles | 73% | 27% |
| Couples | 68% | 32% |
| Families | 63% | 37% |
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
1,300 SEK
$130 | 17,000 SEK
$1,600 | 170,000 SEK
$16,000 |
For most people, 14% to 34% 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 17,000 SEK on average with savings ranging from 1,300 SEK to 170,000 SEK.
73% of surveyed singles reported some of their income going to savings while 68% of couples said the same. 63% of families confirmed their ability to save money.
How much money do people actually save in Sweden?
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
1,300 SEK
$130 | 12,000 SEK
$1,100 | 78,000 SEK
$7,500 |
Savings to income distribution levels for singles
| Saving To Income Ratio | % Singles |
|---|
| 0% - 10% | 26% |
| 10% - 20% | 21% |
| 20% - 30% | 15% |
| 30% - 40% | 19% |
| 40% - 50% | 14% |
| > 50% | 5% |
Interpretation and Analysis
Singles who can afford to save reported that they allocate from 17% to 36% 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 12,000 SEK with 1,300 SEK and 78,000 SEK being the minimum and maximum respectively.
Couples
Saving to Income Ratio
Average Monthly Saved Amount
6,500 SEK
$630 | 20,000 SEK
$1,900 | 100,000 SEK
$10,000 |
Savings to income distribution levels for couples
| Saving To Income Ratio | % Couples |
|---|
| 0% - 10% | 30% |
| 10% - 20% | 23% |
| 20% - 30% | 18% |
| 30% - 40% | 14% |
| 40% - 50% | 11% |
| > 50% | 4% |
Interpretation and Analysis
Couples who confirmed their ability to save reported saving equivalent to 15% to 35% of their monthly income, with 25% being the average for most couples. The average amount of money that couples can save is 20,000 SEK with 6,500 SEK and 100,000 SEK being the minimum and maximum respectively.
Families
Saving to Income Ratio
Average Monthly Saved Amount
9,100 SEK
$880 | 26,000 SEK
$2,500 | 170,000 SEK
$16,000 |
Savings to income distribution levels for families
| Saving To Income Ratio | % Families |
|---|
| 0% - 10% | 33% |
| 10% - 20% | 26% |
| 20% - 30% | 19% |
| 30% - 40% | 11% |
| 40% - 50% | 8% |
| > 50% | 3% |
Interpretation and Analysis
Families in Sweden can save anywhere between 13% to 31% of their monthly income, with 22% being the average for most families. The average amount of money that families can put aside is 26,000 SEK with 9,100 SEK and 170,000 SEK being the minimum and maximum respectively.
Saving Challenges in Sweden
Reasons that make it difficult for people to save money
We wanted to understand what is stopping people from maximizing their savings in Sweden. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 8% |
| High Expenses | 11% |
| Debt and Loans | 22% |
| Lack of Budgeting Skills | 9% |
| Impulsive Spending | 8% |
| Financial Emergencies | 5% |
| Living the moment | 8% |
| Will do it later | 14% |
| Inflation | 9% |
| Social Pressure | 4% |
| Market Instability | 4% |
Around 8% of the people said that their salary is too low to accommodate a portion for savings while 11% said that the high cost of living leaves little room for savings. 22% of the residents said that they are burdened with debt and find it challenging to save money. 9% 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. 8% blamed impulsive spending as the reason for saving inability. Around 5% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 8% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 14% 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. 9% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 4% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 4% blamed market instability and price fluctuations.
Prices and cost of goods and services in Sweden
Dining, food, and beverages costs
Fast food combo meal
Restaurant meal for one
Fine dining meal for one
| 300 SEK | 450 SEK | 1,800 SEK |
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
| 110,000 SEK | 230,000 SEK | 300,000 SEK |
Bus ticket one way
Car Service
Utility cost (monthly)
Utility Bill - Individual
| 250 SEK | 1,700 SEK | 11,000 SEK |
Utility Bill - Couple
| 640 SEK | 2,200 SEK | 14,000 SEK |
Utility Bill - Family
| 1,100 SEK | 3,200 SEK | 21,000 SEK |
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
| 250 SEK | 350 SEK | 1,100 SEK |
Woman shoes
Men's shoes
Men suit
| 230 SEK | 280 SEK | 1,500 SEK |
Regular t-shirt
Housing costs / monthly rent
Studio apartment
| 3,800 SEK | 5,600 SEK | 15,000 SEK |
1-bedroom apartment
| 5,600 SEK | 9,000 SEK | 23,000 SEK |
2-bedroom apartment
| 7,500 SEK | 11,000 SEK | 30,000 SEK |
Housing costs / Buying
Studio apartment
| 750,000 SEK | 1.1M SEK | 2.3M SEK |
| $72,000 | $110,000 | $220,000 |
1-bedroom apartment
| 900,000 SEK | 1.5M SEK | 5.6M SEK |
| $87,000 | $140,000 | $540,000 |
2-bedroom apartment
| $140,000 | $430,000 | $870,000 |
Furniture Costs
King Size Bed
| 4,500 SEK | 5,600 SEK | 7,500 SEK |
Double Bed
| 3,000 SEK | 4,500 SEK | 5,600 SEK |
Single Bed
| 2,600 SEK | 3,500 SEK | 4,500 SEK |
Living Room
| 5,000 SEK | 6,400 SEK | 23,000 SEK |
Dining Table
| 2,300 SEK | 3,000 SEK | 5,600 SEK |
Sofa or Couch
| 3,000 SEK | 4,100 SEK | 9,000 SEK |
Electronics and House Appliance Costs
TV Set
| 3,000 SEK | 4,500 SEK | 9,000 SEK |
Fridge or Freezer
| 2,600 SEK | 4,100 SEK | 5,600 SEK |
Washing Machine
| 3,500 SEK | 5,000 SEK | 9,000 SEK |
Stove or Cooker
| 3,200 SEK | 4,100 SEK | 5,600 SEK |
Mobile Phone
| 3,800 SEK | 4,500 SEK | 6,400 SEK |
Laptop or Computer
| 4,100 SEK | 5,000 SEK | 9,000 SEK |
Low-cost alternatives in Sweden
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 options60%
Few low-cost options40%
Based on the survey, 60% of the people living in Sweden have no problem finding low-cost alternatives to support a frugal lifestyle while 40% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
Monthly costs and expenses of energy and basic utilities in Sweden
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Sweden
Utility Bill Cost / Electricity + Water + Gas / Individual
| 250 SEK | 1,700 SEK | 11,000 SEK |
Utility Bill Cost / Electricity + Water + Gas / Couple
| 640 SEK | 2,200 SEK | 14,000 SEK |
Utility Bill Cost / Electricity + Water + Gas / Family
| 1,100 SEK | 3,200 SEK | 21,000 SEK |
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 expenditure for individuals on electricty, water, and gas in Sweden ranges between 250 SEK and 11,000 SEK with average being 1,700 SEK, meanwhile the expenditure of couples is slightly higher at 2,200 SEK with 640 SEK and 14,000 SEK being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 3,200 SEK. The cost of internet and WiFi is unchanged among the three groups and ranges from 230 SEK to 600 SEK with 450 SEK being the average internet bill. Finally, the average monthly mobile charges is around 300 SEK but can range between 180 SEK and 900 SEK 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 Sweden is around 4%. This means that people pay 4% of their income for energy, water, internet, and mobile charges. Those figures can range from 1% to 8% depending on salary and location.
Housing costs, accommodation, and housing affordability in Sweden
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Sweden
Monthly Rent Prices
Studio apartment monthly rent cost
| 3,800 SEK | 5,600 SEK | 15,000 SEK |
1-bedroom apartment monthly rent cost
| 5,600 SEK | 9,000 SEK | 23,000 SEK |
2-bedroom apartment monthly rent cost
| 7,500 SEK | 11,000 SEK | 30,000 SEK |
3-bedroom apartment monthly rent cost
| 9,000 SEK | 15,000 SEK | 41,000 SEK |
Furnished apartment monthly rent cost
| 18,000 SEK | 45,000 SEK | 90,000 SEK |
Townhouse monthly rent cost
| 15,000 SEK | 23,000 SEK | 64,000 SEK |
House monthly rent cost
| 18,000 SEK | 45,000 SEK | 90,000 SEK |
Villa monthly rent cost
| 23,000 SEK | 56,000 SEK | 90,000 SEK |
The monthly rental cost of a studio apartment in Sweden ranges between 3,800 SEK and 15,000 SEK, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 5,600 SEK to 23,000 SEK. Two-bedroom rentals rate ranges between 7,500 SEK and 30,000 SEK per month. The monthly rental for a three-bedroom apartment ranges from 9,000 SEK to 41,000 SEK. The average rent of a townhouse in Sweden is around 23,000 SEK while house rental costs can be as high as 45,000 SEK per month. Finally, if you want to rent a villa, expect to pay anywhere from 23,000 SEK to 90,000 SEK per month.
Apartment and house prices in Sweden
Cost of buying a property
Studio apartment price
| 750,000 SEK | 1.1M SEK | 2.3M SEK |
| $72,000 | $110,000 | $220,000 |
1-bedroom apartment price
| 900,000 SEK | 1.5M SEK | 5.6M SEK |
| $87,000 | $140,000 | $540,000 |
2-bedroom apartment price
| $140,000 | $430,000 | $870,000 |
3-bedroom apartment price
Townhouse price
House price
Villa price
The average price of a studio apartment in Sweden can range from 750,000 SEK to 2.3M SEK depending on location. One bedroom cost can be anywhere from 900,000 SEK to 5.6M SEK. A villa can cost you 50M SEK on average with prices ranging from 9M SEK to 75M SEK.
If you're leasing or purchasing, housing costs in Sweden 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
| 47 | x140 monthly income | 224 |
Property prices in Sweden can be x140 to x224 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x140 multiples of the average monthly salary in Sweden.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Sweden is around 34%. This means that people pay 34% of their income for rent. Those figures can range from 24% to 44% 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
32% 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.
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 whether they have an emergency fund and the answers were as follows.
Yes72%
No28%
Based on the survey, 28% of the people living in Sweden said that they don't have an emergency fund while 72% said that they do.
Financial goals of people in Sweden
In an attempt to understand the economic situation in Sweden, 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 | 5% |
| Debt Reduction | 26% |
| Retirement Savings | 6% |
| Education Funding | 10% |
| Homeownership | 15% |
| Investing | 10% |
| Travel or Lifestyle | 14% |
| Healthcare Expenses | 5% |
| Financial Independence | 11% |
Around 5% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 26% said their number one priority is to pay off high-interest debt or loans and improve credit. 6% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 10% reported that their priority is saving for the tuition fees and education costs of their children while 15% choose to buy a home or pay off existing mortgage before other things. 10% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 14% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 5% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Retirement, pension plans, and life after work in Sweden
What does the retirement lifestyle look like in Sweden and how much retirement savings are required?
Retirement age
The retirement age for most employees in 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 Sweden:| Age | Amount |
|---|
| 25 | 120,000 SEK |
| 30 | 230,000 SEK |
| 35 | 410,000 SEK |
| 40 | 590,000 SEK |
| 45 | 880,000 SEK |
| 50 | 1.2M SEK |
| 55 | 1.5M SEK |
| 60 | 1.8M SEK |
| 65 | 2.2M SEK |
Retirement Income Distribution
We asked residents about their retirement income sources and below are the results.
| Source | % People |
|---|
| Pensions | 15% |
| Savings | 20% |
| Investments | 15% |
| Social Security | 10% |
| Annuities | 10% |
| Part-time Job | 6% |
| Real Estate | 15% |
| Dividends and Interest | 10% |
Retirement Monthly Expenses in Sweden 2,300 SEK
$220 | 21,000 SEK
$2,000 | 140,000 SEK
$13,000 |
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 Leteracy71%
We asked residents of 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 residents 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? 31% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 69% said that they have everything under control.
Struggles with finance31%
Easily manages finances69%
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 Sweden
Income and cost of living compatibility
We asked residents one simple question and recorded their answers.
Is it affordable or economical to live in Sweden?
Around 76% of surveyed residents think that living in Sweden is affordable with proper budgeting while 24% reported that it is just too expensive and not affordable even with frugality and thriftness.
Food Prices, Dining Expenses, and Grocery Costs in Sweden
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Sweden
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 Sweden is approximatly 90 SEK with meal cost ranging from 45 SEK to 150 SEK. 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 150 SEK and 450 SEK with 230 SEK being the average price of a plate for one person at a regular restaurant in Sweden.
Fine dining meal for one price
| 300 SEK | 450 SEK | 1,800 SEK |
The price range of a meal at fine-dining restaurant is 300 SEK to 1,800 SEK with the average cost being 450 SEK for one person. This is what you would expect to pay a top-tier diner in Sweden.
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 Sweden is around 60 SEK. Price ranges between 38 SEK and 90 SEK 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 Sweden is 36 SEK. The maximum what you would pay for milk is 45 SEK and the minimum being 30 SEK depending on the brand of milk and other properties.
12 eggs price
A dozen eggs costs around 30 SEK on average with 23 SEK and 45 SEK being the lower and upper limits respectively.
Fresh whole chicken price
The price range of a fresh whole chicken in Sweden is between 51 SEK and 94 SEK depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 66 SEK.
Pack of beef price
The price of a regular pack of beef or meat is around 90 SEK. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
A bag of rice in Sweden costs around 33 SEK on average with prices rangeing between 24 SEK and 47 SEK depending on the brand and quality.
Bag of tomatos price
A bag of tomatoes costs anywhere from 9 SEK to 23 SEK. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
A bag of apples costs 21 SEK 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 Sweden is around 24%. This means that people spend 24% of their income on grocery and basic household items. The expenditure can range from 16% to 30% depending on salary and location.
Expenditure on food and grocery for every population group
A single person living alone spends approximately 4,600 SEK per month on grocery and food with expenditure fluctuating between 650 SEK and 31,000 SEK depending on location and the type of person. The average cost of food and groceries for a couple is around 6,700 SEK per month. That number can be get as low as 2,200 SEK or a high as 36,000 SEK. Families' spending on grocery ranges from 4,000 SEK to 75,000 SEK with the location, income, and size of the family being the most determinite factors.
SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Sweden
Housing cost for a single person35%
35% of total expenses on average (23% to 47%)
| LOW | $140 1,500 SEK |
| AVERAGE | $1,000 10,000 SEK |
| HIGH | $6,600 69,000 SEK |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile6%
6% of total expenses on average (2% to 11%)
| LOW | $24 250 SEK |
| AVERAGE | $170 1,700 SEK |
| HIGH | $1,100 11,000 SEK |
| Per Month |
Transport and Fuel Cost8%
8% of total expenses on average (6% to 14%)
| LOW | $31 330 SEK |
| AVERAGE | $220 2,300 SEK |
| HIGH | $1,500 15,000 SEK |
| Per Month |
Food and Groceries Cost16%
16% of total expenses on average (10% to 21%)
| LOW | $63 650 SEK |
| AVERAGE | $440 4,600 SEK |
| HIGH | $2,900 31,000 SEK |
| Per Month |
Healthcare Cost9%
9% of total expenses on average (3% to 13%)
| LOW | $35 370 SEK |
| AVERAGE | $250 2,600 SEK |
| HIGH | $1,700 17,000 SEK |
| Per Month |
Leisure and Shopping Expenditure5%
5% of total expenses on average (4% to 8%)
| LOW | $20 200 SEK |
| AVERAGE | $140 1,400 SEK |
| HIGH | $920 9,600 SEK |
| Per Month |
Education Cost2%
2% of total expenses on average (1% to 4%)
| LOW | $7.9 82 SEK |
| AVERAGE | $55 570 SEK |
| HIGH | $370 3,800 SEK |
| Per Month |
Other Expenses19%
19% of total expenses on average (11% to 23%)
| LOW | $71 740 SEK |
| AVERAGE | $500 5,200 SEK |
| HIGH | $3,300 34,000 SEK |
| Per Month |
FamilyAverage monthly expenses and break out of spending for families living in Sweden
Housing cost for a family31%
31% of total expenses on average (26% to 41%)
| LOW | $690 7,200 SEK |
| AVERAGE | $2,000 20,000 SEK |
| HIGH | $13,000 130,000 SEK |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile3%
3% of total expenses on average (1% to 6%)
| LOW | $110 1,100 SEK |
| AVERAGE | $310 3,200 SEK |
| HIGH | $2,000 21,000 SEK |
| Per Month |
Transport and Fuel Expenses8%
8% of total expenses on average (6% to 10%)
| LOW | $210 2,200 SEK |
| AVERAGE | $610 6,400 SEK |
| HIGH | $4,000 42,000 SEK |
| Per Month |
Food and Groceries Cost18%
18% of total expenses on average (11% to 24%)
| LOW | $390 4,000 SEK |
| AVERAGE | $1,100 11,000 SEK |
| HIGH | $7,200 75,000 SEK |
| Per Month |
Healthcare Expenses8%
8% of total expenses on average (4% to 13%)
| LOW | $190 2,000 SEK |
| AVERAGE | $610 6,400 SEK |
| HIGH | $3,200 33,000 SEK |
| Per Month |
Leisure and Shopping Cost5%
5% of total expenses on average (3% to 9%)
| LOW | $110 1,100 SEK |
| AVERAGE | $310 3,200 SEK |
| HIGH | $2,000 21,000 SEK |
| Per Month |
Education Cost14%
14% of total expenses on average (7% to 22%)
| LOW | $300 3,100 SEK |
| AVERAGE | $860 8,900 SEK |
| HIGH | $5,600 58,000 SEK |
| Per Month |
Other Expenses13%
13% of total expenses on average (6% to 18%)
| LOW | $170 1,800 SEK |
| AVERAGE | $490 5,100 SEK |
| HIGH | $3,200 33,000 SEK |
| Per Month |
CoupleAverage monthly living expenditure breaks and spending patterns for couples in Sweden
Housing cost for a couple32%
32% of total expenses on average (25% to 42%)
| LOW | $520 5,400 SEK |
| AVERAGE | $1,600 16,000 SEK |
| HIGH | $8,400 87,000 SEK |
| Per Month |
Utilities, Electricity, Water, Internet, Mobile5%
5% of total expenses on average (3% to 9%)
| LOW | $61 640 SEK |
| AVERAGE | $210 2,200 SEK |
| HIGH | $1,400 14,000 SEK |
| Per Month |
Transport and Fuel Cost12%
12% of total expenses on average (6% to 17%)
| LOW | $180 1,900 SEK |
| AVERAGE | $550 5,700 SEK |
| HIGH | $2,900 31,000 SEK |
| Per Month |
Food and Groceries Cost14%
14% of total expenses on average (9% to 19%)
| LOW | $210 2,200 SEK |
| AVERAGE | $640 6,700 SEK |
| HIGH | $3,400 36,000 SEK |
| Per Month |
Healthcare Cost11%
11% of total expenses on average (5% to 15%)
| LOW | $170 1,800 SEK |
| AVERAGE | $510 5,300 SEK |
| HIGH | $2,700 28,000 SEK |
| Per Month |
Leisure and Shopping Cost6%
6% of total expenses on average (3% to 9%)
| LOW | $92 960 SEK |
| AVERAGE | $280 2,900 SEK |
| HIGH | $1,500 15,000 SEK |
| Per Month |
Education Cost2%
2% of total expenses on average (1% to 4%)
| LOW | $31 320 SEK |
| AVERAGE | $92 960 SEK |
| HIGH | $490 5,100 SEK |
| Per Month |
Other Expenses18%
18% of total expenses on average (12% to 24%)
| LOW | $260 2,700 SEK |
| AVERAGE | $780 8,100 SEK |
| HIGH | $4,200 43,000 SEK |
| Per Month |
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.
Singles
The average monthly expense for a single person living in Sweden is 29,000 SEK. Expenses can range from 4,100 SEK at the minimum level to 190,000 SEK at the highest end.
Couples
The average monthly spending of couples in Sweden is 48,000 SEK. Expenditure can range from 16,000 SEK to 260,000 SEK per month.
Families
The average cost of living for families in Sweden is 64,000 SEK per month. Families spend anywhere from 22,000 SEK to 420,000 SEK.
Students
The average monthly expenditure for students in Sweden is 21,000 SEK. Students spend from 3,200 SEK to 140,000 SEK per month.
Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.
