Cost of Living in Hungary
Last updated on May 21, 2023
Summary: The cost of living in Hungary is generally considered to be quite affordable. A nice 1 bedroom apartment in Hungary can cost anywhere from $400 to $800 per month, while a nice 2 bedroom apartment can cost from $600 to $1,200 per month. The cost of dinner at a moderately priced restaurant in Hungary is usually around $15 to $20 per person.
Is the cost of living in Hungary high?
We asked people how much they someone comfortably live on in Hungary, they wrote:
"Well that depends on your life style. Approximately on the average 1,500 euros - 2,000 euros per month on the high end including lots of travel. This monthly living expense is after a property purchase," explained one expat.
"$2000 USD will do it but be mindful it doesn't cover major medical or other expenses," said one person in Budapest.
"The cost of living in Hungary is generally considered to be quite affordable. Prices for basic necessities such as food, transportation, and housing are generally lower than in other European countries. Eating out in restaurants is also relatively inexpensive, and there are plenty of affordable options for entertainment. Overall, Hungary is a great place to live if you are looking for a budget-friendly destination," remarked one expat in Hungary.
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Will I save money living in Hungary?
"Yes! While AFA/VAT (aka sales tax) is 27% (lower now on some items like pork etc), items are in most cases cheaper than in the US. Some items are not so much like electronics," remarked one expat in Budapest.
"Living in Hungary can be significantly cheaper than living in the United States. The cost of living in Hungary is generally lower than in the United States, with rent, groceries, and transportation being much more affordable. Additionally, Hungary has a lower tax rate than the United States, which can help to reduce the overall cost of living," explained one expat living in Hungary.
"Yes financially the cost of living is less then half of my costs in Toronto. It also depends on where you live in Hungary. I live in the heart of Budapest prices are higher but in outlying towns around Budapest with easy access by train to Budapest prices are half of that in Budapest," said one expat in Budapest.
What is the average cost of housing in Hungary?
If you are thinking about moving to Hungary, cost of living in probably a key consideration. Expats commented about the cost of housing:
"I would say outside the city lower but inside the city normal for most US cities and lower for cities like NYC and DC. The average cost for a 1200 square ft. apartment is around the same price usds. If you get a good deal that would include utilities. We pay 720. usds on the average for a 1 bedroom apartment including utilities. We were lucky," said one person in Budapest.
"The cost of housing in Hungary varies depending on the location and type of accommodation. Generally, renting an apartment in Hungary can cost anywhere from around €200 to €1,000 per month, while buying a property can range from €50,000 to €500,000," remarked one expat in Hungary.
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SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
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SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
What are typical rental prices for expats in Hungary?
"The rental price for a nice 1 bedroom apartment in Hungary can vary depending on the location and amenities, but generally ranges from around $400 to $800 per month. For a nice 2 bedroom apartment, the rental price can range from around $600 to $1,200 per month," wrote one expat.
What appliances are typically included in a rental?
We asked foreigners in Hungary what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Hungary, rental properties typically include a refrigerator, stove, oven, and washing machine. Other common appliances may include a dishwasher, microwave, and air conditioning unit. Depending on the property, some landlords may also provide furniture and other amenities," wrote one expat.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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