Frankfurt is the central city in Germany located on the river Main. It is known as the financial hub because the European Central Bank is situated here. If you are planning to stay in Frankfurt for a significant period, then the cost of living in Frankfurt is the most important factor to consider. However, the cost of living in Frankfurt is dependent on the lifestyle of the person.
Goethe University is one such public university that offers a varied number of courses to students in English and German. For a single person, the average monthly cost of living is around 1400 £ to 2000£. In general, the cost of living in Frankfurt is quite low when compared to New York and other cities in Europe. Stay tuned and keep reading to get details on living expenses in Frankfurt, Germany.
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List of Cost of Living in Frankfurt
The cost of living is directly dependent on the location of the city you choose to stay. If your purpose of staying in Frankfurt is studying, then, search for student accommodation in Frankfurt, Germany. It may help reduce living expenses compared to renting an apartment in the city. The average cost of living may reach up to 2000£ a month for a single person.
Here is a pie chart displaying the cost of living:
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There are several properties in the city for the student accommodation in Frankfurt. You can choose as per your budget and needs. The average rent range is €13 per square meter.
Look at the table given below to check the accommodation rent in Frankfurt Germany:
|Housing Rent||Rent per month|
|1-bedroom apartment in a city||1,196.67 €|
|1-bedroom apartment outside the city||852.40 €|
|3-bedroom apartment in the city||2,138.46 €|
|3-bedroom apartment outside the city||1,502.38 €|
Also Read: Cost of living in Germany
Mentioned below are the modes and fares of transportation in Frankfurt:
|Modes of Transport||Fare|
|A one-way ticket for Local Transport||3.40 €|
|Monthly pass of Local Transport||79.50 €|
|Taxi (Normal Tariff)||4.25 €|
|Volkswagen Golf 1.4 90 KW Trendline||27,000.00 €|
Also Read: Best Student Cities in Germany
The groceries or the food cost is reasonable in Frankfurt. However, if you choose to eat in fancy restaurants then the cost may fluctuate. Here is the list of grocery items and their cost:
|Milk (1 liter)||1.16 €|
|Loaf of white bread||2.03 €|
|12 eggs||3.21 €|
|Local cheese (1 kg)||13.03 €|
|White rice (1 kg)||2.36 €|
|Chicken (1 kg)||13.09 €|
|Onion (1 kg)||1.34 €|
|Potato (1 kg)||1.42 €|
|Tomato (1 kg)||2.32 €|
|Oranges (1 kg)||2.07 €|
|Apple (1 kg)||2.35 €|
|Banana (1 kg)||1.61 €|
Also Read: How to manage money while studying Abroad?
Many restaurants in Frankfurt serve delicious food. But being a student having food at restaurants daily would be very expensive for you. So, you should either try cooking your food or prefer eating at the university mess to save money. Here is the cost of food at restaurants in Frankfurt:
|Meal at a cheap restaurant||15.00 €|
|McMeal at McDonald’s||9.00 €|
A part of your monthly expenses will be spent on the following utility bills:
|Basic electricity, cooling, heating, garbage, and water bill for an 85-meter square apartment||315.61 €|
|Monthly mobile phone bill||32.00 €|
|Internet bill (it includes 60 Mbps data and more, unlimited data, cable/ADSL)||40.70 €|
The personal care items include clothing and shoes. Here is the cost that may be incurred while shopping in Frankfurt:
|Sunner Dress||35.93 €|
|Men’s Formal Shoes||125.33 €|
|Running shoes||88.74 €|
Also Read: Budgeting Tips for Students
A1. The expenses depend upon various factors such as monthly rent, mode of transportation, food cost, etc. However, as per the survey, Frankfurt is 30.9% less expensive than New York City excluding accommodation expenses.
A2. The estimated cost of living in Frankfurt for a single person ranges between €1,400 to €2,000 per month excluding rent. However, the living expenses in Frankfurt for a family of four will be around €4,000 a month.
A3. The average monthly rent for a 1-bedroom apartment in Frankfurt, Germany is €1,591. In August 2023, the rent rates increased by 14.4%, reaching up to €1,494 for bedroom apartments, and it reaches up to €1,823- €2,000 per month.
This was all about the Cost of Living in Frankfurt, Germany. If you have further queries or need assistance with your study abroad journey, don’t hesitate to reach out to our team of experts at Leverage Edu. We are here to ensure a smooth and hassle-free experience for you.