A lot of people hope to move to a charming European city and Budapest is frequently ranked at the top. It’s easy to see why Budapest attracts many expats and digital nomads with its beautiful buildings, active cultural life and low costs for living.

Rent or Stay

Budgeting for accommodation in Budapest is easier than in many other European metropolises. The cost of renting a property is dependent on where and what kind of place you choose. District V and District VI are generally known to be more costly than the neighborhoods further out. You will also find that in the city alone, there are affordable apartments or you might share a home with roommates to save on rent. The variety in accommodation makes Budapest an excellent choice for people who want a good life on a budget.

Rental Prices

An average one-bedroom apartment in the heart of a city will likely cost you between €400 and €700 monthly, whereas one found outside the center might be around €300 and €550 per month. Remember that prices may not be the same for every property, as the size, house condition and place it’s located matter. It’s clear that newer or just-renovated apartments sell for higher prices, however, they are still more affordable than what you would find in top cities like Paris, London or Berlin.

Utilities

In Budapest, most people find electricity, water, heating and internet to be affordable. Most of the time, a small apartment will require between €100 and €200 every month for utilities. Nevertheless, winter expenses tend to be higher because we use more heating. The cold months can significantly increase your monthly bills if your building does not benefit from modern insulation. Even so, cities with much colder winters end up spending more on utilities than people in Budapest.

Transportation

People in Budapest find it simple and economical to use the city’s excellent network of public transport. Tourists and residents choose the Budapest Card because of its benefit of free rides on buses, trams, metro and select ferries. Because this network helps most residents, many don’t own a car which means they save on costs.

Faring for Public Transport

One trip on the bus or tram normally costs about €1. If you’re a regular tourist to Budapest, the Budapest Card gives you great value in its 24-hour, 48-hour, 72-hour and weekly packages. The 72-hour card costs about €17 and gives unlimited travel on buses, trains and the subway, as well as special deals on various activities and services. For people living there, monthly tickets are not expensive and give them the privilege of using the transport systems freely every day.

Going to the grocery store and eating out

You can get your groceries at local markets or in international grocery stores in Budapest. Buying in local markets can save you money, as there’s usually fresh and inexpensive produce and ingredients. Along with selling fresh produce, the Great Market Hall lets customers enjoy local culture while doing their shopping.

Restaurant Prices

You’ll find numerous delicious dishes that represent various cuisines in Budapest. Traditional meals from Hungary are offered along with a variety of international recipes at prices visitors can afford. A meal shared between two at a middle-class restaurant costs between €30 and €50, but a quick lunch in a local restaurant could set you back €5 to €10. The city’s many cafes provide a range of welcoming places where you can enjoy coffee and cakes for not much money.

Living Comfortably

There are many museums, galleries and events happening in Budapest all through the year. There are countless low-cost or free activities in the city to help you enjoy its culture. Regardless if you are a fan of classical music, modern art or lively festivals, in Budapest, culture can be enjoyed for a very affordable price.

Fun Recreational Options at Little or No Charge

On certain days, museums and galleries let you in for less, so you can enjoy the city’s culture without paying much. Affordable things to do in Budapest include spending time in parks, using the many thermal baths and going to festivals. It is often possible to visit the Széchenyi or Gellért thermal baths for less during the week or at night. Residents can take advantage of City Park and Margaret Island for picnic time or runs without paying anything.

Conclusion

Living here in Budapest doesn’t have to cost much. It’s no surprise that people appreciate this city because it’s cheap to stay in, travel around and have fun. Wanting to discover its old buildings, dine like a local or experience its cultural activities? You’ll have a great time despite Budapest’s low prices. The reason many global house hunters come to Eastern Europe is due to its low costs, strong cultural identity and nice way of life.