Inflation affects many people. The energy crisis seems to be easing and the inflation rate is gradually falling. But food prices in particular are rising rapidly at the moment – not to mention rents. But what is the cost of living in the big cities? Example Frankfurt am Main.
Rents in Germany have been rising for years – especially in the big cities. But the energy crisis and inflation have made life in this country much more expensive. It is true that energy prices now seem to be relaxing somewhat.
The prices of many foods and products are still rising at the moment. But how expensive is life in the big German cities in comparison? Today: the current cost of living in Frankfurt am Main.
Cost of living: How expensive is Frankfurt am Main?
The so-called “Cost of Living Index” is a theoretical price index that compares the costs of different products and services in different countries or cities. There are now numerous websites that promise such a price comparison.
However, the Numbeo platform is considered one of the largest data-based platforms when it comes to the cost of living. The “Cost of Living Index by City 2023‘ compares the cost of living in hundreds of major cities around the world. The city of New York City, which is generally regarded as one of the most expensive cities in the world, forms the benchmark and general comparative value.
According to Numbeo, the cost of living in Frankfurt am Main is 71.0 (New York City: 100.00). This puts the cathedral city in 115th place in the ranking (as of May 25, 2023). In comparison: Berlin with a value of 72.3 in 104th place, Hamburg in 114th place with a price index of 71.7 and Munich in 70th place with a cost of living index of 76.6.
How high are the rents in Frankfurt am Main?
In terms of the cost of living, Frankfurt am Main is the fifth most expensive city in Germany. In an international comparison, the German financial metropolis is again 29 percent cheaper than New York City (without rent).
Taking rents into account (Cost of Living Index Plus Rent Index), Frankfurt is even 47.5 percent cheaper than the US metropolis. In a national comparison, the Hessian city now occupies fourth place in terms of cost of living plus rents.
According to Numbeo – as of May 25, 2023 – the rental prices for a single household are as follows: 1,110.93 euros for an apartment in the city center and 777.27 euros for an apartment outside the center. For a family of four: 2,049.85 euros in the city center and 1,471.74 euros outside the center.
Cost of living: How much money do you need in Frankfurt am Main?
According to the index platform Numbeo, the cost of living in Frankfurt am Main for a family of four is 3,362.02 euros (without rent) and 5,411.87 euros (with rent in the city center) and 4,833.76 euros outside the city center.
For a one-person household, the evaluation is as follows: 994.83 euros (without rent) and 2,121.18 euros (with rent in the city center) as well as 1,772.11 euros outside the center. Overall, the evaluation includes all living expenses: rent, ancillary costs, restaurant visits, clothing, groceries, car, travel, savings and more.
Depending on consumer behavior and living conditions, the cut can vary. In order to calculate the individual living costs in Frankfurt and Co., the platform provides an in-house calculator ready.