That’s how much money you need to live in Munich

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 Munich.

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 Munich.

Cost of living: How expensive is Munich?

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 Munich is 76.4 (New York City: 100.00). This puts the Bavarian state capital in 71st place in the ranking (as of May 12, 2023). In comparison: Berlin with a value of 72.3 in 107th place, Hamburg in 111th place with a price index of 72.2 and Cologne with a cost of living index of 68.4 in 161st place.

How high are the rents in Munich?

In terms of living costs, Munich is the second most expensive city in Germany after Darmstadt. In an international comparison, the Bavarian state capital is again 23.6 percent cheaper than New York City (without rent).

Taking rents into account (Cost of Living Index Plus Rent Index), Munich is even 40.7 percent cheaper than the US metropolis. In a national comparison, the Bavarian metropolis now takes first place in terms of cost of living plus rents – ahead of Berlin, Darmstadt and Frankfurt am Main.

According to Numbeo – as of May 12, 2023 – the rental prices for a single household are as follows: 1,339.83 euros for an apartment in the city center and 1,067.08 euros for an apartment outside the center. For a family of four: 2,427.40 euros in the city center and 1,818.17 euros outside the center.

Cost of living: How much money do you need in Munich?

According to the index platform Numbeo, the cost of living in Munich for a family of four is 3,477.62 euros (without rent) and 5,905.02 euros (with rent in the city center) and 5,295.78 euros outside the city center.

For a one-person household, the evaluation is as follows: 1,017.66 euros (without rent) and 2,371.92 euros (with rent in the city center) and 2,084.74 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 Munich and Co., the platform provides an in-house calculator ready.

Also interesting: