With compulsory health insurance and high rent prices, as well as the need to use public transport to navigate the city, the cost of living in Munich is higher than average. In fact, it’s one of the most expensive cities in Europe when it comes to accommodation, whether it’s renting or buying.
If you budget well, and get a flat that isn’t cripplingly expensive, then you should be able to manage well enough, but perhaps with fewer luxuries than you might get at home!
As mentioned on our webpage about finding housing in Munich, average rent prices for a shared flat/single room can range from about €400-800. In addition you’ll be faced with utility bills, internet and any repairs which might be required on the property during your tenancy.
A huge consideration must also be the upfront cost of taking on a new apartment. Your deposit is likely to equal 3 months rent, with an initial payment of 4-6 weeks rent prior to moving in. All in all, you could have to produce thousands of euros upon setting foot in the city. This isn't abnormal. In fact, it’s the same in most European cities, and you just have to budget for it and make sure you arrive with enough funds to not only make rent, but afford your initial payments.
One area where you don’t feel like you’re overspending is your grocery shopping. There are budget supermarkets like Aldi which, while they may not have all of the ingredients if you’re making a fancy meal, do charge you a fraction of what you’ll pay in a higher-end store. Your weekly shop will probably hover around the €50 mark if you’re eating fairly well, and cooking your own lunches and dinners.
For eating and drinking out, there’s no reasonable average. Many will spend more on drink than they do on food, while others will buy a few beers a week (average cost is a few euros). The cost of drinks in most bars is pretty low, but if you head somewhere fancy like the Martini Club cocktail bar, then expect to pay a premium.
There is universal ticketing in Munich, which means that each transport ticket is valid for the U-Bahn, S-Bahn, Tram and Bus. An overview of ticket prices is as follows:
Single journey ticket, €2.80 (valid 3 hours)
Short distance ticket (Kurzstrecke), €1.40 (valid 1 hour)
Single day ticket, inner zone, €6.60
Single 3-day ticket, inner zone, €16.50
Group day ticket, inner zone, €12.60 (up to five adults!)
Group 3-day ticket, inner zone, €29.10
You can also get weekly and monthly passes which allow unlimited travel across all forms of transport within a specific area. These ranges from €15-61.50 (weekly) and €54.50-222.90 (monthly), so do some research and choose the right IsarCard for you!