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Cost of Living – How to Budget in Austria

The most common question asked when people start thinking about relocating to a new country is “how much will it cost there?” Most expats moving to Europe will be aware that prices are likely different to their home country, especially those moving from the US. It can be overwhelming to understand the cost conversion into Euros and the exchange rate is usually a very big influence on purchasing power. 

What does it cost to live in Austria?

Prices indicated below are based on a monthly average estimate and are subject to fluctuations.

Rent 

Whilst a one bedroom apartment in the city centre costs around 570€, a three bedroom unit could cost about 1300€. Outside city centres these prices will likely be considerably less.

Utilities

Basic electricity for an 85m2 home will range from 170- 200€, depending on consumption. The cost of Internet weighs in at a reasonable price of about 20€/month.

Food

Like most countries, the cost of food is greatly reduced when purchased from markets and grocery stores rather than dining out. Generally consumers can find most of their products for under 10€, with simple items such as bread, milk and eggs for all under 5€. Alcohol is quite reasonable, at less than 5€ for a basic bottle of wine and beer at 1-2€/litre. Eating out in a restaurant is always a nice treat and the cost doesn’t have to break your bank if you want to sample Austria’s cuisine. If you eat out at an inexpensive restaurant the cost per meal is about 8.50€, whilst a three course meal at a mid range eatery could cost around 40.00€ for two people.

Fuel

As in most places around the world, fuel costs can be highly variable. However, in Austria the rough cost of a litre of fuel is about 1.2€. Like most EU countries, Austria boasts an exceptional public transit system, so most people take advantage of not having to drive everywhere.

Here are some of the tips on being a frugal consumer in Austria. 

  1. Shop at local markets and grocery stores for food, instead of eating out.
  2. Opt for an apartment outside the city centres to save on rent costs.
  3. Rent a smaller apartment to save on utility bills.
  4. Utilise the public transit system rather than driving your vehicle around.
  5. If you dine out, pick an inexpensive place rather than a mid range eatery.
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