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Cost of Living in Frankfurt

Updated on 08 November, 2023

Neha Uppal

Neha Uppal

Sr. Content editor

The cost of living in Frankfurt is one of the most crucial issues to address if one is looking to stay here for a significant amount of time. It depends on one’s lifestyle whether one prepares one’s food using only products from the neighborhood market or opts to eat out. But we can put a price on a number of items to indicate an individual’s cost of living in Frankfurt.

Frankfurt is the most miniature metropolis in the world, the financial center of Europe, and a major transportation hub. In terms of education, public universities are among the best in Frankfurt. They are affordable, especially for students from other countries. Goethe University is a public university in Frankfurt where a student can enroll in most courses for free in English whether or not they speak German. However, based on the student’s choice of college, they might have to pay the semester price. If one attends one of Frankfurt’s private universities, one will have to pay tuition fees, increasing the cost of living there.

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Frankfurt offers various options and true prosperity for individuals looking for more than just a good life, city skyscrapers, and financial flow. It is also a major educational city.The cost of living in Frankfurt is one of the most crucial issues to address if one is looking to stay here for a significant amount of time. It depends on one’s lifestyle whether one prepares one’s food using only products from the neighborhood market or opts to eat out. But we can put a price on a number of items to indicate an individual’s cost of living in Frankfurt.

Frankfurt is the most miniature metropolis in the world, the financial center of Europe, and a major transportation hub. In terms of education, public universities are among the best in Frankfurt. They are affordable, especially for students from other countries. Goethe University is a public university in Frankfurt where a student can enroll in most courses for free in English whether or not they speak German. However, based on the student’s choice of college, they might have to pay the semester price. If one attends one of Frankfurt’s private universities, one will have to pay tuition fees, increasing the cost of living there.

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Frankfurt offers various options and true prosperity for individuals looking for more than just a good life, city skyscrapers, and financial flow. It is also a major educational city.

Cost of Living in Frankfurt

A single person needs between €1,400 to €2,000 a month to live relatively well in Frankfurt, and a family needs €4,000. However, one will need to save more money for the first few months because moving is expensive and includes a lot of unanticipated expenses. Rent, health insurance, foodstuffs, transportation, internet, phone, restaurants, and entertainment are the primary cost of living in Frankfurt, Germany. One will also need to budget for the education of children.

Rent charges:

The average rent in Frankfurt is about €13 per square meter. Of course, this is largely dependent on where a person decides to rent. For instance, one of the priciest neighborhoods is Westend, but Bornheim is more accessible and well-liked.

For many residents in Frankfurt, the issue is not that rent is too expensive but rather that there aren’t enough apartments to meet the city’s high demand. Finding furnished apartments can be difficult and expensive, costing more than just outfitting the apartment by oneself.

Food:

If one is not a natural cook, one should start learning how to cook independently because eating at Frankfurt isn’t a good way to save money. Currently, a dinner for two people in a typical restaurant may cost an individual 45 € on average.

Lunch at a smaller restaurant may cost between 8€ and 14€. Any informal dessert or beverage will almost certainly result in a greater price. For instance, a half-liter of indigenous German beer costs about 4 € instead of 3 € for an imported beer.  One has to pay 3.19 € if one wants a cappuccino instead of a beer. A soda costs 2.66 €, while a 0.33-liter bottle of water costs 2.49 €.

Transportation:

Frankfurt has fairly affordable transportation costs. In fact, most of Germany has an excellent public transportation system that can be used to travel to work in one of the towns or cities if driving is not preferred.

Mobile Service:

In Germany, cell phones are reasonably priced in addition to home internet. Telekom, Vodafone, O2, and 1und1 are the four primary service providers, and each of them offers plans in various price ranges. O2 is often the least priced, with Telekom being the most complete and pricey. Many other contractors just outsource their services to one of the major providers while advertising their services under their names.

Cost typeCost
Apartment (1 bedroom) in City Centre1,131.90 €    
Apartment (1 bedroom) outside City Centre856.36 €    
Meal, Inexpensive Restaurant14.00 €    
One-way Ticket  2.85 €    
Monthly Pass93.85 €
Electricity, Heating, Cooling, Water, Garbage332.04 €
Fitness Club, Monthly Fee45.57 €

Cost of Living for Students

Before applying, it’s crucial to be aware of the living expenses and related study fees wherever an aspiring student chooses to study in Frankfurt. The good news is that living expenses in Frankfurt are very affordable for students, especially given the high quality of education available. A student’s normal rent in Frankfurt is 1089.30 € , whereas food would add up to 31.77 €. Phone and internet charges for a student in Frankfurt are 181.55 € and 27.23 €, respectively. 

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Top Universities in Frankfurt

Frankfurt is home to some of the top universities in the nation. The following is a list of Frankfurt’s top universities:

Goethe University Frankfurt

Goethe University, Frankfurt is one of the top research universities in the world, with 19 Nobel laureates among its alumni. It is one of the few public universities in Germany.

University of Applied Sciences in Frankfurt

The Frankfurt University of Applied Sciences offers a wide range of course options, and international students have access to a special student advisory service. Students can also make use of the university’s International Career Wing, which helps them finish their program. 

Frankfurt School of Finance & Management

The Frankfurt School of Finance & Management is a private business school and is regarded as one of the top institutions in Frankfurt. It has been given the seal of approval by The Association to Advance Collegiate Schools of Business (AACSB) Global because it is recognized for providing students with high-quality courses. 

University of Music and Performing Arts

Around 1500 students from more than 50 different countries attend the University of Music and Performing Arts, which is situated in the heart of Frankfurt. The university offers competence in music, theatre, and dance, as its name would imply. 

Europa University

Europa University, often known as the University of Frankfurt (Oder), is a smaller institution with just over 6000 students. The university, despite its size, offers a number of English-taught programs in subjects including Business Management, Cultural Studies, Law, History, etc. 

UniversityQS World University Ranking 2023Tuition Cost/ SemesterAccommodation cost
Goethe University=328369 €400€
Frankfurt University of Applied Sciences2911500 €545 €
Frankfurt School of Finance & ManagementNA1500€650 €
The University of Music and Performing ArtsNANA540 €
Europa UniversityNAFree (for UG)85 €

Conclusion

This article discussed the cost of living in Frankfurt based on information gathered from students. The way a person lives affects how well they can manage their monthly spending. However, managing the monthly costs would be quite difficult if one doesn’t give up a few pleasures. Additionally, it is rather typical for students to have little money to spend. Consequently, having a sensible budget is essential.

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Neha Uppal

Sr. Content editor

Neha Uppal is a passionate content creator and editor. She carries 7.5+ years of experience working with leading edutech companies where she worked as a Faculty, Community Manager, and Content Marketeer. At upGrad, she is helping out people keep informed about the scopes and opportunities of studying abroad via informational articles/blogs.

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