Cost of living in Frankfurt: let’s analyze costs of food, real estate, entertainment and transport in Frankfurt, Germany
Are you considering moving to Frankfurt, Germany? Check below the data for the cost of living in Frankfurt, the financial hub of Germany and a city with an excellent business climate.
Cost of Living in Frankfurt, Germany
Frankfurt (Frankfurt am Main) is a large metropolis in the Western part of Germany. Despite being an European hub and a economic powerhouse , it is not the capital of its state (Hesse). Frankfurt is a very liveable city, even if has a strong focus on finance, and less options of entertainment or academic studies.
There is absolutely no doubt that the top vocation of Frankfurt is the finance industry. It is the headquarters for many national and international public banking institutions, including the European Central Bank.
Many private German banks also have their headquarters in Frankfurt, the same can be said by international banks which have European headquarters in Germany.
The second strong economic engine of Frankfurt is logistics, especially due to the Frankfurt Airport. The airport is the biggest in Europe in terms of cargo traffic and also one of the biggest in terms of passenger traffic.
Despite not being the most expensive city in Germany, Frankfurt has a high cost of living. Housing is rather expensive, but Munich in Bavaria for example, is considerably more expensive.
Let’s check some data for the cost of living in Frankfurt, Germany below:
The currency in Germany is the Euro. The conversion rate to the USD is 1 dollar to 0.92 EUR as of March 31, 2023.
If you want to suggest your own values based on your experiences in this city, click on edit and insert the values. Upon moderation they will be calculated to make part of the average prices displayed below.
|1 liter of milk||1.40 USD|
|1 loaf of bread||1.90 USD|
|1 kg of tomatoes||4.00 USD|
|1 kg of chicken||5.00 USD|
|1 single meal cheap restaurant||10.00 USD|
|1 single meal high-end restaurant||35.00 USD|
|1 cappuccino or latte||3.40 USD|
|1 big pizza delivery||17.00 USD|
|Real Estate||Price [EDIT]|
|1 bedroom flat (40 m2) rent per month||870.00 USD|
|1 bedroom flat (40 m2) utilities per month||170.00 USD|
|2 bedroom flat (80 m2) rent per month||1,455.00 USD|
|2 bedroom flat (80 m2) utilities per month||240.00 USD|
|Price per square meter (city center)||6,798.00 USD|
|1 single ride public transport||3.58 USD|
|Monthly public transport ticket||105.00 USD|
|1 km taxi or similar transport app||3.50 USD|
|1 liter of gasoline (1/4 gallon)||1.80 USD|
|Toyota Corolla (new) basic version||27,600.00 USD|
|Minimum Salary||1,851.00 USD|
|Average Salary (net)||2,899.98 USD|
|1 ticket to the movies (adult price)||14.00 USD|
|High speed internet per month||39.00 USD|
|1 month gym subscription||55.00 USD|
Cost of Living for Students in Frankfurt, Germany
Despite having an extremely high cost of living in general, being a student in Germany has huge advantages. Firstly, in many cases, you are not required to pay for tuition fees in many German higher education institutions. This fact alone makes of Germany far more attractive than the UK in terms of cost of living. Secondly, it is possible to get a resident permit for up to 18 months following the end of your education, and you can search for jobs during this period.
Germany has by far some of the most relaxed policies for foreign students in the world. Even if Frankfurt is not considered as a student city like Berlin, Aachen or Cologne, it is still possible to find many opportunities for foreign students in the city.
Here are some of the main higher education institutions in Frankfurt:
Frankfurt School of Finance & Management
Frankfurt University of Music and Performing Arts (HfMDK)
Getting a Job in Frankfurt
Due to its financial role in Europe and global markets, Frankfurt has some of the best employment possibilities in Germany, if not in Europe. Most of these jobs are available for high-skilled professionals, in banking, IT and other finance related fields.
Wages in Frankfurt are high, as so is the population purchasing power.
Here are some websites for job hunting in Frankfurt:
Quality of Life in Frankfurt
Like most cities in Germany, Frankfurt enjoys good standards of living. However, the city may lack entertainment opportunities, depending on your taste. Crime can also be a problem in Frankfurt, and the city is one of the least safe in the country.
Transportation in Frankfurt is one of the best in the world, and there is no need to own a car (unless you want to). The city has an excellent urban public transport infrastructure. You will also benefit from the German railway network. Finally, with the Frankfurt Airport you can directly to most of the biggest cities in the world.
English is widely spoken in Frankfurt. Due to its international business vocation, the level of English in Frankfurt is above the average for Germany.
If you are visiting Frankfurt soon you may want to check some of our other German guides. Check the best places to places to stay in Frankfurt and our article on the where to stay in Cologne. You can also check the cost of living in Munich. If you are visiting the region for banking relate affairs, you may also want to check where to stay in Luxembourg.
Other Resources for Expats and Travelers
Salaries Worldwide: check our articles on wages worldwide and understand better the economics of the countries you may be considering to move or invest.
Retire Abroad: check our retirement guides and maximize your retirement income and quality of life.
Jetradar: compare and find the cheapest air fares worldwide.