How Much Does It Cost to Live In Istanbul?
When compared to other European countries, it can be said that Istanbul is not among the most expensive cities.
Nevertheless, Istanbul has a high cost of living in relation to other Turkish cities, and it is one of the priciest in the country.
Istanbul is a very popular city due to its cultural, historical, and economic development.
Being the largest city in Europe it has to offer something for each person’s taste.
Turkey : Cost of Living by City
RESTAURANTS
Both imported alcohol and international food are more expensive than the traditional Turkish meal.
The taxes imposed on alcohol are so high that they affected the prices, too.
Meals in Istanbul are not too expensive if you do not mind eating in an inexpensive restaurant.
MARKETS
In comparison with other Western countries and their major cities, Istanbul is considered cheap for daily groceries.
Residents tend to buy fresh vegetables and fruit at bazaars at lower prices, but of equally satisfying quality as in supermarkets.
If you follow their spending habits, you will be able to save some money on this huge monthly expense.
TRANSPORTATION
Gasoline prices in Istanbul are particularly high and driving in this enormous city is not advisable, especially if you do not know it well.
If you are using a public transport system, you will save both time and money, as it is inexpensive and efficient.
UTILITIES (MONTHLY)
According to the data, only 6% of the monthly salary is spent on utilities, which means that they are not such a great expense in Istanbul.
Actually, all the basic services with the Internet connection included would cost you around $90, which is really affordable and almost unimaginable in many of the cities in the world.
SPORTS & LEISURE
Bearing in mind the fact that sports people are ready to invest a lot of money in their daily activities, Istanbul is a place where they will be extremely satisfied with the prices.
Both fitness club fees and tennis court rents are affordable here, as well as the cinema tickets which can be found at the price of $4.7 per person.
CLOTHING & SHOES
The prices of clothing items are not high in Istanbul and for those budget-minded people, designer apparel would be affordable.
On the other hand, those who earn the minimum salary would not be able to afford it, so they will satisfy themselves with low-cost clothing which is frequently sold in Istanbul.
RENT PER MONTH
Due to the fact that this is a city that is located on two continents, accommodation prices will depend on this, too.
The European side is more expensive when the rent is in question, but in general, this is going to be a high expense in Istanbul.
Cost of Living Averages Table for Istanbul
*Note: All prices are indicated in USD.| Average Restaurant Prices | |
|---|---|
| Meal (Inexpensive Restaurant) | $6.37 |
| Domestic Beer (0.5 Liter) | $3.19 |
| Water (0.33 Liter) | $0.44 | Average Market Prices |
| Milk (1 Liter) | $1.27 |
| Loaf Bread (500g) | $0.60 |
| Eggs (12) | $2.13 | Average Transport Prices |
| One Way Ticket | $0.53 |
| Monthly Pass | $41.28 |
| Gasoline | $1.13 | Average Utilities Prices |
| Basic (Water, Electricity, Garbage, Heating, Cooling) | $75.69 |
| 1 min. of Prepaid Mobile Tariff Local | $0.07 |
| Internet (Unlimited Data, Cable/ADSL) | $11.39 | Average Leisure Prices |
| Fitness Club, Monthly Fee for 1 Adult | $32.84 |
| Tennis Court Rent (1 Hour) | $13.75 |
| Cinema, 1 Seat, International Release | $4.78 | Average Clothing Prices |
| 1 Pair of Jeans (Levis 501 Or Comparable) | $53.64 |
| 1 Summer Dress in a Chain Store (Zara, etc...) | $37.23 |
| 1 Pair of Adidas Walking Shoes (Mid-Range) | $97.49 | Average Rent Prices |
| Apartment (1 bedroom) in City Center | $716.83 |
| Apartment (1 bedroom) Outside of Center | $414.32 |
| Apartment (3 bedrooms) in City Center | $1226.12 |
How Does the Average Person Spend Their Money in Istanbul?
Even though residents of Istanbul do not spend too much on rent due to the fact that the majority of them own their properties, newcomers will find that accommodation is their biggest expense.
Food is also an important cost here, but fresh products can be found at the local markets and are more affordable compared to the stores and supermarkets.
The third most expensive category is transportation, and almost 19% of the monthly salary will be spent on it.
Average Costs Breakdown
Istanbul: Average Salary, Minimum Wage & Mortgages
There are so many places to be seen in this beautiful city and you should not miss exploring it once you get there.
If you are thinking of buying a property here, bear in mind the high mortgage interest rates.
The difference between the minimum and average salary is not high, so you should negotiate the income, if there is a chance, and do not accept anything below the average.
That is the only way of providing a decent life In Istanbul.
Istanbul Safety Overview
READ THE FULL REPORT: Istanbul Safety Review
Safety Index:
- OVERALL RISK: MEDIUM
- TRANSPORT & TAXIS RISK: MEDIUM
- PICKPOCKETS RISK: HIGH
- NATURAL DISASTERS RISK: MEDIUM
- MUGGING RISK: MEDIUM
- TERRORISM RISK: HIGH
- SCAMS RISK: MEDIUM
- WOMEN TRAVELERS RISK: MEDIUM
Cost of Living by City in Istanbul
| City | Cost of Living Index |
|---|---|
| Ankara | 34.77 |
| Antalya | 33.78 |
| Bursa | 33.72 |
| Izmir | 34.03 |
Istanbul is ok for newcomers and the weather is good & friendly. I will like to have business relationship.
Istanbul is an expensive city by any standard. Average salary is around $500, yet it is difficult to find a decent apartment in good areas for $500. Prices for many daily necessities are almost similar to the prices in US, in some cases even more expensive than in US. It is a mystery how people get by making 500 dollars or less a month. Turkey has become a magnet for poor people from the middle east, Afghanistan, Pakistan and Central Asia. Life in those places must be even worse than in Turkey.
Shop local
When you are looking to keep up with what you’re used to in the USA or Europe of course it’s very expensive. You have to shop local to be able to make it. Brand names and high end luxury brands are expensive everywhere you go. Shop local brands and eat local foods.
Double all of the above prices
Inflation is 100%+ average costs based on 2022/8:
Bread: $1; Milk $1; 1 kilo of minced beef $8; 2 chicken breasts $3.25; bus/metro fare $0.38; big mac menu $4; meal for 2 in an average restaurant $35; rent pcm $1250; a local draft beer $7/import bottled beer; winter heating $50; electricity $16.
These prices increase 10-20%/month