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Expat Exchange - Cost of Living in Geoje 2024
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Cost of Living in Geoje

By Betsy Burlingame

AGS Worldwide Movers
AGS Worldwide Movers

Summary: Understanding the the cost of living in Geoje helps a newcomer what to expect when it comes to apartment or house hunting, grocery shopping, transportation, dining out, utilities and more.

Apartment Rentals The average cost of renting an apartment in Geoje is around $500 to $1,000 per month. This cost can vary depending on the size and location of the apartment.
Apartment Purchases The average cost of purchasing an apartment in Geoje, Korea is around $100,000 to $200,000. This cost can vary depending on the size and location of the apartment.
Transportation The cost of transportation in Geoje, Korea is relatively inexpensive. A bus ride costs around $1.50 and a taxi ride costs around $3.00.
Groceries The cost of groceries in Geoje, Korea is relatively inexpensive. A loaf of bread costs around $1.50 and a gallon of milk costs around $3.00.
Restaurants The cost of eating out in Geoje, Korea is relatively inexpensive. A meal at a local restaurant costs around $5.00 and a meal at a more upscale restaurant costs around $15.00.
Utilities The cost of utilities in Geoje, Korea is relatively inexpensive. The average cost of electricity is around $50 per month and the average cost of water is around $20 per month.
Private School Tuition The cost of private school tuition in Geoje, Korea varies depending on the school. The average cost of preschool tuition is around $500 per month, the average cost of elementary school tuition is around $1,000 per month, the average cost of middle school tuition is around $1,500 per month, and the average cost of high school tuition is around $2,000 per month.

Monthly Budget for Retirees in Geoje

"The cost of living in Geoje is considered moderate compared to other cities in South Korea. Rent for a one-bedroom apartment in the city center can be quite affordable, while outside the city center, it can be even cheaper. The cost of utilities such as electricity, heating, cooling, and water is also relatively low. Groceries in Geoje are reasonably priced, with local markets offering fresh produce at lower costs. Eating out at an inexpensive restaurant is also quite affordable, while a three-course meal for two people at a mid-range restaurant can be a bit more expensive. Public transportation in Geoje is also quite affordable, with a monthly pass costing less than what you would pay in larger cities. However, owning a car can be quite expensive due to high costs of gasoline and maintenance. Healthcare in Geoje is of high quality and is relatively affordable, especially when compared to countries like the United States. However, it's important to note that prices can vary depending on whether you're using public or private healthcare services. Overall, while the cost of living in Geoje is lower than in cities like Seoul or Busan, it's still higher than in many rural areas of South Korea. It's also worth noting that your cost of living can vary greatly depending on your lifestyle and spending habits," said one expat living in Geoje.

Can I live in Geoje on $1,500 a month?

"I've been living in Geoje for a while now, and I can tell you that it's possible to live comfortably on $1,500 a month, but you'll have to make some sacrifices. First, you'll need to find an affordable place to live. I recommend looking for a one-room apartment or officetel in neighborhoods like Gohyeon or Jangpyeong, where the rent is usually around $400 to $600 per month. These areas are not as fancy as Okpo or Geoje City, but they're still quite nice and have all the necessary amenities.Next, you'll need to be mindful of your spending on food and entertainment. Eating out can be quite expensive, especially if you're used to Western-style restaurants. I suggest cooking at home as much as possible and shopping at local markets for fresh produce. When you do eat out, try to stick to local Korean restaurants, which are usually more affordable. For entertainment, take advantage of the many free or low-cost activities available in Geoje, such as hiking, visiting parks, or going to the beach.Transportation costs can also add up, so I recommend using public transportation instead of taxis or renting a car. Buses are quite affordable and can get you to most places on the island. If you need to travel to other cities, consider using intercity buses or trains instead of flying.Finally, be prepared to cut back on some of the luxuries you might be used to. For example, you might not be able to afford a gym membership or regular visits to the spa. Instead, try to find free or low-cost alternatives, like outdoor exercise equipment in parks or using public bathhouses.Overall, living on $1,500 a month in Geoje is doable, but it requires some adjustments and sacrifices. By being mindful of your spending and taking advantage of the affordable options available, you can still enjoy a comfortable life on the island," commented an expat living in Geoje.

Can I live in Geoje on $3,500 a month?

"I've been living in Geoje for a while now, and I can tell you that it's definitely possible to live comfortably on $3,000 a month, even if you're used to modern amenities. However, you might have to make some sacrifices in terms of housing and entertainment options. For example, you might not be able to afford a luxurious apartment in the most expensive neighborhoods, like Okpo or Jangpyeong, but you can still find decent and affordable housing in other areas.I recommend looking for apartments in neighborhoods like Gohyeon or Sangmun, where the cost of living is more reasonable. You can find a nice one-bedroom apartment for around $500 to $700 a month, which should leave you with plenty of money for other expenses. Keep in mind that you might have to compromise on the size or the view, but you'll still have access to modern amenities like high-speed internet, air conditioning, and a washing machine.As for other expenses, groceries and eating out are quite affordable in Geoje. You can find plenty of local markets and supermarkets where you can buy fresh produce and other essentials at reasonable prices. Eating out at local restaurants is also quite cheap, with meals costing around $5 to $10 per person. However, if you're craving Western food or fine dining, you might have to spend a bit more.Transportation is also quite affordable in Geoje. You can get around using public buses, which are cheap and efficient, or you can rent a car if you prefer to drive. Gas prices are a bit higher than in the US, but it's still manageable within your budget.In terms of entertainment, there are plenty of outdoor activities to enjoy in Geoje, like hiking, biking, and visiting the beautiful beaches. These activities are either free or very affordable, so you won't have to worry about spending too much money on entertainment. However, if you're into nightlife or shopping, you might have to limit your spending in those areas, as bars and clubs can be quite expensive, and shopping for imported goods or brand-name items can also be pricey.Overall, living in Geoje on $3,000 a month is definitely doable, but you'll have to be mindful of your spending and make some compromises in terms of housing and entertainment. But if you're willing to adapt and embrace the local lifestyle, you can have a comfortable and enjoyable experience living in Geoje," said one expat living in Geoje.

Can I live in Geoje on $5,000 a month?

"I've been living in Geoje for a while now, and I can tell you that it's definitely possible to live comfortably on $5,000 a month, even if you're used to modern amenities. However, there might be some sacrifices you'll have to make to ensure you stay within your budget. For example, you might have to opt for a smaller apartment or live in a more affordable neighborhood.Speaking of neighborhoods, I'd recommend looking into areas like Gohyeon-dong or Jangpyeong-dong, as they tend to have more reasonably priced housing options. These areas are still close to shopping centers, restaurants, and public transportation, so you won't feel too isolated. On the other hand, I'd avoid neighborhoods like Okpo-dong or Deokpo-dong, as they tend to be more expensive due to their proximity to the shipbuilding industry and expat communities.In terms of transportation, public buses and taxis are quite affordable in Geoje, so you shouldn't have any issues getting around. However, owning a car might be a bit more expensive due to insurance, maintenance, and parking fees. So, if you can manage without a car, that would be a great way to save some money.Eating out can also add up quickly, especially if you're dining at expat-friendly restaurants or international chains. To save on food costs, I'd recommend trying local Korean restaurants, which are not only delicious but also more affordable. Additionally, cooking at home and shopping at local markets can help you save even more.Lastly, while there are plenty of entertainment options in Geoje, some can be quite pricey. To stay within your budget, you might have to limit how often you go out for drinks or attend events. Instead, consider exploring the beautiful nature and outdoor activities that Geoje has to offer, like hiking or visiting the beaches.Overall, living comfortably on $5,000 a month in Geoje is definitely doable, but it will require some adjustments and smart budgeting. By choosing a more affordable neighborhood, using public transportation, eating at local restaurants, and enjoying low-cost activities, you'll be able to make the most of your time in Geoje without breaking the bank," commented an expat living in Geoje.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.


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