Cost of Living in Monaco

Summary: The cost of living in Monaco is quite high. A nice one bedroom apartment in Monaco can cost anywhere from $2,000 to $4,000 per month, while a nice two bedroom apartment can cost anywhere from $3,000 to $6,000 per month. The cost of dinner at a moderately priced restaurant in Monaco can range from $30 to $50 per person.

Is the cost of living in Monaco high?

We asked people how much they someone comfortably live on in Monaco, they wrote:

"The cost of living in Monaco is generally considered to be high. Prices for basic goods and services, such as groceries, transportation, and housing, are significantly higher than in many other countries. Monaco is known for its luxury lifestyle, and this is reflected in the cost of living. Eating out, entertainment, and other leisure activities can be expensive, but there are also many affordable options available," said one expat in Monaco.

CitizenM
Learn More

It's impossible to confuse citizenM with any other hotel. We don't look or sound like anyone else. Bold, vibrant, and artistic - that's us. Our rooms cater to modern travelers - enormous ultra-comfortable beds, unlimited free Wi-Fi and 24/7 food and drinks always waiting at canteenM. And best of all, our ambassadors are every guest's best friend.

CitizenM

Will I save money living in Monaco?

"Living in Monaco can be more expensive than living in the United States due to the high cost of living. Monaco is a small country with a high cost of living, and the cost of housing, food, and other necessities is significantly higher than in the United States. Additionally, Monaco has a high tax rate, which can further increase the cost of living. Despite the higher cost of living, Monaco offers a high quality of life and a unique cultural experience that may be worth the extra expense," said one expat in Monaco.

What is the average cost of housing in Monaco?

If you are thinking about moving to Monaco, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The cost of housing in Monaco is generally quite high, with the average price for a one-bedroom apartment in the city centre being around €2,000 per month. Prices for larger apartments and villas can be significantly higher," remarked one expat in Monaco.

Learn More

What are typical rental prices for expats in Monaco?

"The rental price for a nice 1 bedroom apartment in Monaco can range from around $2,000 to $4,000 per month, while a nice 2 bedroom apartment can range from around $3,000 to $6,000 per month," commented one expat who moved to Monaco.

What appliances are typically included in a rental?

We asked foreigners in Monaco what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"Rental properties in Monaco typically include a refrigerator, stove, oven, dishwasher, washing machine, and dryer. Additionally, some properties may include air conditioning, a microwave, and other small appliances," commented one expat who moved to Monaco.