| Apartment Rentals | The average cost of renting an apartment in Seoul is around $1,000 to $2,000 per month, depending on the size and location. The cost of renting a one-bedroom apartment in the city center is around $1,500 per month, while outside the city center it can be as low as $800 per month. |
| Apartment Purchases | The average cost of purchasing an apartment in Seoul is around $1,000 to $2,000 per square meter, depending on the size and location. The cost of purchasing a one-bedroom apartment in the city center is around $1,500 per square meter, while outside the city center it can be as low as $800 per square meter. |
| Transportation | The cost of public transportation in Seoul is very affordable. A single ride on the subway or bus costs around $1.50, while a monthly pass costs around $50. Taxis are also available and the cost of a ride is around $3.50. |
| Groceries | The cost of groceries in Seoul is relatively affordable. A typical grocery bill for a family of four can range from $50 to $100 per week, depending on the type of food purchased. Prices for basic items such as rice, vegetables, and fruits are generally lower than in other countries. |
| Restaurants | The cost of eating out in Seoul is relatively affordable. A meal at a mid-range restaurant can cost around $10 to $15 per person, while a meal at a high-end restaurant can cost around $30 to $50 per person. |
| Utilities | The cost of utilities in Seoul is relatively affordable. The average cost of electricity, water, and gas for a two-bedroom apartment is around $100 per month. Internet and phone services are also available and the cost is around $50 per month. |
| Private School Tuition | The cost of private school tuition in Seoul varies depending on the school and grade level. The average cost of tuition for preschool is around $2,000 per year, while the cost of tuition for elementary school is around $3,000 per year. The cost of tuition for middle school is around $4,000 per year, and the cost of tuition for high school is around $5,000 per year. |
Monthly Budget for Retirees in Seoul
“The cost of living in Seoul is generally considered to be quite high. Prices for basic necessities such as food, housing, and transportation are all relatively expensive compared to other cities in the region. However, the cost of living can vary greatly depending on the area of the city and the lifestyle of the individual. For those looking to save money, there are many affordable options available, such as shared housing and public transportation,” said one expat living in Seoul.
Can I live in Seoul on $1,500 a month?
“I’ve been living in Seoul for a few years now, and I can tell you that it’s possible to live on $1,500 a month, but you’ll have to make some sacrifices. First, you’ll need to find an affordable place to live. Some of the more expensive neighborhoods like Gangnam, Apgujeong, and Cheongdam might be out of your budget. Instead, consider looking for a place in more affordable neighborhoods like Sinchon, Hongdae, or Hapjeong. These areas are still quite lively and have a lot of things to do, but the rent is more reasonable.Next, you’ll need to be mindful of your spending on food and entertainment. Eating out at restaurants can add up quickly, so try to cook at home as much as possible. There are plenty of local markets where you can buy fresh produce and ingredients at a lower cost. When you do eat out, look for more affordable options like street food or local Korean restaurants instead of fancy international cuisine.Transportation in Seoul is relatively cheap, so you shouldn’t have too much trouble getting around on your budget. Stick to public transportation like the subway and buses, and avoid taking taxis or using ride-sharing apps, as they can be more expensive.As for entertainment, there are plenty of free or low-cost activities to enjoy in Seoul. Many parks, museums, and cultural sites offer free admission or have discounted rates for foreigners. You can also find affordable movie theaters, karaoke rooms, and other entertainment options if you look around.In summary, living on $1,500 a month in Seoul is doable, but you’ll need to be mindful of your spending and make some sacrifices. Stick to affordable neighborhoods, cook at home, and take advantage of free or low-cost activities to make the most of your budget,” commented an expat living in Seoul.
Can I live in Seoul on $3,500 a month?
“I’ve been living in Seoul for a few years now, and I can tell you that it’s definitely possible to live comfortably on $3,000 a month, but you’ll have to make some sacrifices and be smart about your spending. First, you’ll want to find an affordable neighborhood to live in. Some of the more expensive neighborhoods like Gangnam, Apgujeong, and Cheongdam might be out of your budget, so I’d recommend looking into areas like Hongdae, Itaewon, or Hapjeong. These neighborhoods are still trendy and have a lot of great restaurants and bars, but the cost of living is more reasonable.When it comes to housing, you’ll probably want to look for a one-room apartment or officetel, which are small studio apartments that are quite common in Seoul. These can range from $500 to $1,000 a month, depending on the location and amenities. You’ll also need to consider the deposit, which can be quite high in Korea, sometimes up to $10,000 or more. However, there are options with lower deposits if you search around.For transportation, the public transit system in Seoul is excellent and very affordable. A monthly subway and bus pass will only cost you around $60, and you can get pretty much anywhere in the city with ease. Taxis are also relatively cheap, but they can add up if you use them frequently.Eating out can be quite affordable in Seoul, especially if you stick to local Korean food. You can easily find meals for under $10, and even cheaper if you go for street food or kimbap shops. However, if you’re craving Western food or dining at more upscale restaurants, the prices can be much higher. To save money, I’d recommend cooking at home as much as possible and taking advantage of the local markets for fresh produce and ingredients.Entertainment and nightlife can also be a big expense, especially if you like going out to bars and clubs. Drinks can be pricey, so I’d recommend pre-gaming at home or finding bars with good happy hour deals. There are also plenty of free or low-cost activities to do in Seoul, like hiking in the nearby mountains, exploring the city’s many parks, or visiting museums and cultural sites.Overall, living on $3,000 a month in Seoul is doable, but you’ll need to be mindful of your spending and make some sacrifices. By choosing an affordable neighborhood, cooking at home, and finding low-cost entertainment options, you can still enjoy a comfortable and exciting life in this amazing city,” said one expat living in Seoul.
Can I live in Seoul on $5,000 a month?
“I’ve been living in Seoul for a few years 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.Firstly, you’ll want to consider the neighborhood you choose to live in. Some of the more expensive neighborhoods, like Gangnam, Apgujeong, and Cheongdam, might be out of your budget if you’re looking to save money. Instead, I’d recommend looking into more affordable neighborhoods like Mapo-gu, Seodaemun-gu, or even some parts of Yongsan-gu. These areas still have plenty of modern amenities and are well-connected to the rest of the city, but the cost of living is generally lower.In terms of housing, you might have to settle for a smaller apartment or even a one-room studio, depending on your preferences and needs. While this might not be ideal, it’s a sacrifice that many expats make in order to save money on rent. Additionally, you might have to forgo some amenities like a gym or pool in your apartment complex, as these can drive up the cost of rent significantly.When it comes to transportation, Seoul has an excellent public transportation system, so you can save money by using the subway and buses instead of relying on taxis or owning a car. This will not only save you money on transportation costs but also help you avoid the hassle of dealing with traffic and parking in the city.Eating out can be quite affordable in Seoul, especially if you stick to local Korean cuisine. However, if you’re craving Western food or more upscale dining experiences, the costs can add up quickly. To save money, try cooking at home more often and exploring local markets for fresh ingredients.Finally, while there are plenty of free or low-cost activities to enjoy in Seoul, you might have to be more selective about the events and attractions you attend. For example, you could prioritize visiting free attractions like parks and museums, and limit your spending on concerts, sporting events, or other more expensive activities.Overall, living comfortably on $5,000 a month in Seoul is definitely achievable, but it will require some sacrifices and smart budgeting. By choosing a more affordable neighborhood, downsizing your living space, and being mindful of your spending on food and entertainment, you can enjoy a comfortable lifestyle in this vibrant city,” commented an expat living in Seoul.
