How much does it cost to live in Seoul

Housing

Rent:

500,000 won per month 

Like other countries, rent varies depending on factors like location, room type, and more. Single students or workers usually stay in a oneroom, or a share house, and rent would range from 300,000 won ~ 800,000 won. Areas near universities, like in Sillim or Daehakdong tend to be cheaper, whereas places near Gangnam tend to be more pricey (may even reach 1,500,000 per month).

 

Maintenance fee:

30,000~90,000 won

This fee usually covers building maintenance like for elevators, hall cleaning, trash sorting, repairs, etc.

 

Deposit:

3,000,000~50,000,000 (may reach higher values for Cheonse)

You only pay this amount once, upfront when you make the housing contract. This is not part of the regular expenses, but still something to consider. The higher the deposit, the lower the monthly rent can go. Nicer or newer houses also tend to ask for higer deposits. Cheonses in particular ask for at least 100,000,000 won.

Monthly Bills:

Electricity:

20,000~80,000 won per month

Electric bills would be higher during the summer due to aircon use. Some buildings or officetels would divide the entire floor's electric bill equally, so regardless of your actual use, everyone in your floor will pay for the same amount. Most onerooms would have individual meters, so you only pay for the electricity that you used.

 

Gas Bill:

3,000~50,000 won

Just like the electric bill, this would vary depending on the season. Some people just pay for the basic fee during summer, then have a spike during winter because of all the ondol and heater use.

 

Water Bill:

Water bills are usually covered by the landlord, but this tends to be on the lower side not higher than 20,000 won.

 

Phone Bill:

15,000 won per month

You can be flexible with this as it is not a necessity. Cheaper plans can go as low as 2,500 per month, or 16,000 won with unlimited data. Most people would pay around 30,000 won per month for unlimited calls, messages, and data.

 

Internet Bill: 

This also varies per location and provider. However, this would range from 10,000~30,000 won per month.

Daily Expenses

Food: 

300,000 won per month

a meal outside for one person ranges from 6,000~20,000 won. Grocery shopping would be estimated 250,000~400,000 per person per month. Assuming that you eat outside at least once a day (6,000 per meal), then eat at home for the rest of the meals (40,000 per week), you would spend an estimate of 340,000 won per month.

 

 

Transportation: 

70,000 won per month

The basic fare for buses and trains start at 1,500 won. If you take public transportation twice a day for all the work days, this would amount to around 70,000 won. 

Other:

Health Insurance:

National Health Insurance is now a requirement for all foreigners living in Korea (long-term). If you are employed, the contribution rate is 7.09% of your salary, and you share 50% of the cost with your employer. This is around 71,000~120,000 won per month. If you are self-employed, it is around 208,400 won per month.

 

Other: 50,000 won

 

Total Expenses per month (based on lifestyle)

• Minimized spending:  819,000 won per month per person
  • Bare minimum spending but still not depriving yourself.
• Small splurges: 1,100,000 won per month per person
  • Spending a bit more on comfort but still not spending on unneccesary things.
• Comfort spending: 1,710,000 won per person per month
  • Spend a bit more on nicer accommodations, and a few more wants.