Cost of Living in Prague: Everything You Need To Know

Cost of Living in Prague: Everything You Need To Know

It’s finally time for you to move abroad. You have lived in the US long enough, and you really want a change of pace. But where to go?

You have heard so many good things about Europe – and various countries within this beautiful continent. So, how do you choose which one to call your new home?

There are numerous factors to take into consideration – the culture, the language, the environment, the climate, and the cost of living.

Trying to save some money and live a modest life while living abroad? London may not be your best bet. Instead, why not move to a beautiful city that has a river flowing through the middle, cheap beer, a beautiful castle, and a low cost of living? Sounds good, doesn’t it.

Let’s check out Prague, Czech Republic. The Czech Republic has one of the strongest economies in the entire European Union, and considered an affordable destination for ex-pats – including students who are on the budget of Ramen noodles.

Expats ranked Czechia seventh for the cost of living – out of a whopping 68 countries in the InterNations’ recent cost of living index calculation. This means it is in the top 10% for most affordable countries for ex-pats to settle down in.

So, let’s dive a little deeper about the pricing of living in Prague…

Overall Costs

Prices for necessary factors like education, housing, hotels, and recreation are about average when ranked on a global scale – and much cheaper than those living in countries like France, Switzerland, and the UK.

However, the prices are low when compared to other countries in regard to health care, transportation, and communication costs, like cellphones and internet subscriptions.

Worried about spending all of your money at the local Lidl? Costs for alcohol, groceries, and tobacco are exceptionally low compared to other countries in the EU, meaning you won’t have to worry about spending your entire paycheck on food.

Housing

Despite housing shortages in various areas, especially the Old Town of Prague, causing rent prices to climb, you can still find available and affordable housing by looking online or in the local newspapers with help from Czech-speaking locals.

Living in Prague is, unfortunately, higher than elsewhere in the country, although you can find much cheaper rents in the higher zones of Prague, such as Reporyje or Prague 7 and 8.

The average price of an apartment in the city center is about $900 – this is very good compared to some other capital cities, like London, where the price of an apartment costs upward of $3,500 in central London.

If you are trying to save some money, look outside of the city center – this penny-pinching move will save you around $250 per month.

Transportation

This is where it gets good – transportation is unbelievably cheap in this capital city. No wonder over 1 billion people use Prague’s transport system each year. It is a comprehensive network that covers even the farthest of suburbs, comprised of trams, bus lines, and metros.

If you fancy getting outside on a nice day, cycling is popular in the city. Finding an affordable bike should be easy, using used-item websites like the Prague equivalent of Craigslist – or Craigslist itself.

Restaurants

If you decide to treat yourself on a weekday evening or a special weekend date, having meal for 2 people at a mid-range restaurant in the city costs about $32 – which is very affordable considering a mid-range restaurant would offer 3 courses.

For the more regular meal, eating at McDonalds is only going to run you about $6 – the cost of a pint in London.

Going for a beer after work? Drinking is super cheap in this city. College students, rejoice. A 1 pint draught is only $1.69, while an imported beer is only 40 cents more. No wonder beer gardens and bars are so popular here – and always crowded.

Groceries

Regarding the traditional staples in a grocery store, you have no need to worry. You can definitely get your entire week’s worth of food for less than $20 if you pay attention to prices.

One gallon of milk is $3, a loaf of bread is $1, a pound of rice is only 80 cents, eggs are $2, cheese is $4, and chicken is $3. This only comes out to around $14 for a lot of food.

Vegetables and fruits are cheap as well. A pound of apples, bananas, oranges, tomatoes, potatoes, or onions, are all less than 70 cents each. Eating healthy doesn’t have to be expensive in this city!

Utilities

You have finally found your own apartment or a room share – and it’s your turn to chip in on the utilities. If you have your own place, a month’s worth of utilities, including electricity, heating, cooling, water, and garbage, is approximately $200 or less for a 900 square foot apartment.

Need to pay for internet for your place? I mean, how else are you supposed to watch Bachelor in Paradise and the latest sports game? No worries – this will only run you $21.

Shopping

A pair of Jeans – like a really nice, Levi pair of jeans – will cost you around $75. This may sound expensive, but when compared to the fact that you can find Levi 501s in a thrift store in the United States for around $150, $75 sounds like the best deal I have ever heard.

Nice, high-end business shoes will cost about $100. However, if you are going to be wearing these every day for work, they will definitely get their fair share of wear. Similar to these are Nike running shoes. If you wear these every time you work out, the $80 price tag is extremely affordable.

No wonder so many ex-pats flock to this vibrant, fun, colorful, and exciting city – not only is there so much to do in your free time, but you will never have to worry about making ends meet with these affordable prices!