Cost Of Living In Frankfurt For Students: Guide 2024 – UniAcco

Frankfurt, located in the centre of Germany, is a dynamic combination of academic quality, cultural vibrancy, and economic strength. The city draws students worldwide since it has prestigious universities and a wide range of educational options. A well-rounded educational experience is guaranteed by the country’s broad educational environment, which includes fields like the arts and sciences. This blog will discuss the cost of living in Frankfurt as a student, including information on housing, food, transportation, tips to plan a budget and much more. 

What Is The Average Monthly Cost Of Living In Frankfurt?

The average monthly cost of living in Frankfurt for students is estimated to be €1,641 per month for off-campus, while on-campus accommodation approximately costs €1,561 monthly. 

Student Accommodation In Frankfurt

From modern studios with skyline views to cosy shared apartments, find your ideal living space while pursuing your studies. Experience comfort, convenience, and a thriving student community in the heart of this dynamic German city. Following is the breakout of the monthly cost of living in Frankfurt for students, locations where most students stay, and popular student accommodations in Frankfurt.

Best Places To Stay In Frankfurt

• Offenbach: Just across the river, it offers affordable housing and a lively atmosphere.
• Darmstadt: Known for its technical university and creative vibe, Darmstadt is a short train ride away.
• Wiesbaden: Enjoy its elegant charm, hot springs, and cultural events while staying close to Frankfurt.
• Mainz: Experience history, vibrant student life, and a relaxed Rhine riverfront ambience in this nearby city.

To gain a clear insight into accommodation abroad, contact UniAcco. UniAcco is a global student accommodation leader offering premium housing near the top universities in Frankfurt. With UniAcco, you can easily compare, consult with other students, and select your dream housing, all at affordable prices.

Tuition Fees

Frankfurt is a great city for international students who want to experience a modern, cosmopolitan, diverse environment. Frankfurt is home to some of the best universities in Germany, such as Goethe University, Technical University and Frankfurt School of Finance and Management. 

The Frankfurt School of Finance & Management is famous for its top-notch courses, while the University of Applied Sciences concentrates on practical education. Europa University and the University of Music and Performing Arts support creative talent development. As per the analysis of Upgrand, the following are the top universities of Frankfurt with average tuition fees and QS World ranking 2023-23.

Food Cost

Frankfurt is a bustling, multicultural city with a wide range of food outlets. The following information and advice will assist you in creating a food budget for Frankfurt:

• Dining out in Frankfurt can be pricey, with an average cost of €45 for a dinner for two in a typical restaurant. The average cost of food monthly is estimated at €540.
• Lunch at smaller eateries ranges between €8 and €14, while desserts or beverages come at higher prices.
• Local German beer costs around €4 for half a litre, and a cappuccino is priced at € 3.19.
• Standard restaurant meals typically range from €15 to €25, often accompanied by affordable beer.
• Tipping around 10 per cent is customary, and budget-conscious individuals may need to limit eating out.
• Groceries are relatively inexpensive, with an average budget of €200 per month for most residents.

Famous Food In Frankfurt

1. Frankfurter Würstchen: These thin, flavorful sausages are a staple of Frankfurt’s cuisine, often served with mustard and bread.
2. Apfelwein: A traditional apple wine, known locally as “Ebbelwoi,” is a refreshing and popular beverage in Frankfurt.
3. Grüne Soße: This green herb sauce is made from seven different herbs and is often served with potatoes or eggs.
4. Handkäse mit Musik: A pungent local cheese dish, typically marinated with onions, caraway seeds, and vinegar.
5. Bethmännchen: Marzipan and almond-based cookies shaped like little men, commonly enjoyed during the holiday season.

Cost Of Transportation

If you are planning to visit Frankfurt, you might be wondering how much it costs to get around the city by public transportation. Following is the breakdown of the average transportation cost and modes of transportation available in Frankfurt for students to commute with ease. 

• Frankfurt’s robust public transportation system, including metro, trams, and buses, ensures easy citywide travel. The average monthly cost of transportation will cost around €90.
• Consider purchasing monthly or annual passes (€87.40 for adults) to save on daily transport costs.
• Car ownership is unnecessary due to excellent public transit, and parking spaces are scarce and costly.
• The Rhine-Main Transport Association (RMV) and Frankfurt Transport Authority (VGF) manage the efficient public transport network.
• Explore downtown conveniently with Park & Ride (P+R) car parks, accessible from entry roads, providing seamless bus and train connections.

Healthcare Facilities In Frankfurt

For students, healthcare in Frankfurt is a key factor. In Germany, public or private health insurance is mandatory, with monthly costs ranging from €200 to €350. 15.7% of your pay goes into public health insurance, often split with your employer. Family members are automatically insured, including wives and kids. Those who are self-employed or make more than €4,800 monthly may choose private insurance. Although it could be less expensive, private insurance has its own quirks. 

Entertainment And Utility Costs

Exploring leisure and utility expenditures in Frankfurt demonstrates a realistic approach to balanced living costs. Understand the basic utility and entertainment charges in Frankfurt mentioned below.

• Internet: Setting up internet in your rental may cost around €30 per month, with potential additional charges for setup and a modem.
• Phone: Phone plans for calls, texts, and data could range from €20 to €30 per month, assuming you have an unlocked phone.
• Night Out: Enjoying a typical night out in Frankfurt might cost around €50 to €60, with a vibrant expat community offering various cultural and entertainment events.
• Broadcast Tax: Germany has a broadcast tax (Rundfunkbeitrag) of €17.50 per household per month, applicable even if you don’t use a TV or radio.
• Utility Costs: Monthly utility expenses, including electricity, heating, cooling, water, and garbage, can average around €332.04.
• Fitness Club: Expect to pay about €45.57 as a monthly fee for a fitness club.

Tips For Planning The Budget

Planning a budget is crucial for managing your finances effectively. Here are some effective tips to help you plan your budget to live in Frankfurt:

• Before you arrive, research the cost of living in Frankfurt. To establish reasonable expectations, do some research on the costs of lodging, food, and other expenses.
• The cost of living in Frankfurt for a single person varies due to different factors. It is advisable to budget for accommodation, transportation, food, entertainment, and savings, among other things. Give each group a share of your money.
• To reduce living expenses in Frankfurt of commuting, utilise Frankfurt’s effective public transportation system. 
• Although dining out might be appealing, cooking at home is more cost-effective. Look through your neighbourhood markets for fresh food and supplies.

Conclusion

Managing the cost of living in Frankfurt demands careful planning and taking into account a range of costs, from lodging and transportation to food and entertainment. Frankfurt is desirable for students and professionals, despite certain expenses being greater than others. This is due to the city’s dynamic lifestyle, world-class universities, and wide range of options.

FAQs

Q1. Is it worth moving to Frankfurt?

Ans: Yes, Frankfurt provides a unique combination of academic brilliance, job opportunities, and cultural experiences, making it a rewarding decision for many.

Q2. What are the benefits of living in Frankfurt, Germany?

Ans: Frankfurt has world-class colleges, a booming employment market, efficient public transit, and a vibrant cultural environment.

Q3. What is Frankfurt famous for?

Ans: Frankfurt is renowned as a major financial hub, hosting the European Central Bank and boasting a stunning skyline with its vibrant arts and culinary scene.

Q4. Do they speak English in Frankfurt?

Ans: Yes, Frankfurt has a large English-speaking population, particularly in the business and intellectual communities.

Q5. What is the cost of living in Frankfurt, Germany?

Ans: Frankfurt’s cost of living might vary, although it is often greater than other German cities due to its economic importance and active lifestyle.

Thank you for reading about the “Cost of Living in Frankfurt.” If you’re interested in exploring more articles on related topics, we recommend checking out the below articles:

• Universities with the highest acceptance rate in Germany
• MBBS in Germany
• Easiest Universities to get into in Germany