Augsburg is ranked 29th out of 50 in a current list of the cheapest cities to live in Germany. The most recent cost of living data supports that the city is only slightly higher in cost than the median average for the EU. Depending on what the cost is, the range may be much lower than average, or begin at the median average price and go much higher.
Much of the higher cost will be dependent on the area of the city as well. Augsburg combines a business community that is on the higher end of the salary scale with the traditional low-income student population, so it can almost be like travelling to another country when you cross the inner boundaries of the city. Housing prices can range from €800 to €1200 a month for a studio apartment, which is not high by any one’s standards, but you should expect to pay more the closer you are to the university or the centre of the city.
It is important to look at the hidden cost of living when thinking through how best to manage your finances. While it is possible to get a much cheaper living arrangement further away from the universities and business center of the city, this now means that you are assuming the cost of transportation. When you add in that additional cost, a studio of €1000 near the center may not look so out of reach after all.
Another consideration is the price of utilities and food. Both are reasonable in the city, but Augsburg holds a range of restaurants and markets, your choice in dining and your choice in diet is going to significantly impact your monthly budget as well. For students on a stipend, this can be very important to look at closely as food only remains edible for so long. Again, examining the transportation costs between the market that may have what you want and where you choose to live should be added into your monthly food budget.
There is much you can do in Augsburg for entertainment that is free. Entertainment, such as theatre and cinema, that you pay for is on the slightly higher scale than average. As long as you choose your paid entertainment wisely, there is no reason not to be able to afford to do what you want to do.
Augsburg is affordable if you manage your money well. It can help to take the time to learn more about how to create a budget, especially if you are there to study. The financial needs and burdens of a student are much different than those of someone who is not engaged in study.
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