Cost of Living in Finland in 2024

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Are you thinking of moving to Finland? 

Whether you’re drawn by its pristine natural beauty or its high standard of living, understanding the cost of living in Finland is essential.

Finland consistently ranks among the top countries in terms of quality of life. This reflects its exceptional standard of living. Furthermore, this is complemented by the high salaries that graduates typically earn after securing employment.

Not only does Finland offer a robust social security system and top-notch public services, but its cities also boast some of the highest safety and cleanliness standards in the world. For instance, Mercer’s 2023 Quality of Living Survey ranked Helsinki 34th globally for quality of life, citing its excellent infrastructure, healthcare, and education systems.

As you embark on this exciting adventure in Finland, it’s important to understand your potential monthly expenses.

This guide will help you navigate the cost of living in Finland. From housing to groceries and transportation to entertainment, this guide will help you navigate the financial landscape of the cost of living in Finland.

Cost of Living in Finland – Key Highlights

AspectDetails
Average Finland Monthly ExpensesINR 80K – INR 2L for single person per month
Housing CostsINR 53K – INR 1L for a one-bedroom apartment in Helsinki
UtilitiesINR 8K – INR 18K per month for basic utilities (electricity, heating, cooling, water, garbage)
GroceriesINR 27K – INR 45K per month for an average household
Public TransportationINR 4K – INR 9K per month for a monthly public transport pass
Dining OutINR 1K – INR 2K for a meal at an inexpensive restaurant; INR 5K – INR 7K for a three-course meal for two
EducationINR 5L – INR 16L per year for non-EU students
HealthcarePublic healthcare covered by national health insurance; private insurance INR 4K – INR 9K per month
InternetINR 1K – INR 3K per month for a 60 Mbps or more broadband connection
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Why Choose Finland?

  • World-Class Education: Finland boasts a globally recognised education system known for its high academic standards and innovative teaching methods, making it an ideal destination for international students.
  • Affordable Tuition Fees: Compared to other European countries, Finland offers competitive tuition fees, especially for non-EU students. Many programs offer scholarships and financial aid.
  • High Quality of Life: Finland consistently ranks high in global quality of life indices, offering residents a safe, clean, and well-organised environment. The country’s commitment to sustainability and green living enhances the overall experience.
  • Student-Friendly Environment: Finnish cities provide a welcoming and supportive environment for students, with numerous amenities, cultural activities, and vibrant student communities.
  • Focus on Research and Innovation: Finland is a hub for research and innovation, offering students opportunities to engage in cutting-edge projects and collaborate with leading industry professionals.
  • Robust Healthcare Services: The country boasts a comprehensive healthcare system, ensuring access to quality medical care for all residents. Public healthcare is well-regarded, with private options also available for additional comfort and convenience.
  • Safety and Stability: Finland is known for its low crime rates and political stability, providing a secure environment for residents. This aspect is particularly appealing for families and professionals.
  • Pathways to Employment: Graduating from Finnish institutions opens doors to excellent career prospects, both within Finland and internationally, thanks to the country’s strong economy and global business connections.

Finland living expenses – Housing Cost

Understanding the cost of living in Finland is crucial for Indian students planning to study there. Housing expenses are a significant part of the budget.

Here’s a detailed look at rental and purchase prices, affordable housing options, urban-rural cost variations, and additional expenses specifically for international students.

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Cost of Living in Finland in 2024

Top 5 Cities in Finland

The housing market in Finland varies widely, particularly between Helsinki and other cities. For international students, this comparison provides a clearer picture of Finland’s living expenses, helping you make informed decisions.

CityRent (1-bedroom apartment)Purchase Price (per sq. metre)
Cost of Living in HelsinkiINR 90 K- INR 1LINR 5L – INR 7L
EspooINR 89 K- 1LINR 4L – INR 6L
TampereINR 71 K- 98 KINR 3L – INR 5L
OuluINR 53 K- 71 KINR 2L – INR 4L

Affordable Housing Options: Student Housing Foundations and Shared Apartments

For Indian students looking for more affordable housing options, there are several avenues to explore. These options can significantly reduce the cost of living in Finland.

  • Student Housing Foundations: Organisations like HOAS provide student housing at significantly lower rates, typically ranging from INR 22K to INR 44K per month.
  • Shared Apartments: Renting a room in a shared apartment can cost between INR 26K and INR 53K per month, making it a budget-friendly option.
  • Co-Living Spaces: Modern co-living spaces offer furnished rooms with shared amenities, starting at around INR 35K per month.
Cost of Living in Finland

Significant Variation in Costs Between Urban and Rural Areas

The cost of living in Finland varies significantly between urban centres like Helsinki and rural areas. Understanding these differences can help you choose the right location to live.

AreaRent (1-bedroom apartment)Purchase Price (per sq. metre)
Urban (Helsinki)INR 82K – INR 2LINR 5L – INR 8L
Suburban (Espoo)INR 89K – INR 2LINR 4L – INR 7L
RuralINR 35K – INR 53KINR 1L – INR 2L

Additional Housing Expenses: Electricity, Home Insurance, and Deposits

When calculating the cost of living in Finland per month, it’s essential to include additional housing expenses. These can add up quickly and impact your overall budget.

  • Electricity: Average monthly cost is INR 4K – INR 9K
  • Home Insurance: Typically costs INR 890 – INR 3K per month.
  • Deposits: Usually one to three months’ rent, depending on the lease agreement.

Cost of Living in Finland for Indian Students

Choosing Finland for your higher education is a decision that promises rich academic and cultural experiences. However, for Indian students, it’s crucial to be well-informed about the cost of living in this Nordic nation to ensure a smooth and financially manageable stay.

Finland is celebrated for its world-class education system, safe environment, and high quality of life. These benefits, however, come with costs that can significantly impact your budget if not planned for properly.

Understanding the financial requirements of living in Finland goes beyond just knowing the average prices. It involves comprehending the nuances of everyday expenses, such as the cost of local transportation, the price of dining out, and the seasonal variations in utility bills. 

By familiarising yourself with these aspects, you can make informed decisions that enhance your study experience and allow you to enjoy everything Finland has to offer without unnecessary financial stress.

Average Prices for Basic Grocery Items

ItemAverage Price (INR )
Milk (1 litre)INR 98
Eggs (12)INR 223
Bread (500g)INR 178

Monthly Costs for Energy, Water, Internet, and Mobile Plans

UtilityAverage Monthly Cost (INR )
EnergyINR 4K
WaterINR 2K
InternetINR 3K
Mobile PlanINR 2K

Costs of Bus Passes, Petrol Prices, and Electric Car Charging

ExpenseAverage Cost (INR )
Monthly Bus PassINR 4K – INR 5K
Petrol (1 litre)INR 160.20
Electric Car ChargingINR 17.80 per kWh

Tuition Fees for Higher Education for EU and Non-EU Citizens

CategoryEU/EEA StudentsNon-EU/EEA Students
Bachelor’s ProgramsFreeINR 5L – INR 9L per year
Master’s ProgramsFreeINR 8L – INR 16L per year
Doctoral ProgramsFreeTypically free, but may have minor fees

Top Universities in Finland with their Tuition Fees

Considering higher education in Finland? This Nordic nation boasts a world-class education system, consistently ranking high for academic excellence and innovation. Finnish universities attract international students with their strong programs, cutting-edge research facilities, and focus on practical learning. 

However, for non-EU/EEA students, tuition fees can be a significant factor. Here’s a breakdown of some of Finland’s top universities along with their tuition fees for international students.

UniversityPrograms OfferedTuition Fees for Non-EU Students (per year)
University of HelsinkiHumanities, Science, Law, MedicineINR 9L – INR 16L
Aalto UniversityEngineering, Business, Arts & DesignINR 10L – INR 14L
University of TurkuScience, Business, Law, HumanitiesINR 6L – INR 11L
Tampere UniversityTechnology, Health, Social SciencesINR 5L – INR 11L
University of OuluEngineering, Business, MedicineINR 9L – INR 13L
LUT UniversityTechnology, BusinessINR 8L – INR 12L
University of Eastern FinlandEducation, Health, Social SciencesINR 7L – INR 10L
Hanken School of EconomicsBusiness, EconomicsINR 9L – INR 14L

Managing the Cost of Living in Finland

Cost of Living in Finland

Navigating the cost of living in Finland requires a strategic approach to ensure financial stability and a comfortable lifestyle. From accommodation expenses to daily necessities, understanding how to manage your finances effectively is crucial for residents and expatriates alike. 

By implementing practical budgeting strategies, making informed choices about expenses, and seeking opportunities to save, individuals can optimise their spending habits and make the most of their resources in this Nordic country. 

Effective Budgeting Strategies for Affordable Living

  • Create a detailed budget outlining your monthly income and expenses
  • Prioritise essential expenses like rent, utilities, and groceries.
  • Allocate a portion of your income to savings and emergency funds
  • Use budgeting apps or spreadsheets to track your spending and identify areas for improvement

Tips for Saving on Accommodation, Groceries, and Transport

  • Consider shared accommodation or student housing to reduce rent costs
  • Shop at budget-friendly grocery stores and plan meals to minimise food expenses
  • Opt for public transportation or cycling to save on commuting costs
  • Look for discounts, loyalty programs, and second-hand options for furniture and clothing

Encouragement for Distinguishing Between Necessary and Discretionary Spending

  • Differentiate between needs and wants to prioritise essential expenses
  • Limit impulse purchases and unnecessary luxuries to stay within budget
  • Practise mindful spending by evaluating the value of each purchase
  • Set financial goals and reward yourself for achieving savings milestones

Conclusion

Convinced by Finland’s natural beauty, top-ranked universities (think the cost of living in Finland for Indian students!), and exceptional quality of life (but maybe worried about the cost of living in Helsinki?), you’re not alone.

While Finland might have a higher price tag than some countries, it offers a strong social safety net, excellent public services, and a culture that prioritises well-being.

The good news is that Finland caters to various budgets. From affordable student housing options (perfect for those curious about the cost of living in Finland for a single person) to cost-saving strategies like public transportation (intrigued by the monthly expenses in Finland?), navigating life here is achievable.

Frequently Asked Questions

  • Q. Is Finland expensive to live in?

    A. Finland can initially seem pricey, especially compared to some parts of Asia. But there’s a reason for that! Finland consistently ranks high for its quality of life, with an excellent education, a strong social safety net, and stunning natural beauty. While the sticker shock might be real, the value you receive in return is significant. By creating a budget and exploring affordable housing options like shared apartments or student housing, you can manage your cost of living in Finland effectively.

  • Q. How much does it cost to live in Finland per month?

    A. The monthly cost of living in Finland varies depending on your lifestyle choices and the city you live in. Generally, expect a range of INR 80K to INR 2L for a single person and INR 2L to INR 4L for a family of four (cost of living in Finland per month). Accommodation is a major expense, so finding affordable options is key. Consider location – Helsinki will likely be pricier than smaller towns.

  • Q. What is the cost of living in Finland for a single person?

    A. The cost of living in Finland for a single person can range from INR 80K to INR 2L per month (cost of living in Finland for single person). This depends on your lifestyle choices, including accommodation (a major expense), food, transportation, and entertainment. By exploring affordable housing options like shared apartments and utilising public transportation, you can keep your costs down.

  • Q. Which are the popular courses to study in Finland?

    A. Finland offers a wide range of programs in various fields. Some popular choices for international students include:
    -Business & Management
    -Engineering & Technology
    -Information & Communication Technology (ICT)
    -Environmental Sciences
    -Social Sciences & Education

  • Q. What are the top universities?

    A. Finland boasts several world-renowned universities, including:
    -Aalto University
    -University of Helsinki
    -Tampere University
    -University of Turku
    -Åbo Akademi University

  • Q. What is the cost of living in Finland for an Indian family?

    A. The cost of living for an Indian family in Finland can range from INR 2L to INR 4L per month (cost of living in Finland for an Indian family). This depends on factors like the number of family members, their ages, and lifestyle choices. Accommodation will be a significant expense, so finding a family-friendly apartment in a budget-conscious location is crucial. Remember, with careful planning and budgeting, Finland can be a comfortable place to raise a family.

  • Q. Is Finland a good place for Indian students?

    A. Finland is a fantastic option for Indian students! The Finnish education system is top-notch, with free tuition for EU students and scholarships available for non-EU students (cost of living in Finland for Indian students). The safe and clean environment makes it an attractive destination. While the living costs might seem high, remember there are ways to manage them. Student housing, shared apartments, and co-living spaces offer significant savings on rent, especially in major cities. Additionally, public transportation and planning your meals can help keep your monthly expenses in check.

  • Q. What are some affordable housing options for students in Finland?

    A. Students in Finland can find affordable housing through various options designed to fit their budget. Student housing foundations like HOAS provide accommodations at significantly lower rates compared to private rentals. Shared apartments are another popular choice, where students can share living spaces and split costs. 
    Additionally, modern co-living spaces offer furnished rooms with shared amenities, which can be more budget-friendly. These options help students manage their expenses while enjoying a comfortable living environment.

  • Q. What makes Finland an attractive destination despite its high living costs?

    A. Finland is known for its high quality of life, excellent public services, and safe living environment, making it an attractive destination despite its higher living costs. The country’s education system is world-renowned, offering excellent opportunities for both local and international students. Finland also boasts a robust healthcare system, beautiful natural landscapes, and a strong focus on sustainability. These factors, combined with a well-functioning social security system, make Finland a desirable place to live, work, and study.

  • Q. Can international students work part-time in Finland?

    A. Absolutely! International students in Finland with a valid residence permit can typically work part-time. This generally allows for around 25 hours per week during semesters, giving you valuable work experience alongside your studies. During university breaks, you can even work full-time if needed. Working part-time offers a fantastic opportunity to not only gain practical skills and boost your resume but also improve your Finnish language proficiency by interacting with colleagues and customers.

  • Q. How much do students earn in Finland?

    A. The wages for part-time student jobs in Finland can vary depending on several factors. The specific industry you work in, your level of experience, and even the location of your job can all play a role. Generally, you can expect to earn somewhere in the range of INR 800 to INR 2K per hour.

  • Q. Is Finnish difficult to learn?

    A. Finnish is a complex language belonging to the Finno-Ugric language family, distinct from most European languages. However, Finnish universities offer language courses to help international students adjust. Additionally, resources and apps are available to support your learning journey.


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Saket Kohli

An International Higher Ed professional with 7+ years of experience studying, working, and living across three geographies, currently on a mission to share his journey as an International Student.

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