Cost of Living in Hungary 2024: Living Expenses in Budapest & Debrecen

Dreaming of studying abroad but worried about the high costs? Hungary can be your knight in shining armour!

From rent to textbooks, this guide will explain the cost of living in Hungary so you can plan your budget effectively. Whether you’re budgeting tightly or indulging in extra textbooks, Hungary caters to every student — and your wallet will appreciate it! 

In fact, the country boasts a robust and diverse economy, ranking as the 53rd-largest economy in the world. With a high human development index of 0.851, Hungary offers a stable and promising environment for students. Its skilled workforce and low income inequality further enhance its appeal.

Come find the answers to all your questions about the cost of living in Hungary.

Key Highlights

Before you get into the details, here’s a quick overview of the key points covered in this blog.

Parameters	Details
Average Cost of Living in Hungary Per Month	INR 57k (2,50,457 HUF) excluding rent
Avg Monthly Rent in City Centre	INR 7k – INR 59k (30,000 HUF – 2,50,000 HUF)
Avg Monthly Transportation Cost	INR 2k – INR 5k (10,000 HUF – 20,000 HUF)
Avg Annual Tuition Fees	INR 4L – INR 12L (5,00,000 HUF – 1,500,000 HUF)
Top Universities in Hungary	Eötvös Loránd University University of Szeged University of Debrecen
Scholarships to Reduce the Cost of Living in Hungary	Stipendium Hungaricum Hungarian Diaspora Scholarship Bilateral State Scholarships
Average Annual Salary in Hungary Post-Graduation	INR 48L – INR 3Cr (5,90,000 HUF – 33,50,000 HUF)
Student Visa in Hungary	Type D Student Visa Processing Time: 1-2 months Fee: INR 7k – 15k (30,000 HUF – 65,000 HUF)

Cost of Living in Hungary for Students

Hungary is a popular destination for international students due to its affordable, high-quality education. Universities here offer many English-language programs, making them accessible to students worldwide. Understanding the cost of living in Hungary is crucial for effective budgeting and financial planning. 

Hungary ranks 41st in the world in terms of GDP per capita. This means you can expect a good quality of life at a relatively low cost. Budgeting your expenses will ensure you can focus on your studies without financial stress.

The cost of living in Hungary is lower compared to many Western European countries. You’ll find that accommodation, food, and transportation are reasonably priced, which can significantly reduce your overall expenses. In fact, estimates suggest the average monthly cost of living in Hungary is around INR 57k (250,457 Hungarian Forint) excluding rent.

Here’s what the cost of living in Hungary for Indian students looks like in comparison to the USA, UK, and Australia.

Country	Annual Cost of Living (SANS Tuition Fees)
Hungary	INR 6L – INR 7L (HUF 648,000 – HUF 810,000)
USA	INR 15L – INR 20L (USD 18,000 – USD 24,000)
UK	INR 12L – INR 17L (GBP 12,000 – GBP 16,800)
Australia	INR 11L – INR 15L (AUD 18,000 – AUD 24,000)

See the difference? Are you convinced that the cost of living in Hungary is much lower than in many other countries? Then, let’s take you through the cost breakdown and discuss everything in detail. 

But before the cost breakdown, you need to understand the details about the Hungarian Forint (Hungary’s currency). Have a look.

Understanding the Hungarian Forint (HUF)

Hungary’s currency is the Hungarian Forint (HUF), used in all daily transactions. 

Understanding how HUF compares to major world currencies like the US Dollar (USD) and the Euro (EUR) is essential. This knowledge helps you manage your finances effectively while studying or living in Hungary.

Here’s a comparison of the Hungarian Forint with the US Dollar, Euro and INR to give you a clear picture.

Currency	Exchange Rate (Approx.)
1 USD	350 HUF
1 Euro	375 HUF
1 INR	4.5 HUF

Exchanging large sums of money at airports or tourist spots often comes with hefty fees. Here are some tips for savvy student explorers:

• Open a multi-currency account: Services like Wise’s Borderless account allow you to hold and manage different currencies in a single account. This can be a great way to avoid exchange rate fluctuations and get better rates when converting your money.

• Use travel-friendly debit cards: Look for debit cards with low or no foreign transaction fees. This can save you money on everyday purchases made in Hungary.

• Budget in Hungarian Forint: Once you understand the exchange rate better, try budgeting your expenses in Hungarian Forint. This will help you stay on track and avoid overspending.

Why does this matter for your cost of living in Hungary, you ask? Knowing the currency and exchange rates helps you budget effectively. Before you travel, you can research the current exchange rate between your home currency and HUF.

For example, if you see a meal advertised for 3,500 HUF, using the exchange rate above, you can estimate it would cost roughly INR 777 (3,500 HUF * 0.045 INR/HUF). This can help you plan your daily spending and avoid surprises when managing your student budget in Hungary.

That said, let’s now walk you through the breakdown of the cost of living in Hungary in detail.

Accommodation Cost in Hungary

Whether you prefer a city life or a quieter town, there are plenty of accommodation options that fit your needs and budget. The cost of living in Hungary can vary depending on where you live and the type of accommodation you choose. 

Here’s a general breakdown of the monthly accommodation costs for dormitories, shared flats, and private flats.

Accommodation Type	Monthly Cost of Living in Hungary for International Students
Dormitory	INR 7k – INR 16k (30,000 HUF – 70,000 HUF)
Shared Flat	INR 14k – INR 36k (60,000 HUF – 1,50,000 HUF)
Private Flat	INR 21k – INR 59k (90,000 HUF – 2,50,000 HUF)

The cost you’ll pay depends on your lifestyle preferences.

• Dormitory life: On a tight budget? Dorms are your best bet! They’re the most affordable option and a great way to meet fellow students and build friendships. Think late-night study sessions and pizza parties in shared kitchens!

• Shared flats: Craving a bit more privacy but still want to keep things social? Shared flats offer the perfect middle ground. You’ll split the rent with roommates, so it’s easier on your wallet, and you’ll still have plenty of opportunities to connect with others.

• Private apartments: Looking for ultimate independence and your own space to unwind? Private flats offer the most comfort and privacy but naturally come with a higher price tag.

Feeling overwhelmed by the details of studying abroad? Leap Scholar can help you find the right colleges and scholarships! Talk to our counsellors!

Accommodation Costs in Budapest

Budapest, Hungary’s vibrant capital, is known for its rich history, stunning architecture, and lively cultural scene. 

As the country’s political, economic, and cultural hub, it offers numerous opportunities for students. Budapest living expenses are relatively affordable compared to other European capitals, making it a popular choice for international students. The cost of living in Budapest per month includes affordable housing options, extensive public transportation, and a variety of cultural activities. 

This table shows the estimated cost of living in Budapest per month in dormitories, shared flats, and private flats.

Accommodation Type	Monthly Cost of Living in Budapest
Dormitory	INR 9k – INR 16k (30,000 HUF – 70,000 HUF)
Shared Flat	INR 18k – INR 36k (60,000 HUF – 1,50,000 HUF)
Private Flat	INR 27k – INR 59k (90,000 HUF – 2,50,000 HUF)

Accommodation Costs in Debrecen

Debrecen, Hungary’s second-largest city, is renowned for its vibrant student life and historical significance. Known as the “Calvinist Rome”, it boasts numerous universities and a lively cultural scene. 

The cost of living in Debrecen for students is lower than in Budapest, making it an excellent option for those looking to balance quality education with affordability. 

Debrecen is famous for its annual Flower Carnival and beautiful Great Forest Park. The city offers a friendly and welcoming environment, with plenty of student-friendly amenities and a strong sense of community.

This table shows the estimated monthly costs for dormitories, shared flats, and private flats in Debrecen. 

Accommodation Type	Monthly Cost of Living in Debrecen
Dormitory	INR 7k – INR 14k (30,000 HUF – 60,000 HUF)
Shared Flat	INR 14k – INR 29k (70,000 HUF – 1,20,000 HUF)
Private Flat	INR 21k – INR 43k (1,20,000 HUF – 2,00,000 HUF)

Accommodation Costs in Szeged

Szeged, often referred to as the “City of Sunshine” due to its sunny weather, is located on the banks of the River Tisza. It’s known for its stunning Art Nouveau architecture and vibrant academic community. Szeged’s cost of living is quite reasonable, offering students a blend of historical charm and modern conveniences. 

The city hosts the famous Szeged Open-Air Festival, attracting visitors from all over the world. As a student, you’ll enjoy the relaxed atmosphere, beautiful parks, and a variety of cultural events that make Szeged a wonderful place to study and live.

This table shows the estimated monthly costs for Szeged dormitories, shared flats, and private flats.

Accommodation Type	Monthly Cost of Living in Szeged
Dormitory	INR 7k – INR 14k (30,000 HUF – 60,000 HUF)
Shared Flat	INR 14k – INR 26k (60,000 HUF – 1,10,000 HUF)
Private Flat	INR 21k – INR 38k (100,000 HUF – 1,80,000 HUF)

Accommodation Costs in Pécs

Pécs, in southern Hungary, is known for its rich history and cultural heritage. Home to the University of Pécs, one of Hungary’s oldest universities, Pécs is famous for its Roman ruins, vibrant art scene, and the annual Pécs Cantata Choir Festival. 

The city provides a supportive and engaging student environment, affordable living costs and numerous cultural activities. Pécs’ friendly community and beautiful surroundings make it an ideal place for your academic journey.

This table shows the estimated monthly costs for dormitories, shared flats, and private flats in Pécs. 

Accommodation Type	Monthly Cost of Living in Pecs
Dormitory	INR 7k – INR 13k (30,000 HUF – 55,000 HUF)
Shared Flat	INR 14k – INR 24k (60,000 HUF – 1,00,000 HUF)
Private Flat	INR 19k – INR 36k (90,000 HUF – 1,70,000 HUF)

Accommodation Costs in Miskolc

Miskolc, located in northeastern Hungary, is an industrial and cultural hub known for its natural beauty and historical landmarks. The city is famous for the Miskolctapolca Cave Bath, where you can relax in thermal waters inside a natural cave. Miskolc offers a unique student experience with its blend of urban amenities and access to nature. 

The cost of living in Miskolc is relatively low, providing affordable housing and living expenses. The city’s rich history, cultural events, and outdoor activities make it an attractive destination for students seeking a balanced lifestyle.

This table shows the estimated monthly costs for dormitories, shared flats, and private flats in Miskolc.

Accommodation Type	Monthly Cost of Living in Miskolc
Dormitory	INR 6k – INR 12k (25,000 HUF – 50,000 HUF)
Shared Flat	INR 13k – INR 23k (55,000 HUF – 95,000 HUF)
Private Flat	INR 18k – INR 33k (80,000 HUF – 1,50,000 HUF)

Now that you’ve explored the cost of living in Hungary in terms of accommodation, it’s time to calculate your monthly living expenses beyond rent.

Monthly Cost of Living in Hungary for Miscellaneous Activities

Understanding the cost of living in Hungary is crucial for keeping your budget on track. Hungary is a great place for students because it’s affordable and offers a high quality of life. Beyond accommodation, you’ll need to consider other monthly expenses like food, healthcare, transportation, and personal activities. 

Let’s break down these costs to help you manage your money effectively.

Food and Dining Expenses

Food is a big part of your monthly budget. Cooking at home is the best way to save money. You can buy fresh and cheap produce from local markets and grocery stores. If you like eating out, Hungary has many student-friendly restaurants and cafes like Karaván Street Food, Soul Café, and Tiszavirág Restaurant that won’t break the bank. 

Here’s a quick look at the costs.

Expense Type	Monthly Cost
Cooking at Home	INR 4k – INR 8k (20,000 HUF – 35,000 HUF)
Dining Out	INR 7k- INR 10k (30,000 HUF – 45,000 HUF)

Healthcare and Insurance

Staying healthy is important; as an international student, you must have health insurance in Hungary. It’s not expensive and gives you access to high-quality healthcare. Make sure to arrange your insurance before you arrive to avoid any hassles. 

Here’s what you can expect to pay.

Expense Type	Monthly Cost
Health Insurance	INR 3k – INR 7k (15,000 HUF – 30,000 HUF)

Transportation

Getting around Hungary is easy and affordable. Public transportation, including buses, trams, and metros, are efficient and cheap. Students get discounts on monthly passes, making it even more budget-friendly. Walking and cycling are also great options, especially in student-friendly cities. 

Here’s a snapshot of transportation costs.

Expense Type	Monthly Cost
Public Transportation	INR 2k – INR 5k (10,000 HUF – 20,000 HUF)
Cycling/Walking	Low/Free (Low/Free)

Personal and Leisure Expenses

You’ll want to enjoy your time in Hungary, so budgeting for personal and leisure activities is important. Hungary offers plenty of affordable options for entertainment, sports, or other hobbies. 

Your spending will vary, but here’s an idea of what you might spend.

Expense Type	Monthly Cost
Entertainment	INR 2k – INR 5k (10,000 HUF – 20,000 HUF)
Sports/Leisure	INR 3k – INR 5k (10,000 HUF – 20,000 HUF)

Also read: How To Study Abroad: A Step-By-Step Guide For 2024 

Banking and Finances

Managing your money is straightforward in Hungary. Opening a local bank account can help you keep track of your finances. Services like Wise are great for handling expenses and sending money internationally, offering better rates and lower fees. Here’s what you might expect for banking costs:].

Expense Type	Monthly Cost
Banking Fees	INR 1k – INR 3k (5,000 HUF – 15,000 HUF)

With a clear understanding of your cost of living in Hungary, you’re well-prepared to manage your budget and enjoy your time in Hungary. 

Employment Opportunities to Manage the Cost of Living  Hungary

Think about it: you’re studying in Hungary, soaking up the culture, and picking up some Hungarian phrases. But every adventurer needs a side quest, right? Earning some extra cash can significantly reduce your cost of living in Hungary.

The good news? Hungary’s job market is thriving! With an employment rate averaging over 56%, there are plenty of opportunities for international students to find work and gain valuable experience.

So, what kind of jobs are available? Hungary has a strong economy with various industries. Here’s a quick look at the job sectors in Hungary.

• Services: 64.8% (jobs in tourism, customer service, IT)
• Industry: 21.4% (jobs in factories, engineering)
• Construction: 6.5% (jobs in building and repairs)
• Agriculture: 4.8% (jobs in farming and food production)

With such a variety, you can find something that suits your interests! Now, look at the top 8 jobs in Hungary and see how much you can earn as per Indeed.

Job Title	Annual Salary
Surgeon/Doctor	INR 83L – INR 3Cr (10,00,000 HUF – 33,50,000 HUF)
Air Traffic Controller	INR 72L – INR 2Cr (8,70,000 HUF – 29,00,000 HUF)
CEO	INR 90L – INR 3Cr (11,00,000 HUF – 33,00,000 HUF)
Finance Director	INR 60L – INR 2Cr (7,40,000 HUF – 22,00,000 HUF)
Investment Advisor	INR 48L – INR 1Cr (5,90,000 HUF – 18,00,000 HUF)
University Professor	INR 60L – INR 2Cr (7,40,000 HUF – 23,00,000 HUF)
Marketing Director	INR 54L – INR 2Cr (6,70,000 HUF – 21,00,000 HUF)
IT Manager	INR 66L – INR 2Cr (8,20,000 – 26,00,000 HUF)

Please Note: These figures represent average salaries. Your actual earnings can vary based on your experience, qualifications, and the specific company you work for. This list provides a solid foundation to explore high-paying career paths in Hungary.

Top 5 Universities in Hungary

Hungary is making significant strides in higher education with a new partnership between the Hungarian Ministry of Culture and Innovation and Times Higher Education (THE). This collaboration aims to elevate Hungary’s universities on the global stage, targeting inclusion in the top 100 worldwide by 2030. With an increase in the number of universities ranked by THE, Hungary is becoming a prominent higher education hub.

Curious about the best universities in Hungary?

Here are the top five universities in Hungary, along with their QS World University Rankings for 2025 and their approximate annual tuition fees:

University	QS Ranking 2025	Annual Tuition Fees
Eötvös Loránd University (ELTE)	564	INR 4L – INR 7L (5,00,000 HUF – 9,00,000 HUF)
University of Szeged	570	INR 5L – INR 9L (6,00,000 HUF – 1,100,000 HUF)
University of Debrecen	574	INR 4L – INR 12L (5,00,000 HUF – 1,500,000 HUF)
Budapest University of Technology and Economics	721-730	INR 6L – INR 11L (700,000 HUF – 1,400,000 HUF)
University of Pécs	771-780	INR 5L – INR 10L (600,000 HUF – 1,200,000 HUF)

You can find out more about these universities below.

Eötvös Loránd University (ELTE)

ELTE is Hungary’s oldest and most prestigious university, located in Budapest and ranking 564 globally. It offers a wide range of programmes in the arts, sciences, and social sciences. 

Notable alumni include Nobel Prize winners Albert Szent-Györgyi and John Harsanyi, and mathematician Paul Erdős. 

ELTE‘s research programmes are strong in natural sciences and humanities. Unique programmes like the Eötvös Collegium foster academic excellence. ELTE also collaborates with international institutions, providing numerous exchange opportunities for students.

Also read: Best Countries to Study MBA for Indian Students in 2024 

University of Szeged

The University of Szeged ranked 570 globally, is famous for its strong programmes in sciences and humanities. It’s a popular choice among international students and provides a vibrant academic environment. 

Notable alumni include Nobel laureate Albert Szent-Györgyi, chemist George Olah, and politician Katalin Szili. 

The university excels in medical and health sciences and hosts the Albert Szent-Györgyi Medical Center. Szeged offers innovative programmes in biotechnology and environmental sciences. The university’s Open-Air Theatre Festival is a notable cultural event that enhances the student experience.

University of Debrecen

Ranking 574 globally, the University of Debrecen is known for its diverse range of English-taught programmes. Located in Hungary’s second-largest city, it is particularly renowned for its medical and agricultural faculties. 

Notable alumni include Nobel laureate George Andrew Olah, chemist Árpád Pusztai, and physicist Zoltán Bay. 

The university’s Faculty of Medicine is one of the largest in Hungary, attracting students worldwide. Debrecen excels in research, especially in biotechnology and agricultural sciences. The university’s Botanical Garden is a key feature, providing a unique learning environment.

Budapest University of Technology and Economics

This university, ranking 721-730 globally, is a leader in engineering, technology, and economics. It is located in Budapest and has a long history of contributing to technological advancements. 

Notable alumni include Dennis Gabor, Nobel laureate and holography inventor, mathematician John von Neumann, and engineer Theodore von Kármán. 

The Budapest University of Technology and Economics offers specialised programmes in electrical engineering, computer science, and mechanical engineering. Its Faculty of Economic and Social Sciences is highly regarded for its research output. Strong industry connections facilitate internships and job placements for students.

Also read: Best 10 Reasons to Study Abroad for Indian Students 

University of Pécs

Ranking 771-780 globally, the University of Pécs is one of Hungary’s oldest universities. It offers a wide range of programmes with a strong emphasis on research and innovation. 

Notable alumni include neuroscientist Janos Szentagothai, writer Endre Ady, and composer Miklós Radnóti. 

The University of Pécs is renowned for its medical school and humanities and social sciences programmes. Pécs is home to the Szentágothai Research Centre, promoting interdisciplinary research. 

The university hosts several international students and provides numerous study-abroad opportunities. Its cultural events, like the annual International Spring Festival, enrich student life.

Scholarships to Reduce the Cost Of Living In Hungary

Studying abroad is awesome, but the cost can be scary! Hungary can be your budget-friendly escape. The cost of living in Hungary is much cheaper than in other parts of Europe, making it a fantastic option for students. 

With a projected 1.8 million Indian students heading overseas by 2024, Hungary could be your perfect fit!

The good news? Scholarships can help ease the financial burden. 

Here are some scholarships from Hungary and India to make your dream of studying abroad a reality.

Scholarship	Offered By	Annual Amount (HUF) (INR)
Stipendium Hungaricum	Hungarian Government	2,50,000 HUF – 3,75,000 HUF (INR 2L – INR 3L)
Hungarian Diaspora Scholarship	Hungarian Government	1,87,500 HUF – 3,12,500 HUF (INR 2L – INR 3L)
Bilateral State Scholarships	Hungarian Government	2,50,000 HUF – 3,75,000 HUF (INR 2L – INR 3L)
National Overseas Scholarship	Indian Government	1,875,000 HUG – 2,500,000 HUF (INR 15L – INR 20L)
SPDC Scholarship for Diaspora Children	Indian Government	7,50,000 HUG – 1,500,000 HUF (INR 6L – INR 12L)
Ministry of Tribal Affairs Scholarship	Indian Government	1,250,000 HUG – 1,875,000 HUF (INR 10L – INR 15L)

With scholarships helping out, studying in Hungary becomes more affordable. So, your dream of studying abroad is totally within reach! But wait, there’s one important thing: getting your student visa. 

Searching for the right scholarship for you?

Leap Scholar can help! We will assist you in finding the best scholarship match and ensure a smooth financial journey in Hungary.

Student Visas for Hungary

With Indian students’ overseas spending on education projected to hit $70 billion a year by 2025, securing the right visa is more important than ever. 

For those planning to study in Hungary, understanding the visa process is crucial. You will need a student visa (D-visa) if you are from a non-EU/EEA country. This process involves obtaining a residence permit for study purposes.

Here’s a detailed look at the different types of visas, their processing times, and the fees involved.

Visa Type	Processing Time	Processing Fees
Student Visa (D-visa)	1-2 months	INR 7k – INR 15k (30,000 HUF – 65,000 HUF)
Residence Permit for Study Purposes	1-2 months	INR 8k – INR 18k (35,000 HUG – 75,000 HUF)

Preparing your visa well in advance ensures you can join the increasing number of Indian students pursuing higher education abroad without any hitches.

Worried about the visa process? Let Leap Scholar guide you! Our team will assist you every step of the way to secure your student visa for Hungary.

Tips To Reduce Your Cost of Living in Hungary

Managing your expenses effectively can make your stay in Hungary more enjoyable and less stressful. With a little planning and smart choices, you can significantly reduce your cost of living in Hungary while studying. 

Here are some practical tips to help you save money and live comfortably on a student budget in Hungary.

• Cook at home: Buying groceries and cooking is much cheaper than eating out. Use local markets for fresh produce and save on food costs to lower your cost of living in Hungary.

• Find shared accommodation: Sharing a flat with other students can significantly reduce your rent expenses. Look for roommates to split costs and reduce your overall cost of living in Hungary.
• Buy second-hand: Purchase used textbooks, furniture, and other essentials. Websites and local shops offer good deals on second-hand items.

• Take advantage of student discounts: Many shops, restaurants, and services offer discounts for students. Always carry your student ID to save money.
• Use public transportation: Take advantage of student discounts on public transportation. Buses, trams, and metros are affordable and reliable, helping you manage your cost of living in Hungary.
• Limit utility usage: Be mindful of your electricity, water, and heating usage. Simple habits like turning off lights and taking shorter showers can reduce bills.
• Use free resources: Libraries, parks, and university facilities offer free entertainment and study spaces. Make the most of these resources.
• Work part-time: If your visa allows, consider getting a part-time job. It can help cover expenses and provide valuable work experience.

Also read: Work in Europe for Foreigners 

To Conclude

Are you ready to manage the cost of living in Hungary and make the most of your student life? By planning well, you can ensure your finances are in check while enjoying everything Hungary has to offer. From cooking at home to using public transport, every little bit helps keep your budget on track.

Think about how much more you can enjoy your time in Hungary when you’re not stressed about money. By following these tips, you’ll have more freedom to focus on your studies and explore this beautiful country’s rich culture and history.

Leap Scholar is here to support you every step of the way. From finding the best scholarships to offering personalised advice on managing your finances, we’re dedicated to helping you succeed. Our expert guidance ensures that financial concerns won’t prevent you from achieving your dreams. Contact us today.

Also read: Best Country to Study Engineering for Indian Students in 2024 

Frequently Asked Questions