We have all heard stories about how expensive it is to live in Dublin. Have you ever wondered how expensive it really is? Well here is the real cost of living in Dublin.
Year after year, we continuously hear stories that Dublin is climbing the ranks of being one of the most expensive cities in the world. Living expenses are always among the top concerns for those hoping to move to a new country.
According to the 2020 Worldwide Cost of Living report, Dublin is 46th most expensive city in the world, falling just one place behind London. This report places Dublin as the sixth most expensive city in Europe behind Zurich, Bern, Geneva, London, and Copenhagen.
Here we look at the real cost of living in Dublin and also take a quick look at wages in Ireland.
Rent – the most costly factor
Dublin’s high cost of living is primarily accredited to its high rents.
Dublin City Centre and Dublin South City are the most expensive locations to rent in with the average property costing €2,044 to rent per month. This is in comparison with the national average of €1,391 per month.
The average cost of a one-bedroom apartment in Dublin is over €1,700. In contrast, a two-bedroom apartment comes in just below €2,000 per month.
If you are looking to rent your own private bedroom in a shared house, prices start at around €650 per month. If you are happy with sharing a room with someone, then the cost of rent can be as low as €400 per month.
Transportation – expensive journeys
The public transport system in Dublin, while extensive can be a silent expense.
A Leap Card can be used on most of Dublin’s public transport system, which has a weekly cap of €40 for those who use public transport extensively. Using a Leap Card is cheaper than paying in cash – in some cases up to 31% cheaper, so it is worth getting.
A litre of petrol or diesel is around the €1.40 mark, which is among the top ten fuel prices in Europe. One thing to consider if using a car in Dublin is the cost of parking with some on-street parking as high as €3.20 per hour.
Utilities – a variable expense
Utilities vary greatly depending on the amount of time one spends at home, and what kind of services are linked to your accommodation.
The average annual electricity bill for a one or two-bedroom apartment is €680; however, if there are no gas appliances, this can be upwards of €1,200. The average gas bill in Ireland is €805 per annum.
On average, high-speed or fibre internet in Dublin costs on average €50 per month. However, this can vary as some companies offer discounts for the first year.
Pre-pay phone bills that offer unlimited data, unlimited texts, and 60 minutes of calls cost between €20 and €30.
Entertainment – enjoyment is expensive
For those with interest in keeping fit, gyms in Dublin vary in price.
The average cost of a monthly gym membership, including access to a swimming pool, is €40. However, rates can be less if you go during off-peak hours.
Some chain gyms have cheaper rates, but these are usually busier.
A cinema ticket to see an international release is €12, while a medium-sized popcorn on average costs €5.50.
No analysis of the real cost of living in Dublin would be complete without a look at the cost of a pint of Guinness.
In Dublin, prices are usually around the €4.50 to €6 price range; however, if you are in Dublin City Centre, you can expect to pay upwards of €6.50 in some places.
The price of a coffee varies across Dublin; however, it can be a dealbreaker for those coffee-connoisseurs.
Most independent cafés in Dublin price their flat whites at, or just under, €3. A flat white in Starbucks costs a whopping €3.25, making it the most expensive place to get your caffeine fix.
A three-course meal for two at a mid-range restaurant, without any drinks, costs on average €65. In comparison, the cost of a cocktail is approximately €12.
If you are looking to splash out fear not, for Dublin offers plenty of options to splash the cash.
Overall – how much do I need to live in Dublin?
According to Numbeo, the average cost of living for a single person living in Dublin is €915, excluding rent.
Depending on how budget savvy you may be, your cost of living may be lower, especially if you shop around for the best deal. The high rent costs are what drive up the cost of living in Dublin.
The minimum wage is €10.10 per hour before tax, while the living wage in Dublin €12.30. The average salary of a person working in Dublin is €40,000 per annum. However, this varies greatly depending on the industry.