Is Dublin a pricey city?
Dublin is a city with many benefits, but it is also not a cheap place to live. Dublin has one of the highest costs of living in Europe, according to a recent assessment by The survey.
Dublin is more pricey than places like Amsterdam, Berlin, Barcelona, & Milan but less affordable than Paris, Geneva, Hamburg, Oslo, Vienna, Helsinki, and Frankfurt. The cost of necessities is also slightly higher for our closest neighbors in London.
Compared to New York and Los Angeles in the US, together with Hong Kong, Changi, Osaka, Tokyo, Seoul, Sydney, and Melbourne inside the Asia-Pacific area, Dublin has a cheaper living expenses.
If these comparisons don’t enable you to estimate Dublin’s cost of living, look at the prices for some essential commodities listed below. If you prefer another option, view our guide on living expenses for undergraduates if you intend to study in Dublin.
What is the cost of living in Dublin?
Number estimates that the average monthly cost of living for a specific individual in Dublin is €915, not including rent.
Your living expenses may be cheaper depending on how frugal you are, specifically if you look for the most incredible bargain. Dublin’s high rent prices are to blame for the city’s high cost of living.
Before taxes, the minimum salary in Dublin is €10.10 per hour, whereas the living wage is €12.30. An employee in Dublin makes, on average, €40,000 annually. However, dependent on the industry, pricing varies tremendously.
Cost of products for consumption
Compared to most other European cities, Dublin has a higher cost of living. Price reductions are occurring, though. Savings for customers at the register result from ongoing competition amongst supermarket businesses. According to Ireland’s Consumer Price Index, the cost of apparel and transportation is also falling.
The negative side of everything is that Dublin has high pay as well. The minimum wage in Ireland is now the second largest in all of Europe. Plans exist to increase the living wage as well. The average pay for other workers is high and has been rising continuously in recent years, even throughout the pandemic.
Read More: What Is The Cost Of Living In Argentina? All You Need To Know
The expense of lodging
The hefty cost of renting or purchasing a home is a significant factor in Dublin’s high cost of living. Presently, there is a restricted supply in both areas. However, the government places a high premium on housing, and new projects are constantly rising.
High housing costs are a significant indicator of Dublin’s prosperity. They have increased due to substantial international students coming to Dublin to study and multinational firms acquiring housing for employees.
In Dublin’s city center, the median rent in 2020 was €2,111, and the average price to purchase a property was €390,000. However, costs greatly vary between various Dublin neighborhoods.
In our guide to choosing to lodge in Dublin, you can learn more about what to budget.
How much money must you earn to live in Dublin?
In Dublin, a single adult must make between 50,000 and 60,000 euros per year to afford living expenses. A yearly income between 60,000 and 80,000 euros would be more practical for families with children. The average pay estimate of 42,000 EUR is substantially lower than this.
Excellent air quality and a stable social and economic environment may be found. Dublin’s quality of life and safety are superb and improve yearly. An efficient public transportation system allows for easy access to the whole city. Overall, the average yearly salary in the country is about EUR 39,000. (USD 43,000).
Is Dublin’s high cost of living justified?
Dublin serves as a gateway to some of Europe’s best colleges, well-paying work options, and the opportunity to get experience at globally renowned multinationals despite the city’s high living costs. A perk is also the opportunity to meet the locals and their culture.
- Dublin is less expensive than London if you wish to move to an English-speaking city.
Transportation: exorbitant distances
Despite being comprehensive, Dublin’s public transportation infrastructure might have a hidden cost.
Most of Dublin’s public transportation utilizes a Leap Card, which has a once-a-week cap of €40 for heavy users. Leap Cards are more affordable than cash, often up to 31% less expensive; thus, getting one is worthwhile.
One of Europe’s ten leading fuel costs for a liter of gasoline or diesel is roughly €1.40. When driving in Dublin, one thing to remember is the parking expense, with a few spaces costing up to €3.20 per hour.
Utilities are recurring expenses.
Depending on how much time a person spends at home and the amenities connected to their lodging, utilities might vary substantially.
A one- or two-bedroom apartment’s average yearly energy cost is €680; however, in the absence of gas equipment, this can be as high as €1,200. Ireland’s annual average gas bill is €805.
A slightly elevated or fiber connection in Dublin typically costs €50 monthly. This can change, though, as some businesses give first-year discounts.
Pre-paid phone bills that include unlimited data, messages, and calls for 60 minutes range from €20 to €30.
The Dublin Average Salary
According to data from the statistics, the average yearly wage in Ireland is €44,200. High earners inflate the average, so this amount may not accurately reflect what Dubliners typically make.
The minimum hourly wage in Ireland is €10.20 per hour, and the typical workweek is about 39 hours. As a result, a worker making the minimum wage would make around €400 per week or about €20,800 per year.
Additionally, the CSO determined the median family income, which offers a more precise picture of what typical Dubliners make. Ireland’s annual income is €593 per week, or €30,836 annually.
A person making this much money is in the 50th percentile, meaning half of all persons make more money and half make less.
It’s vital to remember that so many people can survive on far less than the median income of €317 a week or €16,484 per year earned by the bottom 20 percent of earnings, which only includes employed taxpayers.
- How much money must you make to live in Dublin?
Renting a property for your family will cost you 1500 per month, which is more than 50% of your net income. We are a four-person household with a couple and two young children. 65k is sufficient for a single individual or a family to live on and save money in Dublin.
- Is it inexpensive to live in Dublin?
And the outcomes won’t come as a surprise to anyone wanting to purchase or rent in Dublin. Among these 32 cities, Dublin is currently ranked among the least cheap places to buy a home, albeit it isn’t among the worst. In terms of affordability, it ranks behind cities like Sydney & Amsterdam.