Is Budapest cheap or expensive? [2024 guide]
- travel tips
- January 3, 2024
Prepare to embark on a financial journey through the heart of Budapest, Hungary’s stunning capital, as we delve into the pressing question: Is Budapest still a budget-friendly destination when compared to other global capitals?
In this article, we’ll navigate the intricate landscape of Budapest’s prices, offering a clear and concise breakdown of the cost of living, dining, and exploring this mesmerizing city.
As we investigate the financial landscape, we aim to uncover whether Budapest’s reputation as an affordable gem still holds true in the face of growing global tourism and economic changes. Join us as we dissect the numbers and reveal the true essence of Budapest’s affordability.
Related article: best free things to do in Budapest
So, is Budapest cheap or expensive?
Budapest remains among Europe’s most budget-friendly travel destinations. This affordability is partly due to Hungary not adopting the Euro, with its national currency, the Forint, experiencing a decrease in value over recent years. This devaluation strategy aims to boost Hungary’s appeal as a location for businesses to establish their operations.
Is Budapest expensive? How much money do you need to visit Budapest?
Overall, Budapest is a budget-friendly city, with typical daily expenses for a traveler ranging from €45 to €155 (about $48 to $164 USD, and 38 to £130 GBP) per person. It’s important to plan your budget before visiting Budapest and know the expected costs for different activities and needs.
Budapest prices (in pounds, euros, dollars)
How much does a meal cost in Budapest?
Dining in Budapest offers a range of options to suit any budget. In 2024, standard meal prices in eateries across the city reflect the culinary diversity and economic climate. Whether you’re grabbing a quick bite or sitting down for a multi-course dinner, anticipate spending a baseline of 8 to 10 euros per meal.
Average Prices for complete meals:
• Breakfast: from €6, £5, $7
Start your morning with a selection of hearty breakfast choices that offer more than just a meal but a taste of local tradition. For approximately €6 or slightly more, you can get the best out of a local bakery or coffee shop, where people go for some kifli, or some croissant…and coffee. Some of the best places to go include: Madal, Dorado, Csiga, Massolit, Espresso Embassy.
• Lunch: €10, £8, $11 (average)
Midday meals are an opportunity to explore Hungary’s rich palette of flavors without breaking the bank. Nowadays it’s hard to find places with lunch specials below €10, although it always depends on what you eat. The normal price will be around 10 euros, although you might find some nice deals slightly below that. There are plenty cafes or bistros dotting the city – even the ones mentioned for breakfast will have lunch options too.
• Dinner: 12€, £10, $13 (average)
Evening dining experiences range from casual street food to fine dining, with prices for a complete dinner starting at 12 euros. Whether it’s a traditional Hungarian stew, a plate of crispy schnitzel, or a sampling of artisanal cheeses, the dinner scene in Budapest caters to a variety of tastes and budgets. If you really want to go for a budget dinner, that’s also doable – there’s always the local pizza chains (like Pizza Me or Pizza King) selling slices; or the usual kebab chains selling, where a kebab or gyros will cost you around 5€.
How much does a drink cost in Budapest?
The Budapest price of the pint (and alcohol prices in Budapest in general) really depends on what you’re having, and where you’re having it. Here’s some common examples:
• Pint of draught beer: from 500-1500 HUF (1.5-5 EUR)
• Bottle of beer (0.4 – 0.5 litre) in shops: 300 – 600 HUF (1-2 EUR).
• Glass of quality wine (1 dl): from cc. 1000 HUF (3 EUR).
Budapest food prices
Restaurants
• Meal, Inexpensive Restaurant – €10.57 ($11.58, £9.08)
• Meal for 2 People, Mid-range Restaurant, Three-course – €52.86 ($57.90, £45.16)
• McMeal at McDonalds (or Equivalent Combo Meal) – €7.67 ($8.39, £6.57)
• Domestic Beer (0.5 liter draught) – €2.51 ($2.75, £2.15)
• Imported Beer (0.33 liter bottle) – €2.64 ($2.89, £2.26)
• Cappuccino (regular) – €2.19 ($2.40, £1.88)
• Coke/Pepsi (0.33 liter bottle) – €1.36 ($1.49, £1.17)
• Water (0.33 liter bottle) – €1.00 ($1.09, £0.85)
Supermarket prices
• Milk (regular), (1 liter) – €1.08 ($1.18, £0.93)
• Loaf of Fresh White Bread (500g) – €1.56 ($1.71, £1.34)
• Rice (white), (1kg) – €1.93 ($2.11, £1.66)
• Eggs (regular) (12) – €2.67 ($2.92, £2.28)
• Local Cheese (1kg) – €9.93 ($10.87, £8.51)
• Chicken Fillets (1kg) – €5.39 ($5.90, £4.63)
• Beef Round (1kg) (or Equivalent Back Leg Red Meat) – €11.41 ($12.50, £9.81)
• Apples (1kg) – €1.50 ($1.64, £1.28)
• Banana (1kg) – €1.79 ($1.96, £1.54)
• Oranges (1kg) – €1.84 ($2.02, £1.58)
• Tomato (1kg) – €3.13 ($3.43, £2.69)
• Potato (1kg) – €1.17 ($1.28, £1.00)
• Onion (1kg) – €1.34 ($1.47, £1.16)
• Lettuce (1 head) – €1.32 ($1.45, £1.14)
• Water (1.5 liter bottle) – €0.46 ($0.50, £0.39)
• Bottle of Wine (Mid-Range) – €5.29 ($5.79, £4.54)
• Domestic Beer (0.5 liter bottle) – €1.06 ($1.16, £0.91)
• Imported Beer (0.33 liter bottle) – €1.47 ($1.61, £1.26)
• Cigarettes 20 Pack (Marlboro) – €5.82 ($6.37, £4.98)
Budapest Accommodation costs
Budapest offers a wide range of lodging options, including hostels, hotels, and apartments. There are budget-friendly hostels, luxurious hotels, and everything in between. For a standard yet affordable hotel, you can expect prices ranging from £30 to £45 per night (€35, $38). If you’re looking for a mid-range hotel, the cost is typically between £45 and £80 per night (€52 to €93 , $57 to $101). If your budget allows for more, you’ll find beautiful hotels that are still relatively economical.
Price Ranges for Hotels in Central Budapest:
• Hostel: Starting from HUF 4,000 (£9, €11, $12) per night per person
• Budget Hotel: Starting from HUF 13,270 (£30, €35, $38) per night per room
• Mid-range Hotel: Starting from HUF 20,000 (£45, €52, $57) per night per room
• Luxurious Hotel: Starting from HUF 35,000 (£80, €93, $101) per night per room
Transportation prices
• One-way Ticket (Local Transport) – €1.19 ($1.30, £1.02)
• Monthly Pass (Regular Price) – €25.11 ($27.50, £21.53)
• Taxi Start (Normal Tariff) – €2.91 ($3.18, £2.49)
• Taxi 1km (Normal Tariff) – €1.16 ($1.27, £0.99)
• Taxi 1hour Waiting (Normal Tariff) – €17.45 ($19.11, £14.97)
• Gasoline (1 liter) – €1.65 ($1.80, £1.41)
• Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) – €29,075.38 ($31,842.38, £24,910.68)
• Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) – €27,336.81 ($29,938.36, £23,403.20)
Utilities (Monthly) prices
• Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment – €149.14 ($163.00, £127.30)
• Mobile Phone Monthly Plan with Calls and 10GB+ Data – €23.33 ($25.56, £19.99)
• Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) – €15.14 ($16.58, £12.99)
Sports And Leisure
• Fitness Club, Monthly Fee for 1 Adult – €47.87 ($52.42, £41.00)
• Tennis Court Rent (1 Hour on Weekend) – €13.65 ($14.94, £11.68)
• Cinema, International Release, 1 Seat – €6.61 ($7.24, £5.67)
Childcare
• Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child – €383.27 ($419.32, £328.21)
• International Primary School, Yearly for 1 Child – €9,235.42 ($10,116.99, £7,923.87)
Clothing And Shoes
• 1 Pair of Jeans (Levis 501 Or Similar) – €74.65 ($81.77, £64.00)
• 1 Summer Dress in a Chain Store (Zara, H&M, …) – €32.07 ($35.15, £27.55)
• 1 Pair of Nike Running Shoes (Mid-Range) – €87.20 ($95.40, £74.65)
• 1 Pair of Men Leather Business Shoes – €91.62 ($100.36, £78.52)
Rent Per Month
• Apartment (1 bedroom) in City Centre – €587.94 ($643.53, £503.14)
• Apartment (1 bedroom) Outside of Centre – €465.68 ($509.51, £398.79)
• Apartment (3 bedrooms) in City Centre – €1,016.03 ($1,112.64, £870.57)
• Apartment (3 bedrooms) Outside of Centre – €750.01 ($821.51, £643.16)
Sources: numbeo.com (last checked on Jan. 3, 2024)
Daily costs in Budapest
Accommodation and daily expenses in Budapest can cater to every traveler’s budget. Here’s what you can expect to spend in 2024:
• Hostel dorm bed: 3000–9000 HUF (EUR 7-22, GBP 6-19, USD 9-26). Hostels in Budapest are a haven for budget-savvy travelers, offering comfortable beds and a social atmosphere at a fraction of the cost of traditional accommodations.
• Basic hotel room for two: 11,000–32,500 HUF (EUR 29-85, GBP 25-73, USD 36-106). For those seeking privacy and basic amenities, a variety of hotels provide rooms that combine comfort with affordability.
• Self-catering apartment (including Airbnb): starting from 15,000 HUF (EUR 38, GBP 33, USD 47). Self-catering apartments offer the comforts of home and the flexibility to cook meals, often leading to savings on dining out.
• 24-hour public transport ticket: 1650 HUF (EUR 4, GBP 3, USD 5). Budapest’s public transport system is not only extensive and reliable but also one of the most economical ways to explore the city.
• Cup of coffee: 400–1200 HUF (EUR 1-3, GBP 1-3, USD 2-4). Coffee lovers can enjoy a range of options from classic espresso to specialty brews in Budapest’s numerous cafes.
• Dinner for two: 8000–25,000 HUF (EUR 21-65, GBP 18-57, USD 26-82). Whether it’s a candle-lit bistro or a bustling street food market, dining out in Budapest can be a romantic and flavorful experience without a steep price tag.
• Pint of beer at the bar: 600–1200 HUF (EUR 2-3, GBP 1-3, USD 2-4). Experience Budapest’s lively bar scene with local and craft beers on tap, reflecting the city’s burgeoning brewery culture.
Budapest costs for travellers
Budapest Activities Costs
Budapest offers a wealth of experiences, many of which are free. However, for those attractions that do charge, like museums or historical sites, the fees are usually reasonable.
Most museums charge around €10-15 (£ 8-13, $11-17), for admission, with discounts often available for students, youths under 25, and seniors over 65 (ID proof is needed). Good examples of this are the Budapest House of Terror and the Budapest History Museum.
However, the entrance to some other attractions, like the Budapest Opera House or the Budapest Parliament, require a tour, and therefore will cost more: the adult ticket for the first is HUF 9000 (£20, €23, $26), while the latter costs HUF 12,000 for non-EEA citizens (£27, €31, $35), or half for EEA citizens. Discounts also apply.
For budget-friendly exploration, Budapest offers free walking tours, where you typically tip the guide €5-10 per person, based on your satisfaction. Other than that, you’ll find specialized walking tours too, like those focused on Jewish history, some of them including, starting at €10-15. But those prices also vary – if the tour includes a visit to the famous Dohány street Synagogue, you should expect a considerable bump in the price.
Visiting thermal baths is also a popular activity, with prices varying. The renowned Széchenyi Thermal Baths start at €25, but local options, like Rudás Baths or Lukács, offer lower entry fees starting at €15.
Cruises on the Danube are also a hit, with minimum prices around €10-15, though better options can get much higher prices.
Essentials for Budapest:
- Language: Hungarian
- Currency: Hungarian Forint (HUF)
- Country code: +36
- Time Zone: GMT +1
- Power sockets: types C and F
Related articles:
• Budapest currency
• Where to exchange money in Budapest
Cost of living in Budapest
Compared to most cities in Europe and with the US, one could say that Budapest is a cheap city to live in, despite the recent inflation episodes in 2022 and 2023 – estimated monthly expenses for a family of four in Budapest amount to approximately £2,101 (€2,450, $2,665), not including rent. For a single person, those costs would amount to £600 (€698, $760), excluding rent.
Comparison with London
• Consumer prices (excluding rent): 40% lower in Budapest than in London
• Consumer prices (including rent): 56.4% lower in Budapest
• Rent prices in Budapest: 74% lower compared to London.
• Dining out: 44.9% less than in London.
• Grocery prices: 32.5% lower than in London.
• Local purchasing power: 34.8% lower than in London.
Sources: numbeo.com (last checked on Jan. 3, 2024)
Comparison with New York
• Consumer prices (excluding rent): 49.7% lower in Budapest than in New York.
• Consumer prices (including rent): 66.0% lower in Budapest.
• Rent prices: 83.7% less expensive in Budapest than in New York.
• Restaurant prices: 52.7% lower in BP than in New York.
• Grocery prices: 56.0% lower than in New York.
Sources: numbeo.com (last checked on Jan. 3, 2024)
Comparison with Lisbon
• Consumer prices (excluding rent): 0.9% higher than in Lisbon
• Consumer prices (including rent): 16.3% lower than in Lisbon.
• Rent: 6.8% less expensive in Budapest.
• Restaurant: 0.4% lower in Budapest than in Lisbon.
• Groceries: 1.7% lower in Budapest.
Sources: numbeo.com (last checked on Jan. 3, 2024)
Best tips to save money in Budapest
– Always check how much the HUF is worth in your currency. Sometimes it gets confusing, especially in a currency with so many digits. An easy way to do this is simply by googling something like “1500 huf to eur” – this gives you the updated info. But there are conversion apps too.
– Avoid the high exchange rates: your local bank will likely charge a fee for your conversion, plus a conversion mark-up on the conversion rate. Use a multicurrency card like Wise instead in order to avoid those extra costs for each transaction you make.
– Withdraw and pay in the local currency: when paying in stores or withdrawing money, often times the machine (or terminal) asks if you’d like to make the transaction in your own currency. But don’t. Just choose the HUF, otherwise you’ll get a bad conversion deal.
– Choose the places you visit wisely: make sure you plan well ahead what to visit – and the places you don’t get to go inside, just at least see from the outside. For example – while you might not be able to enter the Parliament, just watching its majesty and its lights at night is a truly great experience.
– Create a budget before traveling: this is sometimes tricky, as one might quickly lose track of their spends. Get a budget tracker app that does this – or just use the Wise app, that lets you create and name pockets for your needs.
– To go from Budapest airport to the city center, take public transportation. The 100E bus costs only HUF 2,200 (less than 6 euro), and you get to the center within 45-50 minutes.
– Go for hostels (or even couchsurfing!). There’s plenty of hostels in central districts, and some of them with night events. If you’re planning to go out, that can be a way to have great fun for less money.
– Always count with a 10% tip: in cafes and restaurants, your bill will likely come with a 10-15% added tip. In bars that won’t happen, but often the machine will have a number chosen by default – if you don’t wish to tip, make sure you bring that number down to zero.
How much is the Hungarian Forint worth?
For an up-to-date exchange rate calculation, check this converter tool: