Most costly bedroom in Germany is located in Munich.
Study Affirms High Housing Costs in Munich, Germany
A recent study by wg-gesucht.de reveals that Munich ranks among the most expensive cities in Germany for rental prices of shared apartments. The comparison focuses on two to three roommate apartments, with Munich's costs being the highest, even surpassing those in Berlin, the German capital.
In the context of students, BAföG is an option, although it requires considerable effort and offers a living allowance of approximately €380. This allowance typically fails to cover the expenses of a shared apartment and usually cannot meet the rental costs in most cities. According to the Moses-Mendelssohn-Institute (MMI), the average rental prices for shared apartments in Germany during the summer semester are €493. With BAföG, only 23 out of 88 analyzed German cities can offer affordable living conditions for students, primarily in the eastern regions, where rental prices for shared apartments often fall below €300. Chemnitz is the least expensive city with rental prices of €265. In Kaiserslautern, BAföG covers the average rental prices for shared apartments, which are €380.
On the expensive end of the spectrum, Munich tops the list, with shared apartment rent averaging €790, closely followed by Frankfurt am Main with rental prices of €680. Berlin comes in third with prices of €650, while Hamburg has an average of €620 and Cologne €600.
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Additional Information
Student housing costs vary significantly across German cities. Here's a breakdown of the most and least expensive cities:
- Munich, Berlin, and Hamburg are among the priciest cities, with room prices ranging from €500 to €1,200+ per month.
- Leipzig, Dresden, Bochum, and Jena offer more affordable options, with prices generally ranging from €300 to €500 per month.
- Smaller towns present more budget-friendly choices, with rooms available for about €300 to €350 per month.
Though major cities like Munich may be more expensive, students can find more affordable housing in cities like Leipzig and Dresden.
Investing in real estate, particularly in shared apartments, can be challenging in Munich due to its high housing costs, which are amongst the highest in Germany, even surpassing Berlin's. For students searching for affordable rental options, cities like Chemnitz, with prices as low as €265, might offer a better lifestyle choice, with Leipzig and Dresden presenting more budget-friendly real-estate opportunities. The finance-minded student could consider diversifying their investments by exploring housing markets in less expensive cities as part of their lifestyle strategy.
