It is really exciting to study abroad in 2026. You have to make sure that you have a good plan for your money. People usually think about tuition fees. The cost of living is equally important.
When you think about the city you want to live in, there are a lot of things to consider. Your monthly expenses, like rent and groceries, can vary greatly from city to city. Then there are also costs like transportation and social life which vary depending on the city you choose. The city you choose will affect how much money you spend on these things each month.
This is why many students look for housing options quickly through platforms like Now SkyWhich helps in comparing verified accommodation before arriving. It will be much easier to manage your money if you can figure this out ahead of time.
In this guide we’ll walk you through the cost of living in some cities to study abroad in 2026, based on what’s happening now and what students are saying about their experiences studying abroad in 2026.
What exactly is included in “cost of living”?
Before we start talking about cities, we need to figure out what we are spending our money on. The big things we have to pay for are:
- Housing (biggest and main expense)
- food and groceries
- transportation
- Utilities (electricity, Wi-Fi, heating)
- study material
- personal and social spending
London, UK
London remains one of the most popular and expensive student cities in the world.
Average monthly cost: £2,000- £2,800
- Rent: £1,087- £2,805
- Food: £300- £350
- Transport: £100 – £150
- Other expenses: £200+
London has some world-class universities. The problem is that London can be very expensive. Students studying in London usually want to find a place to live that is not in the middle of the city. This way students in London can save some money on things like rent.
New York City, United States
If you’re aiming for a global city experience, New York is unmatched – but it comes at a premium.
Average monthly cost: $3,500-$4,000+
- Rent: $3,300-$4,700
- Meal: $300-$550
- Transportation: $132+
- Other expenses: $150-$300
students talk often Rent is so expensive and it’s a big problem for them, especially if they live in Manhattan. Many students choose to live with roommates in apartments to reduce their living costs.
Melbourne, Australia
Melbourne is known for its student-friendly environment, quality education and relatively balanced lifestyle.
Average monthly cost: AUD 2,000 – AUD 3,000
- Fare: AUD 900 – AUD 1,500
- Meals: AUD 300 – AUD 500
- Transportation: AUD 100 – AUD 150
- Other expenses: AUD 200+
Melbourne is easy to reach and this is what people like about it. Melbourne students still need to be careful with their money, especially as many people want to live in Melbourne and this is making housing more expensive.
Toronto Canada
Toronto is a top choice for international students due to its diversity and strong job market.
Average monthly cost: CAD 1,400 – CAD 2,500
- Fare: CAD 600 – CAD 2,200+
- Meals: CAD 300 – CAD 500
- Transportation: CAD 100 – CAD 160
- Other expenses: CAD 100+
Berlin, Germany
With a rich cultural scene, Berlin offers more affordable options than many Western cities.
Average monthly cost: €900 – €1,300+
- Fare: €400 – €700
- Meal: €150 – €300
- Transportation: €29 – €50
- Other expenses: €100-€200
Berlin is an option for students who are on a budget as tuition fees are lower in Germany, which helps balance the cost of living in Berlin.
Singapore
Singapore is a modern, tech-driven city with top universities. However Singapore is also one of the most expensive places to visit in Asia.
Average monthly cost: SGD 2,000 – SGD 4,000
- Fare: SGD 500 – SGD 2,000
- Meals: SGD 500 – SGD 2,000
- Transportation: SGD 90 – SGD 120
- Other expenses: SGD 100 – SGD 300
Students living in Singapore often think that rents are too high. They like the public transportation system and the fact that Singapore is a very safe place to live.
Quick Tips to Manage Your Cost of Living
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No matter which city you choose, smart planning can help you stay within budget.
- Book accommodation on time
Rental prices increase closer to the seven season. Securing housing early can save both money and stress.
- Choose the right location
Rent is usually much cheaper if you live a little outside the city centre. You can still access places easily which is really nice.
- Keep track of your daily expenses
Use budgeting apps. Track your expenses with a spreadsheet. This can help you stay on top of your money and let you know where your cash is going.
- Take advantage of student discounts
Most cities have student discounts available on things like travel, dining deals, movies, and other entertainment options.
Eating out is something that students can easily adapt to while abroad. The thing is, eating out all the time can really increase your monthly expenses. Students abroad have to be careful with food as it can spoil quickly.
final thoughts
The cost of living in 2026 is going to be really different, depending on where you want to live, how you want to live your life and what kind of home you want to live in.
Cities like London and New York are great because they have a lot of opportunities but you have to have a lot of money to live there. On the other hand, the cost of living in places like Berlin is not so high and you can still get a good education without spending a lot of money.
You shouldn’t just think about cost of living. You should also think about what it’s like to live in a place. You can read what other students say about their experiences on StudyBroad101. This will give you an idea of what to expect.
Planning things like accommodation and daily expenses in advance will help you save money. This will make your time studying abroad very easy and fun.
