Cost of living in Switzerland – single, family & student
This article covers:
- Quick Overview
- Do you know?
- A glance at the average cost of living in Switzerland
- Average living cost in Switzerland: Single vs Student vs Family
- Average cost of living in Switzerland – Citywise
- Switzerland Tax scenario
- What salary do you need to live in Switzerland?
- What should be your monthly budget to live in Switzerland?
- Do’s and don’ts
- Top cities for students and job seekers
- Before you go…
- FAQs
The monthly cost of living in Switzerland is CHF 2,569 with rent and CHF 1,126 without rent for an individual, while for a family it is CHF 6,605 with rent or CHF 3,937 without rent.
Switzerland’s standard of living is exceptional, thanks to its breathtaking landscapes and world-class institutions, making it a dream destination for many. However, relocating to this exciting country requires financial awareness.
This guide highlights the financial aspects of relocating to Switzerland. It provides all the essential insights needed to budget your living expenses and calculate Switzerland’s cost of living index.
Quick Overview
- The cost of living in Switzerland for a single person is CHF 2,569 per month with rent and CHF 1,126 monthly without rent.
- The average cost of living in Switzerland for a student is CHF 2,432 to CHF 2,623 per month including rent.
- The cost of living in Switzerland for a family is CHF 6,605 per month with rent and CHF 3,937 per month without rent
Do you know?
- Switzerland secured its position as the sixth most peaceful country globally as per the 2024 Global Peace Index, with a GPI Score of 1.35.[1]
- Switzerland’s inflation rate dropped to 2.1% in 2023 from 2.8% in the previous year.[2]
- The unemployment rate in Switzerland decreased to 4% in 2023 from 4.3% in the previous year.[3]
A glance at the average cost of living in Switzerland
Expense Category | Percentage from Total Expenses |
Transportation | 8.6% |
Clothing And Shoes | 1.9% |
Sports And Leisure | 5% |
Markets | 28.6% |
Monthly Utilities | 5.7% |
Rent Per Month | 26.8% |
Restaurants | 16.6% |
Buying an apartment | 6.7% |
Source: Numbeo
Also Read: Best budgeting apps to manage your finances
Average living cost in Switzerland: Single vs Student vs Family
Type of expense | Avg. cost per month for student | Avg. cost per month for singles | Avg. cost per month for family |
Housing & rent | CHF 1,004 | CHF 1,440 | CHF 2,667 |
Food/groceries | CHF 863 | CHF 784 | CHF 2,070 |
Transportation | CHF 76 | CHF 116 | CHF 318 |
Utility (electricity, water, heating, etc. ) | CHF 214 | CHF 140 | CHF 215 |
Source: Livingcost.org, UniAcco
An overview of monthly rents in Switzerland
Expense Category | Item | Avg. cost per month |
Housing | 1-bedroom apartment (in the city centre) | CHF 1,692 |
1-bedroom apartment (outside the city centre) | CHF 1,369 | |
3-bedroom apartment (in the city centre) | CHF 3,036 | |
3-bedroom apartment (outside the city centre) | CHF 2,478 |
Source: Numbeo
Average cost of living in Switzerland – Citywise
Type of expense | Zurich | Geneva | Basel | Lausanne |
Avg. Monthly Salary (after taxes) | CHF 5,808 | CHF 5,774 | CHF 6,641 | CHF 5,168 |
Cost of living (single) | CHF 2,993 | CHF 2,892 | CHF 2,497 | CHF 2,397 |
Cost of living (family) | CHF 7,379 | CHF 7,315 | CHF 6,795 | CHF 6,433 |
Rent & utilities (single) | CHF 1,763 | CHF 1,760 | CHF 1,306 | CHF 1,281 |
Rent & utilities (family) | CHF 3,121 | CHF 3,335 | CHF 2,590 | CHF 2,528 |
Food (single) | CHF 796 | CHF 808 | CHF 829 | CHF 797 |
Food (family) | CHF 2,109 | CHF 2,125 | CHF 2,187 | CHF 2,094 |
Transport (single) | CHF 189 | CHF 109 | CHF 114 | CHF 93 |
Transport (family) | CHF 519 | CHF 304 | CHF 314 | CHF 255 |
The overall quality of life | 97 | 95 | 96 | 93 |
Source: Livingcost.org (Refer citywise pages)
Switzerland Tax scenario
In Switzerland, non-residents only need to pay taxes on income and wealth generated from Swiss sources. Taxes are charged at three levels: federal, cantonal and municipal. The tax rates are progressive at most levels but can be flat at cantons.
All income is combined on one tax return and deductions are applied to determine taxable income. Non-residents may also benefit from double taxation treaties that can affect their taxable amount.
Here is an overview of the Direct Federal Tax on income for 2024:
Category | Taxable income (CHF*) Over amount | Taxable income (CHF*) Not Over amount | Tax on column 1 (CHF) | Percentage of excess (%) |
Single taxpayers | 0 | 15,000 | – | – |
15,000 | 32,800 | – | 0.77 | |
32,800 | 42,900 | 137.05 | 0.88 | |
42,900 | 57,200 | 225.90 | 2.64 | |
57,200 | 75,200 | 603.40 | 2.97 | |
75,200 | 81,000 | 1,138.00 | 5.94 | |
81,000 | 107,400 | 1,482.50 | 6.60 | |
107,400 | 139,600 | 3,224.90 | 8.80 | |
139,600 | 182,600 | 6.058.50 | 11.00 | |
182,600 | 783,200 | 10,788.50 | 13.20 | |
783,200 | 90,067.70 | 11.50 | ||
Category | Taxable income (CHF*) Over amount | Taxable income (CHF*) Not Over amount | Tax on column 1 (CHF) | Percentage of excess (%) |
Married taxpayers and single taxpayers with minor children | 0 | 29,300 | – | – |
29,300 | 52,700 | – | 1 | |
52,700 | 60,500 | 234 | 2 | |
60,500 | 78,100 | 390 | 3 | |
78,100 | 93,600 | 918 | 4 | |
93,600 | 107,200 | 1,538 | 5 | |
107,200 | 119,000 | 2,218 | 6 | |
119,000 | 128,800 | 2,926 | 7 | |
128,800 | 136,600 | 3,612 | 8 | |
136,600 | 142,300 | 4,236 | 9 | |
142,300 | 146,300 | 4,749 | 10 | |
146,300 | 148,300 | 5,149 | 11 | |
148,300 | 150,300 | 5,369 | 12 | |
150,300 | 928,600 | 5,609 | 13 | |
928,600 | 106,788 | 11.5 |
Source: PWC Worldwide Tax Summaries-Switzerland
What salary do you need to live in Switzerland?
The average salary required to live comfortably in Switzerland can vary depending on various lifestyle choices. Switzerland’s high quality of life comes with a high cost of living. Overall cost of living in Switzerland is 2.77 times more expensive than the world average.
On average, a single person living in Switzerland would require CHF 2,569 per month including rent charges. Couples would require CHF 3,302, while a family of four would require around CHF 6,605.
Considering these estimates an average salary ranging from CHF2360 to CHF2590 should suffice for a single individual to live comfortably in Switzerland.
What should be your monthly budget to live in Switzerland?
Category | Student | Single | Family |
Housing/Rent | CHF 900-CHF 1,200 | CHF 1,200-CHF 1,600 | CHF 2,300-CHF 2,900 |
Utilities | CHF 150-CHF 250 | CHF 120-CHF 160 | CHF 180-CHF 280 |
Groceries | CHF 600-CHF 1,200 | CHF 800-CHF 1,400 | CHF 1,800-CHF 2,400 |
Transportation | CHF 50-CHF 100 | CHF 90-CHF 130 | CHF 280-CHF 350 |
Other (entertainment, shopping, personal care) | CHF 100-CHF 200 | CHF 150-CHF 300 | CHF 200-CHF 400 |
Total##(approximately) | CHF 1,800-CHF 2,950 | CHF 2,360-CHF 2,590 | CHF 3,760-CHF 4,930 |
##It is an approximate value based on consumer prices and an individual’s average living expenses. It is advisable to consider income level, spending habits, location, and specific monthly expenses to calculate an accurate budget.
Also read: Common money mistakes to avoid when living abroad
Do’s and don’ts
Do’s
- Apply for university accommodation to save on rent and transportation costs.
- Use public transport efficiently.
- Consider investing in a used bicycle.
- Buy non-food items online.
- If you’re a student, take advantage of student discounts in various stores.
- Be organised with your budget and track your expenses.
- Buy second-hand goods to save money on clothing and other items.
- Participate in free or low-cost university and community activities.
- Use the Swiss day pass for discounted long-distance train travel.
Don’ts
- Avoid eating out frequently.
- Refrain from impulse buying.
- Avoid using credit cards for everyday purchases.
- Compare various packages from internet service providers and choose the one that is budget-friendly and aligns with your needs.
- Don’t forget to compare health insurance.
Also Read: A quick guide to building a saving habit
Top cities for students and job seekers
Zurich
Zurich offers a high quality of life for working professionals and students. With top-ranked schools and a strong international community, the city offers some of the best bilingual education options for families and students.
Zurich has a clean environment and excellent public transport. The concentration of international companies and corporate parks also ensures high salaries for working professionals.
Average cost of living per person: CHF 2,993 per month
Geneva
Geneva offers abundant job opportunities for working professionals. Its esteemed educational institutions also make it an ideal place for students. The city’s beautiful natural setting and the diverse international community make it an attractive place to live, learn, and work.
Average cost of living per person: CHF 2,892 per month
Basel
Basel offers a dynamic economy and is a great city for life sciences. Major companies like Novartis and Roche are headquartered in this city. This has undoubtedly led to a diverse job market, making it ideal for skilled professionals.
The excellent schools and safe neighbourhoods also make it a great place for international students to live and learn.
Average cost of living per person: CHF2497 per month
Lausanne
Lausanne offers a high quality of life with its access to academic excellence and economic opportunities. It is a hub for innovation and home to prestigious universities like École polytechnique fédérale de Lausanne (EPFL) and University of Lausanne (UNIL).
The city’s efficient transportation and strong focus on health and well-being make it an ideal environment for professionals and students to thrive.
Average cost of living per person: CHF 2,397 per month
Before you go…
If you are planning to move to Switzerland, evaluate your finances in advance. Considering factors like the cost of living in your target city and current income levels in Switzerland for your field can help you strategise your finances effectively.
A key aspect of your finances upon relocation will be choosing a reliable and secure fund transfer service to send money to India from Switzerland. Instarem, a renowned money transfer provider, is licensed and regulated in 11 countries. It offers fast** money transfers to ensure your transactions are completed hassle-free.
Moreover, Instarem has no hidden charges associated with your international transfers. This gives a clear idea of your expenditure for every transfer you make. Beyond the secure transactions, Instarem offers competitive conversion rates for international currency like CHF to INR.
Moreover, this affordable# and quick** transaction service is now available on the AppStore or Google Play.
FAQs
Q. Is it expensive to live in Switzerland?
Yes. The average cost of living in Switzerland is 2.77 times more expensive than the world average.
Q. How much money do you need to live in Switzerland?
While the exact figure can vary based on lifestyle choices and the city of accommodation, budgeting for at least CHF 2,569 per month per person is essential for a comfortable living.
Q. How much does it cost for international students to live in Switzerland?
It can cost international students anywhere between CHF 1,800 and CHF 2,950 per month to live comfortably on or off campus.
Q. Is it cheaper to live in Sydney or Switzerland?
The cost of living in Australia is 21% less than Switzerland’s. The average after-tax salary covers 1.9 months in Zurich, of Switzerland’s living expenses, and 1.4 months in Sydney, Australia.
Q. What is the average room rent in Switzerland?
The average room rent for a 1 bedroom apartment in the city centre can cost around CHF 1,693.
Q. How much is the cost of living in Switzerland for a month?
The average monthly cost of living in Switzerland for a single person is around CHF 2,569 per month.
Q. How much is the cost of living in Switzerland for a couple?
The basic monthly cost of living in Switzerland for a couple ranges around CHF 3,302.
Q. What is the cost of living in Switzerland for a single person?
The average annual cost of living in Switzerland for a single person is around CHF 2,569 per month.
Q. What is the cost of living in Switzerland for a family?
The cost of living in Switzerland for a family is CHF 6,605 per month.
Q. What is a good salary in Switzerland?
A good salary in Switzerland for comfortable living depends upon various factors such as lifestyle, location and career field. However, a budget of around CHF 2,360 – CHF 2,590 should suffice for a single person to live comfortably in Switzerland.
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Disclaimer:
- This article is intended for informational purposes only. All details are accurate at the time of publishing. Instarem has no affiliation or relationship with the products or vendors mentioned.
- Prices mentioned in this blog are subject to change.
- ** Fast means 75% of our transactions are completed in 15 minutes. Depending on the funding method.
- # When it comes to affordable exchange rates and fees, it’s worth noting that the cost will vary depending on how you choose to fund your transactions. Credit card funding and bank transfer fees can differ significantly.
- All currency conversions were made from https://www.forbes.com/advisor/in/money-transfer/currency-conversion-calculator/ on 30th July 2024.
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