Cost of Living in Bangalore Unveiled

Welcome to Bangalore – a bustling city full of exciting opportunities and cultural richness. With its pleasant weather, booming tech industry, and diverse history, Bangalore offers a perfect blend of old and new. In 2023, it ranked first in both the Ease of Living Index and the Municipal Performance Index.

Let's explore this vibrant city together and understand the cost of living in Banglore to make the most of your Bangalore experience!

What is the Cost of Living in Bangalore?

The cost of living in Bangalore varies depending on accommodation preferences and family size. While bachelors may find more affordable housing options, families and working couples face higher expenses due to larger accommodation needs and additional household requirements. Transportation costs also vary, with public transport offering a cheaper alternative than owning a car.

For bachelors, renting a 1 BHK apartment can cost around Rs. 15,000 per month, with additional expenses averaging around Rs. 10,000. A monthly bus pass can keep transportation costs under Rs. 1,000.

Families may incur higher monthly expenses, ranging from Rs. 40,000 to Rs. 50,000, including rent for a 2 BHK apartment (Rs. 16,000 to Rs. 35,000) and various household expenditures.

Working couples can expect to spend around Rs. 25,000 to Rs. 30,000 monthly on rent, with overall household expenses averaging around Rs. 35,000, potentially increasing if they own a car.

Cost of Living in Bangalore: Factors to Consider

• Property Ownership or Rental

  Buying or renting a property significantly impacts your living expenses in Bangalore. Rental costs vary based on factors like location, size, and amenities. On average, a 1BHK apartment can be rented for around Rs. 15,000 per month, while a 2BHK may range from Rs. 16,000 to Rs. 35,000 monthly.

• Job or Profession

  The nature of your occupation plays a pivotal role in determining your financial stability and, subsequently, your cost of living. The average salary in Bangalore stands at approximately Rs. 6,48,000 per year, with variations based on experience and industry.

• Financial Status

  Your family's financial status directly influences your expenditure patterns and lifestyle choices. Understanding your financial standing helps in budgeting for essentials like housing, education, and healthcare. To maintain financial stability, you must align your expenses with your income.

• Family Size

  The size of your family impacts various aspects of living expenses, including accommodation, food, and childcare. Larger families may incur higher costs for housing and education, necessitating careful financial planning to meet all expenses comfortably.

• Lifestyle Options

  Your preferred lifestyle choices, such as dining out, entertainment, and recreational activities, contribute to your overall expenditure. Bangalore offers diverse lifestyle options catering to different preferences and budgets, allowing residents to tailor their spending accordingly.

• Childcare

  For families with children, childcare expenses constitute a significant portion of the overall cost of living. Daycare services can range from Rs. 5,000 to Rs. 15,000 per month, while school fees may vary from Rs. 5,000 to Rs. 25,000 monthly.

• Household Expenses

  Household expenses include transportation, groceries, utilities, and education. Utility costs in Bangalore typically range from Rs. 1,000 to Rs. 4,500 per month, including electricity, water, and internet charges.

Guide to Cost of Living in Bangalore

For Bachelors

For Family

For Working Couples

For Owning Property

For Renting Property

For Co-living Properties

Cost of Accommodation

The table below also provides the approximate costs for purchasing and renting properties in the most budget-friendly and upscale neighbourhoods.

Cost of Food

Cost of Utilities

Cost of Transport

Cost of Electricity

Cost of Entertainment

Cost of Groceries

Cost of Childcare and Schooling

Cost of Fitness and Leisure

Cost of Shopping

Tips to Reduce the Cost of Living in Bangalore

Choose the Right Locality to Live in

Mid-level localities such as Malleshwaram and BTM Layout provide a balance between affordability and amenities. Consider areas like Uttarahalli or Rajarajeshwari Nagar, where rental prices are lower, for a more cost-effective option.

Eat at Home Rather than Dining out or Ordering in

Cooking at home can save you a substantial amount, with groceries being relatively affordable in Bangalore.

Consider hiring a cook if you prefer convenience without the hassle of cooking after a long day. You can reduce food expenses by up to 70% by preparing meals at home.

Use PG for Accommodation Instead of Renting a House/Room

If rental costs in your preferred locality are high, consider opting for a PG (Paying Guest) accommodation. PGs offer basic amenities at a lower price than renting a house or room with access to Wi-Fi, electricity, and laundry.

Use Public Transport Instead of Driving Yourself / Private Transport

Navigating Bangalore's notorious traffic can be both time-consuming and costly. Public transport options such as the Bangalore Metro and BMTC buses offer a more economical alternative to driving while minimising stress levels associated with traffic congestion.

Shop from the Source

Consider purchasing items directly from wholesale markets and specialised areas in Bangalore to save on shopping expenses.

SP Road is renowned for electronic items, while JC Road offers automobile spares and services. Avenue Road is a hub for books and stationery, while Chickpet is ideal for textiles and household items.

Plan Your 'Unwinding' Routine According to Your Budget

While Bangalore offers many entertainment options, indulging excessively can strain your budget. Plan your outings and leisure activities according to your budget to save money.

Conclusion

What is the cost of living in Bangalore?

The cost of living in Bangalore varies based on factors like accommodation needs. Bachelors may find cheaper options as compared to the ones in families.

Cost of living in Bangalore: Factors to consider

• Property Ownership or Rental
• Job or Profession
• Financial Status
• Family Size
• Lifestyle Options
• Childcare
• Household Expenses

Guide to cost of living in Bangalore

Various factors influence the overall cost of living and vary depending on living arrangements, whether as a family, individual, couple, or student. Factors such as food, utilities, transport, electricity and more affect the cost of living in Bangalore.

Tips to reduce the cost of living in Bangalore

• Choose the right locality to live in
• Eat at home rather than dining out or ordering in
• Use PG for accommodation instead of renting a house/room
• Use public transport instead of driving yourself / private transport
• Shop from the source
• Plan your 'Unwinding' routine according to your budget