Cost of Living in Hanoi 2024: Is it Expensive for Foreigners to Live Comfortably in the Capital City of Vietnam?

Are you considering making plans to move to Hanoi, Vietnam for living and working? Financial concerns are likely to be the first hurdle in this plan. According to the latest survey, the average monthly expenditure for expatriates living in Vietnam typically falls around $500 with no rent money. If so, let's explore together with Giscoo Job Hub about the cost of living in Hanoi in 2024 to see if the prices there truly align with your budget!

Besides, are you wondering how to apply E-visa to Vietnam 2024, check it out here: Apply E-visa to Vietnam in 2024

Accommodation

Hanoi's housing options cater to the diverse needs of foreigners. The city offers a blend of modern apartments equipped with modern facilities. These types can range from $400 to $700 per month for a one-bedroom apartment or $700 and upwards for a modern two-bedroom unit monthly. Additionally, there are choices for furnished or unfurnished rentals, with a variety of sizes and styles available in.

When leasing an apartment, it's common for landlords to request a deposit to ensure security. The monthly rental deposit in Vietnam can fluctuate, influenced by factors like location, accommodation type, and landlord preferences. Usually, this deposit amounts to one, two, or even six months' rent. So you need to take note of this part as well. 

Monthly utilities

Electricity

Hanoi continues to offer relatively affordable electricity rates for residents, contributing to the city's overall affordability. The pricing structure based on kWh consumption remains in place. On average, the price per kWh can range from approximately $0.07 to $0.13. It's advisable to adopt energy-saving habits to keep electricity costs at a reasonable level.

Internet and Phone Services

SIM cards in Vietnam are incredibly cheap. For a mere $5, you can acquire a SIM card bundled with 2 GB of mobile data. Should you require a monthly data package, you can access 28 GB of mobile data for just $6.

Internet access is frequently encompassed within the rental fees for accommodations in Hanoi. The expense of internet provision in this country is notably fair. The majority of apartments and houses are equipped with pre-installed internet, readily available for use upon occupancy.

Transportation

Hanoi offers a diverse array of economical transportation options, encompassing buses, trains, taxis, and motorbikes, facilitating convenient and effective to discover Hanoi.

• Acquiring a motorbike: The average price for a new motorbike stands at approximately $1,000. Additionally, numerous motorbike repair shops provide pre-owned motorbikes at more budget-friendly rates.

• Fuel for your motorbike or car: The average cost of fuel for motorbikes hovers around $1 per liter, translating to roughly $10 per month based on individual driving patterns and mileage.

• Motorbike taxi services: Fares typically commence at around $0.50 and escalate depending on the distance traveled and demand. Besides, there are more and more tech-based motorbikes or taxis so it is becoming more easily for you to transfer with the cheaper price

• Bus and train travel: Opting for the bus represents one of the most economical modes of transportation, with tickets priced as low as $0.25 for local bus routes within the city. Nowadays, there is Line 2A Metro ( Cat Linh - Ha Dong) operating for easier transit with the monthly ticket - $4.

Eating

Choosing to prepare your own meals in Hanoi can be remarkably economical, with expenses typically ranging from $1 to $2 per meal. Opting for vegan recipes often results in even lower costs. Purchasing groceries at local markets is a financially savvy alternative compared to large chain supermarkets. Totally, you only need only $6 - $8 to fill your hunger the whole day.

Eating out in Hanoi not only offers affordability but also the chance to indulge in the city's culinary specialties. Street food vendors tantalize taste buds with iconic dishes such as pho, bun cha, and banh mi, typically priced between $1 and $2. In casual sit-down eateries or fast-food joints, you can savor these local delicacies along with other Vietnamese favorites for an average of $3 to $4 per meal. For those seeking a more upscale dining experience, Hanoi's fancier restaurants showcase an array of traditional and fusion dishes, with prices starting at approximately $6 and varying based on menu selections and ambiance. So, if you eat out monthly, the cost may start from $40 and more. 

Sports 

Engaging in sports in Hanoi can be quite affordable, with various options available to suit different budgets and preferences. The cost depends on factors such as the type of sport, location, and whether you choose to join a club or use public facilities.

For example, joining a local gym or fitness center typically involves a monthly membership fee ranging from $20 to $50, although prices may vary depending on the facilities and services provided.

If you prefer outdoor activities, joining a sports club or team for activities like football, volleyball, or basketball may involve nominal membership fees or contributions to cover expenses such as equipment and venue rentals. These costs can vary widely depending on the club's organization and activities.

For those who prefer individual sports like jogging or cycling, the cost is minimal, mainly consisting of purchasing suitable footwear and attire. Additionally, there are numerous public parks and recreational areas in Hanoi where you can enjoy these activities for free.

Conclusion

Overall, the cost of living in Hanoi in 2024 is considered quite affordable, especially compared to Western cities. From budget-friendly electricity rates to incredibly cheap SIM cards, everyday essentials won't strain your wallet. While housing costs can vary depending on factors like size and location, there's a wide range of options to suit different budgets. The bonus of many rentals including the internet adds another layer of affordability. So, if you're looking for a vibrant and exciting city with a low cost of living, Hanoi is definitely worth considering.

 

>> If you are interested in moving to Da Nang or Ho Chi Minh City, discover more in here: Cost of living in Danang in 2024 , Cost of living in Ho Chi Minh in 2024

>> Open more opportunities to work as an ESL teacher in Vietnam here: Top 5 English Centers to teach in Vietnam in 2024 , English Jobs for Non-native speakers