What a month in Seoul costs
Seoul surprises many visitors in both directions. Monthly rent for a small studio-style officetel is low compared with other rich-world capitals, at around ₩700,000 a month, and subway rides cost little more than a dollar. Fruit, beef and imported groceries, on the other hand, can cost more than in the US.
On a moderate budget for one person, our figures put Seoul at about $1,890 a month against about $3,190 for the US average, so roughly 40% cheaper overall. The biggest saving is rent, while groceries actually come out higher than the US average.
The deposit catch
Korean leases work differently. Most monthly rentals, called wolse, ask for a deposit of ₩5 million to ₩10 million up front, sometimes more, which you get back at the end of the lease. A larger deposit lowers the monthly rent. Some long-term leases, called jeonse, replace monthly rent entirely with a very large deposit. Budget for the deposit as savings you will tie up, not as spending.
Where the numbers come from
Rent is a typical asking rent for a one-bedroom apartment in the main city we list for each country, taken from 2026 listings and local market reports and converted to dollars at the exchange rate of October 28, 2026. Rent is the number that varies most from street to street, so the calculators let you change it whenever you have a better figure.
Everything else starts from a monthly budget for one person in the United States: about $450 for groceries, $250 for eating out, $200 for utilities, $90 for phone and internet, $300 for transport and $350 for clothes, personal care and fun. Each line is then scaled by the World Bank's International Comparison Program price levels for that type of spending, and brought forward from 2021 with the World Bank's latest price level data, so a country where restaurant meals cost a third of US prices gets a third of the eating-out budget.
These are planning estimates, not quotes. A lean budget uses 75% of the moderate one with cheaper rent, and a comfortable budget uses 150% with nicer rent. Visas, health insurance and flights are not included unless a calculator asks for them.
Common questions
How much do you need a month to live in Seoul?
About $1,900 a month for one person on a moderate budget, or around $1,450 on a lean one, plus a refundable rental deposit.
Is Seoul cheaper than the US?
Overall yes, by about 40% on our figures, mostly thanks to lower rent and transport. Groceries cost about the same or more.
What is the deposit for a Seoul apartment?
Typically ₩5 million to ₩10 million for a monthly-rent officetel, returned when you move out.
Sources
This calculator gives estimates for planning. Real returns, rates and prices change, so treat the result as a guide rather than a promise. Read how we build and check our calculators.