Cost of Living in Stockholm

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Life in Scandinavia is generally expensive. That said, the cost of living in Stockholm is relatively affordable compared to other capitals, such as Oslo in Norway and the notoriously expensive Copenhagen in Denmark.

Out of the 226 cities surveyed for Mercer’s Cost of Living City Ranking for 2024, Stockholm ranked 102nd, which suggests its cost of living is much gentler than nearby Copenhagen (11th) and Oslo (52nd). Despite this, you should not expect to live cheaply in the Swedish capital.

As in most cities, your most significant expense in Stockholm is accommodation. Rental prices can be astronomical, among the highest in Europe, and because housing is so pricey, many expats don’t even consider buying. Although highly efficient and extensive, public transport is also costly, as are many other services and goods in the city. High taxes also add to the overall cost of living.

Fortunately, salaries are typically generous and make up for Stockholm’s high living cost. Thanks to the excellent social benefits and lucrative employment opportunities, you’ll find that most expats enjoy a spectacular quality of life in the city.

Cost of accommodation in Stockholm

Accommodation in Stockholm is some of the priciest in Europe. The rental market is highly regulated, with a long waiting list, and property prices are steep and largely considered overvalued. Of course, demand is sky-high in Stockholm’s city centre, and the further away from the centre or the archipelago you search, the more affordable housing becomes.

You can expect to pay dearly if you want to live in an affluent area like Östermalm, for instance, while outlying areas such as Bromma will save you some money. We recommend reading and understanding your lease agreement thoroughly before renting and ensuring which utilities are included. Sweden is freezing during winter, which can lead to a hefty electricity bill.

Cost of transport in Stockholm

Although eminently punctual and seamlessly efficient, public transport in Stockholm comes at a cost. While purchasing monthly or annual passes can help curb the cost, it still adds up. Expats usually prefer not to purchase a vehicle, as fuel prices make it largely impractical. Taxis and ride-hailing services are available and on par with the rates of those in other major European metros.

Stockholm is a city designed with sustainability in mind. It promotes cycling and walking as cost-effective and eco-friendly alternatives to motorised transport. The city boasts an extensive network of well-maintained cycling lanes and pedestrian pathways, making non-motorised commuting a viable option. Investing in a good bicycle or simply embracing a more active lifestyle can significantly help reduce your transport expenses.

Cost of groceries in Stockholm

Sweden imports most of its fresh produce, increasing the prices of these items in supermarkets. Meat, fish, and dairy products are a little cheaper, and with affordable foreign chains such as Netto and Lidl appearing in Stockholm recently, grocery shopping doesn’t have to be overly costly.

Local brands such as Hemköp, Coop and ICA aren’t too pricey either, as long as you stick to the larger shops towards the outskirts and avoid the smaller convenient branches in the city centre.

Cost of entertainment and eating out in Stockholm

Even expensive groceries will seem like a snip compared to the eye-popping prices on restaurant menus in Stockholm, which is why most expats cook rather than eat out. Eating out in Stockholm will cost a veritable arm and a leg.

Many expats earn lucrative salaries in the city, so most can afford the odd night out, but you should budget carefully for entertainment. Buying drinks in pubs can also be expensive, and attractions such as the theatre and cinema aren’t cheap either.

Of course, there are bargains to be had, and you should be on the lookout for restaurant specials, film nights and drink promotions at bars. It also depends on the area: a night out in a neighbourhood such as Södermalm will be far more affordable than one in an upmarket area such as Östermalm.

Cost of education in Stockholm

Education in Stockholm reflects a blend of quality and expense. While public schools are free, they may not always meet your expectations as an expat family in terms of language and curriculum. On the other hand, international schools offer curricula that expat children might be more accustomed to, but they come with substantial fees. Furthermore, the cost of supplementary educational materials, school trips, and other educational extracurriculars can also add up.

It’s prudent to research and budget for these costs well in advance. Some expats may find employers willing to contribute towards educational expenses as part of their relocation package, which can significantly ease the financial burden. Although international schools are known for their high costs, the standards of teaching and the facilities are typically excellent, making them well worth the cost.

Cost of healthcare in Stockholm

Sweden boasts a high standard of healthcare, and Stockholm is no exception. Taxes fund the healthcare system, and residents can access heavily subsidised medical services. The private healthcare sector in Stockholm can be expensive, but many expats opt for private healthcare for faster service and more personalised care.

We advise that you secure comprehensive health insurance to cover private healthcare costs. Even with insurance, the out-of-pocket costs for some services and medications can be high, so it’s wise to budget accordingly. Dental care, in particular, can be pricey and is not always covered by basic insurance plans. Therefore, considering a dental plan or setting aside funds for dental care is a sensible measure.

See Healthcare in Sweden for more information.