Cost of living in Switzerland – single, family & student

Expat life
16 Sep 2024
10 mins read
Written by pranit

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

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.orgUniAcco

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.

 

 

Other Related Articles

 

Cost of living in Dublin

Cost of living in France

Cost of living in Japan

Cost of living in Australia

Cost of living in USA

Cost of living in Singapore

Cost of living in Sydney

Cost of living in Melbourne

Cost of living in Perth

Cost of living in Brisbane

Cost of living in Ireland

Cost of living in Toronto

 

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.

 

Citations:

Get the app
About Instarem

Instarem stands at the forefront of international money transfer services, facilitating fast and secure transactions for both individuals and businesses. Our platform offers competitive exchange rates for popular currency pairs like USD to INR, SGD to INR, and AUD to INR. If you're looking to send money to India or transfer funds to any of 60+ global destinations, Instarem makes it easy for you. We are dedicated to simplifying cross-border payments, providing cutting-edge technology that support individuals and businesses alike in overcoming traditional fiscal barriers normally associated with banks. As a trusted and regulated brand under the umbrella of the Fintech Unicorn Nium Pte. Ltd., and its international subsidiaries, Instarem is your go-to for reliable global financial exchanges. Learn more about Instarem.

close icon
Select location
Australia flag
Australia
Austria flag
Austria
Canada flag
Canada
Global flag
Global
France flag
France
Germany flag
Germany
Hong Kong flag
Hong Kong
India flag
India
Ireland flag
Ireland
Japan flag
Japan
Malaysia flag
Malaysia
Netherlands flag
Netherlands
Singapore flag
Singapore
United Kingdom flag
United Kingdom
close icon
Select a language
English (EN)
close icon

Change location and language

You are on our United States of America website. Select below to change to another location.

Save changes