If you're planning to move to Latvia in 2026, here's what things cost
Monthly Cost Breakdown
| Category | Monthly Cost | Notes |
|---|---|---|
| Rent (1BR, City Centre) | €650 | Largest expense |
| Rent (3BR, City Centre) | €950 | For families |
| Groceries | €280 | One person, home cooking |
| Public Transport | €68 | Monthly pass |
| Utilities (85m2) | €95 | Electricity, water, heating |
| Dining Out (per meal) | €8 | Inexpensive restaurant |
| Total (Single Person) | €1,157 | Comfortable lifestyle |
Income vs Expenses
| Income Metric | Amount |
|---|---|
| Average Salary (Gross) | €1,575/month |
| Minimum Wage | €700/month |
| Salary After Rent (1BR) | €925/month |
With an average salary of €1,575 and rent of €650, approximately 41% of income goes to housing.
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Cost Indices (vs New York City = 100)
| Index | Score | Interpretation |
|---|---|---|
| Cost of Living | 52.3 | Moderately cheaper NYC |
| Rent | 11.9 | Much cheaper NYC |
| Groceries | 47.5 | Cheaper NYC |
| Restaurant Prices | 54.6 | Cheaper NYC |
| Local Purchasing Power | 77.7 | Lower than NYC |
Money-Saving Tips
- Shop at local markets: Fresh produce is typically 20-40% cheaper than supermarkets
- Cook at home: Eating in saves 60-70% compared to dining out
- Use public transport: Monthly passes are much cheaper than car ownership
- Live outside the centre: Suburbs offer 20-40% lower rent with reasonable commutes
- Compare utilities: Switch providers for electricity and internet to get better deals
- Student discounts: Available for under-26s on transport, museums, and cultural events
Salary by Sector
| Sector | Entry Level | Median | Senior |
|---|---|---|---|
| It | €29,500 | €42,000 | €59,000 |
| Retail | €7,500 | €11,000 | €15,500 |
| Finance | €19,500 | €28,000 | €39,000 |
| Education | €10,000 | €14,000 | €19,500 |
| Healthcare | €11,500 | €16,500 | €23,000 |
| Engineering | €17,000 | €24,000 | €33,500 |
| Hospitality | €8,500 | €12,000 | €17,000 |
| Construction | €13,500 | €19,000 | €26,500 |
Figures are annual gross salaries in EUR.
Frequently Asked Questions
How much should I save before moving to Latvia?
Based on a monthly budget of €1,157, we recommend saving at least 3-6 months of expenses (€3,471 to €6,942) plus visa/relocation costs. Add a buffer for unexpected expenses during your first months.
Is Latvia expensive compared to other countries?
With a cost of living index of 52.3/100 (where NYC = 100), Latvia is moderately cheaper than NYC. Use our assessment tool to compare with your current location.
How much are utilities in Latvia?
Monthly utilities (electricity, heating, water, garbage) for an 85m2 apartment cost approximately €95. Internet typically adds another €20-50/month. In colder climates, heating can significantly increase winter bills.
How much does dining out cost in Latvia?
A meal at an inexpensive restaurant costs approximately €8. The restaurant price index is 54.6/100 compared to New York City. Budget €240 per month if you eat out regularly.
What is the minimum wage in Latvia?
The minimum wage in Latvia is approximately €700/month. This compares to an average salary of €1,575. Note that minimum wage may not apply to all sectors or expat workers.
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