True Burn

Istanbul, Turkey

Can I live in Istanbul on $2,500/month?

Istanbul is probably one of the best value cities for expats and digital nomads. This is a world-class city with a surprisingly low cost of living. You could live here comfortably on just over $2,000 per month.

Istanbul also offers excellent health care, great food, a relatively easy residency process, and loads of history and culture. All of the modern comforts you can imagine are available here. It’s also a beautiful city. The views of the Bosphorus are incredible.

One of the best parts of Istanbul is the location. The city is conveniently located between Europe, Asia, and Africa. It’s a major hub in the region. This makes trips home easy and affordable. It is also great for those who travel frequently.

One drawback is that taxes are high on imported goods. Electronics here are expensive. If you like to buy lots of new phones, cameras, etc., the cost will add up. The language barrier can also be an issue at times.

Starting numbers checked . Every line below is editable. The estimates include often-forgotten costs like flights home and visas, plus what you lose moving money into TRY. The calculator will show you your true monthly burn rate as well as your adjusted exchange rate.

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01

Money in

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02

True FX

How you turn this money into something you can spend.

How you receive money

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After fees

1 USD = 47.66 TRY

Mid-market is 48.00. You lose about 7.00 USD per $1,000 moved.

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Change these if your app or bank is different from the typical numbers.

03

Monthly costs

Start with these. Turn off anything that isn’t you.

Forgotten expenses

$508/mo

Expenses people often forget

›

Flights home, visas, a house helper. Turn off anything that isn’t you.

True monthly burn

$2,125

101,997 TRY

Keep $375

Istanbul cost of living breakdown

The figures the calculator starts with plus some notes. Everything here is an estimate you should change for your situation.

Monthly cost of living estimates for Istanbul, Turkey, in USD
ExpenseStarting estimatePer month
Everyday costs$1,410/mo
Rent$700/mo$700

I rented a studio apartment in Beyoğlu for about $650 per month. It was about a 10-minute walk from Istiklal Street and a 15-minute walk from Taksim Square. The location was excellent for the price. A 1-bedroom in the same area would probably cost closer to $700. There are cheaper neighborhoods like Esenyurt, where you could rent an apartment for $600 or so.

Utilities$70/mo$70
Food$350/mo$350

Istanbul is an incredible food city. You can get a delicious kebab meal for around $7-$9. I went out to dinner with a friend and the whole meal cost $25. I was surprised at how affordable it was. There is also some nice street food.

Transport$50/mo$50

Istanbul has an extensive public transportation system. There are metros, buses, ferries, and trams. You can get around the city for a very reasonable price. A single ride on the metro costs 46.2 Turkish lira or about $1.00. A monthly transport pass costs about $75. There is also a really convenient airport bus called the Havaist Airport Bus. Tickets cost 120-180 lira. These make it really easy to travel.

Phone & internet$40/mo$40

An average cell phone bill costs $10-$15. It's important to note that if you bring your phone from home, you will only be able to use it for 120 days before it is blocked on Turkish networks. You will have to pay a registration tax of around $1,200. To avoid this, it's best to buy a phone in Turkey if you're staying long-term.

Health (local)$50/mo$50
Entertainment$150/mo$150
Easy to forget$508/mo
Flights homeHolidays, family visits$1,400/yr$117

Istanbul is a major aviation hub. You can catch flights to pretty much everywhere in the world from here. When I fly home to visit, a one-way ticket to the U.S. West Coast usually costs around $600-$700.

In-country tripsWeekends, nearby cities$600/yr$50

There are lots of great day trips you can take from Istanbul. You can take a ferry to the Princes' Islands or visit the historic city of Bursa. If you have a bit more time, you could catch a budget flight to your favorite European capital. Several European budget airlines fly to Istanbul. You can often find round-trip tickets for less than $100.

Visa / border runsPermits, overstays$200/yr$17
Travel insurance$50/mo$50
Phone, laptop, clothes$600/yr$50

Electronics are expensive in Turkey. In fact, it's one of the most expensive places in the world to buy a smartphone due to high taxes. It's best to bring laptops and other gear from home rather than buying them here.

Laundry / cleaning help$30/mo$30
Medical bufferClinics, meds insurance skips$50/mo$50

Istanbul is one of the most popular medical tourism destinations in the world. You can get a basic consultation for around $50. A full check-up costs around $500. Of course, cosmetic work is extremely popular here as well.

Emergency fund$100/mo$100
SubscriptionsStreaming, iCloud, software$30/mo$30
Home SIM for 2FA$15/mo$15
Bad-week buffer, 10% on top$192
Cost of moving money in via Wise$15
True monthly burn in Istanbul$2,125

That is about 101,997 TRY a month at roughly 48 TRY to 1 USD; the calculator above uses the live rate. On $2,500 a month you would keep $375, and $10,000 of savings would last 4.7 months with no income. 5 more expenses are switched off by default. Turn on the ones that apply to you.

Run the numbers somewhere else

Same calculator, different starting figures. Istanbul lands at $2,125 a month on the defaults above.

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