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MOVING TO NORWAY

Moving to Norway: How much money do I need to live in Bergen?

Bergen, the picturesque city on Norway’s west coast, is an excellent place to call home. But how much money will you need to live comfortably there? The Local takes a look at the numbers. 

Published: 27 September 2022 11:49 CEST
Updated: 17 November 2023 15:06 CET
Pictured are residential side streets in Bergen.
Here's how much money you'll need to live in Bergen. Pictured are the streets of Norway's second city. Photo by Lucija Ros on Unsplash

Norway’s second-largest city, Bergen, is famous for its picturesque UNESCO-listed harbour, and the city attracts tourists in their droves, charmed by the typically Norwegian architecture in the town. 

Bergen is also a popular landing spot for foreigners in Norway, with many calling Norway’s second city home due to work, studying there or falling in love with the place on a trip. 

However, Norway is a seriously expensive place to call home. So, how much money will you need to call Bergen home? 

Below we’ll crunch the numbers on the most essential costs. 

Rent: 5,500- 12,500 kroner

One thing that makes Bergen a much more attractive proposition than Oslo is the lower cost of renting. The average cost of renting in Bergen is around 12,542 kroner per month, according to figures from the rental agency Utleiemeglern.

If you just need to rent a room, then you can expect to pay more than half of this. Rental platform Hybel lists the average cost of a room in Bergen at just over 5,500 kroner per month. 

If you are in need of much more space, a dethatched house was on the market for an average of 17,490 kroner. 

Utilities: 1,000- 1,500 kroner

Average monthly energy prices have ranged between 1,39 kroner per kilowatt hour and 53 øre per kilowatt hour. 

Additionally, bills will become more expensive through the winter as temperatures drop and consumers use more power. 

Figures show the average monthly consumption for an apartment ranges from 300-500 kWh a month. Bigger homes will typically need more energy to power them. 

Estimates from a comparison site show that monthly energy bills for a home with an annual consumption of 8,500 kilowatts per year would be 450 kroner per month. Homes with a annual consumption of around 16,000 kilowatts per year will pay closer to 850 kroner per month. 

When renting in Norway, the landlord may cover the water and Wi-Fi bills. If they do not, then you can add another 500 kroner to the price of utilities.

Transport: up to 755 kroner

Compact would be one way to describe Bergen’s city centre. However, some more residential areas may be too far for some to walk. 

Transport in the city, both busses and the Bergen Light Rail, is handled by Skyss. A single ticket from Skyss for an adult costs 40 kroner, or more onboard. 

A monthly ticket costs 755 kroner, while a weekly one will set you back 235 kroner. A monthly ticket works out cheaper if you make more than 19 single trips in a month. 

Food: 4,270 kroner 

Consumption Research Norway (SIFO) estimates that the average cost of food for someone aged between 31- 50 was up to 4,270 kroner per month. 

Eurostat, which monitors price levels across the EU, EEA and EU candidate countries, has ranked Norway with the second highest price level index for food and non-alcoholic beverages.

Only Switzerland had a higher price level index than the countries monitored by the stats agency. A price level index measures the price levels of a given nation relative to other countries. This means that compared to the rest of the other countries measured, food and non-alcoholic beverages in Norway are the second most expensive overall. 

READ MORE: Five essential tips for saving money on food shopping in Norway

Childcare: 3,170 kroner

Roughly 90 percent of children living in Norway attend a kindergarten. The maximum price for a kindergarten spot in Norway is 3,050 kroner per month. This applies to both municipal and private kindergartens. However, other fees and costs are typically involved too. 

According to national data agency Statistics Norway (SSB) the average cost of childcare in Bergen was 3,170 kroner. 

You can shop around to find cheaper kindergartens or one that more suits your need. 

READ MORE: Everything parents in Norway need to know about preschool

It’s unlikely that you’ll want to be sat all week indoors after moving to a new city, so you’ll obviously want to know how much you can expect to shell out for one of the country’s infamously expensive beers while out:

Beer: 99-125 kroner 

Glass of wine: 105-115 kroner

Cocktail: 120-140 kroner

Coffee: 48 kroner 

Cinema: 140- 180 kroner 

Meal for two at a mid-range restaurant: 700-900 kroner

A cinnamon bun or hot dog: 50-65 kroner

Gym membership: 450-750 kroner

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MONEY

EXPLAINED: How wealthy is the ‘average’ Norwegian? 

Norway is known for its high wages and stable economy. New figures have revealed the wealth of the average resident in the Nordic country. 

Published: 23 April 2024 15:50 CEST
EXPLAINED: How wealthy is the 'average' Norwegian? 

High salaries go hand in hand with the high cost of living in conversations about Norway.

However, other factors, such as high homeownership rates, indicate that there is plenty of disposable income for locals to save and invest in their futures. 

Previous studies have also suggested that Norwegians are the seventh wealthiest nationals in the world. 

Norway’s national data agency, Statistics Norway, has compiled its own set of figures indicating that the average Norwegian household has a net wealth of around 3.8 million kroner. 

Net wealth accounts for everything a person owns, including property, stocks, or cash, minus any debts or liabilities. 

The vast majority of this wealth was derived from the estimated value of property. This alone gives the average Norwegian an estimated wealth of 3.74 million kroner. 

READ ALSO: How much does an apartment in Norway cost?

The value of second homes was included, which skewed things as only around 10 percent of households owned a secondary residence. 

The average price of a home in Norway was 4.5 million kroner in March of this year, and house prices have increased substantially in recent years. 

Savings, cash, stocks and other capital accounted for 1.72 million kroner, giving Norwegians an average wealth of 5.46 million kroner. Average debts of 1.68 million kroner gave Norwegians an average net wealth of 3.8 million kroner.  

The figures from Statistics Norway were obtained using figures from tax returns for 2022, which were submitted in 2023.  

Those aged between 67 and 79 years old were the wealthiest generation in Norway on average. This is partly because they have more capital than most other groups and more expensive property. 

However, the most significant factor is the lower levels of debt. They had half the debt of the next richest group, those aged between 55 and 69. 

Younger age groups weren’t as wealthier as they had much higher debts and lower capital. 

Still, Norway’s wealthiest individuals significantly boosted the average. When using the median, the average Norwegian household had a net wealth of just under 2 million kroner. 

When the median was applied to capital, the figure was 339,300 kroner compared to the average of 1.76 million kroner. 

The large difference in capital was attributed to Norway’s wealthiest individuals significantly pulling up the average. 

“This is mainly due to large fortunes in shares and securities, where a few own very much. Shares and other securities and share savings accounts are assets with a median value equal to zero, which indicates that these are not important asset items for most households,” the report said. 

Money kept in the bank was still important for most residents of Norway, though. The median value of bank deposits in Norway was 215,000 kroner, compared to the average of 600,000. 

The gulf between the average value of property owned and the median was roughly 500,000, with the median being 3.25 million kroner. 

Furthermore, Norway’s median debt level was around 860,000 kroner compared to the average of 1.67 million kroner. Around 85 percent of Norwegian households were in some form of debt. 

Significant differences also exist between Norway’s wealthiest and poorest residents. Residents belonging to the country’s poorest ten percent had an average net wealth of almost minus 1 million kroner. 

Meanwhile, Norway’s wealthiest ten percent had a net wealth of 19 million kroner. The top 50 percent also owned considerably more than the bottom 50 percent. 

“Despite the former comprising 1.27 million households, while the latter comprises approximately 25,000 households, the bottom 50 percent own only 4 percent of the total net worth, while the top 1 percent owned as much as 22.3 percent in 2022,” the report read. 

There was also significant variation in wealth depending on household type. For example, a single mother or father with a child aged between 6 and 17 had a net wealth of 2.24 million kroner, compared to a couple with children of the same age with an average net wealth of 5.12 million kroner. 

Typically, households with more than one person had more money as more than one wage earner likely lived at the address. 

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