Banja Luka is a small city located in Bosnia and Herzegovina with a metropolitan area population of 195,692. A couple could live a moderate lifestyle in Banja Luka on a budget of $1,203 per month, or $14,440 per year.
Cost of Living in Banja Luka, Bosnia and Herzegovina
As noted above, the cost of living in Banja Luka, Bosnia and Herzegovina is $1,203 per month for a couple living a moderate lifestyle. This budget consists of $568 for housing related costs, $286 for food, and $350 for other costs, all of which will be broken down below.
- A one-bedroom apartment in the city center of Banja Luka is estimated to cost $337
- Basic utilities including electricity, water, and gas will run about $202
- High-speed internet averages $29
- Typical grocery costs of $220 per month include things like bread, eggs, milk, cheese, rice, chicken breast, bottled water, fruits, and vegetables
- Alcohol including beer and wine for moderate home consumption costs about $40
- Frequent coffees in a neighborhood café are estimated to be about $26
- Meals out are estimated to be $201 per month, including 4 meals in mid-range restaurants and 8 in inexpensive restaurants
- Transportation costs of $71 for public transport passes and occasional taxis
- Fitness center memberships of $61
- Cinema tickets of $16 include several outings for international releases
Note that Banja Luka, Bosnia and Herzegovina is a very walkable city with a Walk Score of 87/100, which means you won’t need a car if you are living in the city center and you may even save some money by not using public transportation and taxis very often.
Amount of Money Needed to Retire in Banja Luka, Bosnia and Herzegovina
Many people searching the internet for the cost of living in Banja Luka, Bosnia and Herzegovina are doing so to see if and when they can quit their jobs and retire. A popular and easy way to calculate your retirement number is using the 4% Rule.
The 4% Rule estimates that a person(s) could withdraw 4% of their retirement nest egg and never run out of money. Using this calculation, a couple would need an investment portfolio of $360,996 to live a moderate lifestyle in Banja Luka, Bosnia and Herzegovina.
Annual expenses of $14,440 ÷ 4% = $360,996 portfolio needed.
Of course, everyone’s financial situation is different, and the above calculation could change based on any other sources of passive income and social security income.
Overall, the cost of living in Banja Luka, Bosnia and Herzegovina is affordable coming in at $1,203 for a couple living a moderate lifestyle. Those seeking to retire could do so comfortably with a retirement portfolio of $360,996.