🇲🇳 Cost of Living in Mongolia - Prices & Budget Guide
Last updated: February 2026
Verified Facts
Official NameMongolia
CapitalUlan Bator
Population3.5 million
Area1,564,110 km² (603906 sq mi)
LanguagesMongolian
CurrencyMongolian tögrög (₮)
TimezoneUTC+07:00, UTC+08:00
RegionAsia / Eastern Asia
Drives onRight
Source: REST Countries API
Economic Indicators
GDP per Capita (PPP)$19,145 (2024)
Inflation Rate6.2% (2024)
Health Spend per Capita$360 (2023)
Out-of-Pocket Health Spend48.8% (2023)
Education Spend (% GDP)3.7% (2023)
Source: World Bank Open Data
Quick Facts
Cost LevelAffordable
Daily Budget (Backpacker)$20-40 USD
Daily Budget (Mid-Range)$40-80 USD
Daily Budget (Comfort)$80-150 USD
CurrencyMNT
Tipping Customnot expected
How Expensive Is Mongolia?
Mongolia is a relatively affordable country to visit or live in, especially when compared to its neighbors, Russia and China. The cost of living in Mongolia is lower than in many other Asian countries, making it an attractive destination for travelers and expats. The country's economy is largely based on agriculture and mining, which contributes to its affordable cost of living. However, prices in the capital city, Ulaanbaatar, are generally higher than in other parts of the country.
Overall, Mongolia offers a great balance of affordability and quality of life, making it an excellent choice for those looking to experience a unique and traditional culture without breaking the bank. The country's stunning natural beauty, rich history, and friendly people make it an attractive destination for tourists and expats alike. From the modern amenities of Ulaanbaatar to the traditional ger camps of the countryside, Mongolia has something to offer for every budget and preference.
Accommodation Prices
Type
Price Range (USD/night)
Notes
Hostel/Budget
$5-15
Basic dorms and shared facilities
Mid-Range Hotel
$20-50
Private rooms with en-suite bathrooms and basic amenities
Luxury/Resort
$50-150
High-end hotels and resorts with modern amenities and services
Apartment Rent (monthly)
$100-500
City center apartments are more expensive than those outside the city
Food & Dining Prices
Meal Type
Price Range (USD)
Street Food / Local Eatery
$1-3
Casual Restaurant
$5-10
Mid-Range Restaurant (2 people)
$15-30
Fine Dining
$30-50
Beer (local)
$2-5
Coffee
$1-3
Water (1.5L bottle)
$0.50-1.50
Transport Costs
Transport
Cost (USD)
Local bus/metro ride
$0.20-0.50
Taxi (per km)
$0.50-1.00
Domestic flight
$50-200
Fuel (per liter)
$0.50-1.00
Monthly Budget Breakdown
Category
Budget ($)
Mid-Range ($)
Comfortable ($)
Rent
100-200
200-400
400-800
Food
100-200
200-400
400-600
Transport
20-50
50-100
100-200
Utilities
20-50
50-100
100-200
Entertainment
50-100
100-200
200-500
Total
390-700
700-1400
1400-2800
Money-Saving Tips
Consider staying in a ger camp or hostel instead of a hotel to save on accommodation costs
Eat at local eateries or street food stalls instead of mid-range or fine dining restaurants
Use public transport or walk instead of taking taxis to get around
Buy snacks and drinks at local markets instead of convenience stores
Avoid traveling during peak season (June to August) to save on accommodation and tour costs
Learn some basic Mongolian phrases to negotiate prices and interact with locals
By following these tips and being mindful of your expenses, you can have a comfortable and enjoyable experience in Mongolia without breaking the bank. Whether you're a backpacker, a mid-range traveler, or looking for a comfortable experience, Mongolia has something to offer for every budget and preference. With its unique culture, stunning natural beauty, and friendly people, Mongolia is a destination that is sure to leave a lasting impression on any traveler.