Comparing Financial Landscapes: Cost of Living in Ireland Vs. The United States


Taking a comparative approach, six Differences in the Cost of Living in Ireland vs the United States reveals the complexities of two contrasting economic environments. Investigate the subtle differences that influence daily living expenditures, from housing and healthcare to food and transportation.

Whether you’re thinking of moving or are simply interested in international economic dynamics, this book digs into the underlying differences between Ireland and the United States, shining light on the financial factors that distinguish each region.

Join us as we explore these discrepancies, giving useful insights for anybody looking for a complete picture of the cost of living in these two distinct locations.

Cost of Living in Ireland vs United States

Experts believe that the cost of living in Ireland is around 10% less than in the United States. This list covers the most vital topics, such as shelter and food. As you read it, take in mind the exchange rate between the US dollar and the euro. For example, $500 in the United States is comparable to a little more than $459 in euros.

1. Housing

  • Average Mortgage Interest Rate in Ireland: 4.25%
  • Average Mortgage Interest Rate in the US: 6.94%

For many individuals, housing is central to cost-of-living comparisons. House prices in Ireland and America have risen over the last several years, exceeding $495,000 in the United States and $351,000 in Ireland. Americans also pay higher interest rates on their mortgages.

If you don’t intend to buy a property, you should look attentively at rent pricing, especially in large cities. Renters in New York City spend an average of $3,661 per apartment, more than $1,000 more than the average rent in Dublin. Residents in each city should expect to spend more if they want to reside in an upper-class neighborhood, where rent might surpass $10,000 per month.

To locate the lowest monthly rent in Ireland or the United States, check beyond the municipal borders. In rural places like Donegal, Irish renters pay between $1,100 and $1,500 per month. Similarly, the national average for renting a two-bedroom apartment in the United States is $1,317, while rural property owners sometimes ask significantly less.

2. Transportation

  • Cost to run a family car in Ireland: €10,691
  • Cost to run a family car in the US: $10,728

Transportation is one area where the United States and Ireland are closely related. On average, Irish citizens pay more than $11,000 per year to purchase and operate a family automobile, while Americans spend just slightly less.

Because public transit is unavailable in many rural and small communities in the United States, owning a car is essential. Similarly, while the TFI Public Transport Network in Ireland connects smaller cities, villages, and towns, 91% of rural residents possess a car.

In larger cities, the majority of both nations’ people use public transit to move from one point to another. The largest cities in each nation, Dublin and New York City, have rather advanced public transit networks that include buses, subways, and taxis. The costs in each city are relatively comparable. A monthly pass in Dublin costs up to $150, compared to $132 for a 30-day MetroCard in New York.

3. Healthcare

  • Public health coverage in Ireland: 100% of the population, 37% fully free
  • Public health coverage in the US: None
  • Average cost of private insurance in Ireland: €160 per month
  • Average cost of private insurance in the US: $450 per month

In the United States, health care and insurance are divisive issues, owing to the lack of universal coverage. Families and individuals can buy insurance through the government marketplace or private organizations, but the costs are high.

A single person in the United States might easily spend $500 or more per month on insurance premiums. This cost may vary depending on your health, age, and lifestyle, and some people qualify for Medicare or Medicaid. Many people in the United States can only afford health insurance because their employers pay the premiums, which can significantly reduce the cost.

Health insurance looks quite different in Ireland, where all people get government-funded public health care for free or at a low cost. In addition to their medical card, many Irish individuals buy private insurance, which can lower their medical costs and enable them to pay for extra advantages like a private room in the hospital. Private insurance in Ireland costs an average of $175 a month.

In addition to the major discrepancies in insurance, it is vital to notice the inequalities in health-care costs between Ireland and the United States. An average doctor’s visit in Ireland costs about $65, but an appointment with a general practitioner in the United States costs between $300 and $600.

4. Entertainment

Average cost of a cinema ticket in Ireland: €8.00
Average cost of a cinema ticket in the US: $11.75
Average cost of a concert ticket in Ireland: €60 to €100
Average cost of a concert ticket in the US: $252

In addition to eating out, you may want to go out and have some fun. A trip to the movies is significantly cheaper in Ireland than in the United States, whereas tickets to a live theater play are relatively similar. Concert tickets in the United States are famously pricey, with the average cost more than twice what you’d pay in Ireland.

However, the expense of entertainment is determined by your lifestyle choices. Whether you’re in Ireland or the United States, tickets to a performance starring a well-known performer are significantly more expensive than those to a small music festival.

5. Groceries and Dining Out

  • Average weekly grocery bill in Ireland: €105.85
  • Average weekly grocery bill in the US: $270.21
  • Spending at restaurants in Ireland: €15 to €50 per person
  • Spending at restaurants in the US: $11 to $40 per person

Whether you’re Irish or American, groceries are undoubtedly a significant portion of your budget. Although the average weekly grocery spend in the United States is greater than in Ireland, the final cost is determined by the items purchased. For example, a thrifty person in Ireland may receive a lot of food at a lesser cost by shopping for local items like cattle.

The two nations are closely comparable in terms of the most costly supermarket goods. In the United States, consumers spend more on chocolate, meat, eggs, and some vegetables, such as oranges and peaches. The Irish pay equivalent costs for such things and must contend with the increased cost of food imported from other European nations or the United States.

If you prefer to have someone else make your lunch, you may expect to pay the same price in any nation. Both Ireland and the United States offer informal restaurants where you may have a delicious burger, sandwich, or fish and chips for $15 or less. They also have more upmarket restaurants that offer high costs for exquisite cuisine, which might cost $100 or more per person.

6. Wages and Salaries

  • Average annual salary in Ireland: €44,202
  • Average annual salary in the US: $59,428
  • National minimum wage in Ireland: €12.70 per hour
  • National minimum wage in the US: $7.25 per hour

The average pay is one of the most visible differences between Ireland and the United States. The average annual wage in Ireland is roughly $48,017, whilst Americans earn slightly less than $60,000. The difference of approximately $1,000 per month may create the idea that the United States is a better place to begin your career.

However, the news is not all positive for American workers. Salaried employees may be paid more than their Irish colleagues, but the minimum wage is significantly lower. The Irish government compels firms to pay unsalaried workers at least $13.80 per hour, which is significantly more than the minimum $7.25 in the United States. While individual states in the United States can require a higher minimum wage, 20 have chosen to adhere to the federal amount.

Final Words

Finally, comparing Ireland’s cost of living to the US’s shows a complex economy. This research illuminates key factors affecting everyday spending, providing significant insights for anyone considering relocation or interested in international economic dynamics. These differences in housing, healthcare, transportation, and entertainment reveal the financial dynamics of these two locations. Come learn about the economic issues that affect the cost of living in Ireland and the US on this fascinating excursion.

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