The average cost of living in Mongolia is estimated to be (1,326,008.81 T) US $465.17 for a single person; for a family of four, the overall cost of living may be (4,755,611.58 T) US $1668.30. Overall, consumer prices are 52.17% lower than in the United States.
The monthly rent varies depending on the type of apartment and lifestyle you prefer. A monthly 1-bedroom apartment in the city center would cost approximately $ 3,799,156 T (US $1333), whereas an apartment outside the city would cost approximately $ 3,080,315 T (1,083 $). A three-bedroom apartment in the city center costs around 6,176,520 T (2,168 $), while one outside the city costs around 4,995,953 T (US $1,754).
Mongolia has many desirable locations and cities in which to live. The capital city of Ulaanbaatar, as well as Erdenet and Darkhan, are among the most sought-after destinations.
Ulaanbaatar was built during the Soviet communist era and had a population of more than 140,000 people. It was built with a capacity of 6,00,000 people in mind.
Erdenet is Mongolia's second-largest city, with a population of 97,814 people.
Darkhan is Mongolia's third-largest city, with a population of 83,883.