Is Budapest Expensive? What to Expect When Budgeting for Your Trip

Budapest is the kind of place that looks like it could be expensive. Think grand architecture, thermal baths, and a nightlife scene that practically demands a trendy new outfit. But here’s the good news: compared to other major European capitals, Budapest is actually quite budget-friendly. Whether you’re backpacking or treating yourself a bit, here’s what you can expect when budgeting for a trip to the Hungarian capital.

A quick note: these are average prices, but you certainly can spend less (or much more) if you want to.

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Currency in Hungary: Hungarian Forint (HUF)

Despite being part of the European Union, Hungary keeps things interesting by using its own currency, the Hungarian Forint (HUF), instead of the Euro. This means that, no, you can’t pay in Euros at most places (and where you can, it’s likely with an unfavorable rate). So, if you want to avoid overpaying for that chimney cake or goulash, plan on using forints for cash. (Though nearly everywhere takes credit cards, so you won’t need much cash.)

Accommodation Costs in Budapest

One of the biggest perks of visiting Budapest is the range of affordable accommodations:

• Budget travelers: A bed in a clean, social hostel will cost you around $16-25 (€15-23).
• Private options: A cozy Airbnb or budget hotel in the city center runs about $70-105 (€60-96 / 24,000-36,000 HUF) per night, depending on the season.
• Luxury stays: Many river-view hotels and boutique options often cost between $195-255 (€180-240 / 66,000-90,000 HUF) per night, half the price of cities like Paris or London. (On my last trip, my upgraded room at the lovely boutique Hotel Rum with a Michelin starred restaurant, averaged $154 a night.) Super luxe high end hotels like the Four Seasons will likely be higher than this.

Food & Drink Cost in Budapest: Eating Well Without Overspending

Hungarian food is hearty, delicious, and, best of all, still fairly easy on the wallet even with a slight markup in more touristy areas:

• Quick bites: Grab a bowl of goulash or a lángos at a street market for around $4-6 (€4-6 / 1,500-2,400 HUF).
• Sit-down meals: A full meal with a drink and tip will set you back about $13-19 (€12-18 / 4,800-7,200 HUF).
• Fancier spots: Traditional dishes with Danube views may cost $26-38 (€24-36 / 9,000-13,200 HUF) per person.

When it comes to drinks, Budapest’s ruin bars offer great deals. Local beer or Hungarian wine can be as little as $2.50-3.50 (€2.40-3.60 / 850-1,400 HUF), a toast-worthy bargain!

Cost of Getting Around Budapest: Public Transport FTW

Budapest has a safe, clean, and efficient public transport system with trams, buses, and the metro:

• Single ticket: 450 HUF ($1.20 / €1).
• 24-hour pass: 2,500 HUF ($6.50 / €6).

The city center is very walkable, but public transport is a cheap way to explore more distant areas or just rest weary feet. (I have a whole post about how to navigate public transit like a local here.) Taxis are available but much more expensive than public transit and most of the time probably slower.

Budapest Sightseeing & Activities Cost: Affordable Adventures

Budapest is a treasure trove of historic sights and cultural experiences, most of which are quite budget-friendly. Here’s a sample of what you can expect:

• Széchenyi Thermal Bath: Around $25-30 (€23-28 / 9,000-10,500 HUF) for a day pass. Relax in these iconic thermal baths and soak up the history, literally.
• Buda Castle and Fisherman’s Bastion: Free to explore the stunning exteriors and enjoy the sweeping views of the city.
• Free Walking Tours: While the tours are technically free, tipping the guide is customary; plan on about $10-15 (€9-14 / 3,500-5,000 HUF) per person.
• Pre-Booked Guided Tours: For a more in-depth look at specific sites or themes, book a guided tour. These typically cost about $30-40 (€28-37 / 10,000-14,000 HUF) per person.
• Museum Entry: Budapest is home to a variety of fascinating museums, and entry fees are quite reasonable. Most larger museums charge an average of $10 (€9 / 3,500 HUF) per person.
• Danube River Cruise: A scenic cruise on the Danube costs around $20 (€18 / 7,000 HUF). It’s an unforgettable way to experience Budapest’s iconic skyline, especially at sunset.

Do I Need Cash in Budapest?

So, do you actually need cash in Budapest? The short answer is: yes, it’s smart to have a few forints on hand, even if you’re mostly planning to use your card. Most restaurants, cafes, and shops accept cards, but smaller spots—like family-owned bakeries or street markets—may operate on a cash-only basis. It’s also useful to carry a few smaller bills and coins for things like tipping tour guides, buying a pack of gum, or grabbing a coffee without the awkwardness of trying to break a big bill.

Do I Need to Exchange Cash at Home Before I Travel?

No. No need to stress about exchanging cash before you leave home! In Budapest, you can easily manage without Hungarian forints right off the plane. Airport transportation—like shuttles, airport taxis, and public transit tickets—can be booked in advance or paid for by credit card. Once you’re settled in the city, just pop by a bank ATM to withdraw cash at a better rate than you’d get back home. You’ll pay high fees and get poor exchange rates at airport ATMs, so just wait until you’re in town to get cash.

Best ATMs to Use in Budapest

Here’s a pro tip: ALWAYS skip the Euronet ATMs and find a bank! (That advice applies to all countries in Europe, not just Hungary). The Euronet ATMs seem to lurk on every corner, especially around touristy areas, but don’t let their convenience fool you. Euronet ATMs are notorious for outrageous fees (in some cases a percentage of the cash you withdraw instead of a flat fee) and they have terrible exchange rates, which can make that quick cash withdrawal way pricier than you’d expect.

Instead, aim for ATMs at actual banks in Budapest. OTP Bank, K&H Bank, and Erste Bank all have ATMs with better exchange rates and no fees (your home bank may still charge you though). You’ll usually find them attached to bank branches, often just a block away from those high-fee Euronet machines.

Cash Exchanges in Budapest

While cash exchange offices are available throughout Budapest, especially in tourist-heavy areas, the rates aren’t usually as wallet-friendly as they appear. Even if a place advertises “no commission,” the exchange rates can still leave you with less forint than you’d get by simply withdrawing from a bank ATM. If possible, stick to using an ATM at a reputable bank (like OTP, K&H, or Erste) for the most favorable rates and to avoid hidden fees. Cash exchanges are there if you’re in a pinch, but they’re best as a backup rather than a first choice.

Converting Forint to Dollar/Euro

For easy, up-to-date currency conversions, bookmark Google’s currency converter page, which shows current rates so you’ll always know if that item you’re eyeing is a deal or a splurge. For on-the-go conversions, a currency converter app can be a lifesaver, especially for quick checks in the middle of a busy market. These apps usually work offline, too, so you can keep track without relying on Wi-Fi or data.

Tipping in Budapest

The short answer is that yes, tipping is common in Budapest. And tipping is such a common travel concern I have a whole post about tipping in Budapest that you can access here.

So, Is Budapest Expensive?

In a word: no! Budapest is one of the more affordable European cities to visit, especially when it comes to food, drinks, and local experiences. With thoughtful planning, you can live large on a small budget or really treat yourself without spending a fortune. Whether you’re sipping beer at a ruin bar or soaking in a thermal bath, Budapest offers a lot of bang for your buck compared to many other European cities.