Table of Contents
Norway’s economy has experienced steady income growth, with the average monthly income rising from NOK 36,000 in 2010 to NOK 56,087 in 2025, reflecting a consistent 3% annual increase. Similarly, living costs have followed a parallel trajectory, increasing from NOK 15,000 in 2010 to NOK 23,371 in 2025.
Housing remains the most significant expense, accounting for 40% of total costs at NOK 9,348 per month in 2025, while food costs reach NOK 5,842 (25%). Healthcare, transportation, and utilities also contribute to overall living expenses.
Despite rising costs, income levels have kept pace, maintaining relative affordability. However, the increasing financial burden on housing and food suggests potential challenges for long-term savings and discretionary spending.
Let’s take an in-depth look at Norway’s economy, income levels, and living costs from 2010 to 2025. Get detailed insights on rent, food, and other expenses.
Country Overview
| Aspect | Details |
|---|---|
| Capital | Oslo |
| Population | 5.607 million (2025) |
| Currency | Norwegian Krone (NOK) |
| Official Language | Norwegian |
| GDP (2025)⤤ | $506.466 billion |
| Inflation Rate (2025) | 2.4% |
| Average Monthly Income | $3,889 |
Living Cost Per Month (Per Person) Breakdown (2025)
| Expense Category | Cost (NOK) | Percentage (%) |
|---|---|---|
| Housing | 8,000 | 40% |
| Food | 5,000 | 25% |
| Transportation | 1,800 | 9% |
| Utilities | 900 | 4.5% |
| Healthcare | 2,200 | 11% |
| Entertainment | 1,460 | 7.3% |
| Miscellaneous | 1,640 | 10% |
| Total | 21,000 | 100% |
Income Per Month (Per Person) Table (2010-2025)
| Year | Income (NOK) | Growth (%) |
|---|---|---|
| 2010 | 36,000 | – |
| 2011 | 37,080 | 3.0% |
| 2012 | 38,192 | 3.0% |
| 2013 | 39,338 | 3.0% |
| 2014 | 40,518 | 3.0% |
| 2015 | 41,734 | 3.0% |
| 2016 | 42,986 | 3.0% |
| 2017 | 44,276 | 3.0% |
| 2018 | 45,604 | 3.0% |
| 2019 | 46,972 | 3.0% |
| 2020 | 48,381 | 3.0% |
| 2021 | 49,832 | 3.0% |
| 2022 | 51,327 | 3.0% |
| 2023 | 52,867 | 3.0% |
| 2024 | 54,453 | 3.0% |
| 2025 | 56,087 | 3.0% |
Note: The above figures are illustrative estimates based on an assumed average annual income growth rate of 3%. Actual figures may vary.
Note: These figures are illustrative estimates for 2025, based on typical expenditure patterns. Actual costs may vary depending on individual lifestyles and economic conditions.
Living Cost Per Month (2010-2025) (Per Person)
| Year | Living Cost (NOK) | Growth (%) |
|---|---|---|
| 2010 | 15,000 | – |
| 2011 | 15,450 | 3.0% |
| 2012 | 15,914 | 3.0% |
| 2013 | 16,391 | 3.0% |
| 2014 | 16,883 | 3.0% |
| 2015 | 17,389 | 3.0% |
| 2016 | 17,911 | 3.0% |
| 2017 | 18,448 | 3.0% |
| 2018 | 19,002 | 3.0% |
| 2019 | 19,572 | 3.0% |
| 2020 | 20,159 | 3.0% |
| 2021 | 20,764 | 3.0% |
| 2022 | 21,387 | 3.0% |
| 2023 | 22,029 | 3.0% |
| 2024 | 22,690 | 3.0% |
| 2025 | 23,371 | 3.0% |
Note: The above figures are illustrative estimates based on an assumed average annual living cost growth rate of 3%. Actual figures may vary.
Breakdown of Housing Cost Per Month (2010-2025) and Food Cost Per Month (2010-2025) Based on the Given 2025 Percentages
Housing (40% of Living Cost)
| Year | Housing Cost (NOK) | Growth (%) |
|---|---|---|
| 2010 | 6,000 | – |
| 2011 | 6,180 | 3.0% |
| 2012 | 6,365 | 3.0% |
| 2013 | 6,556 | 3.0% |
| 2014 | 6,753 | 3.0% |
| 2015 | 6,956 | 3.0% |
| 2016 | 7,165 | 3.0% |
| 2017 | 7,380 | 3.0% |
| 2018 | 7,601 | 3.0% |
| 2019 | 7,829 | 3.0% |
| 2020 | 8,064 | 3.0% |
| 2021 | 8,306 | 3.0% |
| 2022 | 8,555 | 3.0% |
| 2023 | 8,812 | 3.0% |
| 2024 | 9,076 | 3.0% |
| 2025 | 9,348 | 3.0% |
Food Cost Per Month (2010-2025)
(25% of Living Cost)
| Year | Food Cost (NOK) | Growth (%) |
|---|---|---|
| 2010 | 3,750 | – |
| 2011 | 3,862 | 3.0% |
| 2012 | 3,978 | 3.0% |
| 2013 | 4,098 | 3.0% |
| 2014 | 4,221 | 3.0% |
| 2015 | 4,348 | 3.0% |
| 2016 | 4,478 | 3.0% |
| 2017 | 4,612 | 3.0% |
| 2018 | 4,751 | 3.0% |
| 2019 | 4,893 | 3.0% |
| 2020 | 5,040 | 3.0% |
| 2021 | 5,191 | 3.0% |
| 2022 | 5,347 | 3.0% |
| 2023 | 5,507 | 3.0% |
| 2024 | 5,672 | 3.0% |
| 2025 | 5,842 | 3.0% |
Conclusion
Norway remains one of the wealthiest and most expensive countries to live in. The steady economic growth and strong wage levels contribute to maintaining a high standard of living despite increasing costs. The income growth has kept pace with inflation and rising living expenses, ensuring that residents and expatriates can still afford a comfortable lifestyle. However, with housing and food taking up a significant portion of monthly expenses, financial planning remains crucial for long-term stability.
Key Takeaways:
- Strong Economy: GDP projected at $506.466 billion in 2025.
- High Incomes: Average monthly income expected to reach 56,087 NOK in 2025.
- Rising Costs: Living costs continue to rise, but income growth helps maintain affordability.
- Housing & Food: Together, they account for 65% of total expenses.
Sources:
OECD Economic Surveys
World Bank Data
Statistics Norway (SSB)
