A Smart Alternative to Europe’s Most Expensive University Cities
When students think of Monaco, they often imagine luxury yachts, Formula 1, and an exclusive lifestyle—leading many to assume that living costs must be extremely high. But the reality is different. Thanks to its location and excellent connections with nearby French and Italian towns, studying at the International University of Monaco (IUM) is often more affordable than studying in major European university hubs such as London, Paris, Milan, Geneva, Munich, Amsterdam, or Barcelona.
Living just outside the Principality allows students to enjoy Monaco’s quality of life and opportunities at student-friendly costs, all within a safe, international environment.
Where IUM Students Live: Affordable Options Just Minutes Away
Most IUM students choose to live outside Monaco, where housing is significantly more accessible. The most popular nearby towns include:
BEAUSOLEIL – THE CLOSEST FRENCH NEIGHBOURHOOD TO MONACO
Perched directly above Monaco, Beausoleil feels like an extension of the Principality itself. With its Belle Époque buildings, lively markets, and unbeatable proximity often just a few minutes’ walk from Monte-Carlo, it’s one of the most popular areas for students and young professionals.
CAP-D’AIL – SEA VIEWS, CALM LIVING, AND FAST ACCESS TO MONACO
Elegant and peaceful, Cap-d’Ail is known for its stunning coastline, turquoise waters, and scenic walking paths just steps from Monaco. The area offers a relaxed Mediterranean lifestyle, beautiful beaches, and quick transport links into the Principality.
ROQUEBRUNE-CAP-MARTIN – BEACHFRONT LIVING NEAR MONACO
Stretching along the coast between Monaco and Menton, Roquebrune-Cap-Martin blends seaside relaxation with easy access to city life. Known for its beautiful beaches, coastal walking trails, and vibrant neighbourhoods, it’s one of the Riviera’s most desirable residential areas.
MENTON – THE “PEARL OF THE RIVIERA”
Famous for its pastel-coloured buildings, lemon gardens, and warm microclimate, Menton offers a uniquely gentle pace of life on the French Riviera. With charming cafés, sandy beaches, and a welcoming community, it’s a great option for students seeking a beautiful coastal setting at more accessible rental prices.
VENTIMIGLIA (ITALY) – AFFORDABLE LIVING WITH ITALIAN CHARM
Just across the border, Ventimiglia offers an authentic Italian lifestyle within easy reach of Monaco. Students love its affordability, lively weekly markets, excellent food, and relaxed atmosphere. With direct train connections to Monaco, it’s a budget-friendly and culturally rich option for anyone studying nearby while enjoying the vibrancy of Italian coastal life.
These areas are:
- Just minutes from Monaco
- Safe and international
- Significantly more affordable
This allows students to enjoy Monaco’s exceptional lifestyle and career opportunities at manageable student-friendly costs.
Near Towns: Estimated Living Costs & Travel to IUM
Here’s a breakdown of average monthly housing (or cost of living proxy) + commuting distance/time for common student-residence options around Monaco.
| TOWN | APPROX. MONTHLY RENT / LIVING COST | AVERAGE MONTHLY RENT FOR A ROOM IN A SHARED APARTMENT | COMMUTE TO MONACO / IUM (BUS / TRAIN) | Links |
|---|---|---|---|---|
| Beausoleil (France) | ~€900-€2,380/month for apartments. | €750 – 850 | Walking possible (it’s directly above Monaco). Or a short bus ride. | https://www.location-etudiant.fr/colocation/chambre-dans-une-colocation-de-9m2-beausoleil-06240/1717.php |
| Cap-d’Ail (France) | Not a precise number in public sources, but significantly lower than Monaco’s rents, according to housing guides. | ~€550 – 650 (very few fixed monthly colocation ads; many are nightly or short-term) | Very close: 1 train stop to Monaco. | https://fr-fr.roomlala.com/chambre-colocation/cap-d-ail-94906 |
| Roquebrune-Cap-Martin (France) | ~€700+ / month for rentals. | €500 – 950 | Very short commute – just minutes by train. | https://www.locservice.fr/alpes-maritimes-06/colocation-chambre-roquebrune-cap-martin/1982776 |
| Menton (France) | ~€600+ / | ~€600 | 15-minute train ride to Monaco. | https://www.locservice.fr/alpes-maritimes-06/colocation-chambre-menton/1988071 |
| Ventimiglia (Italy) | Cost of living is generally lower in Italy than in France / Monaco; monthly rentals can be significantly cheaper | ~€300 | Train to Monaco: ~ 30 minutes | – |
Cost of Living Comparison: Monaco vs. Europe’s Top University Cities
(Average student monthly costs: rent + transport + food + basic expenses)
| City | Estimated Monthly Cost (€) | Average monthly rent for a room in a shared apartment | Notes | Links |
|---|---|---|---|---|
| London | €1,800 – €2,400 | ≈ €1,140 | Very high rent & transport | https://www.timeout.com/london/news/how-much-you-need-to-earn-to-rent-a-room-in-london-in-2025-101525 |
| Geneva/ Zurich | €2,200 – €2,800 | ≈ €1,050 | One of Europe’s most expensive | https://www.ecla.com/en/blog/cout-de-la-vie-suisse |
| Amsterdam (Netherlands) | Approx. €3,285.60 | ≈ €900 | Amsterdam tops the list when combining center-rent + living costs. | https://dutchreview.com/expat/financial/cost-of-living-amsterdam |
| Munich | €1,300 – €1,900 | ≈ €868 / month | Scarce affordable housing | https://www.spotahome.com/s/munich/for-rent%3Arooms |
| Paris | €1,500 – €2,000 | ≈ €850 | High demand, costly central areas | https://www.ecla.com/en/blog/paris-cost-of-living |
| Barcelona | €1,200 – €1,600 | ≈ €620 | Prices increasing sharply | https://www.huffingtonpost.es/politica/alquilar-habitacion-barcelona-cuesta-434-euros-mas-ciudad-real.html |
| Madrid | €1,100 – €1,600 | ≈ €580 | Moderate but rising | https://coliving.com/blog/shared-housing-costs-in-european-capitals |
| Milan | €1,200 – €1,700 | ≈ €500 | Rising real estate costs | https://www.spotahome.com/s/milan/for-rent%3Arooms |
| Brussels | €2,138.73 | ≈ €500 | Brussels offers significantly lower monthly totals | https://www.spotahome.com/s/brussels/for-rent%3Arooms |
Living near Monaco is often more affordable than many major European cities- including London, Paris, Geneva/ Zurich, and Milan, Amsterdam, Brussels
Why Monaco Makes Sense Financially & Academically
1.Access a Global Business Hub
Monaco is home to over 5,000 international companies, offering unmatched exposure for students pursuing business management, luxury management, sports business, finance, or entrepreneurship.
2. Lower Daily Expenses Than Expected
Many essentials are similar or cheaper than in major capitals:
- Low public transport costs from France or Italy
- Affordable groceries
- Student meal options
3. Safety and Quality of Life
Monaco and its surroundings are among the safest regions in Europe, with a multicultural community and a Mediterranean lifestyle.
4. High-Quality Education
Studying at IUM means joining a business school that is:
• AACSB accredited
• AMBA accredited
• Ranked among the top 2% of business schools worldwide
5. Unique Study–Life Balance
Enjoy a Mediterranean climate, world-class events, beaches, hiking, and sports—accessible every day.
Final Thoughts: Monaco Is a Smart, Affordable Choice
Choosing Monaco means choosing:
– Lower living costs than major European cities
– A globally accredited business school (AACSB & AMBA)
– A safe, international environment
– Unmatched career opportunities in Monaco’s business ecosystem
Studying in Monaco doesn’t have to be expensive, and for many students, it becomes the perfect balance of affordability, academic excellence, and exceptional lifestyle.
