A student with a limited budget, including paying the rent, going out once or twice a month, and eating at a cheap restaurant needs at least €400 per month to live basically. The cost of running a family home would be at least €1000 per month in the suburbs and three to six times greater in certain districts in Budapest.
Budapest is the 48th most expensive city in the world, according to: http://www.citymayors.com/economics/expensive_cities2.html.
Universities generally provide information on the possibility of renting student apartments and accommodation.
The price of a flat or shared apartment can vary widely.
For more information, please visit: http://erasmusu.com/en/erasmus-budapest/student-housing
Money and banking
Non residents of Hungary may find it difficult to open a bank account if they do not live in the country. Yet, there are banks that open accounts to non residents as well.
Short-term residents may also find it difficult to open a bank account as some banks require their clients to prove their long-term residence.
For more information, please visit: http://europa.eu/youreurope/citizens/shopping/banking/opening-bank-account/index_en.htm
Travel costs depend on the city in which you are staying in Hungary. Larger cities tend to be slightly more expensive than smaller ones in point of travelling costs.
Foreign students can benefit of a discounts of their transport fees, with a valid student card.
For more information on comparative travel costs, you can visit: http://www.mytravelcost.com/Hungary/compare-price-countries/