Stanford University front entrance. Credit: Linda A. Cicero / Stanford News Service
ESTIMATED LIVING EXPENSES AT THE LEADING U.S. MBA PROGRAMS, 2021-2025
| 2025 P&Q Rank | School | 2025 Living Expenses | 2024 Living Expenses | 2023 Living Expenses | 2022 Living Expenses | 2021 Living Expenses | 2-Year Change | 2-Year % | 5-Year Change | 5-Year % |
| 2 | Stanford GSB | $ 40,971 | $ 39,888 | $ 38,724 | $ 36,198 | $ 34,806 | $ 1,083 | 2.7% | $ 6,165 | 17.7% |
| 4 | Harvard Business School | $ 36,568 | $ 34,000 | $ 32,600 | $ 31,390 | $ 30,270 | $ 2,568 | 7.6% | $ 6,298 | 20.8% |
| 6 | Dartmouth (Tuck) | $ 33,787 | $ 32,603 | $ 31,620 | $ 30,215 | $ 31,215 | $ 1,184 | 3.6% | $ 2,572 | 8.2% |
| 12 | Pennsylvania (Wharton) | $ 32,842 | $ 33,804 | $ 26,028 | $ 22,887 | $ 21,720 | $ (962) | -2.8% | $ 11,122 | 51.2% |
| 7 | Columbia Business School | $ 31,986 | $ 27,396 | $ 24,822 | $ 24,822 | $ 24,822 | $ 4,590 | 16.8% | $ 7,164 | 28.9% |
| 14 | UCLA (Anderson) | $ 31,962 | $ 30,440 | $ 24,850 | $ 25,200 | $ 25,200 | $ 1,522 | 5.0% | $ 6,762 | 26.8% |
| 22 | Southern California (Marshall) | $ 31,456 | $ 29,140 | $ 30,410 | $ 26,980 | $ 24,256 | $ 2,316 | 7.9% | $ 7,200 | 30.0% |
| 11 | New York (Stern) | $ 31,090 | $ 29,344 | $ 28,242 | $ 28,242 | $ 27,420 | $ 1,746 | 6.0% | $ 3,670 | 13.4% |
| 19 | Washington (Foster) | $ 29,668 | $ 29,668 | $ 29,668 | $ 21,248 | $ 21,248 | $ 0 | 0% | $ 8,420 | 4.0% |
| 17 | UC-Berkeley (Haas) | $ 29,008 | $ 28,428 | $ 26,416 | $ 26,416 | $ 26,014 | $ 580 | 2.0% | $ 2,994 | 11.5% |
| 25 | Georgetown (McDonough) | $ 27,826 | $ 26,826 | $ 26,578 | $ 24,822 | $ 22,696 | $ 1,000 | 3.7% | $ 5,130 | 22.6% |
| 23 | Emory (Goizueta) | $ 27,684 | $ 22,186 | $ 22,186 | $ 21,312 | $ 19,278 | $ 5,498 | 24.8% | $ 8,406 | 43.6% |
| 8 | Yale SOM | $ 26,918 | $ 29,227 | $ 28,266 | $ 25,200 | $ 24,284 | $ (2,309) | -7.9% | $ 2,634 | 10.8% |
| 21 | Washington (Olin) | $ 26,720 | $ 28,720 | $ 25,490 | NA | NA | $ (2,000) | -7.0% | NA | NA |
| 3 | Chicago (Booth) | $ 26,010 | $ 26,010 | $ 26,010 | $ 22,185 | $ 22,185 | $ 0 | 0% | $ 3,825 | 17.2% |
| 5 | Virginia (Darden) | $ 25,170 | $ 24,570 | $ 22,870 | $ 19,720 | $ 18,430 | $ 600 | 2.4% | $ 6,740 | 36.6% |
| 15 | Carnegie Mellon (Tepper) | $ 24,890 | $ 23,490 | $ 22,860 | $ 21,400 | $ 20,182 | $ 1,400 | 6.0% | $ 4,708 | 23.3% |
| 10 | Duke (Fuqua) | $ 24,624 | $ 24,048 | $ 23,202 | $ 20,304 | $ 19,256 | $ 576 | 2.4% | $ 5,368 | 27.9% |
| 30 | Vanderbilt (Owen) | $ 23,518 | $ 26,844 | $ 22,682 | $ 19,472 | $ 18,594 | $ (3,326) | -12.4% | $ 4,924 | 26.5% |
| 13 | MIT (Sloan) | NA | $ 23,490 | $ 21,694 | $ 23,877 | $ 21,975 | NA | NA | NA | NA |
| 9 | Cornell (Johnson) | $ 22,450 | $ 19,428 | $ 18,554 | $ 20,016 | $ 17,865 | $ 3,022 | 15.6% | $ 4,585 | 25.7% |
| 19 | Georgia Tech (Scheller) | $ 22,354 | $ 21,318 | $ 19,710 | $ 19,222 | $ 19,126 | $ 1,036 | 4.9% | $ 3,228 | 16.9% |
| 1 | Northwestern (Kellogg) | $ 22,059 | $ 21,150 | $ 19,800 | $ 19,800 | $ 17,100 | $ 909 | 4.3% | $ 4,959 | 29.0% |
| 29 | Michigan (Ross) | $ 21,016 | $ 18,704 | $ 17,780 | $ 17,780 | $ 16,998 | $ 2,312 | 12.4% | $ 4,018 | 23.6% |
| 18 | North Carolina (Kenan-Flagler) | $ 19,804 | $ 20,716 | $ 19,268 | $ 19,268 | $ 18,760 | $ (912) | -4.4% | $ 1,044 | 5.6% |
| 26 | Rice (Jones) | $ 19,800 | $ 26,029 | $ 25,014 | $ 24,537 | $ 24,537 | $ (6,229) | -23.9% | $ (4,737) | -19.3% |
| 16 | Texas-Austin (McCombs) | $ 17,355 | $ 17,300 | $ 17,270 | $ 20,206 | $ 19,478 | $ 55 | 0.3% | $ (2,123) | -10.9% |
| 34 | Indiana (Kelley) | $ 16,836 | $ 16,172 | $ 15,446 | $ 15,456 | $ 14,904 | $ 664 | 4.1% | $ 1,932 | 13.0% |
| 24 | Notre Dame (Mendoza) | $ 16,200 | $ 14,850 | $ 13,050 | $ 10,450 | $ 10,350 | $ 1,350 | 9.1% | $ 5,850 | 56.5% |
Source: Business schools
DON’T MISS LAST YEAR’S COLLECTION OF COST DATA and IS AN MBA WORTH IT? HOW TO CALCULATE THE REAL ROI
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