t2.micro EC2 instances are part of the "T" instance family that are low-cost, general purpose instance types that provide a baseline level of CPU performance with the ability to burst above the baseline when needed. T2.micro instances are one of the lowest-cost Amazon EC2 instance options and are ideal for a variety of general-purpose applications like micro-services, low-latency interactive applications, small and medium databases, virtual desktops, development, build and stage environments, code repositories, and product prototypes.

Below is where the t2.micro lines up versus its T2 instance family peers:
Instance Family Name GB of Memory vCPU Hourly Price Monthly Price
t2.nano 0.5 GiB 1 $0.0036 ~$4.234
t2.micro 1.0 GiB 1 $0.0072 ~$8.468
t2.small 2.0 GiB 1 $0.0144 ~$16.79
t2.medium 4.0 GiB 2 $0.0287 ~$33.87
t2.large 8.0 GiB 2 $0.0575 ~$67.74
t2.xlarge 16.0 GiB 4 $0.1856 ~$135.49
t2.2xlarge 32.0 GiB 8 $0.3712 ~$270.98
Prices are based off of us-east-1 (North Virginia)
The t2.micro has a clock speed of 3.3 GHz on the Intel Scalable Processor. Note that you can also get better performance with a cheaper price by looking at newer generation "T" instances like "T3" or or "T4g". To learn more about EC2 generational upgrades, check out the entry in the Cloud Cost Handbook.

t2.micro instances, like all EC2 instances, can also be covered by AWS Savings Plans or Reserved Instances which allow you to get significant discounts for committing to certain usage. Depending on the Savings Plan or Reserved Instance you choose, you can save 50%+ of your cost of t2.micro instances.

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