Top 10 Countries for Cost of Living: 7 Affordable, 3 Pricey

Mexico: A Budget-Friendly Paradise

Mexico stands out as one of the most wallet-friendly countries for those seeking an adventure or a new home. With an average monthly cost of living around $1,200, it’s possible to live comfortably in vibrant cities like Mérida and Guadalajara.

Housing costs are especially low, with a one-bedroom apartment in a city center typically renting for just $400. Healthcare is another major perk—high quality, yet surprisingly affordable, making Mexico a magnet for retirees and expats.

The current exchange rate also works in favor of those coming from the U.S., Canada, or Europe, stretching every dollar further. Colorful markets, mouthwatering street food, and rich traditions add to the country’s irresistible charm.

In 2024, Mexico’s unique blend of affordability and quality of life keeps it firmly at the top of many “best places to live” lists.

Portugal: Affordable Living in Europe

Portugal continues to shine as a go-to destination for affordable European living. The average monthly cost of living in Lisbon or Porto is about $1,500, which is a relative bargain compared to other Western European capitals.

Rent remains reasonable, with city-center one-bedroom apartments hovering around $1,000. The country’s mild climate, deep history, and welcoming vibe have sparked a wave of interest from digital nomads and retirees alike.

Portugal’s healthcare system is lauded for its high standards and low costs, routinely ranked among Europe’s best. The affordable yet high-quality lifestyle here is a big draw for those seeking sun, sea, and a slower pace.

In recent years, Portugal’s popularity has soared, making it a beloved choice for anyone craving European adventures without the hefty price tag.

Thailand: The Land of Smiles and Savings

Thailand is famous not just for its stunning beaches and lively culture, but for how far your money goes. Living in cities like Chiang Mai or Bangkok, the average monthly budget is about $1,200, with downtown rents averaging $500 for a one-bedroom apartment.

Street food is an institution here, with savory meals often costing less than $2—a true delight for foodies on a budget. Healthcare is both accessible and surprisingly affordable, with English-speaking doctors a common sight in major cities.

Expats and travelers also rave about the ease of making friends and finding community. As of 2025, Thailand remains a top pick for those wanting a vibrant lifestyle without draining their savings.

The country’s infectious energy and dazzling scenery are simply the cherry on top.

Vietnam: An Emerging Affordable Gem

Vietnam has quietly become a superstar for affordable living, especially in bustling cities like Ho Chi Minh City and Hanoi. The average monthly expense is around $1,000, making it one of the cheapest places to live in Asia.

Rent for a city-center apartment is about $400, and local street food can be enjoyed for less than $1 per meal. Rapid economic growth has led to better infrastructure and more conveniences for expats, without sacrificing that authentic Vietnamese charm.

The country’s warm climate and welcoming locals make settling in easy and enjoyable. Many who arrive for a short stay end up staying much longer, drawn in by Vietnam’s affordability and vibrant culture.

The country’s growing expat community is a testament to its rising popularity.

Colombia: A South American Treasure

Colombia is making waves as a top choice for those looking to stretch their budget in South America. Monthly living costs average around $1,200, with city-center rents in Medellín or Cartagena at about $500.

The country has undergone impressive improvements in safety and infrastructure, making it far more welcoming than many expect. Colombia’s diverse geography means you can pick between beaches, mountains, or bustling cities for your home base.

The local food scene is rich and affordable, and the friendly, outgoing culture makes it easy for newcomers to feel at home. Many expats are drawn by the country’s blend of low cost, vibrant lifestyle, and scenic beauty.

Colombia is no longer just a hidden gem—it’s a rising star for affordable international living.

Bulgaria: Europe’s Best-Kept Secret

Bulgaria remains one of Europe’s most affordable secrets, with a typical monthly cost of living around $1,000. In cities like Sofia and Plovdiv, a one-bedroom city-center apartment costs about $400, leaving plenty of room in the budget for travel and entertainment.

The country is steeped in history, with charming old towns and stunning natural landscapes just waiting to be explored. Healthcare is both high-quality and inexpensive, making it a strong contender for retirees and expats seeking value in Europe.

Bulgaria’s growing expat community is proof of its newfound popularity. Despite being in the heart of Europe, the cost of living remains refreshingly low.

Many who come for the low prices find themselves staying for the warm hospitality and laid-back lifestyle.

India: A Diverse and Inexpensive Option

India offers an incredibly low cost of living, averaging just $600 per month, making it one of the cheapest places on Earth. In cities like Bangalore and Pune, a centrally located one-bedroom apartment rents for about $300, freeing up funds for exploring the country’s vast cultural richness.

The local food scene is vibrant and almost unbelievably affordable, with a hearty meal often costing less than a dollar. India’s healthcare system provides reasonably priced, high-quality care, especially in private hospitals.

The country’s diversity—cultural, geographic, and linguistic—means there’s something here for everyone, from bustling city experiences to tranquil mountain retreats. For many expats, India is as challenging as it is rewarding, offering a lifestyle that’s both affordable and deeply immersive.

As of 2024, it’s an unbeatable choice for both budget travelers and long-term residents.

Switzerland: The Pricey Paradise

Switzerland regularly tops the charts for high cost of living, with average monthly budgets hovering around $5,000. In Zurich and Geneva, renting a one-bedroom apartment in the city center can set you back $2,500 or more.

While the costs are undeniably steep, many believe the benefits justify the price: exceptional public services, pristine landscapes, and a famously robust economy. Switzerland’s healthcare system is often ranked among the world’s best, though it comes with a hefty price tag.

Many expatriates are drawn to the country’s orderliness, safety, and high standard of living. Everything from groceries to transportation costs more here, but the overall quality is hard to match.

For those who can afford it, Switzerland’s blend of natural beauty and luxury is almost unmatched.

Norway: The High Cost of Happiness

Norway consistently ranks as one of the most expensive places to live, with average monthly expenses around $4,500. Oslo and Bergen are notorious for costly housing, with downtown one-bedroom apartments renting at about $1,800.

The high prices extend to groceries, dining, and entertainment, making budgeting a real challenge. However, many residents and expats agree it’s worth every penny: Norway offers breathtaking natural beauty, a strong social welfare system, and a deep commitment to sustainability.

The country’s high wages and excellent infrastructure help balance out the costs for many locals. Norway’s quality of life is regularly ranked among the world’s best, attracting those willing to pay for happiness.

As of 2025, it remains a dream destination for those who value nature and well-being over low costs.

Denmark: A Pricey but Worthwhile Experience

Denmark rounds out the list as a country known for its high cost of living, averaging about $4,000 per month. Copenhagen, in particular, is expensive, with city-center rents reaching $1,900 for a one-bedroom apartment.

Despite these prices, Denmark consistently ranks near the top for quality of life, happiness, and work-life balance. The country’s healthcare system is excellent and accessible, while its social welfare programs support a strong sense of community.

Expats often praise Denmark’s relaxed pace of life and the welcoming attitude of its people. While living here requires a significant investment, many find the rewards—safety, happiness, and cultural richness—well worth the price.

In 2024, Denmark remains a top pick for those who seek comfort and contentment, even if it comes at a premium.

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