To compile the list of the cheapest countries to live in Europe, this online begins by listing affordable European countries sourced from Numbeo. The countries were then assessed on their cost of living index, crime index, rent index, and local purchasing power index from Numbeo to assess their viability as safe and affordable destinations for living.
Next, we summed up the scores of each factor analyzed and ranked them in ascending order from the lowest to the highest scores.
Below 👇 are the cheapest countries to live in Europe:
Insider Monkey Score: 6
Rich cultural heritage, vibrant traditions, and a high quality of life attracts individuals to Spain. Residents love the country for the beach lifestyle it offers, the diverse expat community it is home to, and the delectable Spanish cuisine. Popular cities like Barcelona, Madrid, and Seville offer the right mix of modern amenities and centuries-old architecture.
19. Czech Republic
Insider Monkey Score: 9
The Czech Republic is another one of the cheapest countries to live in Europe, offering the best amalgamation of historical charm, modern amenities, and well-preserved architecture. The country is also highly famous for its beer culture, having one of the highest consumption rates per capita. A single individual can expect to live on $1,545, making life affordable yet high-quality.
Insider Monkey Score: 11
Whether you wish to enjoy picturesque lakes, lush green countryside, or the beauty of the Julian Alps, Slovenia has it all. Not only does the country enjoy beautiful natural landscapes, but it also offers an affordable cost of living. Slovenian cuisine is quite famous among residents, with jota (bean and sauerkraut soup) and štruklji (dumplings) being famous traditional dishes. The country promises its residents a high quality of life, along with modern amenities, social benefits, and a rich culture.
Insider Monkey Score: 14
Several features make Lithuania an appealing destination for individuals. The country offers a rich cultural heritage, natural beauty, and a high quality of life. The average cost of living in the country is around $1,000 for a single individual, making it an affordable place to live in. Beautiful sandy beaches line up the Baltic Sea coast, attracting individuals from around the world.
Insider Monkey Score: 19
Portugal is a hidden gem of affordability, offering a laid-back lifestyle and an affordable cost of living. The country is revered for its warm climate, beautiful beaches, and charming cities. A single individual can easily live on $1,073, making it an attractive destination to enjoy a high quality of life. Those moving to Portugal will find the locals to be very welcoming, the food experience delectable, and the healthcare of high quality.
Insider Monkey Score: 21
Rich cultural heritage, stunning natural beauty, and vast economic opportunities attract individuals to Slovakia. Home to the High Tatras Mountain Range, residents enjoy diverse activities such as skiing, hiking, and mountaineering. Hearty dishes like bryndzové halušky (potato dumplings with sheep cheese), goulash, and others are the essence of Slovak cuisine. The country is overall safe to live in, and offers a lower cost of living than other Western countries. A single individual can live on $1,476 per month.
Insider Monkey Score: 21
Poland is a great place to work and live, offering diverse employment opportunities and well-regarded universities and institutions. Consumer prices in the country are 41.53% more affordable than in the United States, and an individual can live easily on $1,379. The country has a great food and drink culture, is home to friendly and hospitable people, and boasts beautiful architecture too. From the sandy beaches of the Baltic Sea to the stunning Tatra Mountains in the south, residents enjoy the country’s scenic natural beauty.
Insider Monkey Score: 21
Latvia is an appealing destination for individuals seeking a high quality of life and affordable living costs. Strategically located in the Baltic region, the country provides significant economic opportunities and access to Eastern and Western markets. Pristine beaches along the Baltic coast, well-preserved Art Nouveau architecture, and the famous Midsummer Festival (Jāņi) are the highlights of living here. A single individual can expect to live on $1,000 per month.
Insider Monkey Score: 22
One of the cheapest countries to live in Europe is Croatia. Picturesque beaches, charming coastal towns, and a pleasant Mediterranean climate makes the country an appealing destination for individuals. The country’s diverse landscapes, nature reserves, national parks, and mountains allow residents to indulge in water sports, hiking, and other activities. A single individual can live in Croatia for $1,100.
Insider Monkey Score: 28
Beautiful cities, rich culture, and an affordable cost of living draws people to Hungary from all over the world. An individual can live on $1,345 in the country, allowing them to enjoy an affordable lifestyle. International students are attracted to its well-established universities, while its strategic location in central Europe makes it a lucrative business destination too. Moreover, the country enjoys picturesque landscapes like the Danube River, Lake Balaton, and the Hungarian countryside.
Insider Monkey Score: 33
This small country on the Adriatic Sea attracts people for all the right reasons. Stunning beaches, such as Mogren Beach and Jaz Beach, picturesque coastal towns of Kotor and Budva, and spectacular national parks, such as the Durmitor National Park, span across the country. The country actively promotes foreign investment, boasts a cost of living lower than Croatia, and enjoys easy access to other European countries.
Insider Monkey Score: 34
Bulgaria is one of the cheapest countries to live in Europe, offering a relaxed pace of living, a rich cultural heritage, and stunning natural beauty. The country offers various economic opportunities for individuals, as well as educational opportunities at affordable costs. Bulgarian cuisine is delectable in itself, and the famous Rose Valley forms an important part of the country, producing a significant portion of the world’s rose oil.
Insider Monkey Score: 37
Romania boasts one of the lowest costs of living in Europe. Not only is the country an active ground for employment opportunities, but it also has some of the best universities and educational institutions that attract students from other parts of the world. An individual can expect to live comfortably at $1,323 while enjoying affordable housing, transportation, and other low-cost goods. The beautiful country in the Balkans boasts some serious natural beauty, friendly people, and a good quality of life.
Insider Monkey Score: 42
Serbia enjoys a low cost of living when compared to other European countries. The country offers a high quality of life and a nice blend of modern amenities and laid-back lifestyle. The atmosphere is very welcoming and friendly, with good educational opportunities available at affordable costs. Belgrade, the capital of Serbia, is especially popular for its historical landmarks and nightlife.
Insider Monkey Score: 48
Another affordable European country worthy of note is Albania. Residents are attracted to the country for its distinctive Albanian cuisine, warm hospitality, and growing expat community. Beautiful beaches and cultural attractions add to its appeal and potential for tourism and investments. Basic necessities such as food, accommodation, and utilities only cost around $400-$500.
5. Bosnia and Herzegovina
Bosnia and Herzegovina is a highly sought-after destination, known for offering an exceptional and affordable lifestyle in the heart of the Balkan region. Residents get to witness the well-preserved Ottoman architecture in some parts of the country, enjoy access to numerous economic opportunities, and relish the mesmerizing natural beauty it offers. A single individual can live here for $990, according to Expatistan.
Insider Monkey Score: 51
The landlocked country of Moldova is not only affordable to live in, but is also considered to be safe and peaceful. The total cost of living expenditures for a single individual in the country is estimated to be $1,074 only. It also boasts plenty of parks, botanical gardens, and unspoiled countryside; for enjoying the outdoors.
Insider Monkey Score: 54
Reasonable housing costs, affordable living, and low taxes quality Belarus as a popular destination to live in. Food, transportation, and other essential expenses are relatively affordable for both the locals and expatriates. Also called the “Lungs of Europe”, the country is filled with forests, lakes and rivers; adding to the beauty and appeal of the country.
2. North Macedonia
Insider Monkey Score: 54
North Macedonia is one of the cheapest countries to live in Europe. Vast economic opportunities, cultural attractions, and political stability attract expats to this country. The country is also revered for its scenic landscapes, traditional festivals, and historical sites. It also offers a universal healthcare system, granting access to basic health services to citizens and legal residents.
Insider Monkey Score: 56
Another cheapest country to live in Europe is Turkey. Owing to its reasonable living costs, picturesque landscapes, and modern amenities, it is quickly becoming a top destination for foreigners. From stunning beaches along the Mediterranean and Aegean coasts to lush forests and snow-capped mountains, living in the country is no less than a beautiful dream. The country also enjoys a good healthcare system, delicious cuisine, and various economic opportunities.