What are the 10 most affordable places to live in Europe? If we really list the most affordable, the list would be filled with places that don’t have the best infrastructure, where it’s rare for people to speak English, or where the nearest hospital may be a long distance away.
This is a list of places in Europe that offer all of the conveniences you need to provide for a good retirement...while also being quite affordable.
After all, retirement is a time for leisure, travel, and relaxation. You’ll want to be somewhere where there are plenty of activities to keep you busy while also providing all of life’s necessities.
Whatever your aspirations are for retirement, Europe has a lot to offer for retirees. Across Europe, there is a wide variety of cultures, each with its history, education, and sites to see. Furthermore, European cities are rich in culinary wonders, art, architecture, and a cafe society. European cities also have some of the world's best healthcare systems making them an excellent place for older populations.
2023 update - Inflation is rearing its head all over the world. We have a refreshed list for 2023. Many places saw increases in all categories...especially utilities. Prague, Czech Republic and Bratislava, Slovakia were knocked off the list for skyrocketing housing and utility costs.
This means we have two new cities that are now in the #1 and #3 spots!
Affordability - Is Living in Europe Within Your Budget?
Many people think that it isn't affordable to live in Europe. There's a common misconception that European cities, rich in culture with beautiful landscapes and diverse histories, have an extremely high cost of living.
Living in Europe can be affordable, with average living costs ranking significantly lower than in the United States. Furthermore, most European cities have free or very low-cost healthcare systems which makes living in Europe even more appealing for your wallet.
Are you considering living in Europe but don't know which is the best spot for you? Learning more about the 10 most affordable places to live in Europe in 2021 might help you choose the right location for your retirement. Use this list as a jumping off point to exploring more about some of the cities you may not have considered!
And without further delay, here's our list of the 10 Most Affordable Places to Live in Europe:
#10 - Porto, Portugal
Porto, Portugal
Porto is a beautiful destination for retirees and expats. It's located on the northern coast of Portugal. Porto consistently ranks high on healthcare, safety, low housing costs and also for the tolerance of its residents.
And if you love the water, Porto has over 110 beaches and this coastal city. You can spend your days enjoying the sun. But be forewarned that the beaches around Porto have a water temperature of about 64 °F (18 °C) in July and September, and 66 °F (19 °C) in August. Yikes!
It is also famous for its agricultural bridges, cobbled streets, and numerous street cafes. Certain areas of the city showcase the city's historical baroque detailing, from decorated interiors to gilded carvings on the exteriors.
And Port wine drinkers rejoice! The site produces a great deal of port wine, making the Douro Valley region a popular gastronomic destination. Wine tasting and food tours are ubiquitous throughout the city, even for long-term residents.
Some other popular attractions include the Museu Nacional Soares dos Reis, art museum; the Boa Nova tea house; São Bento Train Station; and Igreja de São Francisco, a church.
Porto is a viable option for expats and retirees alike, with numerous things to offer, all at an affordable cost of living. If you want to know more, check out our blog about Retiring in Porto.
Porto Cost of Living Chart
category | COST |
|---|---|
1 Bdr Apartment in City Rental | $900 per month |
1 Bdr Apartment Outside City Rental | $695 per month |
Average Utilities: 1 Bdr Apt | $127 per month |
Inexpensive Meal for One | $10 |
3-Course Meal for Two, Mid-Range | $43 |
#9 - Brno, Czech Republic
Brno, Czech Republic
Brno is often in the shadow of Prague. Prague gets all of the attention but Brno should be considered if you're looking to retire in Europe on a budget.
Brno is considered the tech hub of the region so there's an exciting vibe in the city. And it's also not without its own charm. And when you're there, please keep in mind that the Czech Republic is considered to be in Central Europe, not Eastern.
Brno is rated as a very safe living environment with low costs of living. Some of its highest ratings are social tolerance, healthcare, safety, cost of living, and housing.
With a population of around 403,700 and a median age of 42, Brno is a slowly expanding haven of cultural and demographic diversity. With a few famous beaches and some more hilly areas, Brno also offers chances for outdoor activities.
It also is home to Brno Lake, one of the most extensive recreational areas of the city; endless fields of blossoming flowers frame this area. Hiking, biking, canoeing, and walking are all popular pastimes in the region.
There are also numerous cultural events that retirees might find appealing such as the International fireworks show in May. Other popular attractions include Veveří Castle; Náměstí Svobody, the main square in the city; and The Cathedral Of Saints Peter And Paul. There is something for everyone in this culturally rich destination.
Brno Cost of Living Chart
CATEGORY | COST |
|---|---|
1 Bdr Apartment in City Rental | $730 per month |
1 Bdr Apartment Outside City Rental | $595 per month |
Average Utilities: 1 Bdr Apt | $276 per month |
Inexpensive Meal for One | $8 |
3-Course Meal for Two, Mid-Range | $37 |
#8 - Valencia, Spain
Valencia, SpainThis rapidly growing port city is located on the southeastern coast of Spain located south of Barcelona. It only takes 2 hours and 40 minutes to get to Barcelona by train. You can leave Valencia at 9am and be eating Tapas in Barcelona by noon!
An even closer destination is Madrid. It takes a little under 2 hours by train to get there. Valencia is a fantastic, inexpensive location you can use as a home base to then explore Spain's other historic cities.
Cost of living, including housing costs, are low and there are lots of things to do right in Valencia. Some main sites include several beaches, parks, and a wetlands reserve that features walking and hiking trails.
Valencia is also working on many future attractions that showcase their science and arts, including a planetarium and an interactive oceanarium.
If you seek a place to retire that is both economically advanced and culturally rich, this is the place for you. While its population density is higher than some of the other cities on our list, it still maintains the charm of older European cities.
One blogger, NextBiteOfLife.Com, described finding Valencia as the perfect place to live in these words: "I have felt like Goldilocks looking for the city that felt just right. For now, Valencia is that place.”
Valencia Cost of Living Chart
category | COST |
|---|---|
1 Bdr Apartment in City Rental | $854 per month |
1 Bdr Apartment Outside City Rental | $615 per month |
Average Utilities: 1 Bdr Apt | $140 per month |
Inexpensive Meal for One | $13 |
3-Course Meal for Two, Mid-Range | $48 |
#7 - Gdansk, Poland
Gdansk, Poland Old Town
Poland has many positives to consider, including a low cost of living, a relaxed style of living and a gorgeous backdrop of historical cities, towns, and natural landscape.
While climates in Poland tend to be colder due to its northern location, the mountainous south and beautiful coastline along the Baltic Sea make up for the cooler temperatures. This is a plus for a lot of people.
Poland is also listed as one of the safest countries in Europe. According to the U.S. Department of State Travel advisory, Poland ranks a level 1 with crime, the lowest possible score. Daily living costs in Gdansk are an average 56% lower than living costs in San Francisco.
With a population of around 537,500, Gdansk maintains a diverse sense of community and culture without becoming overcrowded. Located right on the Baltic coast, Gdansk is also the center of the country's fourth-largest metropolitan area, a seaport town. History buffs will love Gdansk for its rich history.
Gdansk Cost of Living Chart
category | COST |
|---|---|
1 Bdr Apartment in City Rental | $655 per month |
1 Bdr Apartment Outside City Rental | $550 per month |
Average Utilities: 1 Bdr Apt | $225 per month |
Inexpensive Meal for One | $8 |
3-Course Meal for Two, Mid-Range | $34 |
#6 - Zagreb, Croatia
Zagreb at Dusk
Zagreb is actually the capital of Croatia and happens to be its largest city. With a higher population, there is a lot of diversity in the city; 19% of the population is currently categorized as elderly. It is growing more popular with older populations by the day.
Zagreb is also a city of contradictions. Zagreb has a proper old town section that showcases beautiful, medieval architecture. But then go to the city center and you'll experience a complete 360.
You'll see Art-Nouveau style buildings, wide boulevards on which to stroll, serene gardens and plenty of trams to help you get around. No matter your preference, old or new...Zagreb has it.
Its climate can be extreme from season to season with hot summers and cold, dry winters. But the people in Zagreb are said to be warm and friendly...showcasing the Mediterranean way of life.
According to one expat Olivia, living in Zagreb is lovely for its cafe culture and location. She shares that "People go to cafes to socialize and can spend hours sipping a single cup of coffee with a couple of good friends. Another thing I love about Zagreb is its proximity to the Adriatic Coast! We find ourselves going as often as possible."
Popular attractions include Tkalčićeva Street, an outdoor cafe and restaurant-filled area. The Lower Town region boasts numerous shops, museums, parks and places to eat as well.
Zagreb Cost of Living Chart
category | COST |
|---|---|
1 Bdr Apartment in City Rental | $604 per month |
1 Bdr Apartment Outside City Rental | $472 per month |
Average Utilities: 1 Bdr Apt | $208 per month |
Inexpensive Meal for One | $11 |
3-Course Meal for Two, Mid-Range | $50 |
#5 - Palermo Italy
Palermo at NightPalermo is the capital of Sicily, an Italian island right off mainland Italy. One of the biggest benefits of Palermo is its location which gives individuals the chance to live right near pristine Italian waters.
It is widely known for its historical and religious culture. Some popular sites include the royal tombs and a 12th century Palermo Cathedral. Opera is also popular in the region with its neoclassical Teatro Massimo opera house.
You should also note that Byzantine mosaics and the royal palace, Palazzo dei Normanni, are located within the city creating an adorned backdrop for retirees.
Since it is a port city, seafood is a famous cuisine along with numerous beachside cafes. If you are looking for an affordable and dynamic place to live in a comfortable climate, Palermo might be perfect.
The best part is you're very close to all of the fabulous Italian cities on the mainland of Italy. Flights are inexpensive. You can be in Rome in 1 hour via Ryan air for fares around $50. You can also get to the mainland via train, ferry, car or bus.
Palermo Cost of Living Chart
category | COST |
|---|---|
1 Bdr Apartment in City Rental | $575 per month |
1 Bdr Apartment Outside City Rental | $375 per month |
Average Utilities: 1 Bdr Apt | $205 per month |
Inexpensive Meal for One | $11 |
3-Course Meal for Two, Mid-Range | $54 |
#4 - Aveiro, Portugal
Aveiro, Portugal
Conveniently located near Porto, Portugal, Aveiro makes it easy to travel to more sites affordably. Aveiro is often called the Venice of Portugal because it has beautiful canals, unique architecture and gondolas!
The city center has become more pedestrian so it's a great place to be. You can enjoy traffic-free strolls through the city center streets.
According to the Global Peace Index, Portugal has been rated the third safest country globally for the year 2020. The area also boasts an array of shopping centers which give retirees the chance to acclimate quickly to shopping in Aveiro.
The city is also famous for colorful, vibrant and classical Portuguese architecture. For instance, the traditional Portuguese pavement cascades, which feature marine motifs in black and white tiling, are a major attraction. Aveiro is packed with adventure and comfort, all at a relatively low cost of living, filled with cafes, restaurants, museums, and historical sites.
According to the Vagabond Buddha blog, "If you are on a hunt for the best place to retire in Portugal, you should consider Aveiro if you love small oceanside towns. It is a gorgeous well-manicured oceanside community with an interesting cultural heritage."
Aveiro Cost of Living Chart
category | COST |
|---|---|
1 Bdr Apartment in City Rental | $620 per month |
1 Bdr Apartment Outside City Rental | $530 per month |
Average Utilities: 1 Bdr Apt | $115 per month |
Inexpensive Meal for One | $9 |
3-Course Meal for Two, Mid-Range | $35 |
#3 - Vigo, Spain
Beautiful shot of Vigo's city and hills
Vigo is a 2000 year old city in the Province of Galicia (pronounced Galithia). Vigo is on the northwest coast of Spain so the climate here is not as hot and arid as other parts. In the hottest of months, the average high is 80F/26.6C.
One of the most popular things to do in Vigo is to visit the old town, known as Casco Vello. The area is full of narrow, winding streets lined with old stone buildings, and it features several historic landmarks, including the Collegiate Church of Santa Maria and the Museum of Contemporary Art.
Vigo is a great place for those interested in outdoor activities. There are several parks and nature reserves available to enjoy.
Vigo Cost of Living Chart
category | COST |
|---|---|
1 Bdr Apartment in City Rental | $620 per month |
1 Bdr Apartment Outside City Rental | $535 per month |
Average Utilities: 1 Bdr Apt | $115 per month |
Inexpensive Meal for One | $11 |
3-Course Meal for Two, Mid-Range | $35 |
#2 - Budapest, Hungary
Budapest, HungaryBudapest is the capital of Hungary, placing individuals in the center of political, cultural, and social progress. The city is divided by the Danube River. Buda being on the west side and Pest on the east. Each side has its distinct flavor.
If you're considering this city, you'll have to decide which side is for you. The Buda side is quieter and has great views as it's also hillier. If you're into nightlife, then the Pest side is for you!
Budapest also hosts a wide range of culinary opportunities for all your gastronomic preferences; you will never run out of new places to test out.
Hannah, who currently lives in Budapest, shares her insights on The Curious Sparrow travel blog. Hannah said, "Budapest has a terrific restaurant and bar scene, particularly on the international front...I [also] can't tell you how great the public transport is. It's clean, reliable, speedy."
Budapest is a promising destination for expats and retirees with beautiful craftsmanship and architecture, diverse cultural interests, growing population, prime location, and numerous sites to visit.
Budapest Cost of Living Chart
category | COST |
|---|---|
1 Bdr Apartment in City Rental | $529 per month |
1 Bdr Apartment Outside City Rental | $400 per month |
Average Utilities: 1 Bdr Apt | $155 per month |
Inexpensive Meal for One | $10 |
3-Course Meal for Two, Mid-Range | $44 |
#1 - Split, Croatia
View of Split Old Town near the water and more modern buildings
Retirees often think of Dubrovnik if Croatia is an option for retiring. But, there is another amazing option that made it to the number one spot for 2023! Let us introduce you to Split, Croatia!
Split is the second largest city in Croatia and sits right on the Adriatic sea. It has warm summers and mild winters for those looking to escape snowy, cold winter locations.
The city also has a meager crime rate. It is the capital of Slovakia, located along the Danube River and numerous vineyards. With over 22 beaches, Bratislava also has a lot to offer in the form of leisure. Since it is wedged between the Danube River and the Little Carpathian mountains, it also boasts many hiking, walking, biking, and climbing activities.
If you're love exploring historical places, Split's Old Town is amazing. The palace was built in the 4th century as a retirement home for the Roman Emperor, Diocletian. Yes, even emperors wanted to retire there!
A town was built around the palace which leaves a ton of narrow, winding streets to explore. Right outside the town walls lies the more modern part of Split. You'll find parks, daily markets and a rich amount of museums, galleries and theaters.
Split Cost of Living Chart
category | COST |
|---|---|
1 Bdr Apartment in City Rental | $500 per month |
1 Bdr Apartment Outside City Rental | $375 per month |
Average Utilities: 1 Bdr Apt | $118 per month |
Inexpensive Meal for One | $9 |
3-Course Meal for Two, Mid-Range | $46 |
Final Thoughts On The Most Affordable Places to Live in Europe in 2021
Retiring or living abroad in Europe is an excellent opportunity to experience and learn about a new culture. It is also a great way to live in your dream location with beautiful views and charming architecture embedded in history.
Not to mention that the average cost of living in European cities is much more affordable than in the United States.
Therefore, it is worth considering many of the cities above to see which might be the perfect fit for you. Your new home could be just a plane ride away!