The cost of living is quite high in the US. While you may be struggling to pay for your groceries and have to use the points on your amex everyday card to pay for them in the US, in some parts of Europe, you’d have none of these issues! That’s just how it is with the global economy where some places let you get further with less money. This is why there is a high demand for houses that are reasonably priced, both for sale and for rent. If you’re renting, make sure you get renters insurance. This has lead to a rise in popularity of manufactured homes like the ones at Augusta Woods which are cheaper than most new builds. Because of this demand, we thought we would make this list that ranks the ten European cities with the lowest cost of living from 10 right through to the number one cheapest city in Europe. Anyone looking for stag do places and ideas may want to give this list a good look. Our ranking is based on the Consumer Price Index.
10. Warsaw, Poland
The Polish capital is one of the cheapest in Europe. The prices of groceries and eating out are low, and drinking and smoking are especially cheap, with a bottle of local beer setting you back around a dollar, and a packet of cigarettes just $4.50. An apartment in the city center will cost you $488. It’s a university city, with over 270 000 students. This guarantees a dynamic entertainment scene and nightlife: there are plenty of cultural institutions around to enjoy, as well as festivals, bars and great nightclubs. Unfortunately however, unemployment in Poland is high at 13.3%, meaning that over two million locals are currently out of work.
9. Prague, Czech Republic
Prague, the historical capital of Bohemia, retains much of its artsy charm. With over ten major museums and a variety of theaters, galleries, cinemas, and historical sites any culture lover would thrive in the city. The rent for a one bedroom apartment in the city averages $617 a month but living further out of the city cost a more manageable $440 a month. Every day life in the city is cheap: public transport prices are manageable, the cost of groceries is low, and a meal at a basic restaurant will set you back just $5. With a mid-range bottle of wine and a packet of cigarettes going for under $5 and local beer costing just 75c, Prague is also the perfect place to have a good time.
8. Sarajevo, Bosnia and Herzegovina
Cheap rents in Sarajevo are a strong incentive to relocate, with rent for a single bedroom in the city averaging just $320 a month. Outside of the city centre, this drops even further, to $185 a month. Sarajevo is nestled in the greater Sarajevo valley of Bosnia and is surrounded by the scenic Dinaric Alps. It is Bosnia and Herzegovina’s economic, political, social and cultural center. The city has a booming tourist industry and service sector, having become a popular travel destination in Eastern Europe. Groceries and restaurants are budget-friendly and transport costs next to nothing ($35 for a monthly pass) while alcohol is typically cheap, too. However, a 15% unemployment rate is one of the city’s concerns.
7. Bucharest, Romania
Bucharest is currently experiencing an economic and cultural boom, but the price of living in the capital remains low. Bucharest has been the capital of Romania since 1862 and is the country’s media, culture and arts centre. It is the 6th largest city in Europe according to population size after Paris, London, Berlin, Madrid and Rome. Much cheaper than any of these other large cities though, rents in Bucharest’s city centre average $440 a month. Utilities and groceries are reasonable, and eating out is cheap ($6 for a meal in a basic restaurant), and a public transport pass for a month costs a tiny $15. The unemployment rate in Romania is low at 7.3% and average monthly disposable salaries (after tax) average over $400.
6. Tirana, Albania
With rents in the city averaging $380 a month, you don’t have to be rich to live at the heart of Tirana. Monthly transport passes cost just $14, groceries are cheap, and a meal in a basic restaurant will set you back just $7. Even a three course meal for two in a mid-range restaurant costs just $30. With a population of 421, 286, Tirana is a relatively small European capital. It retains an enjoyable proximity to nature, largely surrounded by hills, with the Dajti Mountain to the east of the city, and a slight valley opening on the north-west that overlooks the Adriatic Sea. This proximity to nature is important to the inhabitants of Tirana: 4 artificial lakes can be enjoyed throughout the city.
5. Minsk, Belarus
Built around the Svislach River, in the region of the rolling Minsk hills, the Belarussian capital is home to over 2 million people. Newly independent since the fall of Communism, Belarus has come a long way since 1990, with Minsk at its head. Living in the city today is cheap: rent averages $380 for a one bedroom apartment in the city centre, utilities are reasonable, public transport costs just $13.50 a month and a packet of cigarettes costs a mere $2.71. Rich in theatres, museums, cinemas and libraries, there tends to be a lot going on in Minsk. However, be sure to layer up, because temperatures can get low: 18°C in the summer, and below freezing in the winter (the average temperature for January is -4.5°C).
4. Sofia, Bulgaria
Renting a place at the heart of Sofia costs a manageable average of $380 a month. The Bulgarian capital, located in the Sofian valley and scenically surrounded by mountains, is home to 1, 241, 369 people. Groceries are cheap, and a transport pass costs just $35 a month. A medium range bottle of wine costs just $5 – which almost seems expensive compared with the price of a bottle of local beer which will set you back under a dollar. Salaries average $603 a month but unemployment is currently high at 13%. Whilst winters tend to be cold and snowy, summers are sunny and warm.
3. Kiev, Ukraine
Considering Ukraine’s current state of unrest, Kiev is easily the least desirable place to go in Europe at the moment. Unsurprisingly, it’s currently the third cheapest European city to live in. Renting a flat in the city costs $570 a month in the centre, or $330 if you choose to live further out. Since the collapse of the Soviet Union and Ukrainian independence in 1991, the country has transformed to democratic government and a market economy with Kiev at its heart. It is a key educational, industrial, scientific and cultural hub of Eastern Europe, home to a wide range of high-tech industries, universities and world-famous historical landmarks. Groceries, utilities and eating out are cheap making the city a comfortable place to live and work. Salaries may seem low, averaging $478 a month (after tax), but purchasing power is high.
2. Skopje, Macedonia
Going out for a basic meal in Skopje costs $4, 50 and renting a one-bedroom apartment in the city centre averages$325 a month. Rooms even go for $225 a month outside of the centre. It is Macedonia’s political, cultural, economic, and academic centre. The ancient city is surrounded by scenic mountains and hills perfect for weekend getaways. It has been inhabited since at least 4000 BC, and remains of Neolithic settlements have been found within some of its oldest buildings. There is a dynamic nightlife in Skopje, with a variety of bars and clubs scattered around the city. However, the city’s biggest nighttime industry is casino gambling.
1. Chisinau, Moldova
The most affordable European city to live in is Moldova’s capital, Chisinau. While the other cities on this list are certainly cheap in comparison to the average NYC costs, Chisinau is on another level of affordability. Renting a single bedroom apartment in the city centre averages just $265 a month, and living further out costs an average of an incredible $165 a month. A monthly transport pass costs just $6 and you can have a three-course meal for two in a mid range restaurant for just $22. The city is home to 800,600 residents and offers 33 universities. Three national museums and a National Opera and Ballet theatre guarantee a variety of cultural events, attracting shows and exhibitions all year round. Fancy a year studying somewhere else? This one’s a good bet, and will cost you a full 81% less than that year abroad in Paris.