The 5 Best Cheapest European Countries to Live In

by Carolyn
0 comment
cheapest european countries to live in

Living in Europe has always been associated with high costs, posh lifestyle and sturdy upkeep. That being said, if your bank account is the only thing stopping you from moving to Europe then put your worries to rest because we have rounded up a list of some of the cheapest countries in Europe to live in. These countries are the most ideal and affordable places to move in permanently. So, let’s get started.

An Overview

Europe as a continent consists of 44 countries, while some of them are expensive, others are surprisingly affordable. However, not all cheap countries have the best living standards.

Various factors help us figure out whether a place is cheap to live in or not and not necessarily are all these factors related to financing. Some of the key factors, in this case, are health care, cost of living, safety and to some extent, entertainment.

Using these factors we have narrowed down to countries that have a balanced yet cost-effective living standard. They are a great option for people who are retiring or working remotely.

Sounds good? Well then let’s jump right in.

#1 Montenegro

If you love to be surrounded by nature then this is your go-to place. Encircled by mountainous terrain and a stunning view of the ocean from all sides, Montenegro is a famous tourist destination. This place gives you the option to travel to other countries all year round. With only spending 2 hours on a flight, you can go to places like Switzerland, Germany, and Italy.

The state uses Eurocurrency although it is not a part of the European Union. An estimated monthly budget per person in Montenegro is 700 Euros. This includes food, rent, health care, and entertainment.

Since the countryside of Montenegro remains untouched, with a good bargain you can end up with a serene place near the seaside. It does not get any better than this!

#2 Bulgaria

This is another call for nature lovers. Bulgaria comes with some of the most spectacular sea and countryside views. Covered with thick forests, vibrant colors and slow-moving rivers this country is a breath of fresh air.

Being a permanent member of the European Union, Bulgaria’s economy has shown rapid growth in the last few years thus, it is one of the best places to live in.

The monthly budget of a person in Bulgaria depends on where you decide to live. If you’re planning on living in the capital city Sofia, the real estate prices will be a bit higher nevertheless; they are inexpensive compared to other western Europe countries. However, prices tend to decrease once you move away from the city and into the countryside.

All in all, an estimated budget for a person living in Bulgaria is most likely to be as low as 600 Euros.

#3 Romania

Romania is amongst one of the most underrated countries in Eastern Europe. With its unmatched natural beauty, affordable cost of living and mouth-watering gastronomy, Romania is one of the top contenders in our list of cheap countries to live in.

With its rich culture and eye-catching traditions, this is one country that you will never get bored of.

While Romania is a part of the European Union, it does not use Eurocurrency. This makes living cost of living even cheaper. On average you may spend 600 Euros per month; but then again, the budget may vary depending on which part of the country you live in. The most expensive city to live in is Bucharest.

#4 Hungary

Hungary is no doubt, the best place to live in Europe. Not only is it cheap but it also has a great history, culture, food and even people. It sits at a prime position in central Europe making it easy and affordable to travel to other parts of Europe.

The country is famous for its spectacular vineyards which are affordable thus allowing you to have a long term investment.

If you’re planning to stay outside Budapest, the real estate prices get even cheaper. Living in the countryside will cost you only 900 Euros per month. However, living inside the city may cost you up to 1400 Euros per month. It is still a lot cheaper than most European states.

#5 Portugal

This may not be the cheapest country in our list but various factors make Portugal a contender amongst the good and affordable countries of Europe. With its delicious seafood, unique seaside and relaxing atmosphere, this country is all that a person needs after retirement.

Considering that it is a part of Western Europe, Portugal is the cheapest country in its region. However, like every other country, your budget per month varies depending on where you live. Some of the most expensive cities in the country are Lisbon and Porto. If you avoid living in either of these two cities, you can easily pass the month by spending less than 1200 Euros.

The country has one of the best climates on the continent. Since it is located in southern Europe, the temperatures are warm but the cool sea breeze makes it less hot than the inner parts of Europe.


Europe is one of the greatest continents to live in. While a lot of us have dreamed about living there, most of us back off considering the costs and affordability. However, if you plan right, you can end up living in one of the greatest yet cheapest places on the continent.

Depending on what kind of weather or terrain you are looking for, our list of cheap countries will help you find a new home in no time.

It is best if you start by analyzing your budget and compare it with the cost of living of all the countries. Moreover, while the city buzz might sound exciting, it is best to live in the countryside where the prices are cheap and you get a real taste of living in Europe.

So, what are you waiting for? start planning your trip to Europe today.

You may also like

Leave a Comment