The world has issues. Issues that can’t be denied. Business Insider surveys for the last 5 years have all had safety, security, and well-being as one of the world’s ten most critical issues. This implies that the cost of living which determines affordable cities in the world is a critical issue.
Sometimes, you just want to have a taste of what life is like in other places, and knowing which places are affordable can be an immense relief. To provide an understanding of what affordable cities are across the globe, it ranked cities because of the cost of living.
This article looks at the top 15 most affordable cities in the world to live in. It promises to be an interesting read.
What is an affordable city?
An affordable city is one in which the cost of living, lifestyle, and safety of the average resident is taken into consideration. An affordable city is one in which food, living, entertainment, and transportation are relatively easy to come by.
There are lots of affordable cities in the world, and contrary to what many may believe, some of the cities they believe to be expensive or cheap are actually affordable.
What does cost of living mean?
This means lots of things to many people, and for the most part, they are not wrong. While we may choose to go along with Cambridge dictionary’s definition which defines it as “the amount of money that people need to spend in order to buy basic goods or services such as food, clothes and a place to live”, or Mercer’s definition which adds transportation and entertainment to that, it is in more ways than not, subjective. This is better understood on “ground.”
Yes, most definitely. The search for the most affordable cities in the world for living did not spare any continent or region in its search. Some places may not have made the list, but they were all taken into account.
15 most affordable cities in the world for living
Here it goes…
#15 – Thessaloniki (Greece)
This city which is the second-largest city in Greece and is home to about a million inhabitants is the 15th most affordable city to live in. This city which is home to many Byzantine and Paleochristian monuments and houses a UNESCO World Heritage Site is a popular tourist attraction in Greece. The city offers affordable food, housing, and personal care. The cost of living for a single person in Thessaloniki is estimated to be about 1,009 euros.
#14 – Panama City (Panama)
This capital and largest city of Panama which is home to an urban population of more than 1.5 million people is the 14th most affordable city. This city whose old ruins from 1671 have become a tourist attraction offers affordable basic lunchtime food at 15 Balboa. The cost of living for a single person in Panama city is 1,653 Balboa.
#13 – Tallinn (Estonia)
Tallinn, the most populous city of Estonia is also quite affordable. The city offers basic lunch for €9 and monthly rent for furnished accommodation in a normal area for €697. Tallinn which is the main financial, industrial, and cultural center of Estonia is home to less than 500, 000 inhabitants. The cost of living for a single person in Tallinn is 1,425 euros.
#12 – Oporto (Portugal)
This city which houses less than 300,000 people compared to its metropolitan area that has about 1.7 million inhabitants, is our 12th most affordable city. Oporto or Porto is home to the National Monument of Portugal and a UNESCO World Heritage Site offers affordable food, housing, and transportation. The cost of living for a single person in Oporto is 1,314 euros.
#11 – Riga (Latvia)
This city whose cost of living is cheaper than 62% of cities in the world, is our 11th most affordable city. In Riga, a basic lunch goes for €8, monthly rent for furnished accommodation in a normal area goes for €508, a monthly ticket for public transportation goes for €47. This capital city of Latvia which houses a third of the total population of the country of about 2 million people has a rich culture. The cost of living for a single person in Riga is 1,132 euros.
#10 – Seville (Spain)
Seville, which is the second cheapest city in Western Europe, is our 10th most affordable city. Seville is the fourth largest city in Spain and the 30th most populous municipality in the European Union. This city which houses three UNESCO World Heritage Sites is very affordable. The cost of living for a single person in Seville is 1,216 euros.
#9 – Bangkok (Thailand)
Bangkok, the capital and most populous city of Thailand is our 9th most affordable city. The cost of living in Bangkok is cheaper than in 63% of cities in the world. The city has a current population of about 10.5 million people and houses about 15.3% of the country’s population. A basic meal in Bangkok goes for about 220 Baht. The cost of living for a single person in Bangkok is 50,906 baht.
#8 – Beijing (China)
Beijing, a city located in North China and the capital of the People’s Republic of China, is the world’s most populous city. Beijing, whose economy is the most developed in China and is the second-largest city in China after Shanghai, is the 8th most affordable city in the world to live in. The cost of living for a single person in Beijing is estimated to be about 13,162 Yuan.
#7 – Montevideo (Uruguay)
This city of about 1.3 million people, which is about a third of the total population of the country, is the 7th most affordable city in the world to live in. Montevideo, which is the capital and largest city of Uruguay, and is described as a vibrant and culturally rich place, is a very affordable place to live in. Monthly costs for a single person in Montevideo is estimated to be about 52, 706 pesos.
#6 – Murcia (Spain)
This city which is known for its long agricultural tradition is the 6th most affordable city in the world to live in. The seventh-largest city in Spain and located in the south-eastern part of the country is very affordable. The monthly costs for a single person living in Murcia is estimated to be about 1, 178 euros.
#5 – Zagreb (Croatia)
Zagreb, Croatia’s capital and located in the north-western part of the country, is the 5th most affordable city in the world to live in. This amazing capital which has given diverse experiences to all those who have visited is very affordable. The cost of living for a single person in this green, very welcoming city, is estimated to be about 8,624 Kuna.
#4 – Vilnius (Lithuania)
Vilnius, Lithuania, is a city that reflects many eras and cultures. It is a city that has left unforgettable memories in the minds of visitors. This capital city of Lithuania and the largest city with a population of just below 600,000 is a very affordable city to live in. Monthly costs for a single person living in Vilnius is estimated at about 1, 144 euros.
#3 – San Jose, Costa Rica (Costa Rica)
San Jose, which is the capital and largest city in Costa Rica is home to about 330,000 people. The city is known for its high quality of life, security, and high level of globalization. The monthly costs for a single person living in San Jose, Costa Rica is estimated to be about 728,388 colons.
#2 – Bratislava (Slovakia)
Bratislava, whose cost of living is cheaper than living in 66% of the cities in the world, is the capital and largest city of Slovakia. This old city that has been influenced by people of many nations and religions is home to about 430,000 people.
The cost of living for a single person in this city that has been ranked as the third richest region in the EU by GDP is estimated to be about 1,280 euros.
#1 – Port Louis (Mauritius)
Port Louis, the capital of Mauritius, is a city with a very rich history and is the most affordable city in the world to live in. It is the centre of the economic activity of this former French colony.
Port Louis is home to about 200,000 inhabitants. The costs of a single person living in Port Louis is estimated to be about 46,708 rupees. It is a place that is worth all the surrounding hype.
This list of the most affordable places in the world to live in is not an exhaustive one. Interesting things about these places were written to give background to some of the things stated. If you have wanted to visit any of these places, then this should serve as a glimpse into what living in these locations is like for the average resident.
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