By The cost of living is a critical factor to consider when relocating to a new city, particularly if you’re on a budget. For those planning to move to Europe, there are numerous affordable cities to choose from. However, with so many options, it can be challenging to decide which one is right for you.
In this article, we’ll highlight the top five cheapest places to live in Europe based on a set of criteria, including the affordability index, cost of living and rent, access to public transport, quality of life, and safety.
Additionally, we’ll provide honorable mentions of other affordable European cities and offer some additional considerations for those looking to relocate on a budget. Whether you’re a student, digital nomad, or just seeking an affordable change of pace, this guide will help you identify the most budget-friendly cities in Europe.
Importance of the cost of living in Europe
The cost of living is an essential factor to consider when living or traveling in Europe. It is the amount of money needed to maintain a comfortable standard of living in a particular city or region. The cost of living in Europe varies significantly, and it’s crucial to research the cost of living in each city to avoid unexpected expenses.
Understanding the cost of living is essential to budgeting and planning expenses effectively. It can help determine the amount of money needed to live comfortably in a particular city or country. By researching the cost of living, you can make informed decisions on housing, food, transportation, and other essential expenses.
Comparing the cost of living between European cities can also help determine which places are more affordable. For example, some European cities may have a higher cost of living due to higher rents, taxes, or other expenses. Knowing the cost of living differences between cities can help identify budget-friendly options.
Overall, understanding the cost of living is crucial for anyone planning to live or travel in Europe. It can help with budgeting, planning expenses, and identifying affordable locations.
Overview of the cheapest places to live in Europe
There are many affordable cities in Europe, making it an attractive option for students, expats, and budget travelers. Some of the cheapest places to live in Europe include Sofia, Bulgaria; Vilnius, Lithuania; Bucharest, Romania; Krakow, Poland; and Riga, Latvia. These cities offer a low cost of living, affordable housing, and access to public transportation, making them ideal for those seeking an affordable lifestyle. In addition to these cities, other honorable mentions include Athens, Greece; Budapest, Hungary; Lisbon, Portugal; Belgrade, Serbia; and Kiev, Ukraine. Each of these cities has its unique charm and appeal, making them worth considering for anyone looking to live in Europe on a budget.
Affordability index and ranking
The affordability index is based on Numbeo’s Cost of Living Index, which compares the cost of living in various cities around the world, taking into account factors such as housing, food, transportation, and other expenses. The ranking is based on the affordability index, with the city having the lowest index being ranked first. These cities offer a relatively low cost of living compared to other European cities, making them ideal for those on a budget.
| City | Affordability Index | Ranking |
|---|---|---|
| Sofia, Bulgaria | 53.49 | 1 |
| Vilnius, Lithuania | 51.94 | 2 |
| Bucharest, Romania | 50.92 | 3 |
| Krakow, Poland | 50.50 | 4 |
| Riga, Latvia | 49.92 | 5 |
Top 5 cheapest places to live in Europe
1 – Sofia, Bulgaria
Sofia, Bulgaria is the #1 cheapest place to live in Europe, with a cost of living index of 53.49, according to Numbeo’s data. Here are some of the reasons why:
- Cost of living and rent: The cost of living in Sofia is significantly lower than in many other European cities. Rent for a one-bedroom apartment in the city center can cost around €350 per month, which is quite affordable compared to other European cities. Other expenses, such as food and transportation, are also relatively inexpensive in Sofia.
- Public transport: Sofia has a well-developed public transport system, which includes buses, trams, and a metro. A single ride on any mode of public transport costs around €0.50, and a monthly pass costs €20. This makes it easy and affordable to get around the city.
- Quality of life and safety: Despite being a relatively affordable city, Sofia still offers a good quality of life. The city has a rich history and culture, with plenty of museums, galleries, and parks to explore. It is also a safe city, with low levels of crime and a friendly and welcoming atmosphere.
Overall, Sofia is an excellent choice for those seeking an affordable and comfortable lifestyle in Europe. With its low cost of living, efficient public transport system, and high quality of life, it is no surprise that Sofia is one of the top choices for expats and budget travelers.
2 – Vilnius, Lithuania
Vilnius, Lithuania is the #2 cheapest place to live in Europe, with a cost of living index of 51.94, according to Numbeo’s data. Here are some of the reasons why:
- Cost of living and rent: Vilnius is a relatively affordable city, with a cost of living that is lower than in many other European cities. Rent for a one-bedroom apartment in the city center can cost around €400 per month, which is quite affordable compared to other European cities. Other expenses, such as food and entertainment, are also relatively inexpensive in Vilnius.
- Public transport: Vilnius has a well-developed public transport system, which includes buses and trolleybuses. A single ride on any mode of public transport costs around €1, and a monthly pass costs €30. This makes it easy and affordable to get around the city.
- Quality of life and safety: Vilnius is a safe and welcoming city, with a high quality of life. The city is known for its historic old town, which is a UNESCO World Heritage Site, as well as its many parks and green spaces. It is also a cultural hub, with a thriving arts and music scene.
Overall, Vilnius is an excellent choice for those seeking an affordable and comfortable lifestyle in Europe. With its low cost of living, efficient public transport system, and high quality of life, it is no surprise that Vilnius is becoming an increasingly popular destination for expats and budget travelers.
3 – Bucharest, Romania
- Cost of living and rent: Bucharest is one of the cheapest cities to live in Europe, with a cost of living index of 47.08 according to Numbeo’s data. Rent for a one-bedroom apartment in the city center can cost around €300 per month, which is significantly lower than other European capitals. Other expenses, such as food and entertainment, are also relatively inexpensive in Bucharest.
- Public transport: Bucharest has a well-developed public transport system, which includes buses, trams, and the metro. A single ride on any mode of public transport costs around €0.40, and a monthly pass costs €12. This makes it easy and affordable to get around the city.
- Quality of life and safety: Bucharest is a vibrant and dynamic city, with a rich cultural heritage and a high quality of life. However, like any big city, it also has its fair share of challenges. Safety can be an issue in some areas of the city, and the quality of public services such as healthcare and education is not always up to Western European standards. However, Bucharest is also a city with plenty of opportunities and a rapidly growing economy, making it an attractive destination for young professionals and entrepreneurs.
Overall, Bucharest is an excellent choice for those seeking an affordable lifestyle in Europe. With its low cost of living, efficient public transport system, and growing economy, it offers plenty of opportunities for expats and budget travelers. While it may not be the safest or most comfortable city in Europe, it is a city with plenty of character and charm, and is well worth exploring.
4 – Krakow, Poland
- Cost of living and rent: Krakow is a relatively affordable city to live in, with a cost of living index of 54.20 according to Numbeo’s data. Rent for a one-bedroom apartment in the city center can cost around €450 per month, which is quite reasonable compared to other European cities. Other expenses, such as food and entertainment, are also relatively inexpensive in Krakow.
- Public transport: Krakow has a well-developed public transport system, which includes buses and trams. A single ride on any mode of public transport costs around €0.75, and a monthly pass costs €30. This makes it easy and affordable to get around the city.
- Quality of life and safety: Krakow is a charming and historic city, with a rich cultural heritage and a high quality of life. It is a safe city, with low levels of crime and a friendly and welcoming atmosphere. The city is known for its stunning architecture, including its well-preserved medieval Old Town, which is a UNESCO World Heritage Site. There are also plenty of parks and green spaces to enjoy.
Overall, Krakow is an excellent choice for those seeking an affordable and comfortable lifestyle in Europe. With its low cost of living, efficient public transport system, and high quality of life, it is no surprise that Krakow is becoming an increasingly popular destination for expats and budget travelers.
5 – Riga, Latvia
Riga, the capital of Latvia, is an attractive option for those looking for the cheapest places to live in Europe.
- Cost of living and rent: The cost of living in Riga is relatively low, with a cost of living index of 49.55, according to Numbeo. The average cost of rent for a one-bedroom apartment in the city center is around €400 per month, which is quite affordable.
- Public transport: Riga has a comprehensive public transport system, which includes buses, trams, trolleybuses, and trains. A single ride on any mode of public transport costs around €1.15, and a monthly pass costs €50. This makes it easy and affordable to get around the city.
- Quality of life and safety: Riga is a vibrant and cosmopolitan city, with a high quality of life and a low crime rate. The city has a rich cultural heritage, including a well-preserved medieval Old Town that is a UNESCO World Heritage Site. There are also plenty of parks and green spaces to enjoy.
Overall, Riga is a great destination for those seeking an affordable and comfortable lifestyle in Europe. With its low cost of living, efficient public transport system, and high quality of life, it is an increasingly popular destination for expats and budget travelers.
Honorable Mentions in Europe
A. Athens, Greece Athens, the capital city of Greece, is a historical and cultural hub that attracts millions of visitors every year. With ancient landmarks such as the Acropolis, the Parthenon, and the Temple of Olympian Zeus, Athens is a city steeped in history and mythology. Visitors can also explore the city’s many museums, such as the National Archaeological Museum and the Benaki Museum, to learn more about Greek history and culture. In addition to its rich history, Athens is also a vibrant modern city with a bustling nightlife and delicious cuisine. Visitors can enjoy traditional Greek dishes like moussaka and souvlaki in cozy tavernas and explore the city’s many shops and markets.
B. Budapest, Hungary Budapest, the capital city of Hungary, is a beautiful city located on the banks of the Danube river. Known for its stunning architecture, Budapest is home to numerous historic landmarks, including the Buda Castle, the Hungarian Parliament Building, and the Fisherman’s Bastion. Visitors can also enjoy the city’s many thermal baths, such as the Széchenyi Thermal Bath and the Gellért Thermal Bath, which are said to have healing properties. In addition to its cultural and historical attractions, Budapest is also known for its vibrant nightlife and delicious cuisine. Visitors can enjoy traditional Hungarian dishes such as goulash and chimney cake while exploring the city’s many restaurants and bars.
C. Lisbon, Portugal Lisbon, the capital city of Portugal, is a charming and vibrant city located on the Atlantic coast. Known for its colorful architecture and stunning views, Lisbon is a popular destination for visitors from around the world. The city is home to numerous historic landmarks, including the Belem Tower, the Jerónimos Monastery, and the São Jorge Castle. Visitors can also explore the city’s many museums, such as the National Museum of Ancient Art and the Calouste Gulbenkian Museum. Lisbon is also famous for its delicious cuisine, which includes seafood dishes such as grilled sardines and codfish cakes, as well as pastries like the famous pastel de nata.
D. Belgrade, Serbia Belgrade, the capital city of Serbia, is a vibrant and modern city located at the confluence of the Sava and Danube rivers. The city has a rich history and culture, with numerous historic landmarks such as the Belgrade Fortress, the Kalemegdan Park, and the Saint Sava Temple. Visitors can also explore the city’s many museums, such as the National Museum and the Nikola Tesla Museum, which is dedicated to the life and work of the famous inventor. Belgrade is also known for its nightlife and delicious cuisine, which includes traditional Serbian dishes such as cevapi and pljeskavica.
E. Kiev, Ukraine Kiev, the capital city of Ukraine, is a beautiful and historic city located on the Dnieper River. The city has a rich history and culture, with numerous historic landmarks such as the Kiev Pechersk Lavra, the Saint Sophia Cathedral, and the Golden Gate of Kiev. Visitors can also explore the city’s many museums, such as the National Museum of Ukrainian History and the Museum of Western and Oriental Art. Kiev is also known for its delicious cuisine, which includes traditional Ukrainian dishes such as borscht and varenyky. Visitors can also enjoy the city’s vibrant nightlife, with numerous bars and clubs located throughout the city.
