10 Cheapest Cities in the World to Live In in 2022

10 Cheapest Cities in the World to Live In in 2022

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Introduction

So you’ve been wanting to relocate someplace else for some time now and have been hunting for the cheapest cities in the world to live in. Well, who wouldn’t want to cut costs and stretch their funds, eh?

Amid rising prices across the board, I hope this list of the cheapest cities in the world to live in can help you enjoy your life to the fullest without having to break the bank.

Before we proceed, though, always take visa fees and requirements into account when considering a move abroad. You might be permitted to enter certain countries for up to three months without a visa depending on your nationality; other nations have stricter laws. Do your homework on visa requirements for any country you’d wish to live in.

Cheapest Cities in the World to Live In: Hanoi, Vietnam

One of the least expensive nations in Southeast Asia is Vietnam. Its capital, Hanoi, is the ideal location for those on a small budget to live and work overseas.

This multi-ethnic and old city is well recognized for its buildings, food on the streets, nightlife, and extensive past. Hanoi has been around for centuries, and the influences of the Chinese, French, and Russian cultures can still be seen.

If you’re up to meeting new people, immersing yourself in a vibrant culture, discovering Vietnam’s natural beauty, and, of course, saving money, Hanoi is a fantastic place to call home.

Although Hanoi’s health care system is relatively developed, the majority of its medical services are still not on par with those offered in Singapore and other nearby expat hot spots. The majority of hospital staff lacks the English language proficiency necessary to prescribe, and the facilities are not particularly remarkable.

Cost of Living in Hanoi

A meal at an inexpensive restaurant in Hanoi is estimated to cost 50,000 dong while a mid-range restaurant can charge 475,000 dong for a three-course meal for two, according to global cost of living data aggregator Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within Hanoi’s city center is at roughly 56.3 million dong, while that outside of the area is at 31.4 million dong. Rent for one-bedroom apartments inside and outside the city center cost 8.2 million dong and about 5.6 million dong on average per month, respectively.

The overall monthly cost of living in Hanoi for one person can hit about 10.5 million dong on average, while it can cost 37.4 million dong for a family of four, both excluding rent.

Cheapest Cities in the World to Live In hanoi
Aroma stick factory, Hanoi, Vietnam. Image by wirestock on Freepik

Cheapest Cities in the World to Live In: Quito, Ecuador

The capital of Ecuador is a fantastic location for a low-cost lifestyle. The city is lively and interesting. The streets are busy and teeming with people. It only takes a day excursion to the nearby mountains and lush scenery to get away from the business of life.

Quito serves as a fantastic starting point for traveling around Ecuador too. The Amazon, the Cloud Forest, the mountains, the seashore, or even the Galapagos Islands can be visited on weekends while living and working in a metropolis.

A municipal bus in Quito costs less than $1, making public transportation extremely affordable. It merely costs a few dollars to get to a nearby area as well.

In general, Quito’s healthcare system is of excellent caliber, with professionals in every subject and competent medical attention. Expats have access to both public and private healthcare facilities. Before traveling to Quito, expats should purchase international health insurance. There aren’t any clinics in some remote areas. Ambulatory procedures will be your first option if you are too unwell to leave the house.

Cost of Living in Quito

A meal at an inexpensive restaurant in Quito is estimated to cost US$3.5 while a mid-range restaurant can charge US$40 for a three-course meal for two, according to Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within Quito’s city center is at US$1,317, while that outside of the area is at US$1,000. Rent for one-bedroom apartments inside and outside the city center cost US$461 and US$238 on average per month, respectively.

The overall monthly cost of living in Quito for one person can hit US$508 on average, while it can cost about US$1,842 for a family of four, both excluding rent.

Cheapest Cities in the World to Live In: Bangkok, Thailand

Thailand is one of the most well-liked tourism destinations globally and its capital, Bangkok, is one of the cheapest cities in the world to live in.

You’ll be mesmerized by the vibrant Buddhist temples during the day and the sound of motorized rickshaws (locally called tuk-tuks) zipping through the streets. By night, you may take in the bustling night markets, thrilling Muay Thai boxing events, and mouthwatering aroma of Thai street food.

There are numerous doctors and specialists who speak English in Bangkok’s healthcare system, which is generally of high quality. Excellent private hospitals may be found in Bangkok, and they frequently hire staff members with western-style educations.

As opposed to what immigrants from the US or Europe would anticipate, these institutions sometimes cost far less. Thailand is becoming more and more popular as a destination for medical tourists due to the great quality of care and affordable costs of treatment. Some medical facilities that welcome patients from abroad more closely resemble hotels than medical facilities. In particular, this is true of the hospitals in the city’s south, which advertise their medical services alongside beach vacation packages.

Cost of Living in Bangkok

A meal at an inexpensive restaurant in Bangkok is estimated to cost 95 Thai baht while a mid-range restaurant can charge 1,000 baht for a three-course meal for two, according to Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within Bangkok’s city center is at 181,769 baht, while that outside of the area is at 88,292 baht. Rent for one-bedroom apartments inside and outside the city center cost 19,038 baht and 9,654 baht on average per month, respectively.

The overall monthly cost of living in Bangkok for one person can hit 21,152.5 baht on average, while it can cost about 76,242 baht for a family of four, both excluding rent.

Cheapest Cities in the World to Live In: Sofia, Bulgaria

Bulgaria is a lesser-known European country located in the eastern side of the continent and is rich in both natural beauty and historical significance.

Living and working abroad in Sofia’s capital city is a wonderful experience. The folks are incredibly warm and hospitable because the nation isn’t as flooded with tourists like other parts of Europe. They provide cost-effective tours including culinary and graffiti tours in addition to free walking tours around Sofia.

In terms of medical care, you’ll be able to get several services for nothing or for a discounted rate if you have a European Health Insurance Card although you don’t have a job in Sofia. You will have paid social security contributions as an expat working and residing in Sofia to be allowed to use the public healthcare system.

Even though Sofia’s public system is more modern and has better facilities than many other Bulgarian cities, it is still not at par with the standards of the public systems in many other European countries.

But, you might be relieved to learn that many doctors in Sofia understand English and frequently receive their medical training in Western Europe before coming back to work in Sofia.

Cost of Living in Sofia

A meal at an inexpensive restaurant in Sofia is estimated to cost 20 Bulgarian leva (US$10.15), while a mid-range restaurant can charge 70 leva for a three-course meal for two, according to Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within Sofia’s city center is at 4,634 leva, while that outside of the area is at 2,983 leva. Rent for one-bedroom apartments inside and outside the city center cost 818 leva and 613 leva on average per month, respectively.

The overall monthly cost of living in Sofia for one person can hit 1,127 leva on average, while it can cost about 3,955 leva for a family of four, both excluding rent.

Cheapest Cities in the World to Live In: La Paz, Bolivia

Bolivia is a fantastic place to live and work abroad because it is one of South America’s least expensive nations.

The North Yungas bicycle road, the Uyuni Salt Flats, and Lake Titicaca are just a few of the spectacular views in this nation that you can visit with the money you save on living expenses.

The costs of medical treatment may differ in La Paz. Even though the city has a brand-new hospital, the majority of foreigners seek for private facilities and care. You should make sure to have international healthcare coverage before migrating to La Paz.

Cost of Living in La Paz

You’ll discover that food and drinks are relatively affordable if you eat at neighborhood restaurants rather than popular tourist destinations. A meal at an inexpensive restaurant in La Paz is estimated to cost 19 Bolivian bolivianos while a mid-range restaurant can charge 140 bolivianos for a three-course meal for two, according to Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within La Paz’ city center is at 8,949 bolivianos, while that outside of the area is at 6,897 bolivianos. Rent for one-bedroom apartments inside and outside the city center cost 1,788 bolivianos and 1,503 bolivianos on average per month, respectively.

The overall monthly cost of living in La Paz for one person can hit 3,502.5 bolivianos on average, while it can cost about 12,601 bolivianos for a family of four, both excluding rent.

Cheapest Cities in the World to Live In la paz
La Paz, Bolivia. ©Nikolina Koevska

Cheapest Cities in the World to Live In: Cusco, Peru

Cusco is renowned for serving as the entrance to Machu Picchu. Before or after visiting the renowned Incan World Wonder, many tourists spend a few days in this mountainous city.

It’s great whether you’re here for the short or long haul since Cusco is one of the cheapest cities in the world to live in.  It’s a comfortable city encircled by mountains and hills yet with exciting night life. It offers satisfying Peruvian cuisine and vibrant local crafts, as well as features the Incan ruins which you can visit on your day off.

You can also explore neighboring scenic spots in Peru, such as the Rainbow Mountain or the Maras Salt Flats.

Try frequenting local markets to get great food for cheap and party at one the numerous hostel bars which hold happy hours and theme nights so you could enjoy discounts.

In terms of healthcare, it’s better to choose private facilities in Cusco since they offer acceptable services and care.

In comparison to North American peers, Peru’s public healthcare system overall is overly underdeveloped. Getting an appointment in a public hospital frequently requires months of waiting. There is a significant waiting period, even for minor health conditions.

You can’t expect even the most basic healthcare in rural places, which is a sad fact. The last place you would want to go in an emergency is a clinic that is understaffed and underfunded and is located in the suburbs.

Cost of Living in Cusco

A meal at an inexpensive restaurant in Cusco is estimated to cost 7.5 soles (US$2.01) while a mid-range restaurant can charge 100 soles for a three-course meal for two, according to Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within Cusco’s city center is at 15,167 soles, while that outside of the area is at 8,903 soles. Rent for one-bedroom apartments inside and outside the city center cost 1,375 soles and 975 soles on average per month, respectively.

The overall monthly cost of living in Cusco for one person can hit 1,727 soles on average, while it can cost about 6,080 soles for a family of four, both excluding rent.

Cheapest Cities in the World to Live In: Zagreb, Croatia

Croatia is a stunning Mediterranean nation that is gaining in prominence. Many travelers arrange trips to the Croatian islands and coastal towns in order to go island-hopping and sunbathe.

However, Croatia’s major city, Zagreb, can be found if you travel inland and to the north of the country. Zagreb has a lot of character is one of the cheapest cities in the world to live in.

Croatia’s coastal towns have an Italian or Greek vibe, while Zagreb has an authentic eastern European vibe. It offers breathtaking nearby national parks, intriguing museums, expansive public squares, traditional and flashy restaurants, and affordable local street markets. It also has magnificent architecture.

Croatia has a high-quality healthcare system, with hospitals, private clinics, and pharmacies located all around the nation. In Croatia, there are numerous doctors and medical personnel who speak fluent English. For the purpose of paying for urgent care visits and other medical services, you should definitely get international health insurance before settling in Zagreb.

Cost of Living in Zagreb

A meal at an inexpensive restaurant in Zagreb is estimated to cost 70 kune while a mid-range restaurant can charge 302 kune for a three-course meal for two, according to Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within Zagreb’s city center is at 26,398 kune, while that outside of the area is at 17,753 kune. Rent for one-bedroom apartments inside and outside the city center cost 4,132 kune and 2,957 kune on average per month, respectively.

The overall monthly cost of living in Zagreb for one person can hit 4,995 kune on average, while it can cost about 17,164 kune for a family of four, both excluding rent.

Cheapest Cities in the World to Live In zagreb
Mountain Medvednica in Zagreb, Croatia. Image by wirestock on Freepik

Cheapest Cities in the World to Live In: Porto, Portugal

The cost of living in Lisbon’s capital city is rising daily as a result of an increase in tourism, while Porto, a city in northern Portugal, remained one of the cheapest cities in the world to live in. Though it is also one of the best European cities to visit, Porto is frequently disregarded by tourists who are headed to Lisbon.

Portugal’s northern region is beautiful. It is dotted with vibrant contemporary cities, serene beachfront communities, blue-tiled cathedrals, and vineyards and wineries.

Portugal has generally very high medical standards that far exceed those of many other nations. Particularly in Porto, the emergency services are first-rate. Public and private hospitals abound in the area, and the level of care is excellent.

Cost of Living in Porto

Porto has very reasonable living expenses, transportation charges, and prices for drinks and food.

A meal at an inexpensive restaurant in Porto is estimated to cost 8 euros while a mid-range restaurant can charge 35 euros for a three-course meal for two, according to Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within the city center is at 3,414 euros, while that outside of the area is at 1,903 euros. Rent for one-bedroom apartments inside and outside Porto’s city center cost 720 euros and 557 euros on average per month, respectively.

The overall monthly cost of living in Porto for one person can hit 575 euros on average, while it can cost about 2,027 euros for a family of four, both excluding rent.

Cheapest Cities in the World to Live In: Phnom Penh, Cambodia

Cambodia is close to Vietnam and Thailand. The ancient temples of Siem Reap are the reason this nation is most well-known, but Phnom Penh, the country’s capital, is a burgeoning tourist destination in Southeast Asia.

Phnom Penh is the country’s cultural hub. Due to its superior level of amenities compared to other regions of the nation, it is a convenient place to reside. Booking trips or excursions beyond the city is very inexpensive and simple, allowing you to explore Cambodia during your free time.

The standard of medical care in Phnom Penh has greatly improved, and is presently quite good. However, it would still be best to travel overseas for medical attention if you have a serious medical condition.

Cost of Living

As far as living costs go, it’s hard to beat Cambodia. Utilities, food, drinks, shopping, and everything else is very cheap here as well.

A meal at an inexpensive restaurant in Phnom Penh is estimated to cost US$3 while a mid-range restaurant can charge US$23.5 for a three-course meal for two, according to Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within Phnom Penh’s city center is at US$2,339.5, while that outside of the area is at US$1,626. Rent for one-bedroom apartments inside and outside the city center cost US$543 and US$322 on average per month, respectively.

The overall monthly cost of living in Phnom Penh for one person can hit US$631 on average, while it can cost about US$2,223.5 for a family of four, both excluding rent.

Cheapest Cities in the World to Live In: Cape Town, South Africa

The cost of living is low in many African cities, with Cape Town being among the most renowned. Beautiful natural scenery, historical sites, bright landmarks, and more are all present in this vivacious and multicultural metropolis.

Numerous of Cape Town’s top attractions may be enjoyed for free, which is one of its best features. A few of Cape Town’s highlights include hiking Table Mountain or Lion’s Head, taking in the rainbow-colored buildings of Bo-Kaap, and swimming and surfing in the city’s stunning beaches.

The healthcare facilities of Cape Town are regarded as being of a high caliber in Africa, similar to Johannesburg. They frequently have excessive wait times and inadequate staff, though, as the public medical facilities attempt to serve their surrounding areas.

When relocating to Cape Town, you might wish to utilize the private healthcare system. This is due to a variety of factors, including the fact that many Westerners demand privacy and that the private medical care system offers more roomy medical services. There are numerous brand-new, highly effective private hospitals in Cape Town, where the level of treatment is on par with what you would expect from a private hospital in Europe, America, or Australia.

Cost of Living in Cape Town

Cheap auto rentals, sim cards, and grocery shopping are all available in this city. In comparison to other developed cities, Cape Town has substantially lower cost of living.

A meal at an inexpensive restaurant in Cape Town is estimated to cost 150 rand while a mid-range restaurant can charge 600 rand for a three-course meal for two, according to Numbeo.

In terms of real estate, the cost per square meter for buying an apartment within Cape Town’s city center is at 35,888 rand, while that outside of the area is at 24,611.5 rand. Rent for one-bedroom apartments inside and outside the city center cost 12,061.5 rand and 8,020 rand on average per month, respectively.

The overall monthly cost of living in Cape Town for one person can hit 8,862 rand on average, while it can cost about 31,282 rand for a family of four, both excluding rent.

Cheapest Cities in the World to Live In: Bottom Line

Consider taking part in a job exchange if you don’t want to be a digital nomad but still want to live abroad on a budget. In return for your lodging, you can work for a nearby company, group, or family. You’ll live with locals and other travelers, significantly lowering your living expenses.

Ultimately, do note that everybody leads a unique life. If you spend a lot of money on shopping, eating out, drinking, and treating yourself, any of these places may be more expensive. So, while estimating how much it will cost to live abroad, always take your personal lifestyle into consideration.

If you want to learn more about investments, you can read our articles such as best investment options for Australian expats in 2021, what are the best investment options for Canadian expats in 2021, and what are the best investment options for UK expats in 2022.

Pained by financial indecision? Want to invest with Adam?

Adam is an internationally recognised author on financial matters, with over 466.9 million answers views on Quora.com and a widely sold book on Amazon

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