Looking to reduce your cost of living and potentially lower your tax bill? There are plenty of countries around the world that offer a more affordable lifestyle without sacrificing quality of life. Based on the new Viacom Cost of Living Index by City Mid-Year 2022, we’ve compiled a list of some of the cheapest places to live. From Peshawar, Pakistan to Cali, Colombia, read on to find out where you can live for a fraction of the cost of living in major cities like New York or London.
Pakistan
Pakistan offers some of the lowest costs of living in the world, with Peshawar being the least expensive city according to the index. The average cost of a one-bedroom apartment in the city is around $200 per month, and rent is also affordable, with a one-bedroom apartment averaging around $80 per month.
Georgia
Georgia offers low costs of living coupled with a rich culture and history. The capital city of Tbilisi has an average apartment price of around $700 per square meter, and rent in 2021 and 2022 used to be very affordable at around $200 per month for a one-bedroom apartment. However due to recent influx of Russians you’ll be looking at double or triple the rental price. Buying property is still very affordable.
Mexico
Mexico is a popular destination for expats looking for a more affordable lifestyle. In the city of Merida, the average cost of a one-bedroom apartment is around $300 per month, while rent is affordable at around $160 per month for a one-bedroom apartment.
Thailand
Thailand is another popular destination for expats, and the city of Chiang Mai offers low costs of living with a vibrant cultural scene. The average cost of a one-bedroom apartment in the city is around $300 per month, while rent is affordable at around $200 per month for a one-bedroom apartment.
Vietnam
Vietnam‘s Ho Chi Minh City is an emerging destination for expats, with a growing startup scene and affordable costs of living. The average cost of a one-bedroom apartment in the city is around $500 per square meter, and rent is affordable at around $250 per month for a city center apartment.
Poland
Krakow, Poland, ranks at number 166 on the list of most affordable cities. The average apartment price in Poland is around $150,000, while the average monthly rent for a one-bedroom apartment is around $350.
Ecuador
Cuenca, Ecuador, ranks at number 143 on the list of most affordable cities. The average apartment price in Ecuador is around $80,000, while the average monthly rent for a one-bedroom apartment is around $350.
Colombia
Colombia, ranks at number 129 on the list of most affordable cities. The average apartment price in Colombia is around $100,000, while the average monthly rent for a one-bedroom apartment is around $350.
Indonesia
Bali, Indonesia, ranks at number 108 on the list of most affordable cities. The average apartment price in Indonesia is around $80,000, while the average monthly rent for a one-bedroom apartment is around $400.
Serbia
Belgrade, Serbia, ranks at number 103 on the list of most affordable cities. The average apartment price in Serbia is around $120,000, while the average monthly rent for a one-bedroom apartment is around $400.
Portugal
Coimbra, Portugal, ranks at number 79 on the list of most affordable cities. The average apartment price in Portugal is around $160,000, while the average monthly rent for a one-bedroom apartment is around $450.
