The cheapest places to live in Europe for expats are primarily in Eastern and Southern Europe, with countries like Hungary, Romania, Bulgaria, Albania, and Montenegro offering the lowest costs of living. Monthly expenses can be under $1,000 in many of these areas, with cities like Budapest, Bucharest, and Bitola being top choices for affordability.
Bulgaria is often noted as the cheapest country in Europe, with living costs of $600 to $1,000 per month and rent as low as $300 outside Sofia. Other affordable options include Romania, Albania, Poland, and Portugal, where living expenses are still lower than in most Western European countries.
Portugal. Portugal is a fantastic location for retirees, expats, and digital nomads. It's affordable, has a fantastic climate, tons of natural beauty, friendly people, and offers a high standard of living. Not to mention, the wine and food choices are amazing!
Eastern Europe offers affordable health care, a low cost of living, and culturally rich, historically significant cities. Countries like Montenegro, Bulgaria, and Croatia are some of the most affordable countries in Europe for retirees.
The most affordable countries among the safest in the world are Latvia, Chile, Costa Rica, Slovakia, and Lithuania. The cost of living in these states varies from $1,000 to $1,100 per month.
Romania. Southern and Eastern Europe is generally the place to go for inexpensive property, and one of the newer EU nations Romania offers an average price per square metre equivalent to £1,282.
1. Portugal. Portugal continues to be rated as one of the best countries for expats, thanks to its warm climate, friendly locals, and accessible residency programs. As one of the most affordable Western European countries, it consistently attracts retirees, remote workers, and families.
The cheapest English-speaking countries to live in Europe often lie in Eastern Europe, with Albania, Romania, Bulgaria, and Bosnia and Herzegovina offering very low costs (under $1000/month for a decent living) and English spoken by many, especially younger people and in tech/tourism hubs like Tallinn (Estonia) or the Balkans. While Malta and Ireland have English as an official language and good English proficiency, they generally have higher costs than the East, with Malta being more affordable than Ireland but pricier than the Balkans.
Bulgaria
Bulgaria boasts one of the lowest flat tax rates in the European Union—just 10% on both personal and corporate income. This, combined with a low cost of living, makes it a favorite for U.S. expats who want to enjoy European life without blowing their budget.
I've helped hundreds of Americans move abroad—here are 4 of the easiest countries to move to in Europe
Monaco. Monaco has long been considered a top country for wealthy individuals to live in. The microstate has favorable tax policies for everyone, from non-residents and residents to corporations. Not only is zero tax levied on income earned outside Monaco, but income earned in the country is also tax-free.
10 best and cheapest countries to live in
For English speakers in Europe, the best places to live are typically the UK & Ireland (native English) and the Netherlands, Nordic countries (Sweden, Denmark, Norway, Finland), Malta, and Germany, where proficiency is extremely high, making daily life, work, and official matters smooth, with strong expat communities in many areas.
Portugal generally provides better value when it comes to buying property. For example, in Lisbon, average property prices range between €2,500 and €4,500 per square metre. By contrast, prime areas of Barcelona typically command prices between €5,000 and €7,000 per square metre.
Panama, Portugal, Spain, and France offer ideal settings for a peaceful and affordable retired life abroad. Smart financial planning ensures comfort, healthcare access, and lifestyle balance during retirement.
Hot Springs Village, Arkansas, is the best place to retire with little to no savings. More than 60 percent of the town's population is aged 65 and above, and annual expenses are estimated to be $21,114. Foley, Alabama, and The Villages, Florida, are the second and third best places to retire without savings.
Some of the best places to live in India for expats include Delhi, Mumbai, Pune, Bangalore, and Goa. These cities offer diverse lifestyles, strong expat communities, international schools, and modern amenities, ranging from fast-paced business hubs to relaxed coastal destinations.