The Cheapest European Country To Live in 2024

To find the cheapest European countries to live in, you must look at important factors affecting the cost of living. These include housing costs like rent and property, utility bills such as electricity and water, food expenses, healthcare costs, and transportation fees. Leisure activities and entertainment prices should also be part of the budget.

Bulgaria, Romania, Poland, Hungary, and Portugal are some of the most affordable countries in Europe, with lower housing, food, and transportation costs.

And it gets better! Some of the best countries to live in offer the Digital Nomad Visa, which allows non-European citizens who work for foreign businesses to live in Europe. While some also offer a Golden Visa to individuals who are interested in longer residency periods.

1. Albania

The Czech Republic has some of the best cities in Europe for digital nomads. For instance, cities like Prague, Brno, and Ostrava offer an average monthly budget ranging from $800 to $1,200.

The country also has good internet speed, crucial for remote work, and a high-quality healthcare system. With its beautiful landscapes and historic sites, the Czech Republic provides an attractive environment for those seeking both affordability and a vibrant lifestyle in Europe.

6. Hungary

Cheapest cities: Debrecen Szeged and Miskolc

Hungary, also located in Central Europe, is famous for its stunning architecture, thermal baths, and rich cultural traditions, especially in the country’s capital, Budapest. Hungary’s average cost of living ranges from $700 to $1,200 per month, making it easy for residents to enjoy a high quality of life without spending too much. It is also considered to be one of the European countries with affordable real estate, meaning rent is also on the cheaper side.

The country has an amazing culinary scene, and in terms of entertainment, Hungary has a lively nightlife and numerous festivals that attract expats and tourists.

In addition to entertainment options, there is a strong public healthcare system. Hungary’s central location in Europe makes it an ideal hub for travel throughout the continent. But there are also cities like Debrecen, Szeged, and Miskolc, which are great to explore, and each offers something unique, like delicious food, beautiful parks, and historical sites. One thing you can count on in Hungary is having an active social life and safety while living in one of the more affordable European countries. It also has recently re-introduced the Hungary Golden Visa program with various investment options.

7. Portugal

Cheapest cities: Coimbra, Braga, Évora

Portugal is famous for its beautiful beaches, rich culture, and warm weather. While the cost of living is increasing in some cities like Lisbon and Porto, making them comparatively expensive, it is still lower than in many Western European countries, especially in smaller cities like Coimbra and Braga. In these places, residents can expect to spend about $800 to $1,200 monthly, allowing for a comfortable lifestyle.

The country also offers expats the option to live there longer through the Portugal Digital Nomad Visa, which grants a residence permit to remote workers who can meet the minimum income requirements. There is also the attractive Portugal Golden Visa for those who want to stay longer and enjoy the benefits of living in Portugal.

Moreover, Portugal is known for its friendly people and strong expat community. It also has good tax benefits for foreign residents and a growing tech scene, which attracts digital nomads and retirees. The country is beautiful and affordable and is considered one of the easiest countries to immigrate to.

8. Slovakia

Cheapest cities: Košice, Prešov Nitra

Slovakia is one of Europe’s hidden gems, known for its beautiful mountains, charming towns, and rich history. The living expenses in Slovakia are lower than in many neighboring countries, especially in smaller cities like Košice and Prešov, where residents can enjoy a monthly budget of about $800 to $1,200.

The country offers a high standard of living with excellent healthcare services, a reliable transportation system, and a safe environment for families and individuals.

Slovakia has many outdoor activities, including hiking in the High Tatras mountains and exploring national parks. With its central location, Slovakia is a convenient base for traveling to other European destinations like Austria, Hungary, and Poland, with affordable options for long-distance train tickets.

The increasing number of expats and a growing economy, especially in the tech and automotive sectors, make it an appealing place for young professionals looking for new opportunities.

 9. Serbia

Cheapest cities: Belgrade, Novi Sad, Niš

Serbia is one of the cheapest countries in Europe to live in. It offers an affordable lifestyle, a vibrant culture, and a warm, welcoming atmosphere. The cost of living is very low, especially in cities like Belgrade and Novi Sad, where housing and food are inexpensive. Monthly expenses average around $600 to $1,000, and this low-cost budget will allow you to enjoy its rich history, diverse culinary scene, and lively music festivals.

The country’s unique blend of Eastern and Western influences creates a dynamic environment, making it an exciting place for travelers. Additionally, Serbia’s fast-developing infrastructure and expanding job market, particularly in tech and creative industries, offer promising opportunities for those looking to live and work here.

While English is widely spoken in urban areas, learning the local language, Serbian, can improve your experience and connections in the country.

 10. Latvia

Cheapest cities: Daugavpils, Jūrmala, Liepāja

Latvia is also one of the cheapest European countries, and it attracts expats with its low cost of living and rich cultural heritage. The capital, Riga, beautifully combines modern living with historic charm and a low monthly budget of about $700 to $1,000.

Latvia is known for its stunning nature, including lush forests and beautiful coastlines, as well as a vibrant arts and music scene. The job market is growing for professionals seeking career opportunities in Latvia, particularly in the tech and finance sectors. Latvia’s affordability, natural beauty, and dynamic culture make it a standout option among European countries for those seeking a new home. Fortunately, there is a possibility of moving to the country through the Latvia Golden Visa with a minimum investment of just €50,000.