Cheaper homes and a strong dollar are driving Americans to move abroad. Here are 6 cities around the world where you can live on $1,000 a month or less.
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- Americans are looking to move abroad as people seek more affordable lifestyles.
- A strong dollar and cheaper homes are leading many to consider making a move overseas.
- Insider has compiled a list of six cities where you can live for $1,000 or less per month.
This is an edited, translated version of an article that originally appeared on August 4, 2022.
More and more Americans are looking to take advantage of a strong dollar and cheaper homes abroad.
Insider has compiled a list of six cities where you can live comfortably for $1,000 a month, using data from the comparison website Numbeo, which provides a crowdsourced summary of the cost of living in major cities across the world.
The site provides the estimated monthly living costs, without rent, for a single person in each city, and it also calculates two prices for one-bedroom apartments — one for those in the city center and one for those on the outskirts.
It also has a separate index measuring quality of life, which it bases on a formula that takes into account a number of other indices — these include purchasing power, cost of living, pollution, healthcare, safety, climate, traffic-commute time, and house price-to-income ratio, the website said.
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Buenos Aires, Argentina
Buenos Aires, the capital of Argentina, offers incredible food, bustling nightlife, and countless cultural delights.
And it's also one of the cheapest places on the list, with an apartment in the city center and living expenses coming to about $730 per month.
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Santiago, Chile
Santiago offers incredible panoramas of the Andes, a cosmopolitan culture, and a relatively cheap cost of living, so it's no wonder that about 35% of the country's population lives in the capital.
It's also packed with museums and has two of Latin America's top-three universities.
In Santiago, $980 a month is enough to secure you an apartment in the center and cover your living costs, Numbeo said.
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Sofia, Bulgaria
Bulgaria is well known as a party destination, but the country has a lot more to offer, with beautiful cathedrals and churches; dramatic, mountainous surroundings; and an extensive history.
Numbeo indicated that the quality of life in Bulgaria's capital is comparable to that in Paris, but the cost of living is far cheaper in Sofia, with $990 a month being enough for an apartment near the center and living expenses.
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Bursa, Turkey
Bursa is Turkey's fourth-largest city, and it's often referred to as "green Bursa," in reference to its numerous parks and gardens.
The many sulfur springs surrounding the city and the famous Uludağ Mountains help make the city a great spot for nature lovers.
An apartment in the city center and living expenses would set you back $670 a month.
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Monterrey, Mexico
This beautiful city of a little over 1 million inhabitants beats out Paris and Milan in Numbeo's quality-of-life index.
It has gained a reputation as the most progressive city in the north of Mexico, and it's also an important industrial center.
A one-bedroom apartment outside the city center and living expenses would set you back around $940 per month. If you wanted an apartment in the center, it would cost you around $1,150 a month, including living expenses.
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Cape Town, South Africa
With its sparkling blue waters, great weather, and the iconic Table Mountain looming over the city, Cape Town is a truly spectacular place.
Here, you can get a one-bedroom apartment outside of the center and cover living expenses for just over $920 a month, Numbeo said. For those keen to be in the center of the city, you'll need about $1,140 a month for rent and living costs.
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