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Top 10 Least Expensive Countries in Europe

Cassidy is an author, a scientist, and a personal finance enthusiast.

Cost of living for a family of three in Europe

Cost of living for a family of three in Europe

Many people dream of retiring abroad and living out the rest of their lives somewhere nice with a lower cost of living. Cost of living is how much money it takes to reside in a location. If you move from a place with a high cost of living to a place with a lower cost of living, you can stretch your savings further and thus live more comfortably.

Europe is a popular tourist and retirement destination, and if you want your dollars to go further there, you should aim to go to the cheapest places. Here is a list of the top 10 least expensive countries in Europe.

Methodology

The cost of living heat map of Europe above is modified from one showing the entire world in an article published by Cozy Nest Egg, and the cost of living data for a family of three in each country is from that same article. The data on the cost of each category of expenses is from Expatistan. General country information is from Wikipedia.

All expenses are compared to costs in the US, where the average cost of living for a family of three is about $40,875.

Location of Romania in Europe

Location of Romania in Europe

10. Romania

Romania is located in Central and Eastern Europe and is the 12th-largest country on the continent. Its capital is Bucharest. In terms of terrain, it consists mostly of mountains, hills, and plains in equal measure.

47% of Romania consists of natural or semi-natural ecosystems, and it has one of Europe's largest areas of undisturbed forest. It has both a temperate and continental climate with an average high temperature of 82° F in the summer and an average low of 36° F in the winter.

Cost of Living Compared to the United States

  • Cost of living (family of three): $18,041
  • Food: 50% cheaper
  • Housing: 68% cheaper
  • Clothes: 7% more expensive
  • Transportation: 45% cheaper
  • Personal Care: 43% cheaper
  • Entertainment: 36% cheaper
Location of Serbia in Europe

Location of Serbia in Europe

9. Serbia

Serbia is located in Central and Southeast Europe. Its capital is Belgrade. It is a landlocked country consisting of plains in the north and east, mountains in the south, and hills and rivers in the center.

Serbia is considered to have a warm-humid continental or humid subtropical climate, with an average temperature of 72° F in the summer and 32° F in the winter.

Cost of Living Compared to the United States

  • Cost of living (family of three): $17,983
  • Food: 52% cheaper
  • Housing: 67% cheaper
  • Clothes: 13% more expensive
  • Transportation: 35% cheaper
  • Personal Care: 57% cheaper
  • Entertainment: 46% cheaper
Location of Bosnia and Herzegovina in Europe

Location of Bosnia and Herzegovina in Europe

8. Bosnia and Herzegovina

Bosnia and Herzegovina is located in South and Southeast Europe. Its capital is Sarajevo. It is mostly landlocked except for a narrow coast on the Adriatic Sea. Bosnia is the inland northern region, and Herzegovina is the southern region.

The country consists of mountains in the east, south, and center; hills in the northwest; and flatland in the northeast. 50% of the country is forested. In terms of climate, Bosnia has a moderate continental climate with hot summers and cold, snowy winters. Herzegovina has a more Mediterranean climate.

Cost of Living Compared to the United States

  • Cost of living (family of three): $16,819
  • Food: 51% cheaper
  • Housing: 74% cheaper
  • Clothes: 22% more expensive
  • Transportation: 35% cheaper
  • Personal Care: 62% cheaper
  • Entertainment: 54% cheaper
Location of Russia

Location of Russia

7. Russia

Russia is the largest country in the world and spans across Eastern Europe and Northern Asia. Its capital is Moscow, which is the largest city in Europe. It has a coast along three oceans and also includes islands and archipelagos.

Russia has over 100,000 rivers, and its lakes contain about one-quarter of the world's liquid freshwater. Most of the country has a humid continental climate, but Northwest Russia and Siberia have a subarctic climate. Most of the country has only two distinct seasons: winter and summer.

Cost of Living Compared to the United States

  • Cost of living (family of three): $15,711
  • Food: 61% cheaper
  • Housing: 64% cheaper
  • Clothes: 2% cheaper
  • Transportation: 51% cheaper
  • Personal Care: 60% cheaper
  • Entertainment: 44% cheaper
Location of Moldova in Europe

Location of Moldova in Europe

6. Moldova

Moldova is located in Eastern Europe. Its capital is Chișinău. It is a landlocked country consisting mostly of hills with a small flatland in the south.

Moldova has a moderately continental climate, with summer temperatures averaging 68° F and winter temperatures averaging around 25° F.

Cost of Living Compared to the United States

  • Cost of living (family of three): $15,147
  • Food: 58% cheaper
  • Housing: 74% cheaper
  • Clothes: 9% cheaper
  • Transportation: 62% cheaper
  • Personal Care: 53% cheaper
  • Entertainment: 49% cheaper
Location of North Macedonia in Europe

Location of North Macedonia in Europe

5. North Macedonia

North Macedonia is located in Southeast Europe. Its capital is Skopje. It is a landlocked country consisting of a central valley formed by the Vardar river surrounded by mountain ranges along its borders.

North Macedonia has three climatic zones: mildly continental in the north, temperate Mediterranean in the south, and mountainous at high altitudes. The temperature ranges from -4° F in the winter to 104° F in the summer.

Cost of Living Compared to the United States

  • Cost of living (family of three): $15,033
  • Food: 51% cheaper
  • Housing: 74% cheaper
  • Clothes: 1% cheaper
  • Transportation: 48% cheaper
  • Personal Care: 62% cheaper
  • Entertainment: 45% cheaper
Location of Belarus in Europe

Location of Belarus in Europe

4. Belarus

Belarus is located in Eastern Europe. Its capital is Minsk. It is a landlocked country that is mostly flat with large areas of marshy land. About 40% of the country is forested.

In terms of climate, Belarus is situated in the zone between continental and maritime, with temperatures ranging from a low of 25° F in the winter to an average of 64° F in the summer.

Cost of Living Compared to the United States

  • Cost of living (family of three): $14,590
  • Food: 61% cheaper
  • Housing: 71% cheaper
  • Clothes: 15% cheaper
  • Transportation: 61% cheaper
  • Personal Care: 66% cheaper
  • Entertainment: 45% cheaper
Location of Kosovo in Europe

Location of Kosovo in Europe

3. Kosovo

Kosovo is a disputed country recognized by 98 out of the 193 member states of the United Nations but claimed by Serbia. It is located in Southeastern Europe. Its capital is Pristina.

Kosovo is a landlocked country consisting of two major plains surrounded by mountains along most of the borders. it has a continental climate with Mediterranean and alpine influences, with temperatures ranging from 67° F in the summer to 30° F in the winter.

Cost of Living Compared to the United States

  • Cost of living (family of three): $13,975
  • Food: 54% cheaper
  • Housing: 72% cheaper
  • Clothes: 0% cheaper
  • Transportation: 42% cheaper
  • Personal Care: 54% cheaper
  • Entertainment: 57% cheaper
Location of Ukraine in Europe

Location of Ukraine in Europe

2. Ukraine

Ukraine is located in Eastern Europe and is the second-largest country in Europe. Its capital is Kyiv. It is the poorest country in Europe along with Moldova.

It consists mostly of fertile plains and plateaus crossed by rivers and is one of the largest grain exporters in the world. In terms of climate, Ukraine is mostly temperate, with average temperatures around 42° F in the north and 52° F in the south.

Cost of Living Compared to the United States

  • Cost of living (family of three): $13,882
  • Food: 63% cheaper
  • Housing: 70% cheaper
  • Clothes: 10% more expensive
  • Transportation: 52% cheaper
  • Personal Care: 66% cheaper
  • Entertainment: 60% cheaper
Location of Turkey in Europe

Location of Turkey in Europe

1. Turkey

Turkey is a transcontinental country located between Western Asia and Southeast Europe. Its capital is Ankara, and its largest city is Istanbul. It has the 12th largest economy in the world by nominal GDP.

Turkey is encircled by seas on three sides and consists of general of a plateau that becomes increasingly rugged as you progress eastward. Depending on where you are in the country, it has a temperate Mediterranean climate, a temperate oceanic climate, or a continental climate. Temperatures range from an average of about 77° F in the summer to about 40° F in the winter, though on the plateau, it can get as cold as -40° F.

Cost of Living Compared to the United States

  • Cost of living (family of three): $13,825
  • Food: 66% cheaper
  • Housing: 79% cheaper
  • Clothes: 43% cheaper
  • Transportation: 35% cheaper
  • Personal Care: 63% cheaper
  • Entertainment: 56% cheaper

This content was accurate and true to the best of the author’s knowledge at the time of publication but may be out of date. The information contained in this article may not reflect current policies, laws, technology, or data.

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