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Monthly Cost of Living

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Cheapest Countries to Live in 2024

Snapshot

  • A country's cost of living is determined by comparing local prices of basic goods and services to those in a baseline location, such as New York City; however, methodologies vary among organizations.

  • Three countries that appear on all three different organizations’ lists of the least expensive countries to live in are Egypt, Nepal, and India.

The cost of living is the amount of money needed to sustain a certain comfort level in a location. The cost of living covers such basics as housing, groceries, taxes, and healthcare. Some countries have a very high cost of living, particularly in areas surrounding large cities.

For example, in the United States, cities like New York and San Francisco have a very high cost of living, while such areas as rural Mississippi, Kansas, or Oklahoma may be notably more affordable. Some nations have a very low cost of living, which can make them attractive destinations for expats, retirees, and others interested in reducing their expenses.

As a rule, cost of living computations start by recording the cost of various needs, from rent/mortgage and health care to a loaf of bread, in a given city. Those costs are then compared to the price of the same necessities in a baseline location, such as New York City, U.S.A. or Prague in the Czech Republic. Finally, the numbers for each region in a given country are averaged to enable nation-to-nation comparisons.

Every source adds its own spin on the math, which results in slightly different lists. The table below presents a full list of the countries and their scores. To explore the opposite end of the spectrum, take a look at the most expensive countries to live in.

Top 10 Cheapest Countries to Live In (New York City, USA = 100%) - Numbeo

Country
CoL plus Rent (Numbeo)
Pakistan10.70
Egypt13.10
India14.60
Libya14.90
Bangladesh15.10
Syria15.20
Nepal15.30
Tunisia16.70
Algeria16.90
Somalia17.60

Top 10 Cheapest Countries to Live In (per month US$) - Living Cost

Country
Monthly Cost of Living
Afghanistan$354
Pakistan$370
India$423
Tunisia$424
Sri Lanka$428
Kyrgyzstan$430
Algeria$431
Syria$435
Nepal$439
Turkey$447

Source

The data and analysis methodologies used by the three organizations—Living Cost, Numbeo, and Global Economy—vary by year collected, factors analyzed, calculation equation used, and countries included.

Download Table Data

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Country
Monthly Cost of Living
CoL plus Rent (Numbeo)
Afghanistan$354
Pakistan$37010.70
India$42314.60
Tunisia$42416.70
Sri Lanka$42820.80
Kyrgyzstan$43021
Algeria$43116.90
Syria$43515.20
Nepal$43915.30
Turkey$44718.20
Egypt$44913.10
Tajikistan$450
Kazakhstan$46825.40
Argentina$49419.30
Belarus$50423.40
Kiribati$511
Azerbaijan$51320
Sudan$517
South Sudan$519
Gambia$520
Bangladesh$52115.10
Uzbekistan$52919.40
Papua New Guinea$530
Haiti$531
Moldova$53723.10
Central African Republic$538
Eritrea$538
Georgia$53830.50
Chad$540
Ukraine$54220.50
Liberia$544
Paraguay$54619.90
Indonesia$54820.50
Djibouti$548
North Macedonia$55319.80
Madagascar$555
Yemen$55934.10
Mali$560
Burundi$560
Libya$56014.90
Bhutan$569
Ethiopia$57430.30
Colombia$57418.30
Nauru$584
Gabon$587
Comoros$589
Armenia$59234.20
Bosnia and Herzegovina$599
Brazil$60123.90
Philippines$60123.10
Mongolia$60322.40
Uganda$60420.30
Albania$60825.70
Tuvalu$608
Peru$63022.60
Rwanda$633
Nicaragua$63322.30
Vietnam$63923.20
Morocco$64419.40
Mauritius$65126.80
Malaysia$65221.30
Romania$65224.80
Kenya$65418.50
Bulgaria$65425.70
Russia$65621.30
Venezuela$65725
Malawi$666
Botswana$66620
Iran$66820.10
Togo$669
Zambia$676
Mexico$67829.10
Cameroon$68830.20
Cambodia$69227.50
Lesotho$694
Ghana$70124.40
Iraq$71021.30
Dominican Republic$71128.20
Serbia$71127.90
Eswatini$711
Guinea Bissau$712
Suriname$714
Montenegro$72029.70
Benin$731
Sierra Leone$745
DR Congo$748
Bolivia$75020
China$75226.60
Ecuador$75622.30
Tanzania$76019.40
Honduras$76524.60
Fiji$77325.60
Mauritania$781
Cape Verde$797
Burkina Faso$799
Guyana$80330.50
Somalia$81117.60
El Salvador$81629.10
Hungary$81731.20
Jamaica$82935.20
Thailand$83126.20
Jordan$85027.60
Costa Rica$85235.30
Dominica$856
Guatemala$85726.70
Myanmar$86425.80
Lithuania$86934.30
Guinea$877
Cuba$88036.20
Sao Tome and Principe$880
Poland$88232.30
Laos$888
Belize$88931.20
Angola$896
Chile$90531.60
Nigeria$91620
Namibia$92121.50
Uruguay$92939.70
Zimbabwe$93525.60
Palestine$93727.70
Latvia$93832
Niger$950
Saudi Arabia$95231.90
South Africa$97423.80
Trinidad and Tobago$979
Slovakia$99032
Croatia$1,00130.90
Mozambique$1,006
Greece$1,00834
Ivory Coast$1,01030.50
Czech Republic$1,01436.80
Tonga$1,035
Portugal$1,03834.60
Estonia$1,04037
Palau$1,040
Taiwan$1,05734.90
Oman$1,08633.10
Panama$1,09235.10
Samoa$1,109
Grenada$1,128
Turkmenistan$1,141
Senegal$1,14434.70
Saint Kitts and Nevis$1,145
Brunei$1,15236
Saint Lucia$1,153
South Korea$1,15444.50
Bahrain$1,16540.50
San Marino$1,168
Slovenia$1,17535.50
Equatorial Guinea$1,185
Solomon Islands$1,222
Curacao$1,222
Andorra$1,232
Barbados$1,25853.80
Spain$1,26036.10
Cyprus$1,26644.40
Maldives$1,28839.90
Kuwait$1,32636.30
Italy$1,35941.30
Japan$1,37036.90
Lebanon$1,41136.10
Germany$1,41446.50
Marshall Islands$1,464
Antigua and Barbuda$1,465
Belgium$1,49545.20
Sweden$1,51542
France$1,51947.40
Malta$1,51943.70
Finland$1,53646.80
North Korea$1,540
United Arab Emirates$1,57646.80
Austria$1,61747.20
Canada$1,70151.70
Bahamas$1,71568.50
Seychelles$1,725
Israel$1,77450.10
Netherlands$1,77850.90
New Zealand$1,78251.50
Vanuatu$1,829
Denmark$1,83756.20
Qatar$1,85652.60
United Kingdom$1,92948.10
Australia$1,94458
United States$1,95161
Norway$2,07456.40
Luxembourg$2,16359.30
Singapore$2,16989.80
Iceland$2,20764.70
Liechtenstein$2,306
Ireland$2,31657.20
Switzerland$2,49785.60
Cayman Islands$2,84498.50
Monaco$3,743
Hong Kong67
Puerto Rico47.50
Macau49.60
Jersey69.60
Bermuda118.20
Guernsey60.50
showing: 199 rows

What are the cheapest countries to live in?

The three cheapest countries to live in are Egypt, Pakistan, and India.

Frequently Asked Questions

Sources