November 28, 2023

5 Most Affordable European Countries For Retiring In 2023


GOBankingRates used Numbeo’s mid-2023 statistics to find the European nations where monthly costs are less than $4,650, which is the price of a person living in a one-bedroom apartment in New York City. 

The analysis took into account both the cost of living index, where lower values imply more affordable living conditions and the safety index, where higher values suggest better safety. 

For comparison, the safety rating for New York City is 50.5, and the expense of living index is 100.


  • Safety index: 67.2
  • Cost of living index: 24.8
  • Total monthly cost of living expenditures: $1,153

Romania, a country in southeastern Europe, borders the Black Sea. There are hills, plains, forests, mountains, and affordable land. Romanians have a reputation for being hospitable and polite to Americans.


  • Safety index: 62.5
  • Cost of living index: 25.7
  • Total monthly cost of living expenditures: $1,195
Bulgaria Announces New Entry Restrictions and Travel Bans

Bulgaria, located in southeastern Europe on the eastern side of the Balkan Peninsula, is one of the most favorable countries in the European Union. Expats who spend 183 of the 365 days a year there are considered taxable residents. If you want to start a business in Bulgaria, you can take advantage of the country’s flat tax rate, which applies to both personal and business taxes.


  • Safety index: 61.5
  • Cost of living index: 27.9
  • Total monthly cost of living expenditures: $1,297

Montenegro and Croatia are Serbia’s neighbors to the southwest and northwest, respectively. The landscape consists of mountains and plains. The hospitable locals also speak fluent English.


  • Safety index: 63.1
  • Cost of living index: 29.7
  • Total monthly cost of living expenditures: $1,381

On Europe’s Adriatic coast, Montenegro, whose name translates as “black mountain,” is known for being less expensive than Croatia. It is also a paradise for outdoor enthusiasts. There are many mountains and numerous national parks where you can get lost.


  • Safety index: 73.9
  • Cost of living index: 30.9
  • Total monthly cost of living expenditures: $1,437

Croatia is a country in southeastern Europe, bordering Italy on the Adriatic Sea. Although the country has both a Mediterranean and a continental climate, the latter predominates with scorching summers and chilly winters.

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