George R. Says:
I’m currently thinking about a possible move to Medellín, Colombia. I’m retired, single, and budgeting about $1,900 monthly. Could I find a place for about $600 to $800 monthly?
IL Executive Editor Jennifer Stevens Says:
Hi George,
One of the main benefits of living in Colombia is the low cost of living. And what’s more, it’s a low cost of living in a country that offers many of the first-world amenities and infrastructure you’d expect in a much more expensive location.
In fact, Colombia took first place in the cost of living category of our 2023 Annual Global Retirement Index. Read more about that here.
Your cost of living will depend on what type of lifestyle you want to have. Medellín is less expensive than many comparable U.S. cities. On average, living expenses are 60% to 70% less than the major U.S. cities of Boston, Los Angeles, or Chicago.
Rental prices in Medellín depend on where you choose to live.
For instance, an American expat living in Medellín’s upscale El Poblado neighborhood pays about $1,250 a month to rent a three-bedroom high-rise apartment; however, there is a very wide range of prices available throughout the city, beginning around $500.
Below is a sample monthly budget for a couple living in Medellín:
As you can see, you should be able to rent from between $400 and $1,000 per month, depending on where in the city you choose to live and the type of home you wish to live in.
The total budget of $1,394 to $1,994 fits with your limit of $1,900 per month.
Read more about life in Medellín on the dedicated page of our website here.
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