If you had the chance to find happiness and make your dreams come true, would you take it?
If you’re feeling stuck in a rut, you’re not alone. Many people feel this way and it may be because of their location and environment. You may have ended up in a city you weren’t planning to settle in while your dreams were somewhere else. There are many cheap and nice places to live all over the world, and if money has been an issue, it’s worth checking out the most affordable cities.
It may take a little work, but if you have a checklist of what you’re looking for to make your dreams come true, it is definitely possible to find a match.
What Makes For An Affordable City?
Depending on your situation, there are various factors to consider when looking at how to make your money stretch farther. You’ll want to look at things like:
- Median home list price – the median price for homes in the city and metro area
- The Median Home sale price – same thing but to see what the median costs are for homes
- Median rent – if this is your plan this will be something at the top of the list of considerations
- Gas prices – looking at the cost of gas per liter or gallon will give you some insights into the cities affordability
- Transit passes – if you don’t have a vehicle you’ll want to see how much your commute will set you back
- Average property tax – you can compare this to the national average to see how much you would save or lose
- Utility costs
- Food & entertainment
- Cost of living index – If you come across this stat for a city you want to look for places ranked below 100 as this means they are more affordable. When they get up above 100, you’re looking at many more expenses than the average city
With that in mind, let’s look at the 7 best and most affordable cities if you’re looking to make your dreams a reality.
1. Memphis, Tennessee
If you’re looking for that true American experience, you can find it in Memphis. Everyone knows it as a heartland of music, the birthplace of Elvis, great scenery but also inexpensive. Memphis is one of the best locations for millennials looking to save money and considered one of the best cities in America for renters.
2. Lima, Peru
One of the least expensive places in Latin America, Lima, and Peru gives you amazing value and vistas. You get the ocean or the jungle and live a slower-paced lifestyle. Cost wise, you can find upscale apartments for around $800 and many people there can live for under $1000 a month.
You can even find live in cooks to prepare your meals for around $500 a month.
3. Chiang Mai, Thailand
More and more people are moving to Thailand for a better life and climate. Chiang Mai has become a new hotspot for retirees, or people who can run their own business remotely. Your money will go a lot further here giving you the chance to live a more opulent lifestyle.
You can eat at Michelin starred restaurants for under $50 and play golf at a high-end course for only $5. Thailand can be a paradise for food, location, and lifestyle.
4. Cochabamba, Bolivia
If you’re looking for perfect dry and warm weather, this is your spot. Bolivia is another one of those countries that gives you a big bang for your buck. You will find there is affordable health care and rent is only around $500.
Properties for $500 a month in Bolivia can be compared to ones that would run you around $2000 in America. You get that slower paced dream lifestyle in one of the most affordable cities in an affordable country.
5. Santo Domingo, Dominican Republic
This is a dream location for many people and a popular vacation destination – so imagine what it’s like to live here. You get a city with lively streets, but old European charm. What makes this city one of the most affordable is that a couple can only expect to spend around $1400 a month and that includes rent and food.
Despite its old world charm, you will also find modern conveniences such as shopping malls and movie theatres giving you the best of both worlds.
6. Saint-Chinian, France
This place has been considered to be right out of Beauty and the Beast.This area is in the south of France which is usually expensive but appears to be the exception. This is a friendly area that is also a wine lover’s dream.
You’ll be getting this magical lifestyle but it won’t break the bank as a couple may only spend around $1600 a month. This is a place with great, and affordable public transportation so you’ll save money as a vehicle isn’t a necessity.
7. Abruzzo, Italy
If you’ve dreamed about that Italian lifestyle, Abruzzo may be just what you’re looking for. It’s on the Adriatic coastline putting your right into that dream Italian landscape. You’ll find rolling vineyards, beachside cafes, mountains, and a lot of history.
It’s considered one of Italy’s best-kept secrets but a place where the cost of living is a fraction of other Italian cities. A couple can expect to live comfortably on only $1400 a month making this a dream location. Abruzzo is definitely one of the most affordable, and best cities to live.
As you can see here, living in a dream location can be possible. Not only are these places somewhere you would want to go visit but living there is a real possibility. Some of these cities may be cheaper than where you live now but come with some amazing bonuses.