Cost of Living in Europe vs. the US – What You Need to Know
Thinking about retiring early in Europe? One of the biggest reasons people make the leap is simple: your money stretches further. But how much further, exactly? Let’s break down the key expenses — housing, healthcare, groceries, and more — to see if life in Europe could give you more for less. 🏡 Housing – More Charm, Less Cost Housing is usually the biggest expense, so let’s start there. In most major European cities, rent and home prices are significantly lower than in comparable US cities. - New York City vs. Paris – A one-bedroom apartment in NYC averages around $3.5k/month, while in Paris, you could find something similar for around $1.5k. - Los Angeles vs. Lisbon – Rent for a central Lisbon apartment averages around $1.2k/month — less than half the cost of a comparable place in LA. And if you’re open to small towns or countryside living, the savings are even bigger. In parts of Spain, Portugal, and Italy, you can rent a charming village house for under $1k/month. 🩺 Healthcare – High Quality at a Fraction of the Cost One of the biggest financial shocks for Americans moving to Europe is how affordable healthcare is. Most European countries offer universal healthcare, which means you’ll pay little to nothing for doctor visits and procedures. - A standard doctor’s visit in France: €25 (about $27). - Prescription medications are often subsidized or capped at low rates. - If you opt for private insurance, it’s usually around $150–$300/month — a far cry from US premiums. 👩🌾 🍽️ Groceries and Dining Out – Eat Well for Less Groceries in Europe tend to be cheaper, especially for fresh produce, bread, and local specialties. Plus, the culture of shopping at local markets means you’re eating higher-quality food at a lower price. - A loaf of fresh bread in France: €1–2 ($1–2) - A bottle of decent local wine in Spain: €5 ($5.50) - Dining out? A three-course meal at a mid-range restaurant in Italy: €20–30 ($22–33) — including wine! 🚂 Transportation – Ditch the Car, Take the Train