Mar 20 • General discussion
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
Public transportation in Europe isn’t just affordable — it’s reliable and extensive. You can easily live without a car in most European cities.
- Monthly metro pass in Paris: €84 ($92)
- High-speed train from Madrid to Barcelona: €40–70 ($44–77)
- In contrast, the average cost of car ownership in the US (payments, gas, insurance) is over $700/month.
🌡️ Utilities and Internet – Milder Climates, Lower Bills
Utility costs vary depending on the country and the type of housing, but overall, they’re often lower than in the US.
- Electricity, water, heating, and garbage for a 900 sq. ft. apartment in Lisbon: €100–150/month ($110–165)
- High-speed internet: around €30–50/month ($33–55)
Plus, in Southern Europe, mild winters mean you’re not cranking the heat like you would in the US Northeast.
💶 Taxes and Other Costs – The Trade-Off
Yes, taxes in Europe tend to be higher — but they often cover healthcare and social benefits that Americans pay for out of pocket. And tipping culture is different, too:
- Restaurant tips in most of Europe: 5–10% (if at all)
- Service charges are often included in the bill, so you’re not expected to tip like you would in the US.
🧮 Does It Add Up?
When you factor in lower housing, healthcare, and transportation costs, the savings in Europe can easily offset higher taxes and other expenses. That means you can live a comfortable, vibrant life — with plenty left over for travel and adventure.
Retiring early in Europe isn’t just about the lifestyle — it’s about making your money work harder for you. So, what’s stopping you? Let's go!
1
0 comments
Cost of Living in Europe vs. the US – What You Need to Know
skool.com/easily-retire-to-europe-9909
My love affair with France began years ago. From Paris to Provence, I’ll help make your European retirement dream a reality! More countries soon!
Powered by