Thinking about packing up and starting over somewhere new but not sure where you can actually afford to do it? Here are 21 countries where Americans can stretch their dollars and find a fresh start, complete with visa options and financial perks.
1. Mexico: Proximity And Affordability
Mexico remains one of the most popular destinations for Americans seeking a new life abroad, not only because of its proximity but also for its low cost of living. In 2024, the average rent for a one-bedroom apartment in Mexico City is around $450, while groceries and dining out are approximately 50% cheaper than in the U.S. The Temporary Resident Visa allows Americans to stay in Mexico for up to four years and requires proof of $2,100 in monthly income or savings of $36,000, making it a relatively accessible option for expats.
2. Portugal: A Laid-Back Lifestyle
Portugal continues to attract expats with its mix of Mediterranean climate, beautiful coastlines, and affordability. In 2024, the cost of living remains relatively low, with rent for a one-bedroom apartment in Lisbon averaging around $800. The D7 Visa is particularly appealing to retirees and digital nomads, requiring proof of passive income or savings equivalent to Portugal’s minimum wage — €8,460 annually. Portugal’s healthcare system is ranked 12th globally by the World Health Organization, adding to its appeal for those looking for a safe and affordable place to retire.
3. Thailand: Low Costs And Tropical Beauty
Thailand offers an incredibly low cost of living, particularly in smaller cities and rural areas. In 2024, rent for a one-bedroom apartment in Chiang Mai averages $300, while a meal at a local restaurant costs around $2. The country’s Retirement Visa, available to those over 50, requires proof of 800,000 Thai Baht (about $24,000) in a Thai bank account or a monthly income of at least 65,000 Baht ($1,950). With some of the best street food in the world and affordable healthcare, Thailand is a top choice for retirees looking to stretch their savings.
4. Costa Rica: Pura Vida And Peace Of Mind
Costa Rica’s “Pura Vida” lifestyle continues to attract expats seeking peace, natural beauty, and affordability. In 2024, rent for a one-bedroom apartment in San José averages around $600, while groceries are around 40% cheaper than in the U.S. The country’s Rentista Visa requires proof of $2,500 in monthly income or a $60,000 deposit in a Costa Rican bank. With Costa Rica’s universal healthcare system (Caja), expats can access high-quality medical care at a fraction of U.S. costs, which adds to its appeal as a retirement destination.
5. Colombia: Budget-Friendly And Beautiful
Colombia has become a favorite among American expats due to its incredibly low cost of living and vibrant culture. In 2024, Medellín—dubbed the “City of Eternal Spring”—offers one-bedroom apartments for as low as $400 per month. The M-11 Retirement Visa is accessible for retirees receiving at least three times the minimum wage, which translates to about $750 per month. Colombia’s healthcare system is ranked 22nd globally, and expats can opt into the public health insurance system (EPS) for a minimal monthly fee.
6. Spain: Affordable Mediterranean Living
Spain continues to be a top destination for expats looking for an affordable European lifestyle. In 2024, rent for a one-bedroom apartment in Madrid averages $1,100, but smaller towns and rural areas offer much cheaper options, with rents as low as $500. Spain’s Non-Lucrative Visa requires proof of €27,000 annually in savings or passive income, making it ideal for retirees or those with remote income sources. Spain’s universal healthcare system is considered one of the best in Europe, adding to the country’s allure for expats looking for both affordability and quality of life.
7. Vietnam: Budget Heaven In Southeast Asia
Vietnam offers some of the lowest living costs in Asia, with rent in Hanoi and Ho Chi Minh City averaging $400 per month for a one-bedroom apartment in 2024. Food is equally affordable, with a bowl of pho costing as little as $1.50. While Vietnam doesn’t offer a formal retirement visa, many expats stay on tourist visas that are renewable every 90 days or opt for a long-term business visa. Vietnam’s private healthcare system is also affordable, with many expats opting for international insurance plans that cover treatment at high-quality facilities.
8. Panama: Easy Access And Tax Perks
Panama’s Pensionado Program is still one of the world’s most generous retirement visas, available to those with a monthly income of at least $1,000 from a pension or annuity. In 2024, the cost of living in Panama City remains affordable, with rent for a one-bedroom apartment averaging $1,000. The country’s territorial tax system means foreign-earned income isn’t taxed, which can be a significant advantage for expats living on Social Security or foreign investments. Panama also offers discounted healthcare and entertainment for Pensionado visa holders, further enhancing its appeal.
9. Ecuador: Low Costs And High Altitude
Ecuador continues to offer one of the lowest living costs in South America. In 2024, rent for a one-bedroom apartment in Quito averages just $350, and the cost of groceries and dining out is approximately 40% lower than in the U.S. The country’s Pensioner Visa requires proof of a monthly pension of at least $425, making Ecuador one of the most affordable countries for retirees. Ecuador also offers free healthcare to residents over 65, significantly reducing retirees’ medical expenses.
10. Malaysia: Modern Comforts At A Fraction Of The Cost
Malaysia’s Malaysia My Second Home (MM2H) program continues to be a favorite for expats, particularly retirees. In 2024, the program requires proof of about $2,500 in monthly income, along with a fixed deposit in a Malaysian bank. Kuala Lumpur offers a mix of modern amenities at affordable prices, with rent for a one-bedroom apartment averaging $550 per month. Malaysia’s healthcare system ranks well globally, and it offers medical services at a fraction of U.S. costs, making it a solid choice for retirees looking for both affordability and quality.
11. Uruguay: Stability And Simplicity
Uruguay offers a stable economy, democratic governance, and a peaceful lifestyle, making it a top choice for expats. In 2024, rent for a one-bedroom apartment in Montevideo averages $600, and groceries are about 30% cheaper than in the U.S. The country’s Residency Visa requires proof of a stable monthly income, typically around $1,500. Uruguay’s public healthcare system is also accessible and affordable, with many expats opting for private health insurance that costs significantly less than in the U.S.
12. Belize: English-Speaking And Affordable
Belize, with its Caribbean beauty and English-speaking population, remains a popular destination for American retirees. In 2024, the Qualified Retired Persons (QRP) program allows Americans over 45 to retire in Belize with proof of $2,000 in monthly income. Rent for a one-bedroom apartment in Belize City averages around $700, and the cost of living is generally lower than in the U.S. Belize also offers the advantage of a simple residency process and a laid-back lifestyle.
13. Georgia: Low Costs And Easy Visas
The Republic of Georgia continues to be a hidden gem for expats, offering some of the easiest visa options for Americans. In 2024, the cost of living remains incredibly low, with rent in Tbilisi averaging around $400 per month. Americans can stay in Georgia for up to one year without a visa, and long-term residency is available for those with proof of income or investment. Georgia’s healthcare system is affordable, and many expats opt for private insurance, which covers services at high-quality hospitals.
14. Greece: Mediterranean Charm On A Budget
Greece’s new Digital Nomad Visa continues to attract remote workers looking for an affordable Mediterranean lifestyle. In 2024, rent in smaller Greek towns or on less touristy islands averages around $500 per month, while Athens remains more expensive. The visa allows Americans to stay for up to two years, provided they have proof of sufficient income, typically around €3,500 per month. Greece’s public healthcare system is available to residents, but many expats opt for private healthcare, which remains more affordable than in the U.S.
15. Dominican Republic: Accessible And Affordable
The Dominican Republic remains a top choice for Americans seeking affordable Caribbean living. In 2024, rent for a one-bedroom apartment in Santo Domingo averages around $600, and the cost of living is generally lower than in the U.S. The country’s Pensionado Visa requires proof of $1,500 in monthly income, which grants retirees residency and access to the public healthcare system. The Dominican Republic’s proximity to the U.S. and its growing expat community make it an attractive option for those seeking a fresh start in the Caribbean.
16. Nicaragua: Hidden Gem Of Central America
Nicaragua offers one of the lowest costs of living in Central America, making it an appealing destination for budget-conscious expats. In 2024, rent for a one-bedroom apartment in Granada averages around $300, and the cost of groceries is about 50% lower than in the U.S. The country’s Pensionado Visa is available to those with proof of just $600 in monthly income, making it one of the most accessible retirement visas in the region. Nicaragua also offers affordable private healthcare, with many expats opting for international insurance plans.
17. Croatia: Coastal Living Without The Price Tag
Croatia offers a stunning Adriatic coastline and relatively low costs, especially outside of the major tourist areas. In 2024, rent in smaller coastal towns averages around $500 per month, while Split and Dubrovnik remain more expensive. Croatia’s Temporary Stay Visa allows Americans to live in the country for up to one year, provided they can show proof of income or savings. Croatia’s public healthcare system is accessible to residents, but many expats opt for private healthcare, which remains more affordable than in other European countries.
18. Argentina: European Vibes On A Budget
Argentina offers a European lifestyle at South American prices, making it a popular destination for expats. In 2024, rent for a one-bedroom apartment in Buenos Aires averages $350, and the cost of living is about 60% lower than in the U.S. The country’s Pensionado Visa requires proof of at least $800 in monthly income, making it accessible to many American retirees. Argentina’s healthcare system is affordable and offers both public and private options, with many expats opting for private insurance that covers treatment at high-quality facilities.
19. Philippines: Tropical Living With Low Costs
The Philippines continues to attract expats with its low cost of living and tropical lifestyle. In 2024, rent for a one-bedroom apartment in Manila averages around $400, and groceries are significantly cheaper than in the U.S. The country’s Special Resident Retiree’s Visa (SRRV) is available to Americans over 50, with a requirement of either a $10,000 deposit in a Philippine bank or proof of $1,500 in monthly income. The Philippines also offers affordable healthcare, with many expats choosing private insurance to cover medical expenses at top hospitals.
20. Turkey: East Meets West Affordably
Turkey’s rich culture, low cost of living, and strategic location between Europe and Asia continue to attract expats. In 2024, rent for a one-bedroom apartment in Istanbul averages $500, and the cost of living is generally lower than in Western Europe. The country’s long-term Residence Permit requires proof of sufficient income, typically interpreted as around $500 per month. Turkey’s healthcare system is affordable, with many expats opting for private insurance that covers treatment at high-quality hospitals across the country.
21. Cambodia: Low Costs And A Laid-Back Lifestyle
Cambodia offers some of the lowest living costs in Asia, with rent in Phnom Penh averaging $300 per month in 2024. The cost of dining out is also incredibly low, with meals at local restaurants costing as little as $2. Cambodia doesn’t offer a formal retirement visa, but Americans can stay long-term by renewing their visas every 12 months. Cambodia’s private healthcare system is affordable, and many expats opt for international insurance plans that cover treatment at hospitals in neighboring Thailand or Vietnam.
Ready For Your Fresh Start?
Starting over doesn’t have to break the bank. These 21 countries offer affordable living, visa options, and the chance to reinvent yourself. So, why not make the move?
Featured Image Credit: Shutterstock / Ververidis Vasilis.
The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
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For transparency, this content was partly developed with AI assistance and carefully curated by an experienced editor to be informative and ensure accuracy.
