5 Places To Live in Europe That Are So Cheap You Could Quit Your Job

Juergen Sack / Getty Images/iStockphoto

Juergen Sack / Getty Images/iStockphoto

The cost of living in the US has been increasing in the past few months due to inflation and rising rates. So it’s no wonder some Americans are looking for greener (and cheaper) pastures overseas, and many are setting their eyes on the Old Continent.

While living in Europe can be very pricey in some instances, some destinations on the other hand have such a low cost of living — as well as cheaper healthcare and housing — they can enable you to quit your job.

If you have sufficient savings and are ready for a change of scenery, here are some of these places in Europe.

Montenegro

In terms of cost of living, Montenegro is currently 65% ​​less expensive than in the US at $775, compared to $2,213. It is also ranked 113th vs. 5th for the United States in the list of the most expensive countries in the world, according to LivingCost.org. In addition, rent in Montenegro is 67% cheaper than in the US, according to Numbeo.

And, it also has a very low tax rate, making it even more appealing, according to Worldpackers.com.

The country, which borders Croatia, Bosnia, Serbia, Albania and Kosovo, is “so small you could drive across it in an afternoon,” according to Montenegro. travel.

Yet, for such a small country, it has a very diversified landscape, ranging from stunning beaches to mountains and lakes. Some of the popular places include the Bay of Kotor, Lake Skadar National Park, Budva and the Adriatic coast.

Romania

The average cost of living in Romania — at $713 — is 68% less expensive than in the United States. The country ranks 125th in the list of the most expensive countries in the world, according to LivingCost.org. As for rents, they are a whopping 78.6% lower than in the US

The country borders Bulgaria, Moldova, Serbia and Hungary and has a coastline on the Black Sea. About one-third of the country consists of the Carpathian Mountains — also known as the Transylvanian Alps — which also have popular ski resorts such as Brasov, Sinaia and Predeal, according to RomaniaTourism.com

The country’s places of interest include its bustling capital, Bucharest, the medieval citadel of Sighisoara (where Dracula’s castle sits), the Black Sea with wide sandy beaches and, of course, the Danube River and Delta, which is a UNESCO Biosphere Reservation as well as a protected wetland and natural habitat for rare species of plants and animals, RomaniaTourism.com adds.

Portugal

The average cost of living in Portugal — at $1,073 — is 52% less expensive than in the US, according to LivingCost.org. And the rents are half as cheap as well, Nymbeo notes.

From bustling Lisbon and its trams to Porto and its centuries-old architecture, the country can be enchanted to many. It also has a mild climate, 3,000 hours of sunshine per year and miles of beaches on the Atlantic Ocean. Popular destinations include Porto, Lisbon and, if you’re into golf, the Algarve.

The Azores islands are also very enticing, with waterfalls, geysers and one of the largest whale sanctuaries in the world.

Hungary

The average cost of living in Hungary — at $860 — is 61% less expensive than in the United States. As for rents, they are 78% lower than in the US

Located in central Europe, Hungary is landlocked but is home to Lake Balaton, the largest in central Europe. Its capital, Budapest, is rich in history, architecture and culture.

The country is also known for being the “land of thermal spas” and also has approximately 1,500 mineral springs.

Malta

The average cost of living in Malta is a bit more expensive than the countries mentioned previously, but at an average of $1,340, it is still 39% less expensive than in the US, and rents in Malta are, on average, 42.8% lower than in the US

Malta has been attracting a lot of expats recently and it’s no wonder why with its crystal-clear turquoise waters and rich history.

The Maltese Archipelago is in the middle of the Mediterranean, and only the three largest islands — Malta, Gozo and Comino — are inhabited.

Malta’s capital Valletta, is a lively, bustling city. For history and archeology buffs, there are numerous forts to explore, as well as one of the world’s best-preserved prehistoric sites, the Hal Saflieni Hypogeum, a UNESCO World Heritage site.

This article originally appeared on GOBankingRates.com: 5 Places To Live in Europe That Are So Cheap You Could Quit Your Job