Yahoo Finance The Living Wage a Couple Needs To Live in Europe’s Most Popular Cities
The cost of living is creeping up in the U.S., and inflation has been dealing quite a blow. Last September, consumer prices were up 3.7% from a year prior. The reality of just how expensive it is to live in the U.S. today gets even more drastic when considering how much more affordable cities in other countries may be.
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Here’s a look at the living wage a couple needs to live in Europe’s 10 most popular cities. Some of them are great to consider if you’re on a tight budget and both willing and able to move abroad and live the expat life.
Minsk, Belarus
Population Estimate: 1,742,124
Expenditures Without Rent: $917
Rent for 1-Bedroom: $314
Total Costs: $1,231
Living Wage: $2,462
One of Minsk’s most desirable features is its affordability in the rent department: just $314 a month. To put that into perspective, consider that rent here is 90.9% lower than in New York City, according to Numbeo.
The capital of Belarus, Minsk is also one of the oldest cities in Europe and is a major industrial hub.
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Bucharest, Romania
Population Estimate: 1,877,155
Expenditures Without Rent: $1,363
Rent for 1-Bedroom: $471
Total Costs: $1,834
Living Wage: $3,669
Based on its charms, including gorgeous architecture, Bucharest has been dubbed “Little Paris.” The great news here is that though it has similarities to the City of Light, it’s remarkably more affordable, especially in the area of rent. A one-bedroom apartment will set you back just $471 a month.
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Paris
Population Estimate: 2,138,551
Expenditures Without Rent: $2,350
Rent for 1-Bedroom: $1,247
Total Costs: $3,597
Living Wage: $7,194
Paris isn’t only a hot spot for tourists looking to get their picture taken with the Eiffel Tower — it’s also a highly sought-after city to live in, boasting over 2 million residents. The bad news is that the popularity of this city is reflected in its price. A couple will spend over $3,500 per month to get by here.
Rome
Population Estimate: 2,318,895
Expenditures Without Rent: $1,903
Rent for 1-Bedroom: $977
Total Costs: $2,880
Living Wage: $5,761
It isn’t called Rome because it’s so romantic, but it certainly could be. Home to Vatican City, Rome sports remarkable ancient ruins and pretty much the best pizza you can find. Rent is somewhat reasonable here — just about 70% cheaper than in New York City, according to Numbeo.
Kiev, Ukraine
Population Estimate: 2,797,553
Expenditures Without Rent: $1,022
Rent for 1-Bedroom: $399
Total Costs: $1,422
Living Wage: $2,843
By no means is this a good time for residents of Kiev, which has been under siege by Russian forces since 2022. Given the hostility of the region, it may be surprising to learn that a couple needs a wage of nearly $3,000 a month to dwell in Ukraine’s capital city.
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Madrid
Population Estimate: 3,255,944
Expenditures Without Rent: $1,592
Rent for 1-Bedroom: $1,109
Total Costs: $2,701
Living Wage: $5,402
Another booming hub for tourists, Madrid features one of largest expat communities in Europe. But as with Paris, the popularity of this happening city comes at a price: Couples will spend over $2,700 a month to get by here, and rent is notably high.
Berlin
Population Estimate: 3,426,354
Expenditures Without Rent: $2,203
Rent for 1-Bedroom: $1,243
Total Costs: $3,446
Living Wage: $6,893
Another happening hub for American expats, who may be drawn to the city because of its lower cost of living compared to the U.S., Berlin is a beautifully diverse city. Though you may find it to be cheaper than wherever you live in the states, it’s still not a cheap city, with a couple needing a wage of nearly $7,000 a month to dwell comfortably here.
St. Petersburg, Russia
Population Estimate: 5,028,000
Expenditures Without Rent: $1,015
Rent for 1-Bedroom: $403
Total Costs: $1,418
Living Wage: $2,836
The massive city, also known as The City of White Nights because the sun doesn’t fully set in the summer, St. Petersburg is a fairly reasonably-priced location, with rent being especially cheap at just a touch over $400 a month for a one-bedroom.
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London
Population Estimate: 7,556,900
Expenditures Without Rent: $2,775
Rent for 1-Bedroom: $2,478
Total Costs: $5,253
Living Wage: $10,506.04
London is one of the biggest cities in the world — bigger even than New York City. It’s also very in-demand and experiencing a housing shortage. Hence, it’s very expensive to live here. A couple will spend about $5,253 a month to do so.
Moscow
Population Estimate: 10,381,222
Expenditures Without Rent: $1,130
Rent for 1-Bedroom: $626
Total Costs: $1,755
Living Wage: $3,511
It may take you by surprise to find out that Moscow is the most populated city in Europe, with over ten million residents. It’s not a totally unaffordable place to live; a couple needs $3,511 a month to get by, and rent is notably low. That said, this can be a tough city for American expats to acclimate to, both because of its tough bureaucracy and how wildly different the Russian language is from English.
Methodology: In order to find the living wage a couple needs to live in Europe’s most popular cities, GOBankingRates found the top 100 cities in Europe by population as sourced from WorldPopulationReview for 2023 populations. For each city on the list, GOBankingRates found cost of living across multiple expenditure categories, including rent, groceries, healthcare, transportation, etc., as sourced from Numbeo’s Cost of Living index. In order to qualify for the study, each city had to have all the data available for comparisons. The quality of life index and the safety index were both sourced for each city from Numbeo’s Quality of Life index. The rent for a one bedroom apartment is combined with the average expenditure costs for one person to find the average monthly total cost. In following the 50/30/20 rule that states 50% of your income should be devoted to needs, the living wage a person needs to live in each city can be calculated by doubling the average monthly total costs. The average monthly rental cost, average monthly expenditure costs and overall quality of life index were scored and combined to show the cities with the lowest costs and highest quality. All data was collected and is up to date as of Dec. 21, 2023.
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