Is Montenegro an Affordable Place to Live? A Cost of Living Comparison

Montenegro has been gaining popularity as a destination for expatriates, digital nomads, and retirees. With its stunning Adriatic coastline, charming medieval towns, and relatively simple residency requirements, it attracts people looking for an affordable yet beautiful place to live. But how does the cost of living in Montenegro compare to other countries? Let's explore real data and make a comparison with other European and global destinations.

Cost of Living in Montenegro

Here is a breakdown of common expenses in Montenegro (prices in EUR):

• Rent (1-bedroom apartment in city center): €400 - €700

• Rent (1-bedroom apartment outside city center): €250 - €500

• Monthly utilities (electricity, water, heating, cooling, garbage): €80 - €150

• Internet (high-speed): €20 - €40

• Public transportation monthly pass: €25 - €40

• Grocery bill for one person (monthly): €200 - €400

• Meal at an inexpensive restaurant: €6 - €12

• Three-course meal for two at a mid-range restaurant: €30 - €60

• Gym membership: €25 - €50

• Healthcare (private doctor visit): €30 - €60

Montenegro vs. Other Countries

Montenegro vs. Western Europe (Germany, France, UK)

• Rent in Montenegro is about 60-70% cheaper compared to major Western European cities like Berlin, Paris, or London.

• Restaurant prices are 50-60% lower in Montenegro.

• Utilities and transportation costs are significantly lower.

• Groceries are 30-50% cheaper compared to the UK or Germany.

Montenegro vs. Eastern Europe (Poland, Hungary, Romania)

• Rent in Montenegro is similar to or slightly lower than in Poland or Hungary but higher than in Romania.

• Utilities and groceries are on par with Poland and Hungary but slightly higher than in Romania.

• Restaurant prices are comparable to Poland and Hungary.

Montenegro vs. Balkans (Serbia, Bosnia, Albania, Croatia)

• Rent is cheaper than Croatia, slightly higher than Serbia and Bosnia, and similar to Albania.

• Food prices are lower than in Croatia, similar to Albania, and higher than in Serbia or Bosnia.

• Utility bills are similar to Serbia but lower than in Croatia.

Montenegro vs. the USA and Canada

• Rent in Montenegro is 70-80% cheaper than in major cities like New York, Los Angeles, or Toronto.

• Food prices are 50-60% lower.

• Healthcare is more affordable, though private healthcare is advisable for expats.

• Transportation costs are significantly lower.

Is Montenegro Expensive or Affordable?

Montenegro is a relatively affordable country, especially compared to Western Europe and North America. The low cost of rent, food, and transportation makes it an attractive destination for those looking to stretch their income or live comfortably on a modest budget. However, salaries in Montenegro are also lower than in many other European countries, so job seekers should factor this into their decision.

Who Should Consider Living in Montenegro?

• Digital Nomads: Montenegro offers a low cost of living, a growing expat community, and good internet infrastructure.

• Retirees: Affordable healthcare and a relaxed lifestyle make it a great option for retirees.

• Entrepreneurs: Business-friendly regulations and low corporate tax rates (9%) attract investors.

• Remote Workers: With scenic views and a reasonable cost of living, remote workers can enjoy a great quality of life.

Conclusion

Montenegro is an affordable country for expatriates compared to Western Europe and North America. While it is more expensive than some Balkan neighbors, it offers a high quality of life, beautiful scenery, and relatively low living costs. If you are looking for an affordable yet picturesque place to live, Montenegro might be the perfect destination for you.