The culture and relative safety of many European cities can be appealing to American retirees, but those living on a fixed income must stretch their U.S. dollars as far as possible. Major cities such as London may check all your boxes, but the cost of living may be too high for anything more than a short vacation.
To help narrow down the search for affordable European cities, U.S. News reviewed cost of living data from Expatistan and considered other qualities that make a city livable for seniors.
Listed alphabetically, here are five affordable European options worth calling home in your golden years. How far your U.S. dollar will go abroad will depend on its strength relative to the local currency, which may fluctuate over time.
Florence, Italy
This ancient Tuscan city of Florence is relatively safe and remarkably easy to navigate on foot as well as by public transportation. Home to bustling public squares such as Piazza della Signoria, Florence is a people-watching paradise. This beautiful city is dense with some of the world’s finest art museums, many of which are free to enter. Much of the restaurant fare, such as bistecca alla fiorentina (steak), ribollita (vegetable soup) and all kinds of pasta, will be familiar to an American palate. Retirees can easily find international grocery stores and are unlikely to be without common comforts from home.
Expect temperatures to vary from 90 degrees Fahrenheit in summer to 35 degrees Fahrenheit in the winter months.
Average Costs
— The cost of living in Florence is cheaper than in 64% of other Western European cities.
— The average monthly rent for a 900-square-foot furnished accommodation in a central area is approximately $1,136.
— A basic lunch with a drink in the business district hovers at about $16.
— As a single person, you can estimate your monthly costs at $1,855.
[READ: Best Affordable Places to Retire Overseas.]
Ghent, Belgium
The port city of Ghent in northwest Belgium is a university town and an ideal home for expat seniors. Situated on the Leie and Scheldt rivers, Ghent is steeped in culture and history, complete with a UNESCO-listed belfry. If you appreciate gastronomy and a lively art scene, you won’t be at a loss for things to do in Ghent. In addition to eating those famous Belgian waffles and chocolates, retirees can enjoy a wide array of creative plant-based cuisine. You may not find as many American-specific supermarkets as you would in large European cities, but there are familiar offerings at local grocery chains. Ghent is terrific for walking and biking, and its public transportation is top-notch.
Those with a preference for cooler weather will appreciate Ghent’s mild climate. Average temperatures range from 73 degrees Fahrenheit in summer to 35 degrees Fahrenheit in winter.
Average Costs
— The cost of living in Ghent is cheaper than in 66% of other Western European cities.
— The average monthly rent for a 900-square-foot furnished accommodation in central Ghent is $926.
— A basic lunch with a drink in the business district will cost you about $20.
— As a single person, you can estimate your monthly costs to be about $1,679.
Lisbon, Portugal
Lisbon is Portugal’s vibrant capital city known for its colorful tiled buildings and winding streets. Walking is sure to keep you in shape at no extra cost because the city is quite hilly. Retirees can also take advantage of Lisbon’s excellent public transportation, including its charming yellow trams. If you like seafood, you’ll love Lisbon. Because it’s located on the Atlantic coast, fish and shellfish are always on the menu. Many stores cater to expats from all over the world. That includes Glood, a chain of American and international food shops.
The weather in Lisbon will satisfy most people. Average temperatures range from 83 degrees Fahrenheit in summer to 47 degrees Fahrenheit in winter.
Average Costs
— The cost of living in Lisbon is cheaper than in 53% of cities in Western Europe.
— The monthly rent for a 900-square-foot furnished accommodation in an average area is $1,289.
— A basic lunch with a drink in the business district will set you back $12.75.
— For a single person, the estimated monthly costs total $2,200.
[READ: The Best Places to Retire in Mexico.]
Prague, Czechia
Prague, the capital of Czechia, also known as the Czech Republic, offers Bohemian history and modern delights. Its intact mix of Gothic, Renaissance, Baroque and Art Nouveau architecture make it a unique city. As a senior expat living in Prague, you’ll enjoy special privileges. Those over 65 can travel on the city’s excellent network of trams, buses, trains and ferries for free, and many museums are half-price. Although retirees should be on alert for pickpockets in touristy areas, violent crime rates are low. Goulash, potato soup and schnitzel are common menu items, but Prague welcomes people from all over the world and has just about every cuisine an expat could want.
On average, temperatures in Prague will range from 26 degrees Fahrenheit in winter to 77 degrees Fahrenheit in summer.
Average Costs
— Prague may be the most expensive city in Central Europe, but the cost of living is cheaper than in 60% of cities in the world.
— The average monthly rent for a 900-square-foot furnished accommodation in a central area is $1,268.
— A basic lunch with a drink in the business district will cost you about $9.88.
— As a single person, you can estimate your monthly living costs to be $2,135.
Seville, Spain
Located on the Guadalquivir River in the southwest of the Iberian Peninsula is the Andalusian city of Seville. As the capital of the region, it is replete with Flamenco dancers and Moorish architecture. You’ll find charming bars serving a variety of tapas, from tomato and gazpacho soups to the region’s famous Iberian ham. Although you may find a few American shops for groceries, you will probably be shopping more at Seville’s traditional food markets. If you’re seeking a somewhat slower pace than in other European cities, Seville delivers without sacrificing safety or things to do, even at night. Because it is almost entirely flat, the city is very pedestrian-friendly.
If you like the heat, Seville is the warmest city in Continental Europe. Temperatures range from 42 degrees Fahrenheit in winter to 97 degrees Fahrenheit in summer.
Average Costs
— The cost of living in Seville is cheaper than in 57% of other Western European cities.
— The average monthly rent for a 900-square-foot furnished accommodation in the central area is $1,521.
— A basic lunch with a drink in the business district costs $17.
— As a single person, you can estimate your monthly expenses to be $1,521.
[READ: 2024 Most Affordable Places to Retire]
Advice for American Senior Expats
There are a host of factors to consider before deciding on a place to live in, said Charles Neville, marketing director at JayWay Travel, in an email. As an expat living in Prague, Neville suggests that curious pre-retirees familiarize themselves with the rules and restrictions associated with living abroad. In general, U.S. citizens may retire in European countries after obtaining certain visas, many of which are geared toward retirees who can prove they have a steady income and substantial savings. Visa types, permits and requirements will vary by country.
— Belgium: Residence permit.
— Czechia: Long-stay visa.
— Italy: Italian Elective residence visa.
— Portugal: D7 Visa.
— Spain: Investor visa or non-lucrative visa.
“Once there, you also have to think about how easy it will be to deal with normal things, like mobile phone operators,” Neville said. “Will they speak English? For example, many in Italy don’t. Day-to-day life can be a challenge in the beginning.”
For this reason, retirees would be wise to research their new home well in advance. Join Facebook groups that have been set up for local expats and seek advice from people who are already living there. Seniors interested in moving abroad can also connect with one another through online communities such as InterNations, which provides tips and networking opportunities.
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5 Top Options for Affordable Retirement in Europe originally appeared on usnews.com
Update 04/23/24: This story was published at an earlier date and has been updated with new information.
