For expats on a budget, Colombia is one of the most affordable South American countries in which to live.
Many call Colombia the “Gateway to South America,” but it’s also one of the most affordable nations on the continent. Colombia’s colonial architecture and ocean vistas give the country the look and feel of the Mediterranean seaside without the hefty price tag.
As of 2023, the cost of living in Colombia is less than the cost of living in the USA, Canada, and many European countries. The country’s economy has enjoyed steady growth for several years, attracting everyone from digital nomads to retirees. Below is an overview of what expats can expect to pay if they immigrate to Colombia.
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Is Colombia Expensive?
If you want to live in the scenic lands of Latin America but you’re concerned about how much it will cost, consider moving to Colombia. Colombia’s cost of living is not as high as most countries in South America.
Many foreigners from North America and Europe who move to Colombia find that it’s easy to live a comfortable life without increasing their budget. Based on floating exchange rate data provided by the U.S. Treasury’s FiscalData Currency Exchange Rates Converter as of March 31, 2024, $1.00 USD is equivalent to $3,858.00 Colombia pesos. For some expats, this exchange rate means that their savings have more buying power in Colombia.
The next section explains the Cost of Living Index (CLI) for Colombia. The CLI is a general index that explains how the cost of living differs from one country or city to the next. It uses housing, groceries, transportation, and other key expenses. This article uses CLI data provided by Numbeo and is up to date as of April 2024.
Note: Numbeo’s CLI uses the number 100. It represents the cost of living in New York City as a baseline of comparison. If a country or city has a cost of living of 110, that means it is 10% more expensive than New York City. If a country or city has a cost of living of 90, that means it is 10% less expensive than New York City.
The Cost of Living in Colombia vs the United States
The current cost of living in the U.S. is 72.9, similar to the CLI of 68.4 in Canada and 63.7 in the United Kingdom.
By contrast, Colombia’s cost of living is 30.6 – significantly less expensive than the U.S., Canada, or the U.K. Colombia is also less expensive than other South American countries like Uruguay (55.3), Guyana (46.2), Chile (39.9), and Brazil (35.2).
Learn More: Moving Abroad to Colombia
What Are the Most Expensive and Cheapest Places to Live in Colombia?
Colombia is one of the most affordable countries in South America, but some cities in Colombia are cheaper than others. Here’s a closer look at how the cost of living in major cities like Cartagena, Medellín, Cali, and Bogotá compare to the cost of living in New York City.
Cartagena
Cartagena’s white sand beaches and cobblestone streets have made it a favorite among expats. The city is a UNESCO World Heritage site that features some of the best examples of 16th, 17th, and 18th-century military architecture in the world.
Yet there’s more to Cartagena’s than its tropical climate and centuries-long history. Expats who prefer an active lifestyle will appreciate this walkable city’s green spaces and many opportunities for boating, swimming, street cycling, and golf. Cartagena hosts several annual international film and music festivals.
The neighborhoods of Bocagrande and Manga are safe and popular with expats. The city is also home to a number of international schools, as well as a high quality healthcare system with several hospitals.
Cartagena’s cost of living index is 36.56. It’s more expensive than the countrywide average (30.6), but is much less expensive than NYC (100).
Medellín
Medellín is known as the City of the Eternal Spring. This popular travel destination has a mild, temperate climate. The flower and coffee farms of the striking Aburrá Valley surround it.
Medellín’s markets are known for their diverse selection of local cheeses. The city also hosts an annual Flower Festival and has a thriving art scene. Its lively atmosphere and beautiful scenery have attracted a large expat community, with many foreigners moving to safe, hip neighborhoods like El Poblado.
Medellín’s cost of living index is 32.1, which means it’s less expensive than Cartagena but still a bit higher than the countrywide average.
Cali
If you love to dance and prefer to live in a city that never sleeps, consider Cali. It’s been nicknamed both the Salsa Capital and the Rumba Capital of the world. In Cali, there’s no shortage of music, dancing, nightclubs, or nightlife.
Spanish, African, and indigenous cultures have influenced the flavors of the local cuisine. No matter where you turn, you’ll find live music, colonial architecture, and scenic views of the majestic Cali River. Cali offers a great quality of life and is home to some of the best hospitals in Colombia.
The cost of living index in Cali is 31.2, making it slightly more affordable than Medellín.
Bogotá
The Colombian capital of Bogotá is one of the country’s most charming yet modern cities. It features colorful street art and a flourishing art community. This city of 8 million people is located high in the breathtaking Andes Mountains.
Bogotá’s green spaces, museums, colonial architecture, and friendly locals have made it one of the most popular destinations in the country. As a result, it has a booming expat community that welcomes new immigrants. Bogotá’s weather is pleasant year-round and the local healthcare system has a reputation for excellent patient outcomes.
Bogotá’s cost of living index, which is 30.6, makes it a more affordable city than Cartagena, Medellín, and Cali.
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The Average Cost of Living in Colombia
Colombia’s tropical location along the Caribbean Sea, as well as its low cost of living, make it a desirable place to live the expat life. Here’s a breakdown of the average costs for housing, food, entertainment, transportation and more in four of Colombia’s most populous cities.
Housing Costs in Colombia
Rent in Colombia costs much less than it does in our benchmark city of New York City, especially after factoring in expenses like utilities and WiFi. Expect to pay more to lease real estate in Colombia if you choose an apartment or house inside a city center.
| Cartagena | Medellín | Cali | Bogotá | |
| One-bed apartment in a city center | $850 | $516 | $328 | $506 |
| One-bed apartment outside a city center | $292 | $408 | $250 | $350 |
| Three-bed apartment in a city center | $1,510 | $950 | $595 | $790 |
| Three-bed apartment outside a city center | $510 | $863 | $436 | $671 |
| Utilities | $160 | $90 | $79 | $113 |
| Internet | $38 | $27 | $26 | $30 |
Food and Entertainment Costs in Colombia
This section looks at how much it costs to dine at a restaurant. It also looks at the cost of recreation, entertainment, and grocery staples. Note that gas prices can fluctuate daily and the prices provided below are just a snapshot in time.
| Cartagena | Medellín | Cali | Bogotá | |
| Lunch for two at an inexpensive restaurant | $14 | $13 | $8 | $11 |
| Dinner for two at a mid-range restaurant | $45 | $31 | $34 | $31 |
| Cost of a domestic beer | $2 | $1.50 | $1.30 | $1.35 |
| Cost of a pair of cinema tickets | $10 | $8.50 | $12 | $12 |
| Cost of a gym club membership | $35 | $30 | $25 | $26 |
| Eggs (dozen) | $2.40 | $2.40 | $2.50 | $2.60 |
| Milk (1 liter) | $1.16 | $1.25 | $1.40 | $1.50 |
| Chicken breast (1 kilo) | $6.30 | $6.40 | $6.50 | $6.10 |
| Bottle of wine (mid-range) | $18 | $11 | $11 | $10 |
| Rice (1 kilo) | $1.60 | $1.40 | $1.50 | $1.50 |
Transportation Costs in Colombia
This is a snapshot of the average prices you can expect to pay for public transportation in Colombia. It also shows the cost to buy a car and purchase fuel.
| Cartagena | Medellín | Cali | Bogotá | |
| One-way ticket on local transit | $0.85 | $0.83 | $0.75 | $0.85 |
| Monthly pass for local transit | $26.40 | $57.20 | $11.80 | $42.50 |
| Cost to buy a new Volkswagen Golf | $21,300.00 | $22,770.00 | $23,353.00 | $18,400.00 |
| Cost to buy a gallon of gasoline | $0.90 | $1.10 | $1.00 | $1.10 |
Education Costs in Colombia
Below is what you can expect to pay, on average, to put one child through private school in Colombia.
| Cartagena | Medellín | Cali | Bogotá | |
| Kindergarten (monthly) | $153.00 | $260.00 | $325.00 | $253.00 |
| International primary school (annual) | $11,100.00 | $7,720.00 | $7,170.00 | $8,085.00 |
Healthcare Costs in Colombia
Most expats prefer to move to a country where they can trust that the healthcare is affordable and high quality. The World Health Organization ranks Colombia’s universal healthcare system as having better patient outcomes than the systems in Canada, the U.S., Australia, and other countries in South America.
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Colombia’s healthcare system is also publicly funded. Although the public healthcare system keeps medical costs relatively low, the downside is that there are no national standards of care. This means the medical facilities and services in large cities like Bogotá or Medellín may differ from those in smaller cities like Manizales, Santa Marta, or Barranquilla. Not all facilities have physicians who speak English. Moreover, wait times to see a doctor can be as long as several weeks or months.
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Many immigrants choose to buy a private international health insurance plan. A private insurance plan can make it easier to access doctors who speak English and avoid lengthy wait times. Learn more about Colombia’s healthcare system.
Is Colombia Your Next Home?
Yes, Colombia’s low cost of living has helped the country earn its place as a tempting new home for budget-conscious expats. Even if cost is not your main concern, Colombia offers a wealth of cultural, historical, and outdoor activities that appeal to adventurous foreigners and digital nomads.
One of the most important factors in any international citizen’s budget is the cost of healthcare. Visit International Citizens to see your options for health insurance in Colombia and discover the right plan for you.
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