A European City With One Of The Lowest Costs Of Living Is Known For It's Architecture And Nightlife

With its historic cities and a plethora of tourist traps, much of Europe can be notoriously expensive, but one city that stands out for its affordability, charm, and vibrant social scene is Budapest, at least according to Business Insider. In the heartland of Central Europe, Budapest has become a magnet not just for budget-conscious travelers but is also a popular hub for remote workers and expats looking to stretch their income without sacrificing quality of life.

When it comes to cost of living, Budapest is a frugal standout among other European capitals. For example, living in Berlin is 83% more expensive, while popular cities like Paris and London are 51% and 66% more expensive, respectively, according to Livingcost.org. And it's not just the capital, Hungary as a whole remains one of the most budget-friendly countries in Europe thanks to its comparatively low cost of living, making it an appealing option for long-term stays.

Whether renting an apartment in the city center or grabbing a coffee at a local cafe, everyday costs in Budapest are significantly lower compared to much of Europe and the U.S. According to Business Insider, living in a one-bedroom home in Hungary's capital costs an average of $670. Meanwhile, in the U.S., the average one-bedroom apartment is more than double the price at around $1,626.

Besides housing, living expenses are significantly lower here than in other western countries. According to Numbeo, a site that tracks living expenses around the world, a single person in Budapest can expect to spend around $772, excluding rent, on things like utilities, food, and transportation. In the U.S. people average $1,181 on other monthly essentials and in Germany $1,141, according to Numbeo.

A key factor to the low cost of living is that people in Hungary earn lower salaries than in many other places. According to Numbeo, the average monthly salary in Hungary is roughly $1,151, with people in Budapest earning a bit more on average, but still significantly lower than the average salary in the US. However, with access to free universal health care and lower costs of living the trade might be worth it for people looking to retire in the Pearl of the Danube, or who are working remotely for foreign companies.

While Budapest may be easy on your wallet, it is also rich in social and cultural experiences. Whether you're a night owl, a music lover, or a history buff, Hungary's capital has something for everyone. One of the most iconic parts of its nightlife is the city's ruin bars. Found in the Jewish Quarter, these once-abandoned buildings now serve as buzzing clubs, pubs, and dance floors, and should be experienced at least once by anyone new to the city.

Nightlife is just the beginning of Budapest's cultural landscape. In addition to the city's famous ruin bars you'll find concerts along the Danube River, historic thermal bathhouses that date back to Roman and Ottoman times, museums filled with art and history exhibits, and world-class theater and opera performances. All this makes Budapest more than just an affordable place to live in Europe, it offers a well-rounded lifestyle for expats, remote workers, and curious newcomers.