The Real Cost Of Living In Colombia

Colombia inspires many thoughts and feelings. Some think of global pop icons like Shakira, J. Balvin, and Karol G. Others are drawn to the magical realism of Gabriel García Márquez or the bold art of Fernando Botero. Once you experience a Colombian festival, it’s hard not to feel part of the country.

But beyond its cultural richness, Colombia has become a place where many foreigners consider building a life, whether for a few months or for good. And that naturally raises a practical question: what does it actually cost to live well here?

I’ve been visiting Colombia since 2003, and one thing I’ve learned is that outdated stereotypes don’t help when making real decisions, especially financial ones. Prices, safety, infrastructure, and lifestyle options have changed significantly over the past two decades.

In this article, we’ll take a closer look at the cost of living in Colombia by breaking down the most important items and services and comparing them with the cost of living in the U.S. and Canada.

AN OVERVIEW OF THE COST OF LIVING IN COLOMBIA

Most expats considering relocation to Colombia start with a basic question: What are the monthly expenses required to live a good life there? The cost of living in Colombia can vary a lot depending on your definition of a good life. However, I can help you estimate the costs of living in Colombia by providing a range of prices for some common expenses.

The average monthly expenses of a single person, excluding rent, are around $559 USD. This amount covers utilities, food, dining out once a week, public transportation, and basic clothing. When you include the cost of a one-bedroom rental apartment in the city center, your cost of living will increase to around $1000 USD per month. You can save $50 USD if you prefer to live outside of the city center.

Not all of us are single. Well, then you are even luckier since you can save even more money as a family. When you add in the average rent for a three-bedroom house in the city centre, that figure rises to just $2,900 USD. You can save $150 USD if you choose to live outside of the city center. Of course, you can always opt for a more luxurious lifestyle, such as living in an upscale neighbourhood, sending your kids to private schools or employing domestic help. Depending on your choices, the cost of living in Colombia can range from $4,000 USD to $6,000 USD monthly.

In Colombia, rent can be your largest expense. Prices depend on apartment features and area (Medellín’s El Poblado costs more). Average purchase prices: US$1,945/m² in the city centre, US$1,256/m² outside

HOUSING COSTS: RENT AND REAL ESTATE

The rent is usually the largest expense item in the budget. The table below shows the average rental apartment costs in Colombia. However, these figures can only give you a basic idea of the cost of rentals, as apartments can vary depending on factors such as size, number of bedrooms, neighbourhood, and any other qualities you expect from a house. The cost of living in El Poblado, an upscale neighbourhood in Medellín, can be way more than living in a smaller city.

If you opt to purchase real estate in Colombia, the average price per square meter for buying an apartment in the city center is around $1,945 USD, and $1,256 USD for an apartment outside the city center.

GROCERY COSTS: LOCAL PRODUCE VS IMPORTS

Colombia’s rich biodiversity and favourable climate enable it to produce a significant share of its own food. Although Colombia relies on imports of grains and processed foods, grocery items are abundant and quite affordable. You can find the costs of some basic grocery items below.

A couple shopping for groceries at local supermarkets like Éxito and Carulla would typically pay between $300 and $450 USD per month.

Transit's excellent in Colombia’s big cities. Medellín’s metro links with other systems and moves 1M+ riders daily. Fares are affordable, even compared with the region

TRANSPORTATION

Public transportation infrastructure is excellent in major cities in Colombia. Medellín also has an extensive subway network integrated with other public transportation systems, allowing over a million people to commute daily. Transportation costs are also very reasonable, even compared to those in the different countries in the region. Below is a table of some common transportation costs:

UTILITIES, INTERNET, AND MOBILE SERVICES

Colombia’s infrastructure for utilities is developed, including high-speed internet in major cities. The table below presents some of the costs of basic utility services:

HEALTHCARE: EXPAT ADVANTAGES

Because private insurance is very affordable, typically costing between $50 USD and $120 USD per month, expats choose modern facilities and highly qualified doctors, particularly in Medellín, Bogotá, and Cartagena.

Comparing Colombia with the U.S. and Canada highlights the strengths of the Colombian healthcare system even more. Basic health insurance costs around $400 USD in the U.S., and that still doesn’t cover all medical needs. Canada is even worse. If you rely on its public healthcare system, you’d better take preventive medicine seriously, because the overloaded and underfunded system will eventually let you down.

A COMPARISON TO THE U.S. AND CANADA

To put things into perspective, let’s compare Colombia’s cost of living with that of the U.S. and Canada. The first striking difference between living in the U.S. and Colombia is the cost of living in the U.S. Even excluding rent, the living costs of the U.S. are 52% higher than in Colombia. Including rent, the figure rises to around 58%. It is because the rent prices in the U.S. are approximately 71% more expensive than in Colombia. What about the restaurant prices? Dining out in a decent restaurant is becoming increasingly costly in the U.S.; it's no wonder that restaurant prices in the U.S. are 62% more expensive than in Colombia. Grocery prices are no better in the U.S. They are around 54% more expensive in the U.S. than in Colombia. So, imagine the new opportunities you would enjoy as an expat living in Colombia, while maintaining the same monthly budget.

Are things better for Canadians? Never. Canadians spend about 114% more on average living expenses compared to Colombians. Once you include the rents, the cost of living in Canada compared to Colombia rises to around 113% higher. The rent prices contribute a lot to this great difference. Because a Canadian pays around 177% more to rent compared to Colombians. Restaurant prices are also way higher in Canada than in Colombia, with dining out costing about 135% more in Canada. Even if you avoid dining out to save money, Colombia remains the better option, as groceries cost about 110% more in Canada than in Colombia.

Colombia has modern infrastructure and reliable services, with a high quality of life for far less than in the U.S./Canada. Lower costs (housing, healthcare, transit) mean more flexibility, plus a stronger Plan-B abroad

CONCLUSION

Colombia is often misunderstood by those who rely on outdated media narratives rather than current realities. As this article shows, the country has evolved significantly over the past two decades, offering modern infrastructure, reliable services, and a high quality of life at a fraction of the cost found in the U.S. and Canada.

For expats, retirees, and digital nomads, the lower cost of housing, healthcare, transportation, and everyday expenses translates into greater financial flexibility and a more comfortable lifestyle. Whether you prioritize saving money, enjoying more leisure time, or simply stretching your budget further without compromising on modern comforts, Colombia presents a compelling alternative to so-called developed countries.

For many people, lower living costs are only one part of a bigger decision: building a stronger Plan-B and expanding your options abroad. If you're ready to take the next step but aren’t sure where to begin, download our free special report on Plan-B Residencies and Instant Citizenships. There’s no better time to act than now.