This Is The No. 1 Country To Live The Dream And Retire On A Budget

This Is The No. 1 Country To Live The Dream And Retire On A Budget

People seeking retirement in Colombia can benefit from top-notch healthcare services in major urban centers, partake in a wide range of exciting activities, and make use of convenient visa options.

You also have the option of acquiring a Migrant Visa, which allows you to stay in Colombia for up to three years without any worries and can be extended indefinitely.

Think About Relocating To These Top Colombian Cities in 2024

Medellín (Big City)

With a monthly budget slightly above $750, you can savor your retirement in the delightful City of Eternal Spring, Medellín. This city not only offers a fantastic retirement setting but also boasts picturesque mountain vistas, numerous chances to visit nearby coffee farms and quaint villages, and a delightful artistic atmosphere.

Cartagena (Intermedium sized city)

Located on the beautiful coast of Colombia, Cartagena offers a range of activities for different preferences and access to lush national parks nearby. With a monthly cost of living of just over $900, Cartagena is one of the more expensive retirement destinations in the country. It grants you access to the beach, and you can explore many cities and towns further south.

Santa Marta (Intermedium sized city)

If you prefer a more relaxed atmosphere to the hustle and bustle of the big city, Santa Marta could be the perfect destination. With its white sandy beaches and calm, crystal-clear waters, this port city exudes a laid-back, coastal and truly Caribbean ambiance. The historic city center, on the other hand, impresses with its charming colonial architecture and lively streets, while the adjacent Tayrona National Park is an ideal natural getaway.

For a family of four, the approximate monthly expenses are $1,535 excluding rent. For a single person, the estimated monthly costs would be around $461. also without rent.

Guatapé (Small Town)

Guatapé, located north of Medellín, is a charming destination with lively houses and breathtaking scenery.

Guatapé offers a wealth of activities, from jet skiing and kayaking to ziplining and hiking, for those seeking an active lifestyle in an ideal climate with average temperatures around 75°F. Rental costs for a two-bedroom small house range from $300 to $450.


While history remains an integral part of Salento’s identity, the growing influence of tourism contributes significantly to its appeal as a charming retirement destination. The local population is a mix of locals and people who have moved in from different parts of Colombia. Over the years, a growing number of expats have become part of the community. Many of them have set up businesses such as hostels and restaurants and actively contribute to the city’s thriving tourism sector.

The monthly rent for a small house with two bedrooms and two bathrooms ranges from $300 to $550.

General Cost of Living in Colombia

Meal, Inexpensive Restaurant3.75 $
Meal for 2 People, Mid-range Restaurant, Three-course22.49 $
McMeal at McDonalds (or Equivalent Combo Meal)6.25 $
Domestic Beer (0.5 liter draught)1.12 $
Imported Beer (0.33 liter bottle)2.25 $
Cappuccino (regular)1.42 $
Coke/Pepsi (0.33 liter bottle)0.77 $
Water (0.33 liter bottle)0.58 $
One-way Ticket (Local Transport)0.70 $
Taxi 1km (Normal Tariff)1.56 $
Taxi 1hour Waiting (Normal Tariff)6.00 $
Gasoline (1 liter)0.65 $
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)17,488.87 $
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)22,787.87 $
 Utilities (Monthly)
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment77.34 $
Mobile Phone Monthly Plan with Calls and 10GB+ Data8.42 $
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)24.60 $
 Sports And Leisure
Fitness Club, Monthly Fee for 1 Adult21.14 $
Tennis Court Rent (1 Hour on Weekend)9.88 $
Cinema, International Release, 1 Seat3.99 $
 Rent Per Month
Apartment (1 bedroom) in City Center314.09 $
Apartment (1 bedroom) Outside of the Center253.50 $
Apartment (3 bedrooms) in City Center558.68 $
Apartment (3 bedrooms) Outside of the Center444.04 $
 Buy Apartment Price
Price per Square Meter to Buy Apartment in City Center1,416.29 $
Price per Square Meter to Buy Apartment Outside of the Center1,125.48 $
 Salaries And Financing
Average Monthly Net Salary (After Tax)348.01 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate12.72