What is the cost of living in Medellin for a US citizen? 2021
How much do you think it would cost to live in Medellin? Many people think that living abroad is an expensive luxury after they travel to tourist hotspots with inflated prices, thinking the cost of their trip is comparable to the cost of living in that country.
Those who do know there are plenty of cities in the world where you can live in at a pretty low cost, are often worried about the quality of life in those places. They wonder… will they have access to all the comforts and commodities that they’re used to?
I’ve always been passionate about exploring other places and cultures, so I decided to pursue an international lifestyle. It’s my dream and mission to find those places that have the perfect balance between a low cost of living and a high quality of life, and make them my home.
In my journey to find these places I came across Medellin, Colombia, a city that’s perfect for US expats. No matter the type of expat you are, this city has what you need, whether you’re a nomad looking for a minimalist lifestyle, a regular American looking for a middle-class lifestyle in a new place, or an entrepreneur like me, looking for the best that the world has to offer while still being able to work on exciting projects.
There are many reasons why I love Medellin and why I think it’s perfect for a lot of different people, but right now I want to talk about just one: the cost of living. It’s amazing how good of a life you can get here, for so little money. How little? Read on to find out the exact budget you’ll need to move here.
I’ll explain this by dividing it into three financial categories, so you can choose the one that suits you best, and then, I’ll give you my advice on how exactly you can obtain the income you need to sustain yourself in Colombia, and live an international lifestyle like me.
Nomad backpacker: $600-900 a month
This is a minimalist lifestyle where you’d be renting a room in an average neighborhood and eating mostly home cooked meals. If this is you, your entertainment will be mostly outdoors and free social activities. The expected mode of transportation will be public services which is about 70 cents a ride, or getting around by bicycle.
You can get this with a budget of $600-900 a month, which you can get on some simple investments or freelance work. Internet speeds are usually very good, which makes Medellin perfectly suitable for digital nomads whose source of income requires stable internet connection.
Middle-class American: $1200-1800 a month
Most expats fall into this category, desiring a middle class life consistent with their lifestyle in the USA. If you’re like this, you probably want a 1-bedroom apartment in a neighborhood like El Poblado, where you’ll be close to nightlife and restaurants in the safest parts of the city. In my opinion, a budget of $1200-1800 a month will set you up for a good lifestyle.
With this budget, you can get a furnished Airbnb, which will cost you around $600-900 a month; for an unfurnished one you’re looking at around $400-600. That leaves the rest of your budget for food, eating out, entertainment and local travel. A weekend trip to nearby points of interest like Guatape could be had for as little as $100 bucks.
So with $600-900 of discretionary spending you’ll live pretty well, with the potential to save money each month for international travel.
Upper-class living: $3,500-4,000 a month
What do you imagine you can afford with $3,500 per month? In most major US cities, that’s barely enough for a single person to live comfortably. In Colombia, however, this is enough to sustain a family of 4 with an upper class lifestyle. I know this, because this is the budget that I’m living on.
On a budget of $3,500-4,000 each month, you can get a 3-4 bedroom apartment in the best complexes that Poblado and Envigado have to offer — gated, with a pool, doorman, gym, sauna, and more. You’d be able to hire a live-in nanny, daily housekeeper and cook, as well as pay for private school for the kids, enjoy the nicest restaurants in the city and/or travel every weekend.
Save in basic expenses, invest to generate wealth
Everyone thought I was crazy when I decided to make this move, but I think it’s crazy not to do it once you see what you can get: life in a modern and vibrant city, with all the comforts you’re used to in the US, but for a third of the costs.
Whether you’re living the modest backpacker lifestyle or the upper-class lifestyle that I have, if you have a steady income in USD, moving to Medellin is the smartest move. Living in the US you would be spending 3 or 4 times more on your basic expenses, so all the money you save by moving here can be reinvested into businesses or your passions.
How to earn the income you need?
To be clear, a typical local salary will not cover most of these lifestyles. I’m living here with the revenue I generate in the USA through my real estate investments and healthcare companies. Having this steady source of income in USD is what allows me to live the life I want in Medellin, free of worries about money.
I’ve shared my expertise in these areas in my courses Killing the American Dream (Real Estate Investing) and Passive Workforce (Healthcare Staffing). Check them out and you’ll have two options to generate passive income to live in Medellin. After you make the initial investment and arrangements in the US, in just a few months you can head over here and manage your business or properties remotely!
There are even really exciting profitable opportunities here in Medellin, if you want to venture into international real estate. Take a look at this Airbnb project I’m working on!
If you’re just starting out as an entrepreneur and you’re still hesitant about making investments, you can learn by working with me, and getting a close look on how I manage my businesses. I am setting up an office in Medellin and I have job opportunities that can give you the income to live a nomad or middle-class lifestyle.
If you’re interested in working with me or partnering with me in one of my projects to generate wealth, send an email to firstname.lastname@example.org.
Don’t wait any more, invest your money wisely by moving to Medellin!