Colombia_Flag-1.png

Cost of Living in Medellin, Colombia

Medellin is the city in Colombia which is improving very fast and this reputation, combined with the beautiful climate and culture makes this place even more attractive to newcomers.

It is also one of Colombia’s most important centers when it comes to the economy of the country, so new job opportunities can be offered to those people who decide that moving to Medellin is a good idea, both for their living conditions and better lifestyle.

Restaurants

RESTAURANTS

Great restaurants can be found all over Medellin and they offer a bunch of diversity of food from all over the world.

Domestic cuisine is the least expensive while international dishes are quite pricey.

Alcohol is not too expensive and can be afforded during the meal.

Markets

MARKETS

For those who love to cook for themselves and their families, living in Medellin would not be too expensive, as food takes the most of money.

Markets offer fresh domestic products at affordable prices and eating at home would save you a lot, unlike dining out on a monthly basis.

Transportation

TRANSPORTATION

Medellin has well developed local public transport system, which includes diesel buses and taxis.

It also boasts the only metro system in Colombia, and in general, it can be said that commuting via it is inexpensive, due to the $30 monthly pass.

Utilities

UTILITIES (MONTHLY)

Your cost of living will depend on what type of lifestyle you want to have and how many people live in your apartment.

Medellin is less expensive than many other cities when it comes to utilities, as you will pay around $60 for basic services.

Sports and leisure

SPORTS & LEISURE

People who want to live an outdoor-based, active lifestyle can enjoy it in Medellin, as this city has perfect weather and beautiful nature.

On the other hand, those who like doing it inside can visit fitness clubs or gyms which are affordable here.

Clothing and shoes

CLOTHING & SHOES

Additional costs that can affect your monthly budget include clothing items that you purchase and buying low cost apparel would be more affordable.

Buying them at the branded stores would cost you pretty much, as the prices are far too high compared to the average monthly salary.

Rent per month

RENT PER MONTH

The city is known for low rents, even though it is one of the major cities in Columbia.

The difference in rent between apartments in  the city center and out of it are not big, and are affordable even to those with the average salary.

However, if you are coming with your family, be ready to pay higher rents for larger apartments.

Cost of Living Averages Table for Medellin

Average Restaurant Prices
Meal (Inexpensive Restaurant) $3.49
Domestic Beer (0.5 Liter) $0.95
Water (0.33 Liter) $0.64
Average Market Prices
Milk (1 Liter) $2.74
Loaf Bread (500g) $0.85
Eggs (12) $1.57
Average Transport Prices
One Way Ticket $0.70
Monthly Pass $30.31
Gasoline $2.90
Average Utilities Prices
Basic (Water, Electricity, Garbage, Heating, Cooling) $56.59
1 min. of Prepaid Mobile Tariff Local $0.05
Internet (Unlimited Data, Cable/ADSL) $37.15
Average Leisure Prices
Fitness Club, Monthly Fee for 1 Adult $24.18
Tennis Court Rent (1 Hour) $10.46
Cinema, 1 Seat, International Release $4.12
Average Clothing Prices
1 Pair of Jeans (Levis 501 Or Comparable) $52.34
1 Summer Dress in a Chain Store (Zara, etc...) $34.66
1 Pair of Adidas Walking Shoes (Mid-Range) $75.55
Average Rent Prices
Apartment (1 bedroom) in City Center $244.92
Apartment (1 bedroom) Outside of Center $231.35
Apartment (3 bedrooms) in City Center $441.33

How Does the Average Person Spend Their Money in Medellin?

Medellin is great city due to the low rent and utilities prices, and that is why not much money is spent on these.

People who want to lead an active lifestyle in Medellin have numerous fitness clubs and tennis courts that are all available to help keep you fit all over the city and they would need to devote around 7% of the monthly budget for that.

The third of the budget is given for foodstuff, as it is neither expensive nor too cheap, but of the utmost importance for daily living.

11.9%
33.6%
14.4%
6.8%
7%
5.1%
21.1%
Restaurants
Markets
Transportation
Utilities (Monthly)
Sports & Leisure
Clothing & Shoes
Rent Per Month

Medellin: Average Salary, Minimum Wage & Mortgages

Medellin is among the top South American cities attractive for foreigners to both come as tourists and as settler.

This very innovative city offers lower rent and utilities costs, and is very affordable for those earning their wages in more developed countries.

However, when negotiating your salary with employers in Medellin, make sure to previously match the possible expenses with it, to see whether it would be high enough to provide a decent living.

Due to the high mortgage interest rates, most people decide to rent rather than buy property here.

Average Salary$329.42
Minimum Wage$262.9
Mortgage Interest Rate12.08%

Cost of Living by City in Colombia

*Click the name of the city for more information.

City Cost of Living Index
Barranquilla 34.04
Bogota 35.05
Cali 30.48
Medellin 33.82

Leave a Comment