8 European Cities Where You Can Live on Nothing but Social Security

Conventional wisdom tells us that you'll maximize your retirement savings if you live somewhere that's affordable, where you can rely on social security to cover the costs — a figure that adds up to $1,976 for an individual and $3,014 for a couple in 2025. 

And, if Europe is part of your retirement dream, get ready to celebrate because there are plenty of affordable cities to explore.

On top of the fiscal benefits, living abroad in retirement can expand your cultural horizons, help you meet new people, build new communities, and even learn a new language to keep your mind sharp. And let's not forget the many sites to see!

Editor's Note: Housing costs are for one-bedroom homes located outside of city centers.

Average rent: $658

Median home price per square foot: $375

Between Vienna and Prague is bustling Brno, the second-largest city in the Czech Republic. It has all of the art, architecture, cuisine, and culture of the capital without the crowds or the prices. Here, groceries, housing, and transportation are all affordable.

With a monthly budget of $1,000, you'll have money left over for dining out and leisure in this cosmopolitan city.

Just remember, you'll need to apply for a long-term visa and renew it every year for five years to be considered for permanent residency if you plan to make this spot your forever home.

Average rent: $400
Median home price per square foot: $167

Known for being scenic and affordable, Romania is especially attractive to expat retirees. Its walkable capital city has lovely architecture balanced with parks, public spaces, and leisure activities.

If you love to dine out, you can score $4 meals at many restaurants, which are accessible by foot or public transportation.

While there's no retirement visa, you can gain residency by overstaying the 90-day Schengen period and working with a lawyer to establish permanent residency.

Average rent: $486
Median home price per square foot: $128

Beautiful weather, delicious food, and friendly people draw many retirees to Spain, which is pricier in bigger cities. But in historic Córdoba, you can retire on a budget of $20,000 to $22,000 annually.

Here you'll be able to enjoy a more traditional Spanish way of living that's laid-back and family-oriented, all while being nestled amongst stunning architecture and lovely places to stroll and dine.

You'll need to show proof of income and apply for a nonworking visa to qualify for residence.

Average rent: $350

Median home price per square foot: $209

Live the dreamy Mediterranean lifestyle in this gorgeous beach city with an ideal climate. There's no shortage of culture to appreciate, olive groves to explore, and mountains to gaze at.

Kalamata is one of the cheapest cities in Greece to retire to, and you can get by on $1,500 a month. And your other monthly costs will stay low across the board, including utilities and food costs.

With the Financially Independent Person visa, you can become a permanent resident at the five-year mark.

Average rent: $866

Median home price per square foot: $281

For about $1,250 per month, you can enjoy the good life in Porto, where you can wander cobblestone streets, enjoy delicious wines, and meet with welcoming locals.

This coastal city on the banks of the Douro River also comes with nationalized healthcare once you become a resident, which can be an important benefit for retirees.

Portugal is one of the easiest countries to emigrate to, with the D7 visa requiring proof of income to qualify.

Average rent: $441.49
Median home price per square foot: $197

Bulgaria is one of the most affordable countries in Europe, and its capital is rich in history, culture, and outdoor beauty. It's walkable, has good public transportation, and is full of parks and architectural marvels.

You can enjoy a meal out with an adult beverage for $10, with monthly food costs under $250. You can also get health insurance once you're a resident.

It's easy to get a Retirement D visa; all you need to do is fill out the paperwork and show proof of your social security.

Average rent: $596

Median home price per square foot: $350

The gem on the Adriatic sea is filled with stunning historic buildings, friendly locals (many who speak English), and modern conveniences. But this beach town with great seafood is also super affordable.

Split is approximately 40% cheaper than other cities in Europe. Your monthly budget outside rent can be as low as $830. Many restaurants offer fixed-price lunches that will leave you satisfied.

If you're dreaming of staying here forever, you'll likely need to prepay your rent for one year or purchase a property to qualify for residency.

Average rent: $467

Median home price per square foot: $174

La Dolce Vita can be yours in Viterbo, a Medieval city an hour and a half north of Rome. It looks exactly like you would imagine a gorgeous, old Italian city would.

Food is king in Italy, and a meal of pasta and wine here costs less than $20, and groceries for a month hover around the $300 mark. Opportunities to explore the countryside are also plentiful.

When it comes to extending your stay, the Italian Elective Residence Visa is your ticket, and it must be renewed every two years. As an added bonus, it comes with health insurance, something that is especially important in retirement.

We all want to avoid wasting money in retirement, and moving to a place where your social security payments cover all your costs is a great way to do that. Even better is the thought of enjoying your golden years in a thriving European city amongst your peers.

Be sure to read the fine print on all matters visa related so you're prepared when it comes time to fill out your paperwork and make the big move. The embassy of your country of choice is a great place to get started on that journey.