5 Cheapest Countries To Live in Central and South America

4. Nicaragua

Cost of Living: $625

Nicaragua is one of Central America’s poorer countries, with high unemployment and huge international debt. Remittances from foreign-based locals and foreign assistance are its primary means of foreign exchange. A large population of Nicaraguans live under the poverty line. Nicaragua has known mineral deposits, with gold being the primary mineral mined intensively. It is 3.61 times cheaper to live in Nicaragua than in the United States.