5 Cities With Lowest Cost of Living in 2023

In this piece, we will take a look at the five cities with the lowest cost of living in 2023. For more cities, head on over to 33 Cities With Lowest Cost of Living in 2023.

5. Municipality of Medellín, Colombia

Insider Monkey’s Cost of Living Score: 39.45

Municipality of Medellín houses more than two million people making it the second largest city in Colombia. It is also one of the older cities on our list since it was set up in the early seventeenth century. Medellín is an economic hub in Colombia and has a presence of large and important industries such as insurance, asset management, cement production, banking, and food processing. The city also accounts for large portions of Colombia’s exports, yet there are high levels of income inequality in the region.