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HomeBlogCost Of LivingCost Of Living In Medellin – Live Like A King On $2,000 A Month

Cost Of Living In Medellin – Live Like A King On $2,000 A Month

Welcome to Medellin, Colombia, a city with a captivating lifestyle and a cost of living that appeals to expatriates and digital nomads. In this guide, we’ll explore critical aspects of Medellin’s cost of living, covering rent, utilities, internet, phone bills, food, domestic help, transportation, and entertainment expenses. Discover how this vibrant city offers a fulfilling life at an affordable price.

1. Rent

Is a significant expense in Medellin, just like in many places. The cost of rent can vary depending on the neighborhood and the type of apartment you choose. In El Poblado, a popular area, rents can be relatively high. For example, an unfurnished three-bedroom apartment with two bathrooms could cost around $600 monthly (or about 3,500,000 Colombian pesos). Keep in mind that prices may differ based on the location and the amenities offered. Researching and comparing rental options is essential to find what suits your budget best.

2. Utilities

The cost of living in Medellin includes utility expenses such as electricity, gas, and water. These expenses can vary based on factors like the neighborhood’s “estrato” classification, which determines utility rates.

  • Consider Estrato Classification In neighborhoods with higher estrato levels. Utility bills are higher than in lower-level areas. For example, living in a estrato six or five neighborhood might lead to higher utility costs than a estrato three, two, or one location.
  • Calculate Monthly Expenses On average, a household with moderate energy usage and other utilities may expect to spend around 400,000 pesos (approximately $97) monthly. However, actual costs can vary depending on individual consumption and location.
  • Additional Amenities If you require amenities like air conditioning, your utility expenses might be slightly higher. It’s essential to factor in these costs when planning a budget and considering different neighborhoods in Medellin.

Understanding these steps will help you better manage utility expenses and plan your budget effectively while living in Medellin.

3. Internet

In Medellin, the monthly cost of the internet can vary depending on the type of connection. A dedicated fiber optic line could cost around 300,000 pesos (approximately $73) per month. This may seem higher than shared network options, but the benefit is a stable and reliable internet connection without speed fluctuations. Now, let’s move on to the following expense to consider.

4. Phone Bill

Regarding phone expenses, in Medellin, one can find post-paid plans that offer unlimited services at affordable rates. For example, an unlimited plan, including internet and local calls, may cost around $35 per month. Although international calls might not be included, this is usually fine for those primarily using their phone within the country.

5. Food

The cost of food is an essential aspect of the cost of living in Medellin. Whether one eats out or cooks at home, it can significantly impact the budget. Food delivery services like Rappy (similar to Doordash) are available for those who prefer convenience, offering various options from restaurants, groceries, and even other items like electronics.

Factors such as dietary preferences can also affect expenses. For instance, being vegan might lower costs as plant-based options are less expensive than meat. On average, if someone eats out or orders food frequently, they spend around $8 per meal, consuming twice daily.

The monthly food budget could be around $365, considering all food-related expenses. However, individual eating habits and preferences can lead to variations in these costs.

6. Maid

In Medellin, hiring a maid is affordable and convenient. They can help with cleaning, laundry, and cooking, and their visits can be tailored to your needs. Having a maid frees up your time, so you can focus on things you enjoy instead of chores.

Maid services typically cost around $97 to $120 per month, and they can be a valuable support in maintaining a clean and organized home. Some people even use their help in meal preparation, making it easier to stick to a healthy diet.

Overall, having a maid in Medellin can improve your quality of life by saving you time and effort while keeping your living space tidy.

7. Gym

In Medellin, gym memberships are affordable. For example, at Smart Fit, you can get a monthly plan for around 90,000 pesos, which is about 21 to 22 dollars. This plan allows access to Smart Fit gyms in Colombia and other South American and Latin American locations.

The gyms have modern and well-maintained equipment, making it an excellent option for staying fit and healthy. With such reasonable prices, it’s easier for people in Medellin to prioritize their fitness and well-being.

8. Barbershop

In Medellin, going to the barbershop is common, and many options are available. Depending on the preference, one can choose between cheaper or more upscale barber shops. The cost for a weekly visit to a nicer barbershop, like London Barber, for a haircut and shave, plus a tip, is around 70,000 pesos, which is approximately 78 dollars per month.

These barber shops offer a more personalized and thorough service, taking about 45 minutes for the haircut and shave, leaving customers feeling well-groomed and satisfied. For those who prioritize looking younger and maintaining a neat appearance, a regular visit to the barbershop can be a worthwhile expense.

Uber

9. Transportation,

The cost of transportation in Medellin can vary depending on the location and proximity to essential places. Living in a central area like El Poblado, where everything is conveniently close, can significantly reduce transportation expenses. In the case of the speaker, who is within walking distance of many places, the estimated monthly spending on Uber is around 100,000 pesos. Compared to transportation costs in the United States, Uber rides in Medellin are very affordable, typically ranging from 2.50 to 4 dollars for a 10 to 15-minute ride. This affordable transportation option makes getting around the city easier and accessing various amenities without breaking the bank.

10. Co-working

Co-working spaces are shared work environments, perfect for those working outside their homes or traditional offices. These spaces are usually converted warehouses with an open layout, where people can bring their laptops and work comfortably.

The monthly fee is around 800,000 pesos (approximately 195 dollars), which includes amenities like coffee and snacks.

The benefits of co-working spaces include a focused work environment without the distractions of a café and the opportunity to meet and connect with other professionals, locals, and foreigners. It’s a great way to make new friends and find business contacts. While optional, co-working spaces offer a productive and social alternative for work in Medellin.

11. Entertainment

Medellin offers various entertainment options to keep you mentally refreshed and happy. There are plenty of activities, Whether you enjoy going to bars, dancing, dining, or socializing with new people.

Suppose you are considering moving to Medellin and want guidance or have questions. In that case, you can check out managingmasterclass.com for a comprehensive masterclass that will provide you with all the necessary information to live a fulfilling life in the city.

As for entertainment expenses, going out for dinner, drinks, and dancing can be enjoyable. While the cost may vary depending on preferences, a typical bar tab in a nice sports bar can be around 129 dollars per month. Additionally, spending on entertainment can include taking a date out for dinner and dancing, contributing to the overall cost of living in Medellin.

12. Extra Expenses

In addition to the regular entertainment expenses, there are often miscellaneous costs for additional activities or special occasions. These might include shopping trips, outings with friends or family, or other spontaneous fees that don’t fit into specific categories.

Based on estimates, the extra entertainment expenses can amount to around 121 dollars per month. When added to the previous costs, the total budget for living a fulfilling life in Medellin comes to approximately 2,200 dollars per month.

Living in Medellin allows for a vibrant and enjoyable lifestyle, with various social activities, dining out, and exploring the city. It’s a place where one can feel energized, meet new people, and relish life’s pleasures, making it an attractive option for those seeking a balanced and fulfilling life.


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