Cost of Living In Medellin 2024 With REAL Examples
In this segment, I dive into the cost of accommodation in Medellin, comparing Airbnb prices to local rentals and offering insights into what you can expect for your budget.
Comparison of Accommodation Prices: Airbnb vs. Local Rentals
When considering the cost of living in Medellin, Colombia, one of the primary expenses to examine is accommodation. Airbnb offers a variety of options for travelers and expats alike, ranging from budget-friendly dorm rooms to fully furnished apartments. However, as prices have notably increased, it’s essential to carefully assess the available listings and their corresponding fees. For instance, a month-long stay in April might set you back around $648 for a well-appointed apartment in desirable areas like Laureles or Estadio.
- Airbnb in Estadio: $648 per month (with additional fees)
- Unfurnished Rental in Belén: $497 per month
Securing a furnished apartment is famous for many expats and travelers seeking convenience and comfort. While Airbnb offers furnished options, exploring alternatives like Facebook Marketplace can unveil more affordable long-term rental opportunities, allowing individuals to customize their living space according to their preferences.
Equipping a new living space with essential furniture entails an initial investment, but it’s a one-time expense contributing to long-term comfort and functionality. Individuals can allocate funds from beds and sofas to desks and TVs to purchase quality furniture that suits their lifestyle and budget.
By carefully considering and budgeting for these essential expenses, individuals can navigate the cost of living in Medellin while optimizing their financial resources and embracing the city’s vibrant culture and opportunities for personal and professional growth.
- Desk: $46
- TV: $215
- Chair: $45
- Other miscellaneous furniture: Approximately $300
Budget for Basic Needs: Food, Gym, and Health Insurance
Another significant aspect of daily expenses in Medellin is food. Whether dining out or grocery shopping, budgeting for meals is crucial. While local eateries offer affordable options averaging around $4 per meal, preparing meals at home can also be cost-effective. However, dining out’s convenience and cultural experience may sway some individuals despite the potential savings.
- Food (monthly): $120
- Gym Membership (monthly): $18
- Health Insurance (monthly): $52 (public EPS)
Transportation Costs: Uber vs. Public Transport
Navigating the city’s bustling streets requires considering transportation costs. While Uber rides are a popular choice for getting around, expenses can accumulate, especially for frequent travelers. Opting for alternative modes of transport like the metro or buses may offer more budget-friendly options for those looking to save on commuting expenses.
- Uber to for 2 miles (20 monthly rides): $100 (approx.)
- Public transportation card (monthly): $97 (approx.)
Utility Setup and Household Expenses
Staying connected in Medellin involves investing in a local SIM card and recharge plan, typically costing around $14 monthly. This expense ensures access to essential communication services like calls, texts, and data, facilitating personal and professional connections.
- Internet (monthly): $30
- Cleaning (twice a week): $144 (approx.)
- Basic furniture (for unfurnished rental): $1,300 (approx.)
Resource Utilization and Community Support
Resources like the Medellin Dream Academy can be invaluable for individuals interested in maximizing their potential and exploring opportunities in Medellin. Offering courses and community support, the academy provides insights into various aspects of living and thriving in the city, including cost-effective strategies for accommodation, budgeting, and entrepreneurship.
- Online Community: Forums, social media groups
- Support Services: Medellin Dream Community on Scoop.com (free)
- The deeper purpose of living in Medellin: personal growth, community engagement, meaningful connections
Observation:
Have you ever wondered about the cost of hostel living versus renting your place? Typically, a hostel bunk bed sets you back $12.50 a night. But our adventurer here found a sweet deal—a rented space for just $8 more daily after footing the bill for furnishings upfront.
Now, onto the real deal: food. It’s the big spender, especially with subsidized housing. And while cutting back on dining out seems logical, our explorer is still determining if it’ll make a huge dent. A decent meal out costs around $4, but the hassle of cooking something similar at home? Meh.
Take breakfast, for example. Eating out costs $3, but our savvy saver can whip up a similar home-cooked meal (minus the meat) for about the same price, lasting several days.
Sure, there’s room to trim the dessert and soda expenses for health’s sake, but making lunch and dinner feels like a chore.
Stay tuned as our adventurer keeps tabs on spending to see if this month’s budget is the new normal or just a blip on the financial radar.
Join me in uncovering the actual cost of living in Medellin and embracing the opportunities it offers for growth and fulfillment.