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As more individuals contemplate relocating or spending an extended period overseas, Montenegro, a true Balkan gem, quietly emerges as a destination of intrigue. This enchanting nation offers a unique blend of natural beauty, historic charm, and the best part – the cost of living in Montenegro is relatively affordable. However, as with any relocation, individual preferences, lifestyle choices, and personal circumstances significantly determine overall expenses. At Royal Town Kotor, we have learned a thing or two about the lifestyle, infrastructure, and financial situation in Montenegro, so we have brought you this comprehensive overview of the various factors contributing to the cost of living in Montenegro.

Is Montenegro an Expensive Place to Live?

By European standards, Montenegro is a relatively inexpensive place to live. Monthly expenses for a single individual are estimated to be €650 or €1,700 for a family of four. In short, whether you work or are retired, your money will go much further here. Montenegro comes in at 74th on Numbeo’s cost of living index 2023, with living costs comparable to Armenia and Mexico.

The cost of living in Montenegro is around 43% lower than in the United Kingdom or the United States of America; rent is 52% lower in the United Kingdom and 63% lower in the United States of America. Rent prices will, of course, vary across the country, with cities being more expensive. Nonetheless, your cost of living will remain modest.

What Factors Contribute to the Cost of Living in Montenegro?

Accommodation in Montenegro

Housing is a substantial expense wherever you settle, and it’s no exception that this is the most significant factor in the cost of living in Montenegro. You can find many accommodation options, from city pads in bustling cities like Podgorica to serviced apartments in the south, like our Royal Town Kotor complex, to quaint coastal villas. Rental prices vary based on the region and the type of property. Coastal areas tend to be more expensive due to their popularity among tourists. On average, a one-bedroom apartment in the city center may cost between €300 and €500 per month.



Utilities, including electricity, heating, cooling, water, garbage, and internet, constitute another essential aspect of the cost of living. On average, a monthly utility bill for a standard apartment can range from €70 to €120, depending on the size of the dwelling and usage patterns.


Food and Groceries

Montenegro offers a diverse culinary experience, and the cost of groceries is generally reasonable. If you want to minimize the cost of living in Montenegro, local markets, known as “pijacas,” are great places to purchase fresh produce at affordable prices. A monthly grocery bill for a single person can range from €150 to €250, depending on dietary habits and preferences.


Getting Around in Montenegro

Montenegro’s public transportation system is relatively affordable, with buses connecting major cities and towns. Bus tickets in the Kotor-Tivat-Budva area range between 3 and 4€, and each city has a local bus route. Depending on your destination, you can buy a monthly ticket for about 40€ or a single-ride ticket for about 1-2€. A single bus ride in Podgorica costs 1.20€, and the city is well linked.

Fuel prices are on par with European averages if you prefer the freedom of owning a car. So, you should factor in monthly transportation costs, including fuel and public transport, from €50 to €100 to your cost of living in Montenegro plan.


You’re definitely going to need health coverage if you plan on living in Montenegro. Expatriates should obtain private health insurance for comprehensive coverage. The cost of health insurance varies, but on average, it may range from €50 to €150 per month. Isn’t staying fit and eating healthily the key to avoiding those frequent appointments with the doctor? With so many gyms, you can choose between solo and group training sessions or alternate between indoor and outdoor workouts, depending on your mood. The usual cost is roughly €30-60 per month, with a personal trainer costing an additional €80-150 per month.

Leisure and Entertainment

Montenegro offers a vibrant cultural scene and numerous recreational activities. The cost of entertainment varies, with cinema tickets priced around €4 to €6 and dining out in a mid-range restaurant costing approximately €20 to €30 per person. Outdoor activities such as hiking and exploring the national parks are often low-cost or free, contributing to a balanced and affordable lifestyle. Dining out, attending cultural events, and participating in recreational activities may add €100 to €200 per month to your budget.


Education Costs in Montenegro

We have excellent news for you if you relocate to Montenegro with your family! Montenegro offers several private schools that teach English, French, and Russian. These schools are found in cities such as Tivat, Budva, and Podgorica. They covered kindergarten through middle school. Your child will be able to participate in exceptional international educational programs. And the price is somewhat variable. Depending on the school and grade level, you could be looking at anywhere from € 5,000 to € 19,000 to include in your budget for the cost of living in Montenegro.

Cost of Living in Kotor Montenegro

If you’re thinking about moving to Montenegro, make Kotor a priority. It’s a location you won’t want to miss because of its breathtaking beauty, limitless culture, and low cost of living – see a breakdown here.

Your Affordable Home in Montenegro 

To experience this gorgeous Balkan country’s natural and cultural lifestyle, you’ll need an ideal location to call home. You may want to learn about Montenegro business prospects or buy property in Montenegro. Then go no further than our luxury apartments for sale in Kotor! We provide the opportunity to buy real estate in Montenegro with our serviced apartments at Royal Town Kotor, brought to you by the developers of Royal Blue Montenegro. Royal Town Kotor apartments offer sumptuous comfort to investors, homemakers, and visitors through a professionally planned management system and unbeatable on-site facilities.

Live an Affordable Luxury Lifestyle in Montenegro

With its breathtaking landscapes and cultural richness, Montenegro is an enticing destination for individuals seeking a unique living experience. As the cost of living in Montenegro is more affordable than in many Western European countries, you can maximize your spending power by taking advantage of this affordable dream location. If you want to do that while living in style, contact our advisors at Royal Town Kotor to learn more about our fantastic Kotor apartments for sale. 

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