For most people, housing costs are a major expense each month. And with inflation driving home prices and rents up, no wonder young professionals, families, and retirees are moving to Europe, which has a lower cost of life. But that’s not true for all European nations.
According to a report by vacation management company Deluxe Homes, if you’re looking to relocate long-term to the Old Continent and rent prices are a priority, then focus your search on four markets: Stockholm, Vienna, Helsinki, and Lisbon. The company determined the average rent per square meter in some of the top global destinations and then made a list of the most expensive and cheapest places to rent an apartment.

Lisbon is the undisputed winner, where a one-bedroom apartment of about 577 square feet will cost you $1,125 per month (or $21 per square meter). Earlier this year, Portugal was also named the best place to retire. And while its capital is becoming pricier, housing is still much more affordable than in other Western European cities. Lisbon also benefits from year-round sunny weather, stunning beaches just a short train or city bus ride from downtown, an incredibly diverse cultural scene, and fantastic food. The city also has a large expat community, as it has become quite popular with remote workers, especially those working in tech and startups.

Helsinki is the second most affordable city for rental prices. The Finnish capital, located on a peninsula in the Gulf of Finland, consists of over 300 islands and has burgeoning design and food scenes. According to Deluxe Homes, an average 466-square-foot one-bedroom apartment will cost you $911 monthly. In September, Global Property Guide released a survey on Helsinki’s real estate and rental market and concluded that while an apartment in the city center cost, on average, about $1,440, you could find similar properties in the neighborhoods of Alpilla and Kallio, north of downtown, for about $1,176 and a studio apartment for $961.

Vienna and Stockholm share the third spot for the most affordable rent prices. Deluxe Homes points out that, although the average rent prices per square meter in the Swedish and Austrian capitals are pretty much the same (about $22.50), the average apartment in Vienna is much smaller ($862 for 413 square feet) than in Stockholm ($1,124 for 539 square feet). Thanks to its excellent infrastructure, good education, and healthcare services, as well as its world-famous cultural scene, Vienna has ranked the most livable city in the world eight times in the past decade. Stockholm ranked 43rd in the same report.

Somewhat unsurprisingly, the priciest markets for rents are in the U.S. — New York and San Francisco top the list with $3,325 and $2,987, respectively, in monthly rental costs, with London taking the third spot ($2,208), followed by Boston, Washington DC, Miami, and Los Angeles.