Medellin, Colombia

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Medellin, Colombia: Enjoyable Living And Exciting Culture

Reviewed by Kathleen Peddicord

Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.


El Poblado, Medellin
Alamy/Mehdi33300

Medellin makes a good impression immediately and on many levels. Architecturally, this city is lovely. Built almost entirely of red brick, with almost every structure topped by a red clay tile roof, the place is pleasing in its consistency, especially when viewed from some height.

The city of Medellin is an enjoyable place to be and draws visitors from around the world.

From the hole-in-the-wall shop selling homemade empanadas to elegant restaurants with fine French cuisine, your dining experience will be varied and limitless.

You can also spend an evening at the orchestra or one of 28 theaters, explore the city’s 40 museums, visit its many galleries, or relax in one of 21 parks. And what’s more, the nightlife sizzles in Medellin.

Medellin is physically beautiful. The area has lush hills, with tree-lined streets, green parks, and meandering roads. Throughout the area, small streams tumble down from the mountains, their borders lined with dense areas of lush, tropical vegetation.

The city is impressively green, with trees, plants, and small gardens everywhere, and remarkably clean. In the central neighborhoods, you see no litter.

The metro, a point of pride for the local population, is spotless and like new.

At every station and in every train we boarded, I looked for but was unable to find even a cigarette butt or piece of gum on the ground.

Life In Medellin

The metro in Medellin, Colombia
Adobe Stock/Luis Echeverri Urrea

Cost Of Living In Medellin, Colombia

Medellin is about the best value you’ll find anywhere in the Americas. For the weather, First World ambiance, culture, and amenities we enjoy here, the cost of living is moderately low.

You can live here for just over 3.5 million Colombian pesos per month.

Day-to-day costs in Medellin are on slightly less than those in Panama City, which is to say they’re not ultra-bargain basement.

For instances, a bottle of water in a corner shop, restaurant meals, taxis, and movie tickets all cost just slightly less what they’d cost in the Panamanian capital.

The difference, of course, is that the cost of everything fluctuates in U.S. dollar terms every day.

The dollar has really strong against the peso lately, so purchasing power is going up for those using US dollars.

One notable cost savings living in Medellin would have to do with utility expenses.

Thanks to the climate, you could live here with neither heating nor air conditioning, meaning your utility costs could be almost negligible. This could reduce your overall monthly budget by as much as US$200 or more.

Real Estate

In Medellin, you enjoy a reasonable cost of living, high-value, fairly priced properties, and the chance to earn a non-dollar income with a rental property. The real cost advantage of Medellin has to do with real estate.

El Poblado, in the heart of the city, is the top end of the market, for both renting and buying. Here you’re looking at US$1,000 to US$1,500 per square meter to purchase resale (sometimes furnished); US$1,500 to US$2,000 per square meter to buy new; and US$1,000 (for a one-bedroom) to maybe US$3,000 (for a luxury-level penthouse) per month to rent, furnished.

Again, that’s the top of the market. In less recognized, more local neighborhoods, those prices can fall in half and more.

For example, you can rent a one-bedroom apartment in the Laureles neighborhood (a neighborhood Lief and I explored and found to be safe, pleasant, and up-and-coming…a very good budget choice compared with more central and more discovered El Poblado) for as little as 850,000 pesos a month, maybe less. At the current exchange rate, that’s about US$227.33.

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Apartment Or House Ownership Budget (For A Couple)

ExpenseMonthly CostsNotes
Mortgage
HOA FeesCOP$350,000Variable depending on the building.
Property TaxesCOP$235,000Annual charge.
TransportationCOP$425,000Single ride on the subway: COP$2,550 per person. Average taxi fare: COP$30,000.
Utilities (Gas, Water, Electricity)COP$225,000Bundled together. There’s no need for air conditioning in Spring City. Price depends on estrato.
Cell PhoneCOP$100,00030-day package with data from Claro.
InternetCOP$150,000200 Megas with Claro.
Cable TVCOP$74,000TV Digital Plus plan from Claro.
Household HelpCOP$200,000COP$50,000 per week for cleaning.
EntertainmentCOP$2,000,000Monthly cost for eating out twice a week: COP$440,000 (COP$15,000 per COP$40,000 per meal).
Monthly cost for drinks twice a week: COP$272,000 (COP$5,000 to COP$8,000 for a beer; COP$25,000 to COP$30,000 for a cocktail).
Movie theater trip twice a month: COP$40,000 (COP$10,000 per ticket).
GroceriesCOP$1,750,000Shopping mostly at Éxito.
Gym MembershipCOP$225,000One-month membership for two in a local gym. Deals available for longer-term contracts.
Medical AppointmentCOP$72,500A basic doctor or dentist visit paying out of pocket.
TOTALCOP$5,806,500

Apartment Or House Rental Budget (For A Couple)

ExpenseMonthly CostsNotes
RentCOP$3,000,000For a furnished one-bedroom apartment in Poblado or Laureles.
TransportationCOP$425,000Single ride on the subway: COP$2,550 per person. Average taxi fare: COP$30,000.
Utilities (Gas, Water, Electricity)COP$225,000Bundled together. There’s no need for air conditioning in Spring City. Price depends on estrato.
Cell PhoneCOP$100,00030-day package with data from Claro.
InternetCOP$150,000200 Megas with Claro.
Cable TVCOP$74,000TV Digital Plus plan from Claro.
Household HelpCOP$200,000COP$50,000 per week for cleaning.
EntertainmentCOP$2,000,000Monthly cost for eating out twice a week: COP$440,000 (COP$15,000 per COP$40,000 per meal).
Monthly cost for drinks twice a week: COP$272,000 (COP$5,000 to COP$8,000 for a beer; COP$25,000 to COP$30,000 for a cocktail).
Movie theater trip twice a month: COP$40,000 (COP$10,000 per ticket).
GroceriesCOP$1,750,000Shopping mostly at Éxito.
Gym MembershipCOP$225,000One-month membership for two in a local gym. Deals available for longer-term contracts.
Medical AppointmentCOP$72,500A basic doctor or dentist visit paying out of pocket.
TOTALCOP$8,221,500

Penny-Pincher’s Budget For Medellin (Bare Minimum Costs, For A Couple)

ExpenseMonthly CostsNotes
RentCOP$1,250,000Basic one-bedroom in a local area outside Poblado and central Laureles.
TransportationCOP$125,000Frequent use of free bikes and bus and subway rides, few taxis.
Utilities (Gas, Water, Electricity)COP$125,000Lower bills if located in estratos 3 to 4.
Cell PhoneCOP$30,0003Cheapest monthly plan from Claro.
InternetCOP$75,000Cheapest monthly plan from Claro.
Cable TV
EntertainmentCOP$265,000Monthly cost for eating out twice a week (street food and “menus of the day”): COP$160,000 (COP$8,000 to COP$12,000 per meal.).
Monthly cost for drinks twice a week: COP$105,000 (COP$5,000 to COP$8,000 for local beers).
GroceriesCOP$500,000Shopping at local markets and avoiding imported goods.
TOTALCOP$2,370,000

Life In Colombia – Average Costs For Everyday Items in COP:

  • Beer: 4,000 – 15,000
  • Glass of wine: 8,000 – 15,000
  • Cocktail: 10,000 – 30,000
  • Black coffee: 3,000 – 9,000
  • Sandwich: 5,000 – 25,000
  • Lunch: 8,000 – 30,000
  • Dinner: 10,000 – ???
  • Car insurance: 244,133/month
  • Gasoline: 110,000/month
  • Maintenance: varies
  • Parking: minimal on the street (1,000 – 6,000/event)
  • Medical appt.: 195,000 without insurance

Click here for currency conversion at today’s exchange rate.

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Map Of Medellin, Colombia

Infrastructure In Medellín, Colombia

Medellín has a First World environment.

Medellin boasts well-maintained roads and drinkable water along with dependable phone service, electricity, and high-speed Internet.

For example, you’ll find shopping galore, from mom-and-pop stores to upscale boutiques to a number of large, modern shopping malls. The banks and financial services are solid and dependable.

Climate In Medellin

The weather in Medellin is perfect. Perched at an elevation of 5,000 feet (1,500 meters), it enjoys beautiful weather all year, with warm, balmy days and cool, pleasant nights.

The average daytime high is 79 degrees Fahrenheit and the low is 63, with only one degree of seasonal variation. I like to say that Medellin is “room temperature” every day, all year.

Colombia - FAQs

Is Colombia A Retirement Haven?

Yes. Colombia is already very affordable by North American standards. For instance, the dollar is strong against the Colombian peso, so everything comes at a further discount.

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