Ever dreamed of packing up and moving to Europe? It’s a romantic notion, and while it might feel unrealistic or just short of a pipe dream, those lush landscapes and alluring architecture could be closer than you think.
To examine the cost-of-living comparisons between America’s 50 states and European countries, SmartAsset studied the data for basic monthly costs for one adult in 2023.
The goal was to find which of the 38 European countries would reflect most similarly to each American state, boiling down to the last dollar.
The Euro is More Valuable Than The Dollar
The euro has, for the most part, eclipsed the American dollar for the entirety of its existence.
It held strong from December 2002 to July 2022, maintaining a value higher than the American dollar. However, it then declined against the dollar due to recession fears and the crisis stemming from the Russia-Ukraine war.
And while the value currently sits at 1.07 USD, overall, the two currencies are somewhat comparable.
Most Expensive States And Their Closest European Counterpart
To analyze cost of living comparisons, first, the cost of living must be determined.
According to SmartAsset, the most expensive states to live in are Hawaii, California, New York, and Massachusetts.
With an estimated basic monthly cost of about 3,140 dollars for one adult, the most expensive four states were comparable with just one European country: Denmark.
Recorded as one of the happiest and most peaceful countries in the world, Denmark offers a beautiful landscape, culture, and history. And for the same price for a poky apartment in West Village, what’s to say a studio in Copenhagen is out of the question?
Least Expensive States And Their Closest European Counterpart
If 3,000 dollars feels out of your price range, other options are available.
SmartAsset recorded the most inexpensive American states as Kentucky, Arkansas, Mississippi, and Oklahoma, all of which settled with an average monthly cost of approximately 2,290 dollars. These states have a comparable cost of living to a single adult living in Belgium.
And though you may have to learn one of Belgium’s three national languages (French, Dutch, or German), there remains a wealth of experiences and attractions to enjoy throughout the country.
Belgium, though small, hosts the capital of the European Union, Brussels. Steeped in rich history and adorned with medieval castles and architecture, Belgium is also renowned as a haven for chocolate, waffles, and beer.
Mid-Range Comparisons
SmartAsset additionally found that middle-of-the-range states like Vermont, Maine and North and South Carolina were comparable with living in Germany.
Other states, like Nebraska and Michigan, found equal ground with the small nation of Malta.
Finland would be an apt comparison for Texas, the second-largest state in the U.S., with an average monthly cost of 2,555 dollars.
Cost-of-Living Gap
The cost-of-living gap in Europe is far larger than that in the United States.
While the gap between the most expensive and cheapest states in America (Hawaii and Kentucky) is under 2,000 dollars, Europe presents a stark contrast.
Switzerland, Europe’s priciest country, has a monthly cost of 4,059 dollars, whereas Bosnia, the least expensive, requires only 900 dollars monthly. This creates a disparity exceeding 3,000 dollars.
Europe Is Cheaper
Ultimately, Europe is cheaper, with 26 countries costing less per month than America’s most inexpensive state of Kentucky.
That means France, Spain, Sweden, and even Italy are softer on the wallet for the budget-conscious. What’s not to love about that?
This article was produced by TPR Teaching.
Caitriona Maria is an education writer and owner of The Facts Institute. A teacher for seven years, she has been committed to providing students with the best learning opportunities possible, both domestically and abroad. Dedicated to unlocking students' potential, Caitriona has taught English in several countries and continues to explore new cultures through her travels.