Medellín
The Cost of Living & Local Currency Guide for American Expats in Medellín, Colombia
Relocating to Medellín has become increasingly popular among American expats looking for affordability, culture, and a high quality of life. Understanding the cost of living and local currency (Colombian Peso – COP) is key to planning a smooth transition. This guide breaks down the essentials so you know what to expect financially.
Overview of the Local Currency
- Currency: Colombian Peso (COP)
- Symbol: $ (be careful—this symbol is also used for USD, so always confirm context)
- Exchange Rate: The rate fluctuates, but as of 2025, $1 USD ≈ 3,800–4,200 COP (always check real-time rates).
- Cash vs. Card: Credit and debit cards are widely accepted, but smaller shops, taxis, and rural areas prefer cash.
Tip: Withdraw COP from ATMs in reputable banks like Bancolombia, Davivienda, or BBVA. Avoid currency exchange booths at airports, as they often charge higher fees.
- Average Monthly Cost of Living in Medellín for Expats
The cost of living depends on lifestyle, but Medellín is significantly more affordable than major U.S. cities.
Housing (Monthly Rent)
- 1-Bedroom Apartment in El Poblado (expat hub): $600–$1,000 USD
- 1-Bedroom in Laureles or Envigado: $400–$700 USD
- Shared Apartment: $200–$400 USD
- Utilities & Internet
- Electricity, Water, Gas, Trash: $60–$120 USD
- High-Speed Internet (100 Mbps): $20–$40 USD
- Food & Groceries
- Local Market (fruits, vegetables, meats): $100–$150 USD per month
- Supermarkets (imported goods, specialty items): $200–$300 USD per month
Dining Out
- Local Meal (Menu del Día): $3–$6 USD
- Mid-Range Restaurant (2 people): $25–$40 USD
- Coffee at a Café: $1–$2 USD
Transportation
- Metro (per ride): $0.80 USD
- Monthly Metro Card: $30–$40 USD
- Taxi (short ride): $2–$4 USD
- Ride-hailing (InDriver, Uber, DiDi): $4–$8 USD
Healthcare
- Private Doctor Visit: $20–$40 USD
- Health Insurance (local EPS or private plan): $60–$150 USD per month
- Lifestyle & Extras
- Gym Membership: $20–$50 USD
- Co-Working Space: $80–$150 USD per month
- Cinema Ticket: $4–$6 USD
Estimated Total Monthly Budget:
- Budget Lifestyle: $800–$1,200 USD
- Mid-Range Lifestyle: $1,500–$2,200 USD
- Luxury Lifestyle: $2,500+ USD
- Banking & Money Tips for American Expats
- Open a Colombian Bank Account: If you’re staying long-term, Bancolombia and Davivienda are popular choices.
- International Transfers: Services like Wise, Remitly, or Xoom often have better rates than traditional banks.
- Avoid High ATM Fees: Some banks charge up to $5–$7 USD per withdrawal. Choose ATMs with lower fees and withdraw larger amounts at once.
- Cost of Living Compared to the U.S.
- Rent: 60–70% cheaper than in major U.S. cities.
- Food & Dining: 50–65% cheaper.
- Healthcare: 70–80% cheaper.
- Transportation: 60–75% cheaper.
- Helpful Resources for Expats in Medellín
- Expat Groups on Facebook & WhatsApp – great for sharing real-time cost updates.
- XE Currency Converter – for up-to-date exchange rates.
- Medellín Guru (Blog) – covers cost of living, neighborhoods, and lifestyle tips.
Final Thoughts
For American expats, Medellín offers a comfortable lifestyle at a fraction of U.S. costs. With the right budgeting and understanding of the Colombian Peso (COP), you can enjoy modern comforts, world-class healthcare, and a vibrant social life—all while saving money compared to living in the U.S.
Cartagena
The Cost of Living & Local Currency Guide for American Expats in Cartagena, Colombia
Cartagena, Colombia, is one of the country’s most vibrant coastal cities, attracting American expats with its colonial charm, Caribbean beaches, and lively culture. Before making the move, it’s important to understand the cost of living and local currency (Colombian Peso – COP) to budget effectively and enjoy your new lifestyle.
- Local Currency Overview
- Currency: Colombian Peso (COP)
- Symbol: $ (used for both COP and USD, so always check the context)
- Exchange Rate: As of 2025, $1 USD ≈ 3,800–4,200 COP (rates fluctuate, so verify regularly).
- Cash vs. Card: Credit and debit cards are accepted in most hotels, restaurants, and malls, but cash is essential for street vendors, taxis, and smaller establishments.
Tip: Use ATMs inside reputable banks like Bancolombia or Davivienda to avoid higher fees and ensure safety.
- Average Monthly Cost of Living in Cartagena for Expats
While Cartagena is more expensive than Medellín or Bogotá due to its tourist-driven economy, it is still affordable compared to the U.S.
Housing (Monthly Rent)
- 1-Bedroom Apartment in Bocagrande (expat/tourist hub): $700–$1,200 USD
- 1-Bedroom in Manga or Crespo (quieter expat areas): $500–$900 USD
- Shared Apartment: $250–$500 USD
- Utilities & Internet
- Electricity, Water, Gas, Trash: $80–$150 USD (air conditioning use increases costs)
- High-Speed Internet (100 Mbps): $25–$40 USD
Food & Groceries
- Local Market (fruits, fish, meats): $120–$200 USD per month
- Supermarkets (Carulla, Éxito, imported goods): $250–$350 USD per month
- Dining Out
- Local Meal (Menu del Día): $4–$7 USD
- Mid-Range Restaurant (2 people): $30–$50 USD
- Beachfront Restaurant (per person): $20–$40 USD
- Coffee at a Café: $1.50–$2.50 USD
Transportation
- Bus Fare: $0.80 USD
- Taxi (short ride): $2–$4 USD
- Ride-hailing (Uber, InDriver, DiDi): $3–$8 USD
- Monthly Transport Budget: $50–$100 USD
Healthcare
- Private Doctor Visit: $25–$50 USD
- Local Health Insurance (EPS or private plan): $60–$150 USD per month
Lifestyle & Extras
- Gym Membership: $25–$60 USD
- Co-Working Space: $100–$200 USD
- Cinema Ticket: $5–$7 USD
- Beach Club Day Pass: $20–$40 USD
Estimated Total Monthly Budget:
- Budget Lifestyle: $1,000–$1,400 USD
- Mid-Range Lifestyle: $1,600–$2,300 USD
- Luxury Lifestyle: $2,500+ USD
- Banking & Money Tips for American Expats
- Banking: Opening a local account with Bancolombia, Davivienda, or BBVA is recommended for long-term stays.
- International Transfers: Wise, Xoom, and Remitly often offer better exchange rates and lower fees than U.S. banks.
- ATM Withdrawals: Minimize fees by withdrawing larger amounts at once and using ATMs from major banks.
- Cost of Living in Cartagena vs. the U.S.
- Rent: 55–65% cheaper than Miami or New York.
- Food & Dining: 45–60% cheaper.
- Healthcare: 70–80% cheaper.
- Transportation: 60–70% cheaper.
- Helpful Resources for Expats in Cartagena
- XE Currency Converter – for updated exchange rates.
- Medellín Guru & Expats in Cartagena groups (Facebook/WhatsApp) – local cost-of-living insights.
- Numbeo Cost of Living Index – compare Cartagena with U.S. cities in real time.
Final Thoughts
For American expats, Cartagena offers a comfortable Caribbean lifestyle at a fraction of U.S. costs. While slightly more expensive than other Colombian cities, living by the sea, enjoying world-class cuisine, and accessing affordable healthcare makes Cartagena an attractive destination for retirees, digital nomads, and long-term expats alike.
Santa Marta
The Cost of Living & Local Currency Guide for American Expats in Santa Marta, Colombia
Santa Marta, located on Colombia’s Caribbean coast, is a favorite among expats who want a relaxed beach lifestyle with access to mountains, national parks, and nearby cultural towns. If you’re an American considering moving here, understanding the cost of living and local currency (Colombian Peso – COP) is essential to planning your budget and enjoying your new home abroad.
- Local Currency Overview
- Currency: Colombian Peso (COP)
- Symbol: $ (used for both COP and USD, so always confirm which currency is referenced)
- Exchange Rate: As of 2025, $1 USD ≈ 3,800–4,200 COP (rates vary daily).
- Payment Methods: Credit/debit cards are widely accepted in malls, restaurants, and larger supermarkets. Cash is still preferred at local markets, street vendors, and smaller family-run businesses.
Tip: Always carry small bills for taxis and markets. Large notes (50,000 COP) can be hard to break.
- Average Monthly Cost of Living in Santa Marta for Expats
Santa Marta is more affordable than Cartagena and on par with Medellín in some categories. It’s a mid-sized city where costs vary depending on lifestyle and location (historic center, El Rodadero, or beachfront neighborhoods).
Housing (Monthly Rent)
- 1-Bedroom Apartment in El Rodadero (expat-friendly area): $500–$900 USD
- 1-Bedroom Apartment in Historic Center: $400–$700 USD
- Shared Apartment/Room: $200–$400 USD
- Luxury Beachfront Condo: $1,000–$1,800 USD
Utilities & Internet
- Electricity, Water, Gas, Trash: $60–$120 USD (air conditioning adds to electricity bills)
- High-Speed Internet (100 Mbps): $25–$40 USD
Food & Groceries
- Local Markets (fruits, vegetables, seafood): $100–$180 USD monthly
- Supermarkets (Éxito, Olímpica, imported items): $220–$320 USD monthly
- Dining Out
- Local Meal (Menu del Día): $3.50–$6 USD
- Mid-Range Restaurant (2 people): $25–$40 USD
- Seafood Beach Restaurant (per person): $15–$25 USD
- Coffee at a Café: $1.50–$2.00 USD
Transportation
- Local Bus Fare: $0.70–$0.80 USD
- Taxi (short ride): $2–$4 USD
- Ride-hailing (InDriver, Uber limited in Santa Marta): $3–$6 USD
- Monthly Transportation Budget: $40–$80 USD
Healthcare
- Private Doctor Visit: $20–$40 USD
- Local Health Insurance (EPS or private plan): $50–$120 USD monthly
- Lifestyle & Extras
- Gym Membership: $20–$50 USD
- Co-Working Space: $80–$150 USD
- Cinema Ticket: $4–$6 USD
- Beach Club Day Pass: $15–$30 USD
Estimated Total Monthly Budget:
- Budget Lifestyle: $900–$1,200 USD
- Mid-Range Lifestyle: $1,400–$2,000 USD
- Luxury Lifestyle: $2,200+ USD
- Banking & Money Tips for American Expats
- Banking Options: Major banks include Bancolombia, Davivienda, and BBVA. Opening an account is easier if you have a visa and cédula (Colombian ID).
- International Transfers: Use Wise, Remitly, or Xoom for better rates and lower fees than U.S. banks.
- ATM Withdrawals: Withdraw at bank ATMs inside malls or branches for safety and to reduce fees.
- Cost of Living in Santa Marta vs. the U.S.
- Rent: 60–70% cheaper than Miami or Los Angeles.
- Food & Dining: 50–65% cheaper.
- Healthcare: 70–85% cheaper.
- Transportation: 65–75% cheaper.
- Helpful Resources for Expats in Santa Marta
- XE Currency Converter – daily exchange rate updates.
- Expats in Santa Marta (Facebook/WhatsApp groups) – real-time cost info and recommendations.
- Numbeo Cost of Living Index – compare Santa Marta with U.S. cities.
Final Thoughts
Santa Marta is one of the most affordable Caribbean cities for expats, with a slower pace than Cartagena and easy access to nature (Tayrona National Park, Minca, Sierra Nevada mountains). Whether you’re a retiree, digital nomad, or long-term traveler, the cost of living is far lower than in the U.S. and allows for a high quality of life on a reasonable budget.