Cheapest Cities Near Lima (2026)

Lima has a cost of living index of 40 (US avg = 100). Here are 8 more affordable metros to consider as alternatives.

More affordable alternatives

1
Phnom Penh, KH25% cheaper
COL: 301BR: $350/moSave $150/mo on rent
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2
Buenos Aires, AR25% cheaper
COL: 301BR: $400/moSave $100/mo on rent
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3
Oaxaca, MX20% cheaper
COL: 321BR: $400/moSave $100/mo on rent
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4
Da Nang, VN16% cheaper
COL: 341BR: $350/moSave $150/mo on rent
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5
Medellín, CO13% cheaper
COL: 351BR: $500/moSave $0/mo on rent
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6
Marrakech, MA13% cheaper
COL: 351BR: $430/moSave $70/mo on rent
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7
Hanoi, VN8% cheaper
COL: 371BR: $450/moSave $50/mo on rent
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8
Cebu City, PH8% cheaper
COL: 371BR: $400/moSave $100/mo on rent
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Lima at a glance

40
COL index
100 = US avg
$500
1BR rent
per month
—
Home price
median
None
State tax
income

Cities with similar cost of living

Cape Town, ZACOL: 40Cartagena, COCOL: 40Tbilisi, GECOL: 41Chiang Mai, THCOL: 39

COL index sourced from Numbeo, Zillow, and BLS data · Q1 2026 · For general guidance only