People thinking about moving to Ecuador often choose this South American country for its stunning views of naturally occurring forces like the Andes Mountains, the Amazon Rainforest, and the Pacific Ocean.
One of Ecuador’s most unique features is that it is one of the few countries in the world where the equator passes through near the capital of Quito.
Americans considering relocating to Ecuador will be happy to know that the local currency is USD, which eliminates the need to calculate currency conversions to measure the regional costs of living.
Our guide provides an in-depth overview of 10 of the cheapest places to live in Ecuador by cost of living.
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Breaking Down Ecuador’s Cost of Living
One of the primary drivers of newcomers to the Land of Eternal Springs is its meager cost of living compared to living in the US.
Online data reports from global providers like Numbeo show that living in Ecuador saves some Americans up to 80% on everyday costs of living.
The cost of living in Ecuador’s cheapest cities allows local homeowners and renters to live in a virtual paradise on a dime.
A family of four can expect to spend just under $2000.00 per month before expenses.
A single person living in Ecuador can expect to pay just over $500.00 per month before rent or mortgage payments.
The 10 cheapest places in Ecuador offer lower expenditures on everyday costs, including some of the following:
- Apartment Rentals
- Home Buying
- Buying Groceries
- Paying for Childcare
- Educational Expenses
- Transportation Expenses
- Leisure Expenses
- Healthcare
- Average Rent 1-3 Bedroom Apartment: $350.00 – $608.40 per month.
10 Cheapest Places to Live in Ecuador
Now that you have an idea of what local housing costs could look like for you and your family in Ecuador, let’s dive into some of the cheapest places to live near the Equator line.
The cities below represent low-cost and affordable housing options for apartment rentals, home purchases, and other housing-related expenses.
Newcomers to Ecuador will find that the most affordable cities are distributed throughout the country.
Some of the inexpensive living options below are landlocked yet within driving distance of the coast, while others offer unprecedentedly affordable beachfront living for a fraction of the costs of what home hunters would pay in the US.
1. Ambato
Newcomers to Ecuador will find some of the country’s lowest and most favorable apartment rental and homebuying rates in the interior city of Ambato, near the Central Andean region.
Ambato is known for offering lower housing costs than many of its South American neighbors like Quito and Guayaquil.
Local apartment seekers can find a one—to three-bedroom apartment for less than $300.00 per month in this city of agricultural trade with tons of local outdoor amenities.
Homebuyers looking to settle down in Ambato will find home prices averaging at less than $100.00 per square foot.
Average Rent 1-3 Bedroom Apartment: $350.00 – $608.40 per month.
2. Bahía de Caráquez
Situated on Ecuador’s coast, Bahía de Caráquez is a charming town where locals can enjoy a luxurious three-course meal for two at a local restaurant for less than $50.00.
Families with kids can afford to pay for private school education at less than $300.00 per month per child.
Locals know Bahía de Caráquez for its relaxed atmosphere and affordable costs of living that draw in tourists-turned residents upon realizing that they can indeed afford to live in paradise.
This coastal Ecuadorian city offers beachfront living at a price most renters and homebuyers can afford.
Average Rent 1-3 Bedroom Apartment: $200.00 – $1,000 per month.
3. Cuenca
New York City transplants can save almost 100% of their average annual rent costs by renting an affordable apartment in Cuenca, Ecuador.
Rental and home-buying prices are reported to be 90% less than what typical New Yorkers pay for rent on a small one—to three-bedroom apartment.
All other everyday expenses are lower than average US costs for food, transportation, and everyday essentials that would typically break the bank.
Americans looking to take up residence in Ecuador can find a comfortable three-bedroom apartment for less than $700.00 per month.
Average Rent 1-3 Bedroom Apartment: $332.50 – $671.43 per month.
4. Ibarra
Expats and newcomers seeking to save on everyday expenses can live the high life in Ibarra, where they can splurge on a dinner for two for less than forty dollars.
Locals in Ibarra combine luxury with affordability, where most costs for food, transportation, leisure, and housing are low, and natural formations, beauty, and cultural landmarks abound.
Ibarra residents can live comfortably when they rent or buy a home or apartment where all utilities, including high-speed internet, total up to less than $100.00 per month.
Average Rent 1-3 Bedroom Apartment: $158.33 – $300.00 per month.
5. Loja
If you’re looking for a place to call home where a pleasant local climate and relaxed lifestyle are the standard, consider Loja, Ecuador.
Americans and expats looking to stretch their hard-earned dollars can take advantage of low prices on food, entertainment, leisure, housing, services, education, and almost every other essential daily need when living in Loja.
Local housing costs are extremely low in comparison to US rents, where Loja residents pay between $250.00 and $500.00 per month to rent a one-, two-, or three-bedroom apartment.
Average Rent 1-3 Bedroom Apartment: $250.00 – $500.00 per month.
6. Manta
Manta offers another option for affordable coastal living in Ecuador.
The cost of most goods and services is inexpensive, and the cost of living is low.
This seaside city has some of the most beautiful beaches in the region and lower housing costs than many other waterfront cities in Ecuador.
Apartment hunters can find rentals in this city starting at as low as $338.00 per month to $1,238.00 per month for one-, two-, and three-bedroom apartments inside and outside of the city center.
Average Rent 1-3 Bedroom Apartment: $250.00 – $500.00 per month.
7. Portoviejo
Portoviejo, Ecuador, residents enjoy local luxuries and amenities that include affordable leisure, dining, and housing near the coast.
People living in Portoviejo pay lower costs for groceries, transportation, and apartment rentals in this commercially driven city, where rent starts as low as $250.00 per month for a one-bedroom apartment.
Heating, cooling, and must-have utilities like phone and internet service are very affordable in Portoviejo, with the total cost of all services adding up to just over $100.00 per month.
Average Rent 1-3 Bedroom Apartment: $250.00 – $750.00 per month.
8. Riobamba
Riobamba residents make the list of the cheapest places to live in Ecuador as one of this South American country’s lowest-cost options.
Costs for housing, food, entertainment, leisure, and healthcare are lower than in almost every other Ecuadorian city.
House hunters can rent an apartment in Riobamba for less than $250.00 per month for up to three bedrooms.
Riobamba is a sought-after and affordable Ecuadorian city with breathtaking views of the Andean Highlands and the Chimborazo Volcano, as well as housing prices that rival those of many local and international cities.
Average Rent 1-3 Bedroom Apartment: $250.00 – $750.00 per month.
9. Vilcabamba
Vilcabamba is a small town nestled in the Andes mountains that offers affordable living options for couples, singles, and families.
With all expenses included, the cost can be as low as $1,500.00 per month.
With such affordable housing options and low-cost local amenities, there is no wonder why retirees and expats are seeking to make Vilcabamba their permanent home.
This small town is known for promoting a laid-back atmosphere and beautiful landscapes, along with offering rock-bottom prices for apartment rentals and home purchases.
Average Rent 1-3 Bedroom Apartment: $333.33 – $608.33 per month.
10. Zamora
Zamora, Ecuador, is a nature lover’s delight, offering affordable living for newbies settling down in South America.
The low costs of living in Zamora include affordable housing and transportation, as well as jaw-droppingly low food prices.
Zamora’s residents save money on everyday staples like bread, milk, and produce when compared to similar goods in the US.
They also pay lower costs for everyday essentials, including housing, utilities, transportation, and childcare.
Average Rent 1-3 Bedroom Apartment: $250.00 and up per month.
Ecuador Safety Overview
READ THE FULL REPORT: Ecuador Safety Review
Safety Index:
- OVERALL RISK: MEDIUM
- TRANSPORT & TAXIS RISK: MEDIUM
- PICKPOCKETS RISK: MEDIUM
- NATURAL DISASTERS RISK: MEDIUM
- MUGGING RISK: HIGH
- TERRORISM RISK: LOW
- SCAMS RISK: MEDIUM
- WOMEN TRAVELERS RISK: LOW
Frequently Asked Questions
What is the Cost of Living in Ecuador?
Americans thinking about moving to Ecuador will be pleasantly surprised to learn that the costs of living in Ecuador are much lower than living in the US.
Online housing data reports show that people living in the cheapest cities in Ecuador can pay up to 90% less for renting an apartment or buying a home compared to their counterparts living in major US cities like NYC.
A family of four can live comfortably in many cities in Ecuador for around $2,000,00 per month or less.
Renters and homeowners reduce these costs by choosing lower-cost rentals and purchases over luxury homes and apartments.
Do I Need a Visa to Live in Ecuador?
US residents seeking to relocate to Ecuador should know that they can visit the country for between three and six months with a valid passport and tourist stamp.
Visitors who want to become residents will need to complete an application for temporary or permanent residency with the local Visa-issuing authority.
Is Ecuador a Safe Place to Live?
The US State Department maintains a level two travel safety alert for Americans visiting the country of Ecuador.
While levels of crime and violence against tourist varies by region, newcomers need to note that this country is prone to outbreaks of civil unrest, and there are dangerous areas along its shared border with Colombia.
People thinking about visiting or moving to Ecuador should thoroughly research crime statistics and police reports for the cities and towns they are planning to visit.
