10 Top Countries Where It’s Most Affordable To Raise a Family
Written by
J. Arky
Edited by
Zuri Anderson
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
The cost of raising a family feels like it gets more and more expensive with each passing year.
As the price of groceries, health services and childcare go up in the United States, it might be worth looking abroad for other countries that could be more suitable and affordable for raising a family.
A new study by Deluxe Holiday Homes analyzed 50 countries to determine the best destinations for raising a large family. The study calculated an affordability score based on six equally weighted factors: safety rate, cost of living for a family of four, average rent, average monthly net salary, education index, and healthcare quality.
A Deluxe Holiday Homes spokesperson commented on the study that “[f]inding the right environment to raise a family is about much more than just affordability. Families today are looking for places where they can feel safe, access quality healthcare and education, and enjoy a supportive community.
“Choosing a family-friendly country means looking at the bigger picture — how well a place can support a high quality of life while being financially accessible. Every family deserves a home where they can grow, connect and thrive.”
Here is what the research found to be the top 10 countries where it’s most affordable to raise a family:
10. Oman
Oman was found to be extremely affordable for families, with one of the lowest cost of living at $2,535.40 per month and exceptionally low monthly rent of $797.42. A perfect destination for families on a budget looking to live in a warm climate.
9. Slovenia
Slovenia earned top marks for safety, education and affordability. Coupled with a low cost of living of $3,004.30 a month, the study found that Slovenia offers a safe and affordable European lifestyle for families on a mid-range budget.
8. Denmark
Income and education are what makes Denmark stand out from other countries, but so does its higher cost of living. Luckily, the quality of life and modern amenities of the country can be afforded on the average monthly salary of $3,650.04.
7. Czech Republic
The cost of living in the Czech Republic is very low — about $2,713.40 a month for a family of four. It’s safe and affordable for families who are watching their spending.
6. Norway
Norway offers an average monthly salary of $3,309.38, top notch healthcare and a high education index (0.95). If you want you and your family to be well taken care of by the best doctors and teachers, Norway might be your new home.
5. Finland
Finland also provides its residents with top-quality education with an index of 0.96, as well as strong social support and cultural richness. It is the perfect European country for families who want to focus on maintaining a moderate cost of living each month of about $3,696.60.
4. Netherlands
Combining an outstanding education system with a 0.94 index rating and a monthly salary of $3,513.28, the Netherlands lets families afford a comfortable life with European accessibility, according to the study.
3. Japan
Japan has a low average monthly rent of $997.84 and cost of living $3,053.30. This island nation offers a stable, family-friendly environment with the perfect balance of budget with quality education, not to mention good public safety services.
2. United Arab Emirates (UAE)
Want secure living and a cosmopolitan lifestyle for your family? The UAE earns top marks for high income at $3,209.21 per month and high safety rate of 85, which makes it the highest on this list.
1. South Korea
When it comes to affordability, South Korea takes the top spot with a composite score of 97. The country is known for excellent healthcare, safety, as well as a reasonable average monthly rent of $1,230.57 and overall monthly living cost of $3,774.
It’s a nation known for high quality living at an affordable price for families.
More From GOBankingRates
