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The World's Most Affordable Places to Retire

Granada, Nicaragua

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Granada has rapidly developed into a tourism hub, thanks to the city's preservation of its colonial-era architecture. Americans and Europeans have been snapping up homes for some time. The city may be the cheapest place in the world to retire and live well. A couple can enjoy sunsets over its red tile roofs and marvel at its blue-and-white church steeples for less than $800 a month.

Granada sits on the edge of Lake Nicaragua near the dormant volcano Mombacho. The expat community in this naturally beautiful setting is very close-knit, and English is spoken by almost everyone who lives and works in town.

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