Which European country is most similar to Florida in terms of cost of living? SmartAsset, a consumer-focused financial information company, has done the math and come up with accurate comparisons for every state in the U.S.

SmartAsset discovered several key findings as it analyzed its data, which it sourced from MIT’s Living Wage Calculator. It found that despite the Euro being stronger than the U.S. dollar, the cost of living in the U.S. is significantly higher than in Europe.

Basic expenses for a single adult with no children in the U.S. is $2,508, compared to an average of $1,746 per month in Europe. While the average cost of living varies a decent bit by state in the U.S., the average cost of living in Europe varies significantly by country.

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In the U.S., the difference between the cheapest state to live in (Kentucky) and the most expensive (Hawaii) is about $892. The difference in Europe between the cheapest country (Bosnia) to live in and the most expensive (Switzerland) is a staggering $3,159.

Overall, however, the study found that it’s more expensive to live in the cheapest U.S. states than in most of Europe. There are 26 countries, including France ($2,240), Sweden ($2,100), Italy ($1,743) and Spain ($1,719), that have lower costs of living than Kentucky ($2,275), which is the cheapest state to live in.

How Florida’s cost of living compares to Europe

SmartAsset ranked Florida No. 12 in cost of living in the U.S., clocking in at $2,689 per month for one adult, which is $181 more than the average cost of living in the U.S.

The European with the closest cost of living is Liechtenstein, a tiny mountainous country between Switzerland and Austria, whose cost of living is $2693 a month for a single person.

Where is Liechtenstein?

Liechtenstein is a very small German-speaking country that is landlocked in the Alps between Austria in the east and north and Switzerland in the west and south.

How big is Liechtenstein?

Liechtenstein is the sixth smallest nation worldwide and still holds a semi-constitutional monarchy, which is led by Prince Hans-Adam II.

The population of Liechtenstein is estimated to be about 39,584. The country makes up an area of 62 square miles.

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Is Liechtenstein the richest country in the world?

No, Liechtenstein is not the richest country in the world. It’s not even in the top 20. The story changes when you compare countries by gross domestic product per capita, however, where Liechtenstein ranks No. 2, which held $169,049.20 GDP per capita based on 2019 figures.

Data and Methodology

Basic costs for a month for a single adult with no children in 2023 are compared across European nations and U.S. States. Data for the U.S. comes from MIT’s Living Wage Calculator and includes housing, food, medical, transportation and miscellaneous costs.

Self-reported European data comes from Expatistan.com and includes housing, food, clothing, transportation and personal care items. All currencies are converted into U.S. dollars based on September 2023 conversion rates.

Limitations: Basket of goods across Europe and the U.S. differ. All cost estimates come from self-reported data. Exchange rate fluctuations and other factors may affect cost comparisons.