In 2026, Bulgaria consistently ranks as the most affordable European country for retirees, especially those from North America or the UK. With a monthly budget of $1,000 to $1,400, a couple can enjoy a comfortable lifestyle including rent, high-quality local food, and healthcare. Bulgaria offers a specific "Pensioner D" visa, making residency relatively straightforward for those with a proven pension. Other top contenders for "cheapest" include Albania, which offers a Mediterranean climate without the high Eurozone prices, and Romania, known for its low property taxes and ultra-fast internet. For those who prefer Western Europe but still want value, Portugal remains a favorite; while more expensive than Bulgaria, its D7 visa and tax incentives for foreign residents make it highly competitive. Inland Spain and southern Italy also offer incredibly low costs of living in rural "white villages" where you can find homes for a fraction of the cost of coastal properties.