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Monaco, Monaco

Follows Monaco Residency Rules. Check Digital Nomad & Retiree Pathways →
Est. Monthly Cost (1 Person)
$8,100
Retiree Score
81.0
Safety Index
92.5
Healthcare
8 facilities

With a population of just 38,423 and the world's highest nominal GDP per capita, Monaco is a tax haven for the ultra-wealthy, not a haven for the average person. Despite its picturesque setting on the French Riviera, the country's bureaucracy is a persistent headache, and even French citizens must still pay taxes to their home country. For those seeking a low-tax enclave and don't mind navigating the red tape, Monaco may be an alluring option, but it's hardly a realistic destination for the majority.

Can I afford Monaco?

$

Monaco

You would need

-5,100/mo

Savings Rate0%

Monthly Costs

Rent $6,000
Living (Country Average Adjusted)$2,100

Attractiveness Scores

FIRE Score
(i)
0/100
Retiree Score
(i)
81/100
Lifestyle Score
(i)
48/100
💻Nomad Score
(i)
50/100
Meets Monaco Digital Nomad Visa Income Rule.
93
Safety
8
Healthcare
100
Walkability
35
Nomad

Grocery Basket

Milk (1L) $2
Bread (loaf) *$4
Eggs (12) $5
Rice (1kg) *$2
Chicken (1kg) *$9

* Estimated based on regional averages.

Eating Out

Meal (Inexpensive) *$20
Meal (Mid-range) $173
Cappuccino $4
Water (0.33L) *$5

* Estimated based on regional averages.

Utilities & Lifestyle

Utilities (mo) $439
Mobile Plan (mo) $43
Gym (mo) *$240
Cinema Ticket $14

* Estimated based on regional averages.

Housing

1BR Center (mo) $2,400
1BR Outside (mo) *$2,467
3BR Center (mo) $5,600
3BR Outside (mo) *$3,848

* Estimated based on regional averages.

🧳 Expat Life

English Proficiency
Widely Spoken
Expat Community
Large & Active
Top Neighborhoods
Monte Carlo, Fontvieille, La Condamine
Best For
HNW individuals, finance professionals, retirees with significant assets

Expat Life Notes

Monaco is one of the world's premier expat destinations for ultra-high-net-worth individuals. No income tax, extreme safety, and a vibrant international scene.

Pros

  • ✓ Zero income tax
  • ✓ Extremely safe
  • ✓ World-class amenities and events

Cons

  • ✗ Astronomical cost of living
  • ✗ Wealth requirements to reside
  • ✗ Very small and can feel claustrophobic

🌐 Infrastructure & Lifestyle

Avg Internet
—
Temperature
—
Annual Rainfall
604 mm
Coworking Spaces
—
Best Months to Visit
Apr, May, Oct

Also Consider

La Condamine, MonacoAttractiveness Score: 40.8Monte Carlo, MonacoAttractiveness Score: 40.0

Frequently Asked Questions

FAQ

Frequently Asked Questions about Monaco

Click any question to expand the answer.

Monaco has a population of approximately 38,423 people.

A single person can expect to spend around $15,000 per month in Monaco, including rent. A 1-bedroom apartment in the city center costs approximately $6000/month.

The nearest airport to Monaco is LFMN, approximately 18km away.

Monaco is considered relatively safe, with a safety index of 92.5. As with any city abroad, expats should research specific neighborhoods before committing to a location.

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