Buenos Aires Expat Cost of Living: Is $1000 USD Enough in 2024?

Updates On Expat Life in Buenos Aires Argentina

Updates On Expat Life in Buenos Aires Argentina

Today, I’m here to answer the question,

“Is $1000 a month enough for an expat to live comfortably in Buenos Aires?”

However, if you are already familiar with Nomadic FIRE’s cost of living guides and already know the history of Argentina’s economic rollercoaster, you can get to the the budget details by clicking here.

Why $1000 is no longer a realistic budget

Well, to answer that, you need a brief overview of Argentina’s recent economic history. On Dec 13, 2023, less than a couple weeks before Christmas, newly-elected President Milei made a bold move by significantly devaluing the Argentine Peso (ARS) by 50%, from 366 to 800 pesos per dollar. Families literally woke up that morning to find that the cost of their kids’ Christmas gifts had doubled overnight.

Fast forward to today, and it’s been over half a year since the new president took power and the Argentina Senate just recently passed his massive economic reform bill in June. I’m not going to comment on another country’s politics and say whether this was good or bad, but it suffices to say that the effects have been turbulent. 

Even in the short time we have been here, the volatility of the cost of living is shocking. Sure, prices are up everywhere in the world. It is one thing to read about Argentina’s inflation hitting 271%; it’s another thing to watch your grocery bill double in just a few months.

And I begrudgingly complain about prices because I fully grasp my position of privilege as an expat. My monthly retirement income is in a stable currency like the US dollar. If foreigners complain about prices, it is difficult to imagine how locals cope with the country’s economic crisis.

Getting To Know Buenos Aires

Best Neighborhoods For Expats Living In Buenos Aires

Palermo Soho: Buenos Aires’ Hipster Central– This is the go-to neighborhood for foreigners and trendsetters in Buenos Aires. Palermo Soho isn’t just a place to live; it’s a lifestyle that blends the city’s creative charm with modern urban living. Imagine strolling down cobblestone streets lined with colorful murals. You can pop into unique shops during the day and then hit up chic cafes for that perfect afternoon coffee or mate. And when the sun goes down, Plaza Serrano comes alive with bars and clubs, buzzing with energy.

If you’re an expat, this is a great spot to meet new friends and experience the energy, street art, and social life that make expat life in Buenos Aires so much fun.

Palermo Hollywood: A Food Lover’s Paradise- Now, if you’re a foodie, you’ll want to head over to Palermo Hollywood. This neighborhood is my FAVORITE Buenos Aires barrio and a dream come true for anyone who loves to eat. It has some of the city’s best international restaurants, including a ramen house, a Thai street food bistro, and a Korean BBQ grill. It’s a bit quieter than Soho, but at night, the area turns into a cozy spot for bars and live music venues, making it perfect for a laid-back evening.

Recoleta: European Charm in Buenos Aires- Buenos Aires is often dubbed “the Paris of South America.” Barrios like Recoleta are why. Picture wide, tree-lined avenues and stunning European-style buildings. Make sure to check out the Recoleta Cemetery, where Argentina’s most famous figures rest in beautifully crafted mausoleums. Also, don’t skip the Museo Nacional de Bellas Artes for some world-class art.

Belgrano: Local Vibes and Affordable Living– If you’re looking for a more local experience, Belgrano might be your place. I love this neighborhood for its parks! Every morning, I’d stroll through Barrancas de Belgrano Park and watch yoga classes or tango events under the rising sun. The area around Chinatown is packed with delicious Asian restaurants and markets. It’s a bit quieter and has less English spoken, but it’s perfect for those wanting affordable living without straying too far from the action.

INSIDER TIP: Avoid living in San Telmo due to safety concerns. By day, San Telmo is lively and full of character, especially on Sundays with the massive market. But at night? It can get a little sketchy. I’ve heard plenty of expats saying it’s safe, but locals will tell you to avoid it after dark. Better safe than sorry!

Traveling To Buenos Aires

Buenos Aires has three passenger airports. Most international flights arrive at Ministro Pistarini International Airport, also known as EZE or Ezeiza Airport. EZE is about 30 KM or 18 miles from Palermo or Recoleta. The city’s subway or Subte doesn’t run to the airport, so the best way to get to the city center is by Uber, Taxi, or bus.

Monthly Costs living in Buenos Aires

With the history out of the way, let’s discuss the cost of living calculations. Nomadic FIRE has a unique methodology for comparing expat budgets in different cities. Our process details the specific prices and standardizes cost calculations so that when you compare the cost of living in Buenos Aires with the cost of living in Merida, Mexico, you get as close to an apples-to-apples comparison as possible. It’s unfair to compare a tiny $500 studio in Mexico to a $1000 two-story penthouse in Argentina. 

You can find details on our cost of living methodology here.

For Buenos Aires, here are the lifestyle assumptions I’m using:

• Housing: Renting a Furnished 1-bedroom Loft in Palermo Hollywood
• Food: Eating out 50% of the time
• Entertainment: Social Life at least once per week.
• Transportation: Primarily a mix of walking + metro
• Affordable Luxuries: Biweekly Massages and Weekly House cleaning  
• Health Insurance: $50
• Personal Care + Misc: $50 What is not included: Taxes and Travel

What Is A Realistic Cost of Living In Buenos Aires

My monthly budget, using the latest costs, rounds up to $1500 per month for one person. While rent expenses can be split, the estimates here for food, entertainment, and healthcare are for ONE PERSON ONLY.

Let’s cut to the chase—that kind of lifestyle in Buenos Aires blows past one thousand dollar. A $1000 just doesn’t stretch as far as it used to in Buenos Aires. 

Now, you may find some budget expats or local Portenos saying they spend significantly less than that. They’ll cite examples of lower-cost housing in neighborhoods outside the “expat bubble.” They’ll talk about shopping at cheaper markets and eating out less. They may talk about saving money by cutting down on their social life.

I’m not making those sacrifices. When I look at cities to retire in, I want to enjoy a higher quality of life. I don’t want to take my life in the US,  and make it less enjoyable, all to save a few hundred dollars. 

Quality of Life On That Budget

Admittedly, my lifestyle in Buenos Aires is upper-middle-class. I live in a bigger apartment in my favorite neighborhood, Palermo Hollywood. I’m within walking distance of nightlife, cafes, international restaurants, and all the amenities that make expat life in Buenos Aires so unique. 

I eat out quite a bit. I’m not partying hard, but I go out every weekend and do something fun. At one thousand five hundred per month, I enjoy a standard of living that I couldn’t afford in the United States.

Let’s put that $1500 budget in perspective. 

Average Salaries In Buenos Aires

The median Salary of a Senior Software Developer in Argentina is roughly $1400 (dollarized using the Blue dollar rate).

The average salary of an attorney in Buenos Aires with 1-3 years of experience is about $1,100

While a heart surgeon clocks in an average salary of close to $1,550 

So, my monthly spending is 30% more than that of an attorney, just above that of a Software Engineer, and on almost par with someone who literally holds the fate of life and death. 

How do prices in Buenos Aires compare to the United States?

The cost of living in Buenos Aires is roughly 70% less than that in a medium-cost US city (Portland). You can see how the Top 4 essential costs in the US are housing, food, transportation, and healthcare. These 4 expenses make up nearly 67% of the average costs in a major city.

Comparing the average prices for a single person moving to Buesnos Aires from the US shows a potential savings of over $41,000 per year. An expat couple sharing a one-bedroom flat and splitting the food and entertainment expenses will save even more.

INSIDER TIP: Inflation in Argentina- Prices in Argentina are a roller coaster. It is one thing to read about Argentina’s inflation hitting 211%; it’s another to watch your grocery bill double in just a few months. The prices I’m showing in this article are current, but the country has the world’s highest inflation, so they are subject to change.

And I begrudgingly complain about prices because I fully grasp my position of privilege as an expat. My monthly income is in a stable currency like the US dollar. If foreigners complain about prices, it is difficult to imagine how locals cope with the country’s economic crisis.

Real Estate and Housing Cost in Buenos Aires

Housing on a $1000 a month budget

Alright, let’s break down the housing situation, shall we? The only way you can make a $1000 budget work is to cutting your housing costs significantly by:

1) Living outside popular expat areas into neighborhoods like Almagro, Caballito, or Villa Crespo.

2) Downsizing to a studio vs one-bedroom

3) Signing a one-year contract, which will come with more requirements

When I first arrived, I found a cheap one-bedroom apartment for $400 that straddled the border between Recoleta and Retiro. The location was within walking distance of Teatro Colon and the Recoleta nightlife and restaurants area. 

Housing on a $1500 a month budget

One Bedroom Palermo Loft

Let’s see what an upgrade looks like. For $800 in rent, you get an Instagram-worthy two-story Loft in Palermo Hollywood. It features a compact yet functional kitchen with an oven, coffee maker, and blender. 

The cozy living area includes a comfortable couch and a large TV with all your streaming options. The dining area opens up to a balcony that offers views of the communal garden and pool. Upstairs is an office space and a spacious bedroom with a massive bed larger than a king-size, measuring over two meters wide.

Behind the bedroom, you’ll find a walk-in closet and a modern bathroom. The apartment gets loads of natural light, which can be advantageous during the dreary and dark Buenos Aires winter months. This upgrade includes some nice amenities, including 24-hour security, a rooftop barbecue area, a laundry room, and even a small gym and sauna—though the gym equipment has seen some better days.Best of all, this apartment is in my favorite neighborhood- Palermo Hollywood. The building is just a block from Metro Line D, and within a 15-minute walk, I had some of the city’s best international restaurants and my favorite panadería (Spanish for bakery), which made fresh medialunas all day. 

Expat Food Budget In Buenos Aires

Ah, food. The reason many expats like me came to Argentina in the first place. Food in this city is some of the best in the world. However, food prices have increased over 28% just in the first three months of this year. Now The best way to control your food budget is to eat at home. 

Grocery Shopping Cost

I usually cook half my meals and eat out the other half. Expect to spend about $100-$200 a month on groceries. And no, that doesn’t include your specialty imported items. Remember, 

“Expat life is remarkably cheap. Imported life is shockingly expensive.” 

Stay local when you can. 

Here’s a quick breakdown of some staples I buy weekly to give you an idea :

• 1 lb of ribeye beef: $4
• 1 lb of chicken breast: $2.50
• 1 lb of apples: $0.75
• Dozen eggs: $2.50

INSIDER TIP: Local Markets- You can save by shopping shop at your local fruteria and carnicería. These neighborhood specialty shops are often cheaper than the big supermarkets, and the quality is usually better. 

Cost of Restaurants In Buenos Aires

Buenos Aires has a superb restaurant scene, including several international dining options for when you are tired of steak. Some of my favorites include: 

• Cang Tin for really close to authentic Thai and Vietnamese street food. The pho isn’t my favorite (they need to cook the broth longer), but the koh soi ($20) and bahn xeo ($6) are fantastic.
• Sudestada- this is another menu del dia spot. You can choose from three Asian fusion main dishes, a soup, and a glass of the famous Argentina Malec wine ($6- $7).
• Mirutaki Ramen offers quality Japanese food at reasonable prices. This is right in my neighborhood, so I like stopping in for a bowl of Tonkotsu  ramen($10) and ten pieces of nigiri sushi ($9).
• And my favorite—KBBQ Parrilla Coreana, which has All-You-Can-Eat Korean BBQ. I can gorge myself on grilled meats, spicy side dishes, and bomb sauces for under $20. 

How much does it cost to eat out in Buenos Aires City?

If you would rather eat out than spend your time cook, cleaning, and washing dishes, Buenos Aires is gonna make you happy. I eat out for 50% of meals and still keep within my food budget.

Want an example of a tasty Argentine snack you can get in every neighborhood in Buesnos Aires for just $1? Check out the budget eats option below. 

Cheap Eats in Buenos Aires

Buenos Aires doesn’t really have street food, but it is hard to beat empanadas for cheap eats. Empanadas are an Argentine institution. These handheld pastries are filled with beef, chicken, or cheese. In Argentina, each region boasts its unique recipe, with variations in fillings and dough. These pastries are typically baked or fried. You’ll see these eaten at family gatherings, festivals, or just as a quick bite.

My favorite is La Pulpería de Francisco in Palermo Hollywood. I’ve eaten empanadas at dozens of places in the city and this is still my favorite.

Budget Mid-Range Restaurants in Buenos Aires

Inflation has hit restaurants as well. A menu del dia at a decent local mid-range restaurant USED to be roughly $4-$5. This was a 3-4 course meal with salad, appetizer, main course, dessert, and a glass of that famous Argentina red wine. That same menu del dia restaurant will now run you about $6-$7. 

Fine Dining Options in Buenos Aires

And that legendary Argentine steak? Well, Hierro is one of my go-to Argentine parilla. I can get a 1.5 pound ribeye steak big enough to share for $30 US Dollars. But if you want to splurge and enjoy the Michelin Star experience of Don Julio, prepare to sell a kidney because a 500-gram ribeye will set you back almost 70000 pesos, which is over $50. 

Speaking of splurge, Buenos Aires has you covered. There are 71 Michelin-rated restaurants, including 7 with a coveted Michelin star in Buenos Aires. But one of my favorite splurge meals isn’t even steak; it’s sushi.

Maru Omakase is in a secret location in Palermo. They only seat 12 people, so the sushi chef and assistant are focused on slicing, dicing, and preparing your fish immaculately. 

There is no menu. The sushi chef makes a personalized menu based on what is in season. Omakase literally translates to “I leave it to you.” 

We enjoyed a 10-step sushi tour starting with two sashimi, six nigiri, and a tamago, followed by 2 temaki hand rolls and miso soup to finish. I can’t remember all the different types, but they included seam bream, eel, squid, scallops, prawns, trout, salmon belly, tuna, and mackerel. 

My parents lived in Tokyo for 5 years and even they loved it. So Maru is mom and dad approved. 

Entertainment Budget In Buenos Aires

Monthly Entertainment Budget = $50

Buenos Aires is known to have some of the best nightlife in Latin America. People have dinner at 10 PM, start pre-gaming at midnight, then hit the clubs until 4 AM the next day, then go to an after party to key hopping until 7 AM. If this sounds like a good time to you, I hate to tell you that there is now way paying for cocktails and club cover fees on a $1000 budget.

But honestly, that isn’t me either, even with my one thousand five hundred dollar budget. My mind may be young, but my body feels all of my 50 years. I’m not much of a club-goer anymore, but I still want to stay social. In Buenos Aires, I allocate roughly $50 for my entertainment budget, which is spent on activities more suited for the retired 50 year old I am.

Example and cost of entertainment and sporting activities 

Two other fun and free things to do in Buenos Aires are people-watching in the La Boca neighborhood of El Caminito and practicing your best tango pose. This place is basically an open-air museum. In addition to the colorful buildings, you’ll find dance performances and a chance to practice your best tango pose.

On Sundays, San Telmo blocks off Defensa Street and turns it into a massive and chaotic market. You’ll find local crafts, mate cups, leather goods, jewelry, local artwork, clothes, and more. Yes, there’s some repetition, but the quality and variety are top-notch. 

Feria de San Telmo is the biggest street event I’ve ever seen! No joke, stalls stretch for at least 15 city blocks, maybe more. Sometimes is hard to see where the crowd ends. There are so many people—locals and tourists alike—so if crowds aren’t your thing, you might want to brace yourself.

We usually come here once a month or so because it’s a fun place to walk around, grab a bite to eat, and enjoy a lazy Sunday.

INSIDER TIP: San Telmo Safety- Keep your wallet secure and your bags tight, and be cautious when waving your phone around. San Telmo is notorious for petty theft, pickpockets, and phone snatchers. 

Transportation Cost In Buesnos Aires

Monthly Transportation Budget = $50

Let’s talk about transportation costs in Buenos Aires. The transportation system here blows away almost any city I’ve been to in Latin America outside of CDMX. The Sunday market I mentioned a couple minutes ago, going from our apartment in Palermo to San Telmo is less than a $1 on the subway. 

That’s a 7-mile 12 km ride for less than a buck. Not in the mood for public transportation, you can call an Uber or Didi and get home for about $4. 

I have a budget of $50 a month for transportation here, but I rarely use the entire amount. Our apartment is an easy walk to the Subte line and bulk tickets can get as cheap as forty cents a ride. Plus if you live in Palermo Hollywood, Palermo Soho, or Recoleta, you can walk to everything you need, including bars, restaurants, and markets.

INSIDER TIP: Walkability- Buenos Aires has a flat, pedestrian-friendly design that makes it easy to navigate. There are no confusing twists, turns, or dead ends when running errands. The neighborhood features a straightforward grid layout of streets, which makes exploring on foot enjoyable.

Expat neighborhoods like Palermo combine this easy navigation with wide sidewalks and charming tree-lined cobblestone streets, perfect for leisurely walks and or daily errands.

Monthly Healthcare Budget = $50

If you are only staying in Argentina for a few months, a low-cost travel medical policy can cover any unexpected accidents or illnesses. Travel health plans for expats under 50 can start at around $50 US per month.

However, if you plan on moving to Buenos Aires permanently, more comprehensive expat health insurance is recommended.

 INSIDER TIP : Healthcare Coverage Abroad- Most health insurance will not cover you for any injuries sustained outside your home country. To get protection while living abroad, there are two options:

• Travel Health Insurance– This will cover you for unexpected medical issues while overseas. However, the coverage requires you maintain insurance in the United States or your respective home country. I pay roughly $50 per month for complete coverage with no deductible.
• Expat Medical Insurance– If you retire abroad, expat health insurance is a more complete option. Expat Medical Insurance is the “normal” insurance you are familiar with to from home. Coverage is built for people who live in a country versus traveling. While more expensive than Travel Medical Insurance, premiums are still cheaper than the US. 

Other Miscellaneous Costs

At a $1500 a month budget, there are a few splurge items and affordable luxuries I can spend money on that make expat life in Buenos Aires more convenient or more enjoyable.

INSIDER TIP: Shockingly Expensives Imported Goods- Not everything is affordable in Buenos Aires. Remember when I said that Expat life is remarkably cheap, but Imported life is shockingly expensive? I don’t just mean getting your favorite box of Lucky Charms for breakfast. I can change breakfast cereals, no problem. 

But what about having to replace your laptop or cell phone? Well, prepare for sticker shock. An iPhone from a local authorized Apple reseller costs over $2500 US dollars. The same iPhone bought in the US was only $999. Yikes. 

Remember, Buenos Aires is notorious for cell phone snatching, so unless you want to lose a small fortune, keep your phone hidden when you’re not using it, then hold the phone close to your body and turn to the side of a building when checking directions or answering a quick text.