While the high cost of living frequently dominates conversations about economic issues, a low cost of living (excluding rent) provides African countries with distinct prospects and benefits.
This metric, which incorporates the cost of needs like food, transportation, utilities, and healthcare, has the potential to significantly improve residents’ quality of life while also supporting economic development and social equality.
A low cost of living allows families to put more money into savings, investments, and discretionary expenditures.
This is made more beneficial when rent is excluded. While rent constitutes a major part of any household’s necessary expenses, a large relief is felt when the cost of living is relatively low without considering rent.
Additionally, this factor helps attract foreign investors. Countries with a low cost of living are more appealing to investors and expatriates, who seek locations where operational and personal costs are manageable.
According to data from Numbeo’s Cost of Living Index (Excl. Rent), several African countries stand out for their affordability. This index measures consumer prices for groceries, dining, transportation, and utilities, excluding housing costs.
With that said, here are the African countries with the lowest cost of living, even without accounting for rent.
It’s important to note that Numbeo’s index does not focus on the continent as a whole, but rather on the main economic centers.
Top 5 African countries with the lowest cost of living excluding rent in 2024
| Rank | Country | Cost of living index (excl. rent) | Cost of living | Rent index | Global rank |
|---|---|---|---|---|---|
|
1. |
Egypt |
12.7 |
21.0 |
3.7 |
2nd |
|
2. |
Libya |
12.7 |
20.4 |
4.3 |
3rd |
|
3. |
Tanzania |
16.4 |
23.8 |
8.4 |
8th |
|
4. |
Madagascar |
16.5 |
24.5 |
7.8 |
9th |
|
5. |
Algeria |
16.9 |
28.9 |
3.8 |
10th |
