Top 10 Most Cost-Effective Countries for Raising a Family

It seems like every year that the cost of raising a family increases.

Finding other countries that would be more appropriate and cost-effective for having a family might be worthwhile given the rising costs of groceries, healthcare, and childcare in the US.

To find the greatest places to raise a big family, Deluxe Holiday Homes conducted a recent study that examined 50 different nations. An affordability score was determined by the study using six equally weighted factors: healthcare quality, education index, average monthly net salary, average rent, safety rate, and cost of living for a family of four.

According to a Deluxe Holiday Homes representative, “[f]inding the right environment to raise a family is about much more than just affordability,” the report said. Families today are searching for communities that are supportive, offer high-quality healthcare and education, and make them feel protected.

“Choosing a family-friendly country means looking at the bigger picture — how well a place can support a high quality of life while being financially accessible. Every family deserves a home where they can grow, connect and thrive.”

The study determined that the following 10 countries have the lowest costs of raising a family:

10. Oman

With one of the lowest cost of living at $2,535.40 per month and incredibly low rent of $797.42 per month, Oman was deemed to be quite affordable for families. A great place for low-income families that want to live in a warm climate.

9. Slovenia

Slovenia received excellent ratings for affordability, education, and safety. According to the survey, Slovenia provides families on a mid-range budget with a safe and reasonably priced European lifestyle, especially when combined with a low cost of living of $3,004.30 per month.

8. Denmark

Denmark is different from other nations in terms of income and education, but it also has a greater cost of living. Fortunately, the average monthly salary of $3,650.04 allows one to afford the country’s modern conveniences and high standard of living.

7. Czech Republic

For a family of four, the cost of living in the Czech Republic is quite inexpensive, at around $2,713.40 per month. For families that are watching their budget, it is both economical and safe.

6. Norway

Norway provides excellent healthcare, a high education score (0.95), and an average monthly wage of $3,309.38. Norway could be your new home if you want the greatest medical doctors and teachers to look after you and your family.

5. Finland

In addition, Finland offers its citizens excellent social support, cultural diversity, and high-quality education (score of 0.96). Families who wish to concentrate on maintaining a moderate monthly cost of living of roughly $3,696.60 will find it to be the ideal European country.

4. Netherlands

According to the report, families may afford a pleasant living with European accessibility in the Netherlands thanks to its excellent educational system, 0.94 index rating, and $3,513.28 monthly pay.

3. Japan

The average monthly rent in Japan is a reasonable $997.84, and the cost of living is $3,053.30. This island nation provides excellent public safety services, a secure, family-friendly atmosphere, and the ideal balance between affordability and high-quality education.

2. The UAE (United Arab Emirates)

Do you want your family to live a safe and modern lifestyle? The UAE ranks highest on this list due to its high income of $3,209.21 per month and high safety rating of 85.

1. South Korea

With a combined score of 97, South Korea leads the world in affordability. The nation is renowned for its top-notch medical care, safety, and affordable average monthly rent of $1,230.57 and $3,774 for living expenses.