The 7 best affordable places to retire abroad

Cost of living: According to Expatistan, the average monthly rent for a 900-square-foot apartment, fully furnished, is around €780 ($857) a month. Numbeo reports that consumer prices, rent, restaurant prices, grocery prices, and local purchasing power are all higher in the United States than in Slovenia, with rent in the US about 134.04% higher than that in the Slovenia.

What Bled is known for: Located near the southern border of Austria, Bled is home to its eponymous lake and known for a "fairy-tale like" church which sits atop a rock island in the middle of the lake, Trip Advisor notes.

Cost of living: The cost of living in Chiang Mai is 54.40% lower than the cost of living in New York; the average monthly rent for a 1-bedroom apartment in downtown Chiang Mai is $389. The cost of living in Thailand, with rent not taken into consideration, is 31.65% lower than that in the United States. Rent in Thailand is 58.35% lower than that in the United States.

What Chiang Mai is known for: Located in in northwest Thailand, The New York Times reported that this city is known for its traditional markets and temples, which tell the rich history of the country. Chiang Mai has a mixture of both "contemporary art and design to complement the old."

Cost of living: The average monthly cost of a 1-bedroom apartment in downtown Mazatlán is $334.11. The cost of living in Mexico, with rent not taken into consideration, is 50% lower than that of the United States. Rent in Mexico is, on average, 71.55% lower than that in the United States.

What Mazatlán is known for: Located on the west coast of Mexico, this beach town is noted for its warm weather and seafood scene, CNN Travel's Susannah Rigg writes.

Cost of living: The average monthly rent for a 1-bedroom apartment in downtown Da Lat is around $366.98. The cost of living in Vietnam is about 46.19% lower than that of the United States (with rent not included). Rent in Vietnam is 66.32% lower than in the United States.

What Da Lat is known for: Located in the Central Highlands of southern Vietnam, Da Lat is called the "city of eternal spring." According to The Guardian, nearly 3 million tourists visit Da Lat annually, and the typical tourist spends an average of four days there.

Cost of living: The average total monthly budget for a couple who lives in Popoli will be around $1,200, including rent, according to US News & World Report. Numbeo reports that the cost of living in Italy is 6.23% lower than that in the United States (with rent not included). Rent in Italy is also 47.64% lower than in the United States.

What Popoli is known for: Nestled within the mountains of central Italy, this small town offers stunning views. As noted by travel blog Live and Invest Overseas, Popoli is a town which traces its roots back to the Stone Age and has seemingly remained untouched by rapid globalization.

Cost of living: The average monthly rent for a 1-bedroom apartment in downtown Puerto Plata is about $188. The cost of living in the Dominican Republic is about 38.59% lower than that in the United States (with rent not included). Rent in the Dominican Republic is around 73.97% lower than rent in the United States.

What Puerto Plata is known for: Located on the northern tip of the Dominican Republic, this coastal town is noted for its stunning architecture, views, and beach resorts, Trip Advisor writes.