5 Most Affordable Cities in Europe

Stockholm: Most Expensive

With average hotel rates reaching €111, Stockholm can indeed be a costly stop on your travel itinerary. The problem: That steep Swedish exchange rate. The country uses the krona, not the euro, and locals enjoy a very comfortable standard of living. That said, it's still possible to encounter some affordability in Stockholm. In Scandinavia on $125 a Day, Seth Kugel writes, "A sure way to keep costs down is to seek out free activities or just spend your time strolling and people-watching. Scandinavia disappoints in neither category. Being outside, whether on a bike, on a hiking trail or at the beach (though not often in the chilly water) is always enjoyable and usually free."

Edinburgh: Second Most Expensive

Average hotel rates in Edinburgh came to €109 last summer. So to save, simply skip the hotel. SmarterTravel editor Dara Continenza, who recently took a high-season trip to Scotland's capital city, recommends budget-minded travelers rent an apartment: "Because the U.S. dollar isn't so hot overseas right now, hotels in Scotland were even more cost-prohibitive than usual (and this city is never very cheap). But apartment rentals abound; check out Airbnb or our sister site FlipKey for some options."

Venice: Third Most Expensive

According to Cheaphotels.org, average hotel rates in Venice topped out at €103 a night. Luckily, shoulder season for travel to Europe is almost upon us, and hotel prices in the hugely popular Italian city will likely drop come fall. The same is true in spring. According to About.com Guide Mark Kahler, "I visited [Venice] in early March and spent about 40 percent less for a budget room than the July rate."

Zurich: Fourth Most Expensive

This year, Zurich was named the world's most expensive city to live in by the Economist Intelligence Unit. And for travelers, it's certainly no bargain. Average hotel rates in Switzerland's largest city last summer: €101.

Oslo: Fifth Most Expensive

The second Scandinavian city on our "most expensive" list, Oslo saw average hotel prices of €94 last summer. Rick Steves advises those on a budget to travel during low season (fall and winter are good bets), as well as take public transit, which is affordable and reliable in the city.

Rome: Fifth Most Affordable

We were surprised to see Rome ranked as one of Europe's most affordable cities, as it's a perennially popular place to visit. Average prices for nightly stays in Rome came to €47 last summer.

Prague: Fourth Most Affordable

With average hotel rates of €47, Cheaphotels.org ranked Prague as one of Europe's most affordable destinations. And we concur. We recently selected Prague as one of the 10 Surprisingly Cheap European Cities.

Warsaw: Third Most Affordable

Another pick on our 10 Surprisingly Cheap European Cities gallery, Warsaw offers untold low-cost hotels. Average nightly rates last summer, according to Cheaphotels.org: €43.

Budapest: Second Most Affordable

Head to Hungary for a dirt-cheap getaway. Budapest is known to some as the "Paris of the East," but local hotel prices are markedly different from those in its French counterpart. Average hotel rates in Budapest hovered at €43 last summer.

Athens: Most Affordable

"Athens was reported as by far the least expensive city in Europe—not surprising given the civil unrest and uncertainties facing that beleaguered capital," says Ed Perkins. According to Cheaphotels.org, "In the Greek capital, hotel rooms, on average, went for only 23 euros per night."

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