Can you live in Monaco if you're not rich?

Not really, unless you are a Monégasque national, a French citizen working in Monaco who commutes from across the border, or a long-tenured employee of a Monaco-based company on an employer-sponsored arrangement. The general residency route requires a bank balance of €500,000 to €1,000,000+ on deposit at a Monaco-licensed bank, plus a Monaco lease or property purchase. Monaco rent for a one-bedroom typically runs €4,000 to €8,000+ a month at the open-market rate, so even with the bank deposit met, monthly housing alone is well above most household budgets. Many people who “live in Monaco” on modest incomes are in fact commuter workers based in Beausoleil, Cap d’Ail, or Roquebrune-Cap-Martin (all in France), where rents are 50 to 70 percent lower while still being a short walk or bus ride into the principality. For the full cost picture, see our Monaco cost of living page.