The cost of living in Medellin, Colombia is in between Thailand and USA. It's not cheap however it's not expensive. Below I break down the cost of living in Medellin.
If you are thinking about living in Medellin, Colombia for a bit, chances are you want to know how much it costs. I personally found it be reasonably price. It isn't as cheap as South East Asia but it's cheaper than USA.
The price of your apartment obviously will be your biggest expense. How much you want to spend solely depends on how much luxury you would like. You can get a high rise apartment with beautiful views from your bed or you can get a normal Colombian apartment. The price also depends on where you want to live within Medellin.
Prices below are for 1bed & 1 or 2 bath.
Poblado or Laureles (Fancier): $600-$1,200 USD
Pretty much anywhere else in Medellin: $300-$550
Colombian food is pretty diverse and tasty. Good thing for you, the food is relatively inexpensive.
Normal Restaurant for 1 meal (local): $3-$6.50 USD
Fancy Restaurant for 1 meal: $10-$19
The transportation in Medellin is by far the best in the country. However, the traffic is absolutely terrible. You can take the train North and South and East and West. There are cable cars to take you up the barrios in the northern area. The bus system is really easy and you also have a choice of taxi or Uber. Keep in mind Uber is not legal here and the drivers are a bit more careful when picking people up. (It's not a problem for you. Just keep in mind that noone have the Uber sign on their car)
Train - One way: $2,200 CP ($0.80 USD)
Bus - One way: $2,200 CP ($0.80 USD)
Taxi (10-15min): $10,000-$15,000 CP ($3.50-$5.00 USD)
Uber (10-15min): $9,000-$16,000 CP ($3.00-$5.00 USD)
Medellin has plenty to offer in the terms of fun! Bars, dance bars, strip clubs.. and the list goes on. Here are a few prices for other activities in Medellin.
Beer: $2,000-$6,000 CP ($0.80-$2.00 USD)
Liquor: $10,000-$50,000+ CP ($4.00-$17.00 USD)