At 122 square miles, Malta is a tiny island in the Mediterranean with a long and illustrious history. Rents in the small (about 7,000 inhabitants) capital city, Valletta, starting at approximately $350 per month, so a $1,000 monthly budget stretches here. If foreign languages aren’t your forte, you’re in luck: The official language in Malta is English. Even in the dead of winter, while European capitals such as Berlin and Paris are freezing, temperatures in Malta hover in the balmy 60s. Malta has a fascinating history, magnificent ruins, and it’s a plane or boat ride to dozens of Mediterranean hot spots.