I'm not sure where in latam you're thinking about, but at least in Brazil these numbers are way off. Yes, you can live with $500 a month, but you'd go without many luxuries such as internet connection, cel phone and so on.
Major cities (the largest 2 or 3) in Brazil have a cost of living very close to cheaper cities of the USA. If you move to smaller towns, you begin to deal with other issues (lack of infrastructure specially for kids) and so on.
Major cities (the largest 2 or 3) in Brazil have a cost of living very close to cheaper cities of the USA. If you move to smaller towns, you begin to deal with other issues (lack of infrastructure specially for kids) and so on.