The Philippines is a fun and interesting place to live. Actually, lots of places in Asia are. And some of the biggest / fastest growing economies are in the area. You could get a group of coders from the U.S. and set up shop there. For USD 1K per month* you could rent a really nice / big house and get helpers to do all the cooking and cleaning for your group (live-in helpers charge as low as $6 per day.) Actually, you can hire people do do pretty much everything so all you have to do is code. Bootstrapping is relatively cheap due to the cost of living. Outsourced development, but from U.S. developers. ;)
Houses are actually far cheaper than that. You can get a really nice house for USD 500 per month and a one bedroom can go for as low as USD 150. If I were to come with a group, I would have everyone chip in to get something big. For 1K, you would be living in luxury. ;)