As of 2022, Israel had the highest price level index among listed countries, amounting to 138, with 100 being the average of OECD countries. Switzerland and Iceland followed on the places behind. On the other hand, Turkey and India had the lowest price levels compared to the OECD average. This price index shows differences in price levels in different countries. Another very popular index indicating the value of money is the Big Mac index, showing how much a Big Mac costs in different countries. This list was also topped by Switzerland in 2023.

West Virginia and Kansas had the lowest cost of living across all U.S. states, with composite costs being half of those found in Hawaii. This was according to a composite index that compares prices for various goods and services on a state-by-state basis. In West Virginia, the cost of living index amounted to 84.8 - well below the national benchmark of 100. Nevada - which had an index value of 100.1 - was only slightly above that benchmark. Expensive places to live included Hawaii, Massachusetts, and California Housing costs in the U.S. Housing is usually the highest expense in a household’s budget. In 2023, the average house sold for approximately 427,000 U.S. dollars, but house prices in the Northeast and West regions were significantly higher. Conversely, the South had some of the least expensive housing. In West Virginia, Mississippi, and Louisiana, the median price of the typical single-family home was less than 200,000 U.S. dollars. That makes living costs in these states significantly lower than in states such as Hawaii and California, where housing is much more expensive. What other expenses affect the cost of living? Utility costs such as electricity, natural gas, water, and internet also influence the cost of living. In Alaska, Hawaii, and Connecticut, the average monthly utility cost exceeded 500 U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.

The average for 2021 based on 40 countries was 69.86 index points. The highest value was in Israel: 188.01 index points and the lowest value was in Syria: 33.25 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

South Korea's capital Seoul had the highest cost of living among megacities in the Asia-Pacific region in 2024, with an index score of 70.3. Japan's capital Tokyo followed with a cost of living index score of 57.4. AffordabilityIn terms of housing affordability, Chinese megacity Shanghai had the highest rent index score in 2024. Affordability has become an issue in certain megacities across the Asia-Pacific region, with accommodation proving expensive. Next to Shanghai, Japanese capital Tokyo and South Korean capital Seoul boast some of the highest rent indices in the region. Increased opportunities in megacitiesAs the biggest region in the world, it is not surprising that the Asia-Pacific region is home to 28 megacities as of January 2024, with expectations that this number will dramatically increase by 2030. The growing number of megacities in the Asia-Pacific region can be attributed to raised levels of employment and living conditions. Cities such as Tokyo, Shanghai, and Beijing have become economic and industrial hubs. Subsequently, these cities have forged a reputation as being the in-trend places to live among the younger generations. This reputation has also pushed them to become enticing to tourists, with Tokyo displaying increased numbers of tourists throughout recent years, which in turn has created more job opportunities for inhabitants. As well as Tokyo, Shanghai has benefitted from the increased tourism, and has demonstrated an increasing population. A big factor in this population increase could be due to the migration of citizens to the city, seeking better employment possibilities.

Guinea: Cost of living index, world average = 100: The latest value from 2021 is 47.59 index points, a decline from 50.48 index points in 2017. In comparison, the world average is 79.81 index points, based on data from 165 countries. Historically, the average for Guinea from 2017 to 2021 is 49.04 index points. The minimum value, 47.59 index points, was reached in 2021 while the maximum of 50.48 index points was recorded in 2017.

Luxembourg stands out as the European leader in quality of life for 2025, achieving a score of 220 on the Quality of Life Index. The Netherlands follows closely behind with 211 points, while Albania and Ukraine rank at the bottom with scores of 104 and 115 respectively. This index provides a thorough assessment of living conditions across Europe, reflecting various factors that shape the overall well-being of populations and extending beyond purely economic metrics. Understanding the quality of life index The quality of life index is a multifaceted measure that incorporates factors such as purchasing power, pollution levels, housing affordability, cost of living, safety, healthcare quality, traffic conditions, and climate, to measure the overall quality of life of a Country. Higher overall index scores indicate better living conditions. However, in subindexes such as pollution, cost of living, and traffic commute time, lower values correspond to improved quality of life. Challenges affecting life satisfaction Despite the fact that European countries register high levels of life quality by for example leading the ranking of happiest countries in the world, life satisfaction across the European Union has been on a downward trend since 2018. The EU's overall life satisfaction score dropped from 7.3 out of 10 in 2018 to 7.1 in 2022. This decline can be attributed to various factors, including the COVID-19 pandemic and economic challenges such as high inflation. Rising housing costs, in particular, have emerged as a critical concern, significantly affecting quality of life. This issue has played a central role in shaping voter priorities for the European Parliamentary Elections in 2024 and becoming one of the most pressing challenges for Europeans, profoundly influencing both daily experiences and long-term well-being.

Ireland: Cost of living index, world average = 100: The latest value from 2021 is 175.68 index points, an increase from 157.19 index points in 2017. In comparison, the world average is 79.81 index points, based on data from 165 countries. Historically, the average for Ireland from 2017 to 2021 is 166.44 index points. The minimum value, 157.19 index points, was reached in 2017 while the maximum of 175.68 index points was recorded in 2021.

Turkey Cost of Living Index: 63=100: Istanbul (IB) data was reported at 428,251,644.200 1963=100 in 2017. This records an increase from the previous number of 383,616,648.700 1963=100 for 2016. Turkey Cost of Living Index: 63=100: Istanbul (IB) data is updated yearly, averaging 12,568.000 1963=100 from Dec 1953 (Median) to 2017, with 65 observations. The data reached an all-time high of 428,251,644.200 1963=100 in 2017 and a record low of 40.100 1963=100 in 1953. Turkey Cost of Living Index: 63=100: Istanbul (IB) data remains active status in CEIC and is reported by Istanbul Chamber of Commerce. The data is categorized under Global Database’s Turkey – Table TR.I015: Cost of Living Index: Wage Earners: Istanbul: 1963=100.

As of September 2024, Mumbai had the highest cost of living among other cities in the country, with an index value of 26.5. Gurgaon, a satellite city of Delhi and part of the National Capital Region (NCR) followed it with an index value of 25.1.  What is cost of living? The cost of living varies depending on geographical regions and factors that affect the cost of living in an area include housing, food, utilities, clothing, childcare, and fuel among others. The cost of living is calculated based on different measures such as the consumer price index (CPI), living cost indexes, and wage price index. CPI refers to the change in the value of consumer goods and services. The wage price index, on the other hand, measures the change in labor services prices due to market pressures. Lastly, the living cost indexes calculate the impact of changing costs on different households. The relationship between wages and costs determines affordability and shifts in the cost of living. Mumbai tops the list Mumbai usually tops the list of most expensive cities in India. As the financial and entertainment hub of the country, Mumbai offers wide opportunities and attracts talent from all over the country. It is the second-largest city in India and has one of the most expensive real estates in the world.

The average for 2021 based on 10 countries was 59.91 index points. The highest value was in Singapore: 118.34 index points and the lowest value was in India: 40.44 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

There is more to housing affordability than the rent or mortgage you pay. Transportation costs are the second-biggest budget item for most families, but it can be difficult for people to fully factor transportation costs into decisions about where to live and work. The Location Affordability Index (LAI) is a user-friendly source of standardized data at the neighborhood (census tract) level on combined housing and transportation costs to help consumers, policymakers, and developers make more informed decisions about where to live, work, and invest. Compare eight household profiles (see table below) —which vary by household income, size, and number of commuters—and see the impact of the built environment on affordability in a given location while holding household demographics constant.*$11,880 for a single person household in 2016 according to US Dept. of Health and Human Services: https://aspe.hhs.gov/computations-2016-poverty-guidelinesThis layer is symbolized by the percentage of housing and transportation costs as a percentage of income for the Median-Income Family profile, but the costs as a percentage of income for all household profiles are listed in the pop-up:Also available is a gallery of 8 web maps (one for each household profile) all symbolized the same way for easy comparison: Median-Income Family, Very Low-Income Individual, Working Individual, Single Professional, Retired Couple, Single-Parent Family, Moderate-Income Family, and Dual-Professional Family.An accompanying story map provides side-by-side comparisons and additional context.--Variables used in HUD's calculations include 24 measures such as people per household, average number of rooms per housing unit, monthly housing costs (mortgage/rent as well as utility and maintenance expenses), average number of cars per household, median commute distance, vehicle miles traveled per year, percent of trips taken on transit, street connectivity and walkability (measured by block density), and many more.To learn more about the Location Affordability Index (v.3) visit: https://www.hudexchange.info/programs/location-affordability-index/. There you will find some background and an FAQ page, which includes the question:"Manhattan, San Francisco, and downtown Boston are some of the most expensive places to live in the country, yet the LAI shows them as affordable for the typical regional household. Why?" These areas have some of the lowest transportation costs in the country, which helps offset the high cost of housing. The area median income (AMI) in these regions is also high, so when costs are shown as a percent of income for the typical regional household these neighborhoods appear affordable; however, they are generally unaffordable to households earning less than the AMI.Date of Coverage: 2012-2016 Date Released: March 2019Date Downloaded from HUD Open Data: 4/18/19Further Documentation:LAI Version 3 Data and MethodologyLAI Version 3 Technical Documentation_**The documentation below is in reference to this items placement in the NM Supply Chain Data Hub. The documentation is of use to understanding the source of this item, and how to reproduce it for updates**

Title: Location Affordability Index - NMCDC Copy

Summary: This layer contains the Location Affordability Index from U.S. Dept. of Housing and Urban Development (HUD) - standardized household, housing, and transportation cost estimates by census tract for 8 household profiles.

Notes: This map is copied from source map: https://nmcdc.maps.arcgis.com/home/item.html?id=de341c1338c5447da400c4e8c51ae1f6, created by dianaclavery_uo, and identified in Living Atlas.

Prepared by: dianaclavery_uo, copied by EMcRae_NMCDC

Source: This map is copied from source map: https://nmcdc.maps.arcgis.com/home/item.html?id=de341c1338c5447da400c4e8c51ae1f6, created by dianaclavery_uo, and identified in Living Atlas. Check the source documentation or other details above for more information about data sources.

Feature Service: https://nmcdc.maps.arcgis.com/home/item.html?id=447a461f048845979f30a2478b9e65bb

UID: 73

Data Requested: Family income spent on basic need

Method of Acquisition: Search for Location Affordability Index in the Living Atlas. Make a copy of most recent map available. To update this map, copy the most recent map available. In a new tab, open the AGOL Assistant Portal tool and use the functions in the portal to copy the new maps JSON, and paste it over the old map (this map with item id

Date Acquired: Map copied on May 10, 2022

Priority rank as Identified in 2022 (scale of 1 being the highest priority, to 11 being the lowest priority): 6

Tags: PENDING

Turkey Cost of Living Index: 95=100: Istanbul: Dwelling Expenses data was reported at 23,676.100 1995=100 in Oct 2018. This records an increase from the previous number of 23,327.800 1995=100 for Sep 2018. Turkey Cost of Living Index: 95=100: Istanbul: Dwelling Expenses data is updated monthly, averaging 9,291.150 1995=100 from Jan 1996 (Median) to Oct 2018, with 274 observations. The data reached an all-time high of 23,676.100 1995=100 in Oct 2018 and a record low of 150.600 1995=100 in Jan 1996. Turkey Cost of Living Index: 95=100: Istanbul: Dwelling Expenses data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.I012: Cost of Living Index: Wage Earners: Istanbul: 1995=100.

Singapore and New York were ranked as the most expensive cities worldwide with an index of 100 out of a possible 100. Three of the 11 most expensive cities were in the United States, whereas two were in Switzerland.

This dataset provides values for CONSUMER PRICE INDEX CPI reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Turkey Cost of Living Index: 68=100: Istanbul: Miscellaneous data was reported at 446,589,663.600 1968=100 in Oct 2018. This records an increase from the previous number of 443,615,496.000 1968=100 for Sep 2018. Turkey Cost of Living Index: 68=100: Istanbul: Miscellaneous data is updated monthly, averaging 18,628,560.950 1968=100 from Jan 1978 (Median) to Oct 2018, with 490 observations. The data reached an all-time high of 446,589,663.600 1968=100 in Oct 2018 and a record low of 408.300 1968=100 in Jan 1978. Turkey Cost of Living Index: 68=100: Istanbul: Miscellaneous data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.I014: Cost of Living Index: Wage Earners: Istanbul: 1968=100.

At 8.07 U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the July 2024 Big Mac index. Concurrently, the cost of a Big Mac was 5.69 dollars in the U.S., and 6.06 U.S. dollars in the Euro area. What is the Big Mac index? The Big Mac index, published by The Economist, is a novel way of measuring whether the market exchange rates for different countries’ currencies are overvalued or undervalued. It does this by measuring each currency against a common standard – the Big Mac hamburger sold by McDonald’s restaurants all over the world. Twice a year the Economist converts the average national price of a Big Mac into U.S. dollars using the exchange rate at that point in time. As a Big Mac is a completely standardized product across the world, the argument goes that it should have the same relative cost in every country. Differences in the cost of a Big Mac expressed as U.S. dollars therefore reflect differences in the purchasing power of each currency. Is the Big Mac index a good measure of purchasing power parity? Purchasing power parity (PPP) is the idea that items should cost the same in different countries, based on the exchange rate at that time. This relationship does not hold in practice. Factors like tax rates, wage regulations, whether components need to be imported, and the level of market competition all contribute to price variations between countries. The Big Mac index does measure this basic point – that one U.S. dollar can buy more in some countries than others. There are more accurate ways to measure differences in PPP though, which convert a larger range of products into their dollar price. Adjusting for PPP can have a massive effect on how we understand a country’s economy. The country with the largest GDP adjusted for PPP is China, but when looking at the unadjusted GDP of different countries, the U.S. has the largest economy.

Turkey Cost of Living Index: 95=100: Istanbul data was reported at 19,605.000 1995=100 in Oct 2018. This records an increase from the previous number of 18,947.300 1995=100 for Sep 2018. Turkey Cost of Living Index: 95=100: Istanbul data is updated monthly, averaging 6,559.050 1995=100 from Jan 1996 (Median) to Oct 2018, with 274 observations. The data reached an all-time high of 19,605.000 1995=100 in Oct 2018 and a record low of 138.000 1995=100 in Jan 1996. Turkey Cost of Living Index: 95=100: Istanbul data remains active status in CEIC and is reported by Istanbul Chamber of Commerce. The data is categorized under Global Database’s Turkey – Table TR.I012: Cost of Living Index: Wage Earners: Istanbul: 1995=100.

The consumer confidence index (CCI) in Norway dropped to minus 36.6 in the first quarter of 2023 and remained historically low through 2023. This was the lowest value ever measured since the index started in 1992. Rising costs of living made Norwegian consumers pessimistic about the future through 2022 and 2023. However, consumer confidence started increasing in 2024, but remained negative. A positive value indicates that the consumers are optimistic about the economic situation, while a negative value indicates pessimism.

Addis Ababa, in Ethiopia, ranked as the most expensive city to live in Africa as of 2024, considering consumer goods prices. The Ethiopian capital obtained an index score of 46.7, followed by Harare, in Zimbabwe, with 37.4. Morocco and South Africa were the countries with the most representatives among the 15 cities with the highest cost of living in Africa.

Turkey Cost of Living Index: 95=100: Istanbul: Health Care Expenses data was reported at 29,566.900 1995=100 in Oct 2018. This records an increase from the previous number of 29,408.000 1995=100 for Sep 2018. Turkey Cost of Living Index: 95=100: Istanbul: Health Care Expenses data is updated monthly, averaging 7,115.850 1995=100 from Jan 1996 (Median) to Oct 2018, with 274 observations. The data reached an all-time high of 29,566.900 1995=100 in Oct 2018 and a record low of 134.100 1995=100 in Jan 1996. Turkey Cost of Living Index: 95=100: Istanbul: Health Care Expenses data remains active status in CEIC and is reported by Central Bank of the Republic of Turkey. The data is categorized under Global Database’s Turkey – Table TR.I012: Cost of Living Index: Wage Earners: Istanbul: 1995=100.