As of mid-2024, Montevideo ranked as the second Latin American and Caribbean metropolis with the highest cost of living index. The Uruguayan capital obtained an index score of ****, only second to Port of Spain, in Trinidad and Tobago, with **** points. Monterrey and Panama City were the third and fourth most expensive cities to live in Latin America and the Caribbean that year, with scores surpassing ** points each.

Damascus in Syria was ranked as the least expensive city worldwide in 2023, with an index score of ** out of 100. The country has been marred by civil war over the last decade, hitting the country's economy hard. Other cities in the Middle East and North Africa, such as Tehran, Tripoli, and Tunis, are also present on the list. On the other hand, Singapore and Zurich were ranked the most expensive cities in the world.

Zurich, Lausanne, and Geneva were ranked as the most expensive cities worldwide with indices of ************************ Almost half of the 11 most expensive cities were in Switzerland.

The average for 2021 based on 165 countries was 79.81 index points. The highest value was in Bermuda: 212.7 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.

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 **** — well below the national benchmark of 100. Virginia— which had an index value of ***** — 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 ******* 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 ******* U.S. dollars. That makes living expenses in these states significantly lower than in states such as Hawaii and California, where housing is much pricier. 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 *** U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.

As of March 2024, the cost of living in Bogota was the highest among major Colombian cities. In total, the average cost per month amounted to *** U.S. dollars. Cartagena followed in the ranking, with a monthly cost of living of *** U.S. dollars at that time.

Of the most populous cities in the U.S., San Jose, California had the highest annual income requirement at ******* U.S. dollars annually for homeowners to have an affordable and comfortable life in 2024. This can be compared to Houston, Texas, where homeowners needed an annual income of ****** U.S. dollars in 2024.

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.

The graph shows the world's most expensive cities to live, compared to New York City. Zurich is with a value of 170 the most expensive city to live.

As of September 2024, Mumbai had the highest cost of living among other cities in the country, with an index value of ****. Gurgaon, a satellite city of Delhi and part of the National Capital Region (NCR) followed it with an index value of ****.  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.

Annual indexes of price differences between 15 cities in all provinces and territories, as of October of the previous year, for a selection of products (goods and services) from the Consumer Price Index (CPI) purchased by consumers in each of the 15 cities. The combined city average index is 100.

The US Family Budget Dataset provides insights into the cost of living in different US counties based on the Family Budget Calculator by the Economic Policy Institute (EPI).

This dataset offers community-specific estimates for ten family types, including one or two adults with zero to four children, in all 1877 counties and metro areas across the United States.

Interesting Task Ideas:

1. See how family budgets compare to the federal poverty line and the Supplemental Poverty Measure in different counties.
2. Look into the money challenges faced by different types of families using the budgets provided.
3. Find out which counties have the most affordable places to live, food, transportation, healthcare, childcare, and other things people need.
4. Explore how the average income of families relates to the overall cost of living in different counties.
5. Investigate how family size affects the estimated budget and find counties where bigger families have higher costs.
6. Create visuals showing how the cost of living varies across different states and big cities.
7. Check whether specific counties are affordable for families of different sizes and types.
8. Use the dataset to compare living standards and economic security in different US counties.

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In 2024, Singapore's cost of living index was at ****, compared to that of New York City as a base of 100. This meant that Singapore was about ** percent more affordable than New York City. With a local purchasing power index of ***, residents with an average salary in Singapore are able to afford more goods and services compared to the base city of New York City. In that year, Singapore had the highest cost of living index in Asia.

Kazakhstan Cost of Living: Average per Capita: City: Almaty data was reported at 32,029.000 KZT in Oct 2018. This records a decrease from the previous number of 32,475.000 KZT for Sep 2018. Kazakhstan Cost of Living: Average per Capita: City: Almaty data is updated monthly, averaging 15,920.000 KZT from Oct 2000 (Median) to Oct 2018, with 217 observations. The data reached an all-time high of 32,640.000 KZT in Aug 2018 and a record low of 4,577.000 KZT in Oct 2000. Kazakhstan Cost of Living: Average per Capita: City: Almaty data remains active status in CEIC and is reported by The Agency of Statistics of the Republic of Kazakhstan. The data is categorized under Global Database’s Kazakhstan – Table KZ.H012: Cost of Living: Average per Capita.

This table contains data on the percent of households paying more than 30% (or 50%) of monthly household income towards housing costs for California, its regions, counties, cities/towns, and census tracts. Data is from the U.S. Department of Housing and Urban Development (HUD), Consolidated Planning Comprehensive Housing Affordability Strategy (CHAS) and the U.S. Census Bureau, American Community Survey (ACS). The table is part of a series of indicators in the [Healthy Communities Data and Indicators Project of the Office of Health Equity] Affordable, quality housing is central to health, conferring protection from the environment and supporting family life. Housing costs—typically the largest, single expense in a family's budget—also impact decisions that affect health. As housing consumes larger proportions of household income, families have less income for nutrition, health care, transportation, education, etc. Severe cost burdens may induce poverty—which is associated with developmental and behavioral problems in children and accelerated cognitive and physical decline in adults. Low-income families and minority communities are disproportionately affected by the lack of affordable, quality housing. More information about the data table and a data dictionary can be found in the Attachments.

Kazakhstan Cost of Living: Average per Capita: City: Shymkent data was reported at 26,400.000 KZT in Oct 2018. This records an increase from the previous number of 26,207.000 KZT for Sep 2018. Kazakhstan Cost of Living: Average per Capita: City: Shymkent data is updated monthly, averaging 26,195.000 KZT from Jun 2018 (Median) to Oct 2018, with 5 observations. The data reached an all-time high of 26,400.000 KZT in Oct 2018 and a record low of 24,740.000 KZT in Jul 2018. Kazakhstan Cost of Living: Average per Capita: City: Shymkent data remains active status in CEIC and is reported by The Agency of Statistics of the Republic of Kazakhstan. The data is categorized under Global Database’s Kazakhstan – Table KZ.H012: Cost of Living: Average per Capita.

VITAL SIGNS INDICATOR Poverty (EQ5)

FULL MEASURE NAME The share of the population living in households that earn less than 200 percent of the federal poverty limit

LAST UPDATED December 2018

DESCRIPTION Poverty refers to the share of the population living in households that earn less than 200 percent of the federal poverty limit, which varies based on the number of individuals in a given household. It reflects the number of individuals who are economically struggling due to low household income levels.

DATA SOURCE U.S Census Bureau: Decennial Census http://www.nhgis.org (1980-1990) http://factfinder2.census.gov (2000)

U.S. Census Bureau: American Community Survey Form C17002 (2006-2017) http://api.census.gov

METHODOLOGY NOTES (across all datasets for this indicator) The U.S. Census Bureau defines a national poverty level (or household income) that varies by household size, number of children in a household, and age of householder. The national poverty level does not vary geographically even though cost of living is different across the United States. For the Bay Area, where cost of living is high and incomes are correspondingly high, an appropriate poverty level is 200% of poverty or twice the national poverty level, consistent with what was used for past equity work at MTC and ABAG. For comparison, however, both the national and 200% poverty levels are presented.

For Vital Signs, the poverty rate is defined as the number of people (including children) living below twice the poverty level divided by the number of people for whom poverty status is determined. Poverty rates do not include unrelated individuals below 15 years old or people who live in the following: institutionalized group quarters, college dormitories, military barracks, and situations without conventional housing. The household income definitions for poverty change each year to reflect inflation. The official poverty definition uses money income before taxes and does not include capital gains or noncash benefits (such as public housing, Medicaid, and food stamps). For the national poverty level definitions by year, see: https://www.census.gov/hhes/www/poverty/data/threshld/index.html For an explanation on how the Census Bureau measures poverty, see: https://www.census.gov/hhes/www/poverty/about/overview/measure.html

For the American Community Survey datasets, 1-year data was used for region, county, and metro areas whereas 5-year rolling average data was used for city and census tract.

To be consistent across metropolitan areas, the poverty definition for non-Bay Area metros is twice the national poverty level. Data were not adjusted for varying income and cost of living levels across the metropolitan areas.

Real Estate Rental Market Outlook

The global real estate rental market size is projected to grow from USD 1.5 trillion in 2023 to approximately USD 2.3 trillion by 2032, reflecting a CAGR of 4.8% over the forecast period. This growth is primarily driven by urbanization, increasing disposable incomes, and the evolving nature of work environments. The market is witnessing substantial growth due to an inclination towards urban living, coupled with a significant shift towards flexible working spaces. These factors are bolstered by technological advancements and changing consumer preferences, making the real estate rental market an area of active interest and dynamic evolution.

One of the significant growth drivers of the real estate rental market is the trend of urbanization. As more people migrate to cities in search of better employment opportunities and lifestyles, the demand for rental properties surges. This urban influx requires extensive accommodation and commercial spaces, thereby driving up the rental market. Additionally, the scarcity and high cost of owned properties in urban areas make renting a more viable and attractive option for many individuals and businesses. This trend is expected to continue as cities expand and develop, creating a continual demand for rental properties.

Increasing disposable incomes and the changing dynamics of consumer spending also play a critical role in the growth of the real estate rental market. As economic conditions improve globally, more individuals and corporates have higher spending capacities, allowing them to opt for premium rental properties. This increase in disposable income is particularly noticeable in emerging economies, where rapid economic growth is leading to higher standards of living and increased demand for quality rental spaces. Additionally, the rise of a more mobile and transient workforce prefers the flexibility of renting over purchasing, further fueling market growth.

Technological advancements and digital transformation are another crucial factor contributing to the growth of the real estate rental market. The proliferation of online platforms and digital tools has revolutionized the way rental properties are marketed, managed, and leased. These innovations provide greater transparency, convenience, and efficiency, making the rental process more accessible and appealing to a broader audience. Virtual tours, online payment systems, and digital lease agreements are just a few examples of how technology is enhancing the rental experience, attracting more tenants and simplifying property management for landlords.

Regionally, the Asia Pacific region is expected to dominate the market growth, driven by rapid urbanization and economic development in countries like China and India. North America and Europe are also significant markets, with mature real estate sectors and high demand for both residential and commercial rental properties. Each region presents unique opportunities and challenges, influenced by factors such as economic conditions, regulatory environments, and cultural preferences. Understanding these regional dynamics is essential for stakeholders looking to capitalize on the growth opportunities within the global real estate rental market.

Property Type Analysis

The real estate rental market is segmented by property type into residential, commercial, industrial, and others. The residential segment holds the largest share, driven by the increasing demand for housing in urban areas. As cities expand and populations grow, the need for rental housing continues to rise. This segment includes apartments, single-family homes, and multi-family units. The trend towards urban living and the high cost of homeownership in many cities make renting a more viable option for many individuals and families, thus driving the growth of the residential rental market.

Residential Real Estate remains a cornerstone of the real estate rental market, particularly as urban areas continue to expand. The demand for residential properties is driven by various factors, including population growth, urbanization, and the increasing preference for rental housing over homeownership. With cities becoming more densely populated, the need for accessible and affordable housing options is more critical than ever. Residential real estate offers a range of property

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 ****. Japan's capital Tokyo followed with a cost of living index score of ****. 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.

Mobile Home Rental Market Outlook

The global mobile home rental market size was valued at USD 9.3 billion in 2023, and it is projected to reach USD 17.8 billion by 2032, growing at a CAGR of 7.5% during the forecast period. The growth of this market is driven by the increasing demand for affordable housing solutions and the rising trend of mobile living among different demographics. As urbanization continues to increase and housing prices soar, mobile homes present a viable and cost-effective alternative to traditional housing. The flexibility, affordability, and customization options associated with mobile homes have made them an attractive choice for many, thereby fueling the growth of the rental segment.

One of the primary growth factors for the mobile home rental market is the rising affordability crisis in urban housing. As property prices continue to skyrocket in major cities around the world, more individuals and families are turning to mobile homes as a practical solution. Mobile homes offer a lower cost of living, reduced maintenance expenses, and the ability to relocate easily, making them an appealing option for those who face financial constraints. Additionally, mobile homes are increasingly being designed with modern amenities and high-quality materials, improving their appeal and livability.

Another significant growth driver is the increasing acceptance and popularity of mobile home parks. These parks provide a community-based living environment with amenities such as recreational facilities, security, and maintenance services. This community aspect, combined with the affordability of mobile homes, attracts a diverse range of renters, from young professionals to retirees. Moreover, governments in various regions are also supporting the development of mobile home parks to address the housing shortage, further boosting the market.

The growing trend of minimalistic and sustainable living is also contributing to the market's expansion. Many individuals are prioritizing smaller, eco-friendly living spaces that reduce their carbon footprint. Mobile homes, which often employ sustainable building practices and materials, cater to this demographic. The ability to downsize and live a more sustainable lifestyle without sacrificing comfort is a strong selling point for mobile homes, increasing their popularity among environmentally conscious renters.

Regionally, North America holds the largest share of the mobile home rental market due to the high demand for affordable housing solutions and the presence of well-established mobile home communities. Europe is also witnessing significant growth, driven by similar affordability concerns and an increasing preference for flexible living options. Asia Pacific is expected to exhibit the highest CAGR during the forecast period, fueled by rapid urbanization, population growth, and government initiatives supporting affordable housing. Latin America and the Middle East & Africa regions are also showing promising growth potential, albeit at a slower pace.

Type Analysis

The mobile home rental market can be segmented by type into Single-Wide, Double-Wide, and Triple-Wide homes. Single-Wide mobile homes are the most traditional and common type, featuring a narrow and elongated structure that is easy to transport and set up. These homes are highly popular among individual renters and small families due to their affordability and simplicity. Despite their smaller size, many single-wide homes are equipped with modern amenities, making them a comfortable living option. The demand for single-wide homes remains strong, particularly in regions where affordable housing is scarce.

Double-Wide mobile homes consist of two sections that are joined together to create a larger living space. These homes offer more interior space and design flexibility compared to single-wide models, catering to families and individuals who require more room. The growing preference for spacious living environments without the high costs associated with traditional homes is driving the demand for double-wide mobile homes. Additionally, double-wide homes often feature more advanced amenities and higher quality finishes, further enhancing their appeal.

Triple-Wide mobile homes represent the largest and most luxurious segment within the mobile home rental market. These homes consist of three joined sections, providing a spacious and comfortable living environment that can rival traditional houses. Triple-wide homes are designed to offer maximum comfort and luxury, often featuring multiple bedrooms, large kitchens,