Damascus in Syria was ranked as the least expensive city worldwide in 2023, with an index score of 13 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. Buenos Aires is the Latin American city with the highest costs of living, as Argentina has recently faced an economic crisis and rapidly rising inflation. On the other hand, Singapore and Zurich were ranked the most expensive cities in the world.

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.

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.

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.

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.

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.

In 2023, Paris was the most livable city worldwide according to the Global Power City Index (GCPI), with 390 points. Furthermore, Madrid was the second most livable city with 380.9 points, while Tokyo was the third with 367.7 points.

The criteria taken into consideration include, among others, costs and ease of living, number of retail shops and restaurants, and availability of medical services.

Average Household Income: Surakarta Municipality data was reported at 6,944,464.000 IDR in 2018. Average Household Income: Surakarta Municipality data is updated yearly, averaging 6,944,464.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 6,944,464.000 IDR in 2018 and a record low of 6,944,464.000 IDR in 2018. Average Household Income: Surakarta Municipality data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB003: Cost of Living Survey (SBH-2018): Average Monthly Household Income: by Cities.

Of the cities who have experienced cost of living increases, the top three are located in Latin America, two in Mexico and one in Costa Rica. Each moved 38, 39, and 48 spots in the ranking respectively since 2022. Due to increases in interest rates, the Mexican peso and Costa Rican colón have both appreciated against the U.S. Dollar. Comparatively, Singapore and Zurich were ranked the most expensive cities in the world.

Average Household Income: Palembang Municipality: Other data was reported at 483,139.000 IDR in 2018. Average Household Income: Palembang Municipality: Other data is updated yearly, averaging 483,139.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 483,139.000 IDR in 2018 and a record low of 483,139.000 IDR in 2018. Average Household Income: Palembang Municipality: Other data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB003: Cost of Living Survey (SBH-2018): Average Monthly Household Income: by Cities.

Living Cost: Average per Month: SF: City of Sevastopol data was reported at 11,396.000 RUB in Dec 2020. This records a decrease from the previous number of 11,494.000 RUB for Sep 2020. Living Cost: Average per Month: SF: City of Sevastopol data is updated quarterly, averaging 10,052.000 RUB from Sep 2014 (Median) to Dec 2020, with 26 observations. The data reached an all-time high of 11,538.000 RUB in Jun 2019 and a record low of 5,728.000 RUB in Sep 2014. Living Cost: Average per Month: SF: City of Sevastopol data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HF001: Living Cost.

Average Household Income: Probolinggo Municipality: Wage/Salary data was reported at 4,185,929.000 IDR in 2018. Average Household Income: Probolinggo Municipality: Wage/Salary data is updated yearly, averaging 4,185,929.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 4,185,929.000 IDR in 2018 and a record low of 4,185,929.000 IDR in 2018. Average Household Income: Probolinggo Municipality: Wage/Salary data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB003: Cost of Living Survey (SBH-2018): Average Monthly Household Income: by Cities.

Average Household Income: Lhokseumawe Municipality data was reported at 7,052,962.000 IDR in 2018. Average Household Income: Lhokseumawe Municipality data is updated yearly, averaging 7,052,962.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 7,052,962.000 IDR in 2018 and a record low of 7,052,962.000 IDR in 2018. Average Household Income: Lhokseumawe Municipality data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB003: Cost of Living Survey (SBH-2018): Average Monthly Household Income: by Cities.

Barcelona, Madrid, and Donostia - San Sebastian were some of the most expensive cities to rent a house in Spain in February 2025. Barcelona, which is the capital of Catalonia, led the list with an average price of 23.7 euros per square meter. Madrid followed closely in the second position with an average square meter of rental residential property cost of 21.2 euros.

Living Cost: Labour Force: Average per Month: NW: City of St Petersburg data was reported at 13,074.000 RUB in Dec 2020. This records an increase from the previous number of 12,826.000 RUB for Sep 2020. Living Cost: Labour Force: Average per Month: NW: City of St Petersburg data is updated quarterly, averaging 6,800.000 RUB from Mar 2002 (Median) to Dec 2020, with 76 observations. The data reached an all-time high of 13,074.000 RUB in Dec 2020 and a record low of 2,403.000 RUB in Mar 2002. Living Cost: Labour Force: Average per Month: NW: City of St Petersburg data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Household Survey – Table RU.HF002: Living Cost: Labour Force.

Average Household Income: Bukittinggi Municipality: Other data was reported at 2,109,629.000 IDR in 2018. Average Household Income: Bukittinggi Municipality: Other data is updated yearly, averaging 2,109,629.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 2,109,629.000 IDR in 2018 and a record low of 2,109,629.000 IDR in 2018. Average Household Income: Bukittinggi Municipality: Other data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB003: Cost of Living Survey (SBH-2018): Average Monthly Household Income: by Cities.

Average Household Income: Bulukumba Municipality data was reported at 8,690,243.000 IDR in 2018. Average Household Income: Bulukumba Municipality data is updated yearly, averaging 8,690,243.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 8,690,243.000 IDR in 2018 and a record low of 8,690,243.000 IDR in 2018. Average Household Income: Bulukumba Municipality data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB003: Cost of Living Survey (SBH-2018): Average Monthly Household Income: by Cities.

Average Monthly Household Expenditure: Malang Municipality: Consumption: Education data was reported at 637,540.000 IDR in 2018. Average Monthly Household Expenditure: Malang Municipality: Consumption: Education data is updated yearly, averaging 637,540.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 637,540.000 IDR in 2018 and a record low of 637,540.000 IDR in 2018. Average Monthly Household Expenditure: Malang Municipality: Consumption: Education data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB004: Cost of Living Survey (SBH-2018): Average Monthly Household Expenditure: by Cities and Commodities Group.

Average Monthly Household Expenditure: Jember Municipality: Consumption: Personal Care and Miscellaneous Goods data was reported at 397,676.000 IDR in 2018. Average Monthly Household Expenditure: Jember Municipality: Consumption: Personal Care and Miscellaneous Goods data is updated yearly, averaging 397,676.000 IDR from Dec 2018 (Median) to 2018, with 1 observations. The data reached an all-time high of 397,676.000 IDR in 2018 and a record low of 397,676.000 IDR in 2018. Average Monthly Household Expenditure: Jember Municipality: Consumption: Personal Care and Miscellaneous Goods data remains active status in CEIC and is reported by Statistics Indonesia. The data is categorized under Indonesia Premium Database’s Domestic Trade and Household Survey – Table ID.HB004: Cost of Living Survey (SBH-2018): Average Monthly Household Expenditure: by Cities and Commodities Group.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2023. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 117.5 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.