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.

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.

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.

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.

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.

The average for 2021 based on 20 countries was 97.17 index points. The highest value was in Bermuda: 212.7 index points and the lowest value was in Nicaragua: 49.42 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

The average for 2021 based on 11 countries was 67.5 index points. The highest value was in Uruguay: 100.24 index points and the lowest value was in Suriname: 43.15 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

The Cost of living rating evaluates how much ordinary living expenses cost in different countries, including food, housing, necessary goods, services, medical insurance and other aspects.

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.

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 ****, followed by Harare, in Zimbabwe, with ****. Morocco and South Africa were the countries with the most representatives among the ** cities with the highest cost of living in Africa.

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.

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.

The average for 2021 based on 3 countries was 133.76 index points. The highest value was in Australia: 177.41 index points and the lowest value was in Fiji: 67.74 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

The average for 2021 based on 165 countries was 105.854 index points. The highest value was in South Korea: 208.84 index points and the lowest value was in India: 58.17 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

Quality of life is a measure of comfort, health, and happiness by a person or a group of people. Quality of life is determined by both material factors, such as income and housing, and broader considerations like health, education, and freedom. Each year, US & World News releases its “Best States to Live in” report, which ranks states on the quality of life each state provides its residents. In order to determine rankings, U.S. News & World Report considers a wide range of factors, including healthcare, education, economy, infrastructure, opportunity, fiscal stability, crime and corrections, and the natural environment. More information on these categories and what is measured in each can be found below:

Healthcare includes access, quality, and affordability of healthcare, as well as health measurements, such as obesity rates and rates of smoking. Education measures how well public schools perform in terms of testing and graduation rates, as well as tuition costs associated with higher education and college debt load. Economy looks at GDP growth, migration to the state, and new business. Infrastructure includes transportation availability, road quality, communications, and internet access. Opportunity includes poverty rates, cost of living, housing costs and gender and racial equality. Fiscal Stability considers the health of the government's finances, including how well the state balances its budget. Crime and Corrections ranks a state’s public safety and measures prison systems and their populations. Natural Environment looks at the quality of air and water and exposure to pollution.

According to a mid-2024 index, *********** was the most expensive country to live in Europe, with an index score of ****.******** followed in the second place with around ** points less.

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.

Quality of Life Index (higher is better) is an estimation of overall quality of life by using an empirical formula which takes into account purchasing power index (higher is better), pollution index (lower is better), house price to income ratio (lower is better), cost of living index (lower is better), safety index (higher is better), health care index (higher is better), traffic commute time index (lower is better) and climate index (higher is better).

Current formula (written in Java programming language):

index.main = Math.max(0, 100 + purchasingPowerInclRentIndex / 2.5 - (housePriceToIncomeRatio * 1.0) - costOfLivingIndex / 10 + safetyIndex / 2.0 + healthIndex / 2.5 - trafficTimeIndex / 2.0 - pollutionIndex * 2.0 / 3.0 + climateIndex / 3.0);

For details how purchasing power (including rent) index, pollution index, property price to income ratios, cost of living index, safety index, climate index, health index and traffic index are calculated please look up their respective pages.

Formulas used in the past

Formula used between June 2017 and Decembar 2017

We decided to decrease weight from costOfLivingIndex in this formula:

index.main = Math.max(0, 100 + purchasingPowerInclRentIndex / 2.5 - (housePriceToIncomeRatio * 1.0) - costOfLivingIndex / 5 + safetyIndex / 2.0 + healthIndex / 2.5 - trafficTimeIndex / 2.0 - pollutionIndex * 2.0 / 3.0 + climateIndex / 3.0);

The World Happiness 2017, which ranks 155 countries by their happiness levels, was released at the United Nations at an event celebrating International Day of Happiness on March 20th. The report continues to gain global recognition as governments, organizations and civil society increasingly use happiness indicators to inform their policy-making decisions. Leading experts across fields – economics, psychology, survey analysis, national statistics, health, public policy and more – describe how measurements of well-being can be used effectively to assess the progress of nations. The reports review the state of happiness in the world today and show how the new science of happiness explains personal and national variations in happiness.

The scores are based on answers to the main life evaluation question asked in the poll. This question, known as the Cantril ladder, asks respondents to think of a ladder with the best possible life for them being a 10 and the worst possible life being a 0 and to rate their own current lives on that scale. The scores are from nationally representative samples for 2017 and use the Gallup weights to make the estimates representative. The columns following the happiness score estimate the extent to which each of six factors – economic production, social support, life expectancy, freedom, absence of corruption, and generosity – contribute to making life evaluations higher in each country than they are in Dystopia, a hypothetical country that has values equal to the world’s lowest national averages for each of the six factors. They have no impact on the total score reported for each country, but they do explain why some countries rank higher than others.

Quality of life index, link: https://www.numbeo.com/quality-of-life/indices_explained.jsp

Happiness store, link: https://www.kaggle.com/unsdsn/world-happiness/home

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,

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