30 Cities in the World With the Highest Cost of Living Index
Even though inflation is easing, many Americans still feel the financial squeeze. Yet, there are six international cities where the cost of living index surpasses that of any city in the United States.
To determine the top 30 cities with the highest cost of living indexes, crowdsourcing database Numbeo compared the cost of living in major cities in the world with that of New York City (NYC). Using NYC as a baseline, they compared several indexes to it, such as each city’s cost of rent, groceries, and restaurants.
The results are as follows, with indexes over 100 meaning the expense for a category is higher than NYC; indexes under 100 indicate they’re cheaper.
1: Hamilton, Bermuda
Hamilton has the highest cost of living in the world, with a total cost of living index of 137.4. Although rent is slightly cheaper (94.7) in this Bermuda city than in NYC, its groceries and restaurant price indexes are an astounding 147.7 and 131.3, respectively.
2: Basel, Switzerland
If you have your heart set on moving to Switzerland someday, you’re going to need a boatload of money if the following five cities on this list are any indication. Of Switzerland’s pricey cities, Basel has the highest cost of living, with a cost of living index of 120.2. The silver lining? Although Basel residents spend lots of money on groceries (135.7 on the groceries index), their rent index is a low 46.6.
3: Zurich, Switzerland
It seems fitting that a financial hub like Zurich would be an expensive place to live. It has a cost of living index of 118.3, with a 132.7 local purchasing power index cranking up its score.
4: Lausanne, Switzerland
Sitting on Lake Geneva, Lausanne residents pay a pretty penny for their stunning views. Lausanne’s cost of living index is 117.7, with food being particularly costly in Swiss fashion; its groceries index is 123.3, and its restaurant price index is 106.2.
5: Bern, Switzerland
Switzerland’s capital is an expensive city to live in. A cost of living index of 110.5 lands it as the fifth-most costly city in the world. That said, like all Swiss cities on this list, residents get some financial relief thanks to a low rent index (42.3). But with a local purchasing power of 130.7, it’s harder to make money go far.
6: Geneva, Switzerland
Geneva marks the fifth Swiss city in a row on this list. It also just so happens that of the 370 cities Numbeo analyzed, not a single other Swiss city appeared lower in the rankings. Geneva’s total cost of living index is 109.8.
7: New York City, New York
Numbeo used New York City as the baseline for this study, so its indexes rank as 100.0 across the board. All the cities that follow have a lower cost of living index than NYC.
8: San Francisco, California
San Francisco’s cost of living index is 92.5. San Fran’s groceries index category ranks the highest (97.5), and the rent index is the lowest (83.9).
9: Honolulu, Hawaii
It costs to live in a tropical environment, with Honolulu’s cost of living index being just 0.1 less than San Francisco’s (92.4). That said, Honolulu’s local purchasing power is the best on this list so far, at 81.3.
10: San Jose, California
San Jose’s cost of living index is 90.5. Residents shell out a good chunk of moolah to live there, with a rent index of 72.2. Shopping for food is also a financial struggle for many, with San Jose having a groceries index of 90.4.
11: Boston, Massachusetts
Boston is the first city to drop into the 80s on Numbeo’s cost of living index (89.2). But with a local purchasing power index of 113.6, it’s far from an affordable city for many Americans.
12: Reykjavik, Iceland
Iceland’s capital is eye candy to look at and an eyesore on the wallet. Its cost of living index is 88.5, with its rent index being notably low (45.0). Nevertheless, a high groceries index (90.1) and restaurant price index (92.6) make for expensive living.
13: Seattle, Washington
Seattle’s 87.7 cost of living index might not sound bad, but it has a painfully high local purchasing power index (156.2). That may make NYC’s expenses look attractive until you consider that Seattle’s rent index is only 61.9.
14: Canberra, Australia
Coming in just a hair below Seattle on the cost of living index (87.5), Canberra has a groceries index of 80.8. You’re better off getting those groceries and cooking from home, though, for restaurant prices run higher there than in NYC, with an index of 105.7.
15: San Diego, California
With a cost of living index of 86.4, San Diego is far from one of the most economical American cities to live in. That said, it has the lowest groceries index on this list so far (77.2).
16: Trondheim, Norway
Trondheim joins several other European cities in ranking as having among the highest cost of living indexes in the world (86.3). While a local purchasing power index of 91.5 can make it hard to get by, rent is astoundingly low compared to NYC, with a rent index of 30.2.
17: Los Angeles, California
Los Angeles is the fourth Californian city on this list. The cost of living index in LA is 85.1, and the City of Angels has a restaurant price index of 87.7.
18: Washington, DC
In 2023, statistics showed that homelessness in the nation’s capital had increased by 11.6% in the last year. Given that Washington, DC, ranks as the 18th city with the highest cost of living index in the world (84.8), it’s easy to understand why. The local purchasing power index is 135.8, meaning that Americans have significantly more purchasing power in NYC than in our capital.
19: Bergen, Norway
Don’t let Bergen’s low rent index of 28.0 fool you; this Norwegian city costs a fair share of money to live in. It ranks the worst under Numbeo’s groceries index (83.1).
20: Sacramento, California
Sacramento is the fifth and final Californian city on this list. Its 83.7 cost of living index score seems relatively better than the Golden State cities we covered before it. Nevertheless, Sacramento’s local purchasing power index is a high 116.3.
21: Stavanger, Norway
Stavanger is the third of four Norwegian cities to make this list, with a cost of living index of 82.5. A low rent index of 34.1 helps to balance its high groceries index of 77.1.
22: Portland, Oregon
Portland’s cost of living index is 82.3. Before you get too excited about that number compared to other American cities on this list, consider that Portland’s local purchasing power index is higher than New York City’s, at 103.5.
23: Tampa, Florida
Heading over to the Southeast, Tampa’s cost of living index is 82.0. Unfortunately for cash-strapped residents living there, its local purchasing power index is even worse than Portland’s, at 107.4.
24: Singapore, Singapore
Singapore’s capital comes with some expensive living. It has a cost of living index of 81.9, and its local purchasing power is above NYC’s at 103.0.
25: Adelaide, Australia
Americans wanting lower costs of living in an English-speaking country might want to hightail it to Australia, for Adelaide is only the second city to make it onto this list. Adelaide has a cost of living index of 81.7 and a low rent index of 35.0.
26: Atlanta, Georgia
Atlanta’s cost of living index is 80.3. It ranks lowest under the rent index category (47.4) and highest for the hard-to-swallow local cost of living index category (139.2).
27: London, United Kingdom
If you thought London would be too expensive to move to, Numbeo’s results show you might be mistaken, depending on whether you live in one of the more expensive cities already covered. London’s cost of living index is 80.1, and its groceries index is the lowest on this list, at 64.2.
28: Chicago, Illinois
Chicago is about on par with London in terms of its cost of living index (80.0). Its restaurants are significantly more affordable than New York City’s, with a restaurant index of 74.1. Deep-dish pizza, anyone?
29: Oslo, Norway
Oslo ties with Chicago in having a cost of living index of 80.0. Residents of Oslo have a local purchasing power index just beneath that of NYC’s (99.1).
30: Copenhagen, Denmark
Copenhagen rounds out this list of cities with the highest cost of living indexes in the world. Its cost of living index is 79.0, and its groceries index is 67.5.
Bottom Rank
Of the 370 cities that Numbeo surveyed, Karachi, Pakistan ranked the lowest. Its cost of living index is a mere 19.3. Karachi ranked low across the board, with a rent index of 3.0, a groceries index of 17.4, a restaurant price index of 12.2, and a local purchasing power index of 23.8.
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