Where in the world is the most expensive place to live: current ranking of cities by cost of living from Numbeo

The difference in the cost of living between cities can be enormous: in some places, rent is the biggest cost, and in others, daily expenses for services and transportation are the biggest. The Numbeo ranking helps you compare cities by basic expenses and purchasing power. Find out more about which cities topped the list, where to live most affordably, and how Ukrainian cities ranked

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The cost of living is one of the key factors when choosing a city for travel, relocation, or a long stay. Every year, analytical platforms compare prices for housing, groceries, transportation, and basic services to determine where to live most expensive and where to live most budgetarily. One of the most popular rankings is published by Numbeo. It analyzes hundreds of cities around the world, including Ukrainian ones. In this article, we summarize the main findings of the rating and briefly explain what is behind the numbers.

In the previous article, we compared the level of minimum wages in Ukraine and other European countries.

How is the cost of living ranking compiled?

Numbeo's cost of living ranking is based on a comprehensive analysis of the daily expenses of residents in different cities around the world. This is done by comparing prices for key categories of expenses that directly affect living standards and financial burden.

The main indicators taken into account in the ranking include the cost of renting a home, food prices, restaurant visits, public transportation and basic services. Particular attention is paid to the purchasing power of the population - the ratio of average income to expenditure in a particular city.

This approach allows us not only to determine where life is the most expensive or the least expensive, but also to objectively compare cities with each other, taking into account real economic conditions.

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Top 10 most expensive cities in the world to live in

According to the ranking, the top positions in the list of the most expensive cities in the world are consistently held by European financial centers. Zurich has remained the absolute leader for several years in a row, where high costs for housing, services and everyday needs are offset by correspondingly high incomes.

According to the Numbeo rating, the top ten most expensive cities in the world to live in include the following cities:

1. Zurich, Switzerland

2. Geneva, Switzerland

3. Basel, Switzerland

4. Lausanne, Switzerland

5. Lugano, Switzerland

6. Bern, Switzerland

7. New York, USA

8. Reykjavik, Iceland

9. Honolulu, USA

10. San Francisco, USA

The high positions of Swiss cities in the ranking are explained by the expensive real estate market and the overall price level. For example, the average rent of a one-bedroom apartment in Switzerland exceeds 80 thousand UAH per month, with an average income of more than 300 thousand UAH.

Where is the cheapest place to live: global and European context

On the opposite side of the ranking are cities with minimal costs for housing and everyday needs. According to Numbeo, Coimbatore in India is recognized as the cheapest city in the world to live in. Here, the average cost of renting a one-bedroom apartment is about 7 thousand hryvnias per month, while the average income of the population reaches about 20 thousand hryvnias.

In general, the most affordable cities are concentrated mainly in Asian countries, where the low cost of housing and services partially compensates for the lower level of income. In Europe, the cities of the Balkan region and Eastern Europe remain the cheapest to live in. In particular, the most affordable cities include Kosovo, Moldova, as well as some settlements in Romania and Bulgaria, which consistently occupy the bottom positions in the European cost of living ranking.

Earlier, we took a closer look at the best countries for digital nomads, the cost of living, and visa requirements.

Which Ukrainian cities are included in the ranking?

In the global cost of living ranking, which covers 479 cities around the world, Ukrainian cities are at the bottom of the list. In particular, Kyiv was ranked 412th, Odesa 429th, and Lviv 430th.

According to Numbeo, the average cost of renting a one-bedroom apartment in Ukraine is about UAH 10 thousand per month. This allows Ukrainian cities to remain among the cheapest to live in Europe, along with the cities of Kosovo and Moldova. At the same time, Kharkiv ranks last in the European housing cost ranking, which once again emphasizes the overall affordability of Ukrainian cities compared to most European countries.

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