The cost of living varies dramatically across countries, affecting everything from housing and food to transportation and healthcare. This comparison helps understand which countries are most and least expensive for residents and expatriates, providing crucial information for relocation decisions, salary negotiations, and economic analysis.
Understanding the Indices
Cost of Living Indices are relative values, not prices in dollars. All indices are calculated relative to New York City (NYC = 100).
- Index 100 = Same cost as New York City
- Index 70 = 30% cheaper than NYC (costs are 70% of NYC prices)
- Index 120 = 20% more expensive than NYC (costs are 120% of NYC prices)
Example: If groceries cost $500/month in NYC (index 100), then in a country with index 70, groceries would cost approximately $350/month (70% of $500).
Cost of living indices compare prices for a standard basket of goods and services across countries, typically using New York City as the baseline (index = 100). These comparisons reveal striking differences: a comfortable lifestyle in one country might require several times the income needed in another, even after adjusting for exchange rates.
High cost of living often correlates with high wages and strong economies, but not always. Some expensive cities offer exceptional quality of life and services, while others may simply reflect supply constraints or high taxes. Understanding these differences is essential for making informed decisions about where to live, work, or retire.
Reference Prices (New York City Baseline)
These are approximate monthly costs in NYC (index = 100). Use these as a baseline to calculate costs in other countries:
Cost of Living Index by Country
Cost of Living Statistics
Understanding Cost of Living
Cost of living indices measure the relative price levels for consumer goods and services, typically including housing, food, transportation, healthcare, education, and entertainment. These indices help compare purchasing power and living standards across different locations, though individual experiences may vary based on lifestyle and spending patterns.
The indices are usually calculated using price surveys of common goods and services in major cities, then normalized to a baseline (often 100, representing an average or specific reference city). A higher index indicates higher prices, while a lower index suggests more affordable living costs.
Factors Affecting Cost of Living
- Housing costs: Rent and property prices often represent the largest component of living expenses
- Wage levels: Higher wages typically correlate with higher costs, as businesses pass labor costs to consumers
- Currency strength: Strong currencies can make imports expensive, raising overall costs
- Taxes and regulations: High taxes and strict regulations can increase prices for goods and services
- Supply and demand: Limited supply of housing or services in desirable areas drives up prices
- Economic development: Developed economies often have higher costs due to higher standards and wages
Cost Components
- Housing: Rent, mortgages, utilities, and maintenance costs vary dramatically by location
- Food and groceries: Local production, import costs, and taxes affect food prices
- Transportation: Public transit, fuel costs, and vehicle expenses differ significantly
- Healthcare: Insurance, medical costs, and public vs. private systems impact expenses
- Education: School fees, university costs, and educational quality vary widely
- Entertainment and leisure: Restaurant prices, cultural activities, and recreational costs differ
Important Considerations
Cost of living indices provide averages and may not reflect individual circumstances. Lifestyle choices, family size, housing preferences, and spending habits significantly affect actual expenses. Additionally, quality of life factors like healthcare quality, safety, and cultural amenities aren't captured in cost indices but are crucial for relocation decisions.
Global Cost Patterns
Major global cities, particularly financial centers and technology hubs, typically show the highest cost of living. Cities like New York, London, Tokyo, and Zurich consistently rank among the most expensive, driven by high housing costs, strong currencies, and premium service prices.
Developing countries and regions with lower wage levels generally have lower costs of living, though this doesn't always mean better value. Quality and availability of goods and services may be limited, and infrastructure challenges can offset cost advantages.
Some countries offer exceptional value, combining affordable costs with high quality of life. These locations often attract retirees, digital nomads, and expatriates seeking better balance between cost and lifestyle. Understanding these patterns helps individuals and businesses make informed decisions about international relocation and compensation.
Compare Countries
Select up to 5 countries to compare their cost of living indices side by side. The comparison table shows both indices and estimated real prices in USD.
Comparison Results
| Index |
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Cost of Living Ranking
| Rank | Country | Cost of Living | Rent Index | Groceries | Restaurants | Purchasing Power | Est. Monthly Cost | Compare |
|---|---|---|---|---|---|---|---|---|
| 1 | Switzerland | 122.0 | 78.0 | 105.0 | 125.0 | 110.0 | ~$4,270/mo | |
| 2 | Norway | 101.0 | 45.0 | 112.0 | 98.0 | 98.0 | ~$3,535/mo | |
| 3 | United States | 100.0 | 50.0 | 72.0 | 85.0 | 100.0 | ~$3,500/mo | |
| 4 | Iceland | 95.0 | 52.0 | 105.0 | 98.0 | 92.0 | ~$3,325/mo | |
| 5 | Israel | 88.0 | 65.0 | 82.0 | 88.0 | 85.0 | ~$3,080/mo | |
| 6 | Japan | 85.0 | 42.0 | 95.0 | 72.0 | 92.0 | ~$2,975/mo | |
| 7 | Luxembourg | 85.0 | 55.0 | 72.0 | 88.0 | 95.0 | ~$2,975/mo | |
| 8 | Singapore | 83.0 | 95.0 | 72.0 | 68.0 | 105.0 | ~$2,905/mo | |
| 9 | Denmark | 83.0 | 38.0 | 82.0 | 88.0 | 102.0 | ~$2,905/mo | |
| 10 | Hong Kong SAR, China | 78.0 | 112.0 | 85.0 | 68.0 | 95.0 | ~$2,730/mo | |
| 11 | Korea, Rep. | 75.0 | 38.0 | 88.0 | 65.0 | 88.0 | ~$2,625/mo | |
| 12 | Ireland | 75.0 | 55.0 | 68.0 | 78.0 | 92.0 | ~$2,625/mo | |
| 13 | Australia | 73.0 | 48.0 | 68.0 | 72.0 | 108.0 | ~$2,555/mo | |
| 14 | France | 72.0 | 38.0 | 68.0 | 78.0 | 88.0 | ~$2,520/mo | |
| 15 | New Zealand | 72.0 | 42.0 | 75.0 | 72.0 | 105.0 | ~$2,520/mo | |
| 16 | Sweden | 71.0 | 32.0 | 78.0 | 82.0 | 95.0 | ~$2,485/mo | |
| 17 | Netherlands | 71.0 | 42.0 | 62.0 | 78.0 | 90.0 | ~$2,485/mo | |
| 18 | Finland | 70.0 | 30.0 | 75.0 | 85.0 | 92.0 | ~$2,450/mo | |
| 19 | Belgium | 70.0 | 36.0 | 68.0 | 80.0 | 88.0 | ~$2,450/mo | |
| 20 | United Kingdom | 70.0 | 45.0 | 58.0 | 75.0 | 85.0 | ~$2,450/mo | |
| 21 | Italy | 68.0 | 28.0 | 72.0 | 75.0 | 82.0 | ~$2,380/mo | |
| 22 | Austria | 68.0 | 35.0 | 65.0 | 75.0 | 88.0 | ~$2,380/mo | |
| 23 | Canada | 68.0 | 35.0 | 65.0 | 72.0 | 98.0 | ~$2,380/mo | |
| 24 | Malta | 65.0 | 42.0 | 68.0 | 72.0 | 82.0 | ~$2,275/mo | |
| 25 | United Arab Emirates | 65.0 | 48.0 | 58.0 | 62.0 | 78.0 | ~$2,275/mo | |
| 26 | Germany | 65.0 | 32.0 | 52.0 | 65.0 | 95.0 | ~$2,275/mo | |
| 27 | Cyprus | 58.0 | 35.0 | 62.0 | 68.0 | 75.0 | ~$2,030/mo | |
| 28 | Spain | 55.0 | 25.0 | 58.0 | 62.0 | 78.0 | ~$1,925/mo | |
| 29 | Estonia | 55.0 | 28.0 | 58.0 | 62.0 | 75.0 | ~$1,925/mo | |
| 30 | Greece | 52.0 | 20.0 | 55.0 | 58.0 | 62.0 | ~$1,820/mo | |
| 31 | Saudi Arabia | 52.0 | 28.0 | 48.0 | 52.0 | 68.0 | ~$1,820/mo | |
| 32 | Slovenia | 52.0 | 25.0 | 55.0 | 58.0 | 72.0 | ~$1,820/mo | |
| 33 | Portugal | 50.0 | 28.0 | 52.0 | 55.0 | 68.0 | ~$1,750/mo | |
| 34 | Latvia | 48.0 | 22.0 | 52.0 | 55.0 | 68.0 | ~$1,680/mo | |
| 35 | Chile | 48.0 | 25.0 | 52.0 | 55.0 | 62.0 | ~$1,680/mo | |
| 36 | Czechia | 45.0 | 22.0 | 48.0 | 50.0 | 72.0 | ~$1,575/mo | |
| 37 | Lithuania | 45.0 | 20.0 | 48.0 | 52.0 | 65.0 | ~$1,575/mo | |
| 38 | Croatia | 42.0 | 20.0 | 45.0 | 48.0 | 58.0 | ~$1,470/mo | |
| 39 | Slovak Republic | 42.0 | 20.0 | 45.0 | 48.0 | 62.0 | ~$1,470/mo | |
| 40 | China | 42.0 | 32.0 | 48.0 | 42.0 | 58.0 | ~$1,470/mo | |
| 41 | Montenegro | 42.0 | 20.0 | 45.0 | 48.0 | 58.0 | ~$1,470/mo | |
| 42 | Poland | 42.0 | 18.0 | 45.0 | 48.0 | 65.0 | ~$1,470/mo | |
| 43 | Thailand | 42.0 | 22.0 | 45.0 | 38.0 | 55.0 | ~$1,470/mo | |
| 44 | Albania | 38.0 | 18.0 | 42.0 | 45.0 | 55.0 | ~$1,330/mo | |
| 45 | Bosnia and Herzegovina | 38.0 | 18.0 | 42.0 | 45.0 | 55.0 | ~$1,330/mo | |
| 46 | Serbia | 38.0 | 18.0 | 40.0 | 42.0 | 55.0 | ~$1,330/mo | |
| 47 | Malaysia | 38.0 | 18.0 | 42.0 | 35.0 | 62.0 | ~$1,330/mo | |
| 48 | Hungary | 38.0 | 15.0 | 42.0 | 45.0 | 58.0 | ~$1,330/mo | |
| 49 | South Africa | 38.0 | 18.0 | 42.0 | 45.0 | 52.0 | ~$1,330/mo | |
| 50 | Viet Nam | 38.0 | 18.0 | 42.0 | 35.0 | 48.0 | ~$1,330/mo | |
| 51 | Brazil | 38.0 | 18.0 | 42.0 | 45.0 | 42.0 | ~$1,330/mo | |
| 52 | Bulgaria | 35.0 | 15.0 | 38.0 | 40.0 | 52.0 | ~$1,225/mo | |
| 53 | Philippines | 35.0 | 12.0 | 38.0 | 32.0 | 38.0 | ~$1,225/mo | |
| 54 | Mexico | 35.0 | 15.0 | 38.0 | 42.0 | 48.0 | ~$1,225/mo | |
| 55 | North Macedonia | 35.0 | 15.0 | 38.0 | 42.0 | 52.0 | ~$1,225/mo | |
| 56 | Armenia | 35.0 | 18.0 | 38.0 | 42.0 | 52.0 | ~$1,225/mo | |
| 57 | Romania | 32.0 | 12.0 | 35.0 | 38.0 | 48.0 | ~$1,120/mo | |
| 58 | Indonesia | 32.0 | 15.0 | 35.0 | 28.0 | 42.0 | ~$1,120/mo | |
| 59 | Azerbaijan | 32.0 | 15.0 | 35.0 | 38.0 | 48.0 | ~$1,120/mo | |
| 60 | Georgia | 32.0 | 15.0 | 35.0 | 38.0 | 48.0 | ~$1,120/mo | |
| 61 | Belarus | 32.0 | 12.0 | 35.0 | 38.0 | 45.0 | ~$1,120/mo | |
| 62 | Argentina | 32.0 | 12.0 | 35.0 | 38.0 | 38.0 | ~$1,120/mo | |
| 63 | Turkiye | 32.0 | 15.0 | 35.0 | 38.0 | 45.0 | ~$1,120/mo | |
| 64 | Moldova | 28.0 | 10.0 | 30.0 | 35.0 | 42.0 | ~$980/mo | |
| 65 | Egypt, Arab Rep. | 28.0 | 10.0 | 32.0 | 28.0 | 35.0 | ~$980/mo | |
| 66 | Ukraine | 25.0 | 10.0 | 28.0 | 32.0 | 38.0 | ~$875/mo | |
| 67 | India | 25.0 | 10.0 | 28.0 | 22.0 | 32.0 | ~$875/mo |
How to Read the Indices:
- Cost of Living Index: Relative to NYC (100). Index 70 = 30% cheaper than NYC
- Rent Index: Relative to NYC (100). Index 50 = rent is half the price of NYC
- Groceries Index: Relative to NYC (100). Index 80 = groceries cost 80% of NYC prices
- Restaurant Price Index: Relative to NYC (100). Index 60 = restaurant meals cost 60% of NYC prices
- Purchasing Power Index: Higher is better. Index 100 = same purchasing power as NYC. Index 120 = 20% more purchasing power than NYC
Example Calculation: If groceries cost $450/month in NYC and a country has Groceries Index of 70, then groceries in that country would cost approximately $315/month ($450 Γ 0.70).