It’ll run you over $12 (USD) to grab a beer in Dubai, and no less than $5.40 for a coffee in Las Vegas. 12 But those cities don’t even crack into our top ten list of pricey metropolises to call home. With two out of every three people expected to live in a city by 2050, urban areas are booming, and costs are climbing to meet demand.3
Find out the 10 most expensive cities to put down roots and what you can still buy on a budget in each one.
Table of Contents
1. Singapore
This Southeast Asian city-state is a fitting setting for Crazy Rich Asians considering the wealth it requires to live large here. The driving factor behind Singapore’s high price tag is the real estate market. As a small island nation, there’s only so much space to develop into housing, and high demand for what’s on offer hikes rent prices up to around $2,700 for a one-bedroom apartment. 4
Another product of the country’s geography is the inability to locally grow and manufacture enough goods and food to supply it. Instead, Singapore relies heavily on imports, which raises the price of everyday purchases.
Surprisingly Cheap
- BBQ meats
- Orchid perfumes
- Tiger Balm products 5
2. Hong Kong
Another island with limited space and a hot real estate market, Hong Kong is high on the list of pricey places to live. A one-bedroom apartment in the city will run around $2,300 per month to rent. 6 Government policies also contribute to the high cost of living, as products like alcohol and tobacco are heavily regulated. In fact, the current tax on a pack of cigarettes is $5, which is expected to rise again shortly. 7
Hong Kong draws in residents and tourists alike to enjoy its luxury lifestyle. But the shopping, sites, and dining experiences will cost you a pretty penny. Even a standard cup of coffee will set you back over $5. 8
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- Public transportation
- Street food
- Designer clothing dupes
3. Zurich, Switzerland
Moving away from East Asia and over to the Alps, Zurich boasts a thriving economy and the prices to match. Luckily for Zurich residents, their incomes match the cost of living, with the average annual salary sitting around $108,000. 9
It’s a good thing the salaries are generous, considering a one-bedroom apartment rents for $2,250 on average. 10 Everyday prices also add up quickly here, as a single public transit journey costs around $5 and supermarket prices are as much as three times higher than in neighboring Germany. 11
Surprisingly Cheap
- Sparkling water
- College
- Toilet paper 12
4. Geneva, Switzerland
Switzerland proves to be an all-around expensive country, as Geneva also makes this list. Similarly to Zurich, renting a one-bedroom apartment will cost around $2,200. Fortunately, the city enjoys the same high average salary. 13
Finding budget eats in this ritzy European city can be a particular challenge, with even a McDonald’s Big Mac meal running over $16. 14
Surprisingly Cheap
- Chocolate
- Second-hand clothing
- Beer 15
5. Tokyo, Japan
Tokyo is known for its futuristic facade and immaculate infrastructure. But keeping this high-tech city maintenance comes at a cost. A high population, limited space, and a booming tourism industry drive up the prices in Tokyo.
That said, some living expenses come in considerably lower than others on this list. For example, renting a one-bedroom apartment will probably only run around $1,100. 16
One of the major bank-breakers, on the other hand, is the cost of transit. A one-month metro pass will set you back $129. 17
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6. Tel Aviv, Israel
Beautiful beaches, delicious cuisine, and a sunny climate make Tel Aviv a highly desirable place to live. Making the move will run up a tab, though, as housing, transit, food, and drink all come at a premium. One-bedroom apartments rent for around $1,600 and a standard bottle of beer can cost upwards of $8. 2021
Rising costs in Tel Aviv are in part driven by the rapidly growing tech industry, nicknamed “Silicon Wadi,” which is the epicenter of some of today’s most groundbreaking technological advancements. 22
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7. Sydney, Australia
Snakes, sharks, and spiders aren’t the only dangers down under—high costs can bite you hard in Sydney. Rent comes out to $2,000–$2,600 for a one-bedroom place, and something as basic as a kilogram of tomatoes could cost $7. 262728
Costs continue to rise as Australia faces an inflation crisis, reporting a whopping 7.8% inflation rate in 2022. 29
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8. Copenhagen, Denmark
Famously the home of Hans Christian Andersen, this fairytale Scandinavian city doesn’t come cheap. Luckily, the country boasts impeccable salaries and wealth distribution, making the high price tags affordable for the majority of Copenhagen’s residents.
Much of the high living costs are due to the Value Added Taxes collected by the Danish government, which add about 31% to the prices of goods. As for rent, a studio or one-bedroom apartment costs around $1,100–$1,400. 32
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9. New York City, United States
It’s no surprise that the next two cities are the largest in the United States. Like Australia, the US is facing a rampant inflation crisis, sending rent, gas, and grocery prices sky-high. Topping the charts when it comes to pricey American cities is New York.
Renting in the Big Apple can set you back a jaw-dropping $3,000–$4,000 for a studio or one-bedroom apartment. 35 After paying that much in rent, you might not want to leave your home—especially when you consider how expensive getting around can be. A monthly transit pass costs $127 and taxi fare racks up quickly, starting at a base charge of $3. 3637
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10. Los Angeles, United States
Lastly, there’s Los Angeles. This star-studded city charges a high price for year-round sunshine. Along with the cost of rent—a studio or one-bed runs around $2,000–$2,500—most Angelenos depend on cars for transportation. The actual auto, insurance, and maintenance all run up a tab, but gas is the real kicker. Right now, a fill-up will cost you around $4.80 per gallon. 40
Unlike some cities on this list, the cost of living in LA is more pronounced than the prices alone indicate, as wealth disparity is some of the worst in the nation. 41
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