The cost of living has gone up pretty much everywhere over the last couple of years, but there are certain spots where those purse strings are being pulled the tightest.
Internet database Numbeo releases a Cost of Living Index every six months, and the one for mid-2024 has just been published. Assessing factors such as the cost of groceries, eating in restaurants and local purchasing power (which is essentially how far local currency goes) across a host of cities, the index compiles all the data to come up with an overall cost of living score.
And with the highest overall score on the Cost of Living index? It might not come as too much of a surprise to learn that it’s Geneva. That’s right, the Swiss city has an overall cost of living score of 101.7, making it the world’s most expensive city. It’s closely followed by Zurich which claimed second place with a score of 100.4, both scoring particularly highly for the price of groceries and restaurants.
New York comes in third place, San Francisco comes in fourth and Boston claims fifth. In fact, US cities dominate the list, but it’s worth noting this index doesn’t even factor in rent. When rent is included, the ranking paints an even more US-dominant picture.
The Big Apple is actually the city used as the control in the index. When rent is factored in Geneva came in third place, scoring 81.5 overall. That means that in general, living there is 18.5 percent cheaper than living in New York, but that certain factors are more expensive. Groceries scored a whopping 111.4, meaning a food shop in the Swiss city would set you back quite a lot more than in NYC, but rent scored a mere 59.6, making it much cheaper in that respect.
Rent or no rent, if you’re looking for somewhere cheap to live, it sounds like the US and Switzerland maybe shouldn’t be at the top of your list. Check out the rest of the index results below.
These are the world’s 20 most expensive cities in 2024
- Geneva
- Zurich
- New York
- San Francisco
- Boston
- Reykjavik
- Washington DC
- Seattle
- Los Angeles
- Chicago
- San Diego
- Canberra
- London
- Portland
- Oslo
- Tampa
- Miami
- Singapore
- Denver
- Adelaide
For more information on the Cost of Living Index, you can take a look at the website here.
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