Everyone knows that NYC is the most expensive place to live in the U.S., but it turns out that D.C. is not far behind. It’s also one of the most expensive places to live in the entire world. Data company Numbeo released its mid-year 2024 Cost of Living Index by City, and seven U.S. cities made the top 10. D.C. is among these preposterously pricey places, coming in at number seven.
Numbeo looks at a variety of factors to compile the Index, and scores cities based on cost of living, rent, cost of living plus rent, groceries, restaurant prices and local purchasing power. These costs fluctuate, so the index is updated twice a year. The Index uses NYC as a baseline, giving the city a score of 100. Other cities are ranked based on whether they are more expensive or less expensive than NYC.
At number one and two, respectively, are Geneva and Zurich in Switzerland. NYC is the third most expensive city to live in the world, followed by San Francisco, Boston, Reykjavik and D.C. Seattle, Los Angeles and Chicago round out the top ten most expensive cities in the world. San Diego, Portland (Oregon) and Tampa complete the list of the most expensive cities to live in the U.S.
This mid-year index gives D.C. a cost of living score of 82.5, just 17.5 percent cheaper than NYC. The local purchasing power index, however, is 132.6, which means residents with an average salary can afford about 30% more than residents of NYC with an average salary.
But D.C. is an amazing city with so many things to do that we put up with the pricey cost of living to enjoy all the city has to offer. Let’s just hope that in this case we don’t reach the same heights as NYC. Find the full report on the Numbeo website.
The 10 most expensive cities in the world:
1. Geneva, Switzerland
2. Zurich, Switzerland
3. New York, New York
4. San Francisco, California, United States
5. Boston, Massachusetts, United States
6. Reykjavik, Iceland
7. Washington D.C., United States
8. Seattle, Washington, United States
9. Los Angeles, California, United States
10. Chicago, Illinois, United States