Every source adds its own spin on the math, which results in slightly different lists. Finally, the numbers for each region in a given country are averaged to enable nation-to-nation comparisons. Those costs are then compared to the price of the same necessities in a baseline city, such as New York City, U.S.A.
Some nations have a very low cost of living, which can make them attractive destinations for ex-pats, retirees, and others interested in reducing their expenses.Īs a rule, cost of living computations start by recording the cost of various needs, from rent/mortgage and health care to a loaf of bread, in a given city. (or the world) one lives, costs may be lower still-or even higher-in another country. For example, in the United States, cities like New York and San Francisco have a very high cost of living, while areas such as rural Mississippi, Kansas, or Oklahoma may be notably more affordable. Some countries have a very high cost of living, particularly in areas surrounding large cities. The cost of living covers basics like housing, groceries, taxes, and healthcare. The cost of living is the money needed to sustain a certain comfort level in a location.
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