How Much Does It Cost To Live in the World’s 20 Largest Cities?

In the U.S, the cost of living is rising. Between 1990 and 2019, the overall cost of living increased by 74% based on the Personal Consumption Expenditures Price Index and by 90% according to the Consumer Price Index retroactive series. It’s interesting to think about how prices and salaries in U.S cities compare to international ones.  

GOBankingRates’ new survey explores how much it costs to live in the world’s 20 largest cities.

• Population: 37,194,105
• Cost for single person (without rent): $892
• Cost for family of four (without rent): 3,171

Rent is exorbitant in Tokyo in relation to the rest of this list: $965 for a one-bedroom apartment in the heart of the city. Buying said apartment is also on the costlier side, at $700 per square foot. Child care is steep: $7,531 — though not nearly as steep as other locations noted here, or as in, say, the U.S. Clothing and shoes aren’t too bad, though, at $45, and 20-year fixed mortgage rates are rock bottom at 1.50%. Also, you take home a relatively high salary on average, compared to other cities cited here: $2,470 a month, after tax.

• Population: 32,941,309
• Cost for single person (without rent): $387
• Cost for family of four (without rent):  $1,323

In Delhi, your average monthly net salary after taxes is actually on the higher end of average for this list at $712. You can enjoy sports and leisure for super cheap: $12, and apartments are cheap, too. You can get a three-bedroom apartment in the city center for $611, which is what some cities charge to rent a mere one-bedroom apartment in a possibly less desirable location. The only category very slightly on the higher end of average for this list here is the cost of utilities monthly, which is $25.

• Population: 29,210,808 
• Cost for single person (without rent): $677
• Cost for family of four (without rent):  $2,463

In Shanghai, China, your average monthly net salary is $1,357, which is more than you’d take home in many of these other cities. But not everything is affordable. For example, child care is $13,458, and a one-bedroom apartment in the center of the city is $909. Twenty-year fixed mortgage rates are 4.85%. Pretty much everything is rather pricey in Shanghai, compared to other cities on this list.

• Population: 23,209,616  
• Cost for single person (without rent): $395 
• Cost for family of four (without rent):  $1,373

You won’t earn much of a living in Dhaka — just $277 a month after taxes, and 20-year fixed mortgage rates are wildly high at 10.02%. A new car will set you back $30,395 — the highest on this list. But other aspects are on the affordable end. For example, restaurants are $3.42 and markets are $1.84. Additionally, the price per square foot to buy an apartment outside of the city is just $51.

• Population: 22,619,736
• Cost for single person (without rent): $652  
• Cost for family of four (without rent): $2,354

In São Paulo, you’ll keep $464 of your monthly paycheck, on average — not super great when your 20-year-fixed mortgage rate is 10.64%, and when the cost of child care is $6,298. A one-bedroom apartment in the city center will set you back $582, and transportation is $11. A new car costs $25,748. It’s hardly the most affordable city on this list, with other areas of living being average at best.

• Population: 22,281,442  
• Cost for single person (without rent): $708 
• Cost for family of four (without rent): $2,585

In Mexico City, Mexico, you’ll pocket pay of $839, which is on the higher end of this list — though there is quite a gap. Again, a 20-year-fixed mortgage rate here is on the high side at 11.19%. A new car costs $22,961. City-central apartments are fairly affordable, compared to other locations explored here, at $281 per square foot. Transportation is square in the middle at $6.23. Child care costs are $5,0789. In general, this city is on the higher end of average, costs-wise.

• Population: 22,183,201  
• Cost for single person (without rent): $388
• Cost for family of four (without rent): $1,382

Housing is incredibly reasonable in Cairo — $187 for a one-bedroom rental in the center of the city. If you opt to buy though, you’ll be slammed with a high interest rate of 12.33% for a 20-year fixed term. It’s true that a lot of stuff in Cairo is really cheap, in comparison to other cities mentioned here, but monthly pay after taxes is $169, so that’s an important factor to consider.

• Population: 21,766,214   
• Cost for single person (without rent): $644
• Cost for family of four (without rent): $2,330

In Beijing, China, your take home pay is $1,807 a month, which is on the higher end, for these cities. Mortgage rates are on the lower end, comparatively, at 4.72% for a 20-year fixed term. But renting an apartment isn’t terribly cheap: a one-bedroom goes for $941 if you want to be in the city’s center. A new car isn’t too badly priced — $21,424. Child care is steep, though, at $13,647.

• Population: 21,296,517 
• Cost for single person (without rent): $383
• Cost for family of four (without rent): $1,316

In Mumbai, India, your average monthly net salary after taxes is $759. Mortgage rates are high here at 8.59% for a 20 year fixed term. The markets are well priced at $1.89, and a new car won’t cost you as much as it would in the U.S.: $18,702. Child care is very reasonable at $1,609. A one-bedroom apartment rental in the heart of the city is $574, which is kind of a lot if you’re raking in only $759 a month, post tax.

• Population: 19,013,434  
• Cost for single person (without rent): $815
• Cost for family of four (without rent): $2,907

Osaka, Japan is not for the faint of finances. Just look at the cost for a family of four. That’s nearly as high as prices in Tokyo, the priciest place on this list. In better news, your take home pay after taxes is $2,081, which will get you far if you choose to rent a one-bedroom apartment in the city center — for $552 a month. Sports and leisure are the most expensive on this list at $29.19. But clothing and shoes are only $45 and 20-year fixed term mortgage rates are only 1.70%. A new car is pretty reasonably priced at $16,180.

• Population: 17,240,704 
• Cost for single person (without rent): $475 
• Cost for family of four (without rent): $1,713

In Chongqing, your average monthly take home pay per month is $746, which is on the higher side for these international cities. That said, mortgage rates are on the steeper end, as well — not too far off from the U.S. at 5.10% for a 20-year fixed term. Utilities are nicely priced at $21, and restaurants are only $4. A new car will set you back $18,437, which is OK, but child care is really expensive at $13,900. That’s the highest on this list.

• Population: 17,236,230 
• Cost for single person (without rent): $298
• Cost for family of four (without rent): $969

In Karachi, mortgage rates are high at 17.70%, which makes owning a home perhaps less practical than renting one. One-bedroom apartment rentals in the city center are just $94 a month. Clothing and shoes are nicely priced at $26; childcare is only $482 and sports and leisure are just $8 — the lowest on this list.

• Population: 15,945,912 
• Cost for single person (without rent): $444
• Cost for family of four (without rent): $1,596

The cost of living in Lagos isn’t particularly cheap when considering that your average monthly earnings after taxes is $151 — the lowest on this list. Owning a home could be hard here, given that a 20-year fixed term mortgage rate is 20.00%. Markets are only $1.61, so that’s good, but a new car is $15,300, which would be tough to swing on such a low salary. Renting looks difficult, too: A one-bedroom apartment rental costs $613 if you want to live in the center of the city. That’s far more than you’d bring in a month.

• Population: 15,847,768  
• Cost for single person (without rent): $502
• Cost for family of four (without rent): $1,784

In Istanbul, you’ll pull in an average post-tax pay of $521, which will be totally depleted by your costs to live as a single person without rent. And rent will set you back $650, for a city-centric one-bedroom apartment. And then you’ve got the cost of child care, which is $3,983. Buying won’t help you out much, given that a 20-year term fixed mortgage rate hovers at nearly 26%. And then, if you want a new car, that’ll set you back $38.771 — the highest on this list.

• Population: 15,490,415 
• Cost for single person (without rent): $459
• Cost for family of four (without rent): $1,634

Hold your tango roses, the fixed mortgage interest rate for a 20-year term is 48.51% — by far the steepest on this list. Renting could be a better option, with one-bedroom apartments in the heart of the city going for $389. This is really hard to swallow when your take home pay is $407 a month. Plus, a new car costs $21,231, which makes you think that used cars or public transit are the only realistic options for most.

• Population: 15,332,793 
• Cost for single person (without rent): $325
• Cost for family of four (without rent): $1,120

In Kolkata, India, your monthly take home pay is $441. A one-bedroom apartment in the center of the city costs $149 monthly, which is really reasonable, for this list. Child care is also very affordable, relatively, at $805 and monthly utilities are $14.10. A new car will be a considerable expense though, considering how much you’re earning, weighing in at $19,778.

• Population: 14,667,089 
• Cost for single person (without rent): $312
• Cost for family of four (without rent): $2,132

In Manila, you will be earning an average monthly net salary of $459, which could make many costs of living difficult to manage. Child care costs $6,452; a one-bedroom apartment in the heart of the city is $528 and a new car is $21,029. A 20-year fixed mortgage rate is 7.96%.

• Population: 14,284,353 
• Cost for single person (without rent): $539
• Cost for family of four (without rent): $1,938

In Guangzhou, your average monthly net salary is $1,117. That doesn’t quite cut it when child care is $10,609 — the 3rd highest on this list. A one-bedroom apartment in the city will set you back $484. Utilities are so-so at $29 a month, but a new car is no joke, priced at $24,597.

• Population: 14,238,643 
• Cost for single person (without rent): $539
• Cost for family of four (without rent): $1,931

In Tianjin, your average monthly net salary is $993, which is definitely on the cushier side if you’re a single person and opting to rent a one-bedroom apartment, which, in the city center, costs $378. That same apartment would go for $265 outside of the city. Child care is $4,786 and clothing and shoes are $55. Compared to other locations on this list, a 20-year fixed term mortgage rate of 5.20% isn’t terrible.

• Population: 13,979,390
• Cost for single person (without rent): $320
• Cost for family of four (without rent): $1,028

In Lahore, you pocket $177 of your monthly paycheck, which is really not much at all when you consider the cost of living for a single person in this city. Owning a house seems quite challenging here, as mortgage rates are 15.10%. Things like buying a new car may be off the table, as a new car here goes for $16.948. Utilities are also high at $35 a month. At least child care is forgivingly priced: $581.

Methodology: To find how much it costs to live in the world’s largest cities, GOBankingRates gathered a list of the most populated cities in the world in 2023 from WorldPopulationReview. For each of the top 20 cities, the cost of living was found across 60 factors sourced from Numbeo. The cost of living factors were categorized into 14 types to better show the differences across industries. Housing options were also shown, including: one bedroom and three bedroom apartments in the city center and outside of the city. All data was collected and is up-to-date as-of Aug. 18th, 2023.

Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the locations listed in this article.