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Here’s How Much It Costs To Live in the 15 Wealthiest Cities in the World

August 4, 2024

3 min Read

Written by Virginia Anderson

Edited by Joe Evans

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Every year, Henley & Partners reveals the world’s wealthiest cities based on the number of high-net-worth individuals living in an area. This year is no different, and recently the firm revealed its 2024 survey of the top 50 wealthiest cities according to the number of millionaires, centi-millionaires and billionaires in each area.

GOBankingRates assessed the top 15 locations according to their cost of living, which includes typical expenditures like groceries, transportation, utilities and entertainment. Note that living costs do not include rent or mortgage expenses.

Here’s how much you’ll pay if you decide to follow in the footsteps of the world’s most wealthy individuals.

New York City, New York, U.S.A.

Estimated monthly cost of living for one person: $1,643.20
Estimated monthly cost of living for a family of four: $6,085.10

The Bay Area, California, U.S.A.

Estimated monthly cost of living for one person: $1,522
Estimated monthly cost of living for a family of four: $5,498.20

Tokyo, Japan

Estimated monthly cost of living for one person: $950.70
Estimated monthly cost of living for a family of four: $3,395.50

Singapore

Estimated monthly cost of living for one person: $1,121.80
Estimated monthly cost of living for a family of four: $4,040.10

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London, United Kingdom

Estimated monthly cost of living for one person: $1,400.70
Estimated monthly cost of living for a family of four: $4,873.10

Los Angeles, California, U.S.A.

Estimated monthly cost of living for one person: $1,354
Estimated monthly cost of living for a family of four: $4,904

Paris, France

Estimated monthly cost of living for one person: $1,193.70
Estimated monthly cost of living for a family of four: $4,255.50

Sydney, Australia

Estimated monthly cost of living for one person: $1,132.40
Estimated monthly cost of living for a family of four: $4,036.10

Hong Kong

Estimated monthly cost of living for one person: $1,176.30
Estimated monthly cost of living for a family of four: $4,138.90

Beijing, China

Estimated monthly cost of living for one person: $611.70
Estimated monthly cost of living for a family of four: $2,229.40

Shanghai, China

Estimated monthly cost of living for one person: $634.20
Estimated monthly cost of living for a family of four: $2,311.40

Chicago, Illinois

Estimated monthly cost of living for one person: $1,294.90
Estimated monthly cost of living for a family of four: $4,727.30

Toronto, Canada

Estimated monthly cost of living for one person: $1,089.10
Estimated monthly cost of living for a family of four: $3,986

Milan, Italy

Estimated monthly cost of living for one person: $1,095.90
Estimated monthly cost of living for a family of four: $3,853.30

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Melbourne, Australia

Estimated monthly cost of living for one person: $1,048.30
Estimated monthly cost of living for a family of four: $3,761.90

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