Advertiser Disclosure
GOBankingRates works with many financial advertisers to showcase their products and services to our audiences. These brands compensate us to advertise their products in ads across our site. This compensation may impact how and where products appear on this site. We are not a comparison-tool and these offers do not represent all available deposit, investment, loan or credit products.
Here’s How Much It Costs To Live in the 15 Wealthiest Cities in the World
Written by
Virginia Anderson
Edited by
Joe Evans

Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 YearsHelping You Live Richer
Reviewed by Experts
Trusted by Millions of Readers
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.
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
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
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
More From GOBankingRates
- Nearly 1 in 3 Americans Hit by a Costly Holiday Scam, Norton Survey Shows -- How To Avoid ThisÂ
- Here's What Retirees Wasted the Most Money On in 2025 -- and How To Avoid It in 2026Â
- How Middle-Class Earners Are Quietly Becoming Millionaires -- and How You Can, TooÂ
- 6 Safe Accounts Proven to Grow Your Money Up to 13x FasterÂ
Share This Article:
You May Also Like
I'm a Self-Made Millionaire: Money Habits I Had To Break To Build Wealth
January 02, 2026
3 min Read
If the Top 10 Billionaires' Wealth Was Distributed Equally in America, How Much Money Would Each Person Get?
December 31, 2025
3 min Read
Robert Kiyosaki: 8 Assets To Get So You Can (Eventually) Quit Your Job Forever
December 31, 2025
3 min Read
These 22-Year-Olds Just Unseated Mark Zuckerberg as the Youngest Self-Made Billionaires
December 31, 2025
3 min Read
Why Middle-Class Earners Quietly Becoming Millionaires Can Still Feel Broke
December 31, 2025
3 min Read
How Fast Top CEOs Like Warren Buffett Make the Average US Salary in 2025
December 29, 2025
3 min Read
Make your money work for you
Get the latest news on investing, money, and more with our free newsletter.
By subscribing, you agree to our Terms of Use and Privacy Policy. Unsubscribe at any time.

Thanks!
You're now subscribed to our newsletter.
Check your inbox for more details.

Sending you timely financial stories that you can bank on.
Sign up for our daily newsletter for the latest financial news and trending topics.
For our full Privacy Policy, click here.
Looks like you're using an adblocker
Please disable your adblocker to enjoy the optimal web experience and access the quality content you appreciate from GOBankingRates.
- AdBlock / uBlock / Brave
- Click the ad blocker extension icon to the right of the address bar
- Disable on this site
- Refresh the page
- Firefox / Edge / DuckDuckGo
- Click on the icon to the left of the address bar
- Disable Tracking Protection
- Refresh the page
- Ghostery
- Click the blue ghost icon to the right of the address bar
- Disable Ad-Blocking, Anti-Tracking, and Never-Consent
- Refresh the page




