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Here’s How Much It Costs To Live in the 15 Wealthiest Cities in the World
Written by
Virginia Anderson
Edited by
Joe Evans, CFHCâ„¢

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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.
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
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