Advertiser Disclosure
GOBankingRates works with many financial advertisers to showcase their products and services to our audiences. These brands compensate us through a variety of commercial arrangements, including advertising placements and performance-based compensation, such as when users click on links, submit applications, open accounts, or fund accounts. This compensation may impact how and where products appear on this site but does not affect the content of any product review or rating. 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, CFHCâ„¢

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
Share This Article:
You May Also Like
Jeff Bezos' Move to Florida: A $1 Billion Tax Savings Lesson for High Earners
April 29, 2026
3 min Read
I'm a Financial Planner: 5 Ways High??'Net??'Worth Households Manage Money Differently
May 06, 2026
3 min Read
Here's the Minimum Salary Required To Be Considered Middle Class in California
May 04, 2026
3 min Read
Middle Class vs. Rich: 3 Investing Moves Grant Cardone Says Set Them Apart in 2026
April 27, 2026
3 min Read
5 Ways Middle-Income Americans Quietly Build Wealth -- Without Risky Investments
April 27, 2026
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







