In which country is life more expensive?
Are you thinking of moving to another country? You’re not alone! Many of our customers have a strong urge to discover new cultures and ways of living outside their native country.
This could be for economic or social reasons. But either way, one factor that remains to consider is the cost of living. How much will it actually cost you to emigrate to a new country? Some countries are more expensive than others, and in this blog we’ll take you through five of the top destinations for aspirational migrants.
Let’s dive in.
WorldRemit Content Team
• 4 mins read • Updated
Living costs in the US
The United States of America is known as the land of opportunity, and that might be because it’s the world’s largest economy in terms of GDP. This opportunity for economic advancement attracts many migrants and which makes the US, according to the UN, the country with the largest migrant population in the world.
This diverse country is also home to one of the best education systems in the world, attracting many international students.
How expensive is it to live in the US?
According to Numebo, the US is ranked 28th in terms of general living costs and 17th when you factor in rent costs. Without rent, the average person’s monthly costs are estimated to be about US$936.78.
The average price for a single bedroom flat is about US$1,100.70. As you can probably tell, rent is really what makes living in the US so expensive compared to other countries. For example, the US cost of living is 1.8% higher than the UK, while rent is 33% more expensive!
However, these costs of living are often offset by the potentially higher revenues. The average monthly salary in the US is pretty high at US$3,588.94 (after tax). In fact, the US is ranked 5th in the world for average salaries.
But of course, the US is a vast land mass so the costs of living will vary widely by state and city. The most expensive city in the States (factoring in rent) is San Francisco, just above New York. Interestingly, apart from New York, all of the most expensive cities are located in California.
Most expensive cities in the US
San Francisco, CA
New York, NY
Berkeley, CA
Oakland, CA
Santa Clara, CA
Santa Barbara, CA
Honolulu, HI
Boston MA
Most expensive states in the US (Source)
California
Hawaii
Alaska
Massachusetts
Connecticut
Rhode Island
Maryland
New Hampshire
Living costs in the UK
The UK is considered to be 29th in the world for highest living costs (including rent), according to Numbeo. Without rent costs included, a single person’s monthly costs are estimated to be about US$881.85 (GBP£651.75).
The average costs for a single person’s rent are about US$841.76. The costs go up significantly in major cities like London, where rent costs about US$1,754.17 (GBP£1,296.46).
The United Kingdom is ranked 20th in the world in terms of salaries, according to Numbeo. This means that they are behind Australia and the US when it comes to potential revenue.
What are the most expensive cities in the UK?
Including rent, the top 8 most expensive cities are:
London
Brighton
Guildford
Oxford
Cambridge
Reading
Bristol
Milton Keynes
Living costs in Australia
Australia is considered by Numbeo to be 17th in the world when it comes to living costs. Australia’s higher costs of living come from general costs and rent.
A single person’s estimated monthly costs without rent are US$961.44$ (A$1,340.17). The average rental cost for a single bedroom flat is about US$942.08.
The cost of living in Australia is 12.88% higher than the UK. However, the high salaries more than make up for that. Australia is ranked 4th in the world, with an average salary at A$3,619.81 per month.
Most expensive cities in Australia
Sydney
Canberra
Darwin
Brisbane
Melbourne
Gold Coast
Newcastle
Hobart
Living costs in Canada
Canada is ranked 22nd in the world in terms of living costs, according to Numbeo. Canadian rent costs are what causes the country to be a bit more expensive to live in, but rent is still cheaper there than the US and Australia.
A single person’s estimated monthly costs without rent are US$3,168.10 (C$4,051.56). The average cost for a one bedroom flat (or apartment) is US$896.36.
Costs of living in Canada are 0.19% lower than the United Kingdom, but rent there is 5.7% higher. Canadian salaries are, like the UK, on average much lower than their American and Australian cousins, with Canada ranking at 21st in the world for average salaries.
Most expensive cities in Canada
Vancouver
Toronto
North Vancouver
Mississauga
Victoria
Markham
Nanaimo
Guelph
Living costs in France
France has the 7th largest economy in the world and its capital, Paris, is the 4th best city for economic opportunities. The abundant culture, job opportunities and location make it an attractive place for migrants to live. France has the 7th largest migrant population in the world.
Once in the country, migrants will have access to its high-quality healthcare system (which is tax-funded and therefore virtually free). They’ll also have access to the 5th best education system in the world.
How expensive is it to live in France?
Numbeo has ranked France as the 24th most expensive country in the world. A single person’s monthly costs, without rent, are estimated at US$919.92$ (EUR€813.43). The average rent cost for a single bedroom flat is US$592.07.
One advantage to living in France is that the rent costs are comparatively cheaper than other nations. France is actually ranked 34th in the highest rent costs in the world ranking. To put that in perspective compared to the UK, France’s cost of living might be 6.6% higher but rent is 20% lower!
The trade off is that French salaries are lower than the other aforementioned countries, sitting at 22nd in the world.
Most expensive cities in France according to Numbeo
Nice
Paris
Toulouse
Grenoble
Marseille
A photograph of a French plaza in Nice, with colourful buildings surrounding a reflective pool
As with anything, the cost of living isn’t the only factor you have to take into account when considering moving to a new place. You also have to decide, ultimately, where you (or your family) would be happiest.
If that is in any of the countries we’ve listed above, then at the very least, we can help you manage your money transfers back home. Just because you’ve moved doesn’t mean that you have to stop supporting your family and friends back home. We can help you to send money for their school costs, holiday expenses, and much more.
Or, if you’re still doing your research, and want to learn more about the migrant life, feel free to browse some of our other blogs on the topic like the Cost of Living in Canada and much more.
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