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According to Research, These Two Californian Cities Are Among the Top 10 Most Costly in the World

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The Worldwide Cost of Living report for 2023 from the Economist Intelligence Unit has two California cities among the top 10 most expensive cities worldwide.

Analysts conducted surveys in 173 major cities and compared over 400 pricing for 200 different products and services in order to obtain the results. It did not include Caracas, Venezuela, where prices have increased by 450% since 2022.

Singapore and Zurich, Switzerland, are the two cities that have the highest cost of living. According to EIU data, Singapore has been named the most expensive city in the world to live in for nine out of the past eleven years.

Los Angeles came in at number six on the list. According to recent data, the median property price in LA County has risen above $900,000. The survey discovered that in some neighborhoods, one must make nearly six figures in order to live “comfortably.”

To put that into perspective, living in Los Angeles is more expensive than living in Copenhagen, Denmark, or Paris, France.

LA moved up from No. 9 in 2021 to fourth overall in the study from the previous year.

San Francisco rounded out the top 10; according to research, people living there who earn $100,000 annually are deemed “low income.” San Francisco was ranked eighth last year.

The top ten most costly cities in the report’s rankings are as follows:

1. Zurich and Singapore (tie)

3. New York and Geneva (tie)

5. Hong Kong

6. Los Angeles

7. Paris

8. Tel Aviv and Copenhagen (tie)

10. San Francisco

The analysis found that this year’s average cost of living increased by 7.4%, with food costs rising at the quickest rate.

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