Yahoo Finance 15 Most Affordable Cities in the World To Live In
You may have a good idea as to which U.S. cities are among the most affordable to reside in, but do you think you’d be able to name the most affordable international cities?
To determine which cities are the most affordable to live in, GOBankingRates sourced the world’s largest cities by population from World Atlas and cross-referenced Numbeo’s cost-of-living index by city. A list of price indexes were then analyzed to score each city and produce its final ranking.
The cost-of-living, groceries and rent index scores were all based on U.S. averages, scored out of 100. Therefore, if the U.S. cost of living is 100 and a city on this list scores at 33, it is considered 67% less expensive, overall, than the United States.
In ascending order, read on to find out which 15 global cities are the most affordable to live in.
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15. Wuhan, China
Cost of living index: 32.7
Rent index: 8.4
Groceries index: 35.3
Local purchasing power index: 61.3
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14. Mumbai, India
Cost of living index: 25.1
Rent index: 18.3
Groceries index: 25.5
Local purchasing power index: 53.9
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13. Kuala Lumpur, Malaysia
Cost of living index: 35.0
Rent index: 11.8
Groceries index: 40.0
Local purchasing power index: 77.7
12. Karachi, Pakistan
Cost of living index: 19.3
Rent index: 3.0
Groceries index: 17.4
Local purchasing power index: 23.6
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11. Chengdu, China
Cost of living index: 32.2
Rent index: 7.5
Groceries index: 35.9
Local purchasing power index: 68.1
10. Lahore, Pakistan
Cost of living index: 19.5
Rent index: 3.1
Groceries index: 16.3
Local purchasing power index: 26.2
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9. Ahmedabad, India
Cost of living index: 24.4
Rent index: 5.7
Groceries index: 26.7
Local purchasing power index: 51.0
8. Cape Town, South Africa
Cost of living index: 34.1
Rent index: 16.2
Groceries index: 29.0
Local purchasing power index: 88.6
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7. Kolkata, India
Cost of living index: 21.6
Rent index: 3.6
Groceries index: 23.8
Local purchasing power index: 54.1
6. Johannesburg, South Africa
Cost of living index: 35.5
Rent index: 10.3
Groceries index: 28.5
Local purchasing power index: 91.4
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5. Chennai, India
Cost of living index: 22.5
Rent index: 5.5
Groceries index: 25.6
Local purchasing power index: 75.8
4. Hyderabad, India
Cost of living index: 24.3
Rent index: 6.0
Groceries index: 26.0
Local purchasing power index: 86.2
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3. Bangalore, India
Cost of living index: 29.3
Rent index: 11.0
Groceries index: 30.8
Local purchasing power index: 108.3
2. Delhi, India
Cost of living index: 24.5
Rent index: 6.9
Groceries index: 23.5
Local purchasing power index: 92.6
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1. Pune, India
Cost of living index: 24.8
Rent index: 6.9
Groceries index: 25.1
Local purchasing power index: 109.7
Methodology: GOBankingRates sourced a list of the largest cities in the world by population from World Atlas. This list was then cross-referenced with Numbeo’s cost of living index by city. The following factors from Numbeo were analyzed to give each city a score and produce a final ranking: 1) Local purchasing power index: Measures the relative purchasing power of a typical salary in the country. A lower purchasing power buys fewer goods, while a higher purchasing power buys more; 2) Rent index: Includes typical home rental prices in the country; 3) Groceries index: Includes typical grocery prices in the country; and 4) Cost of living index: Includes costs of local goods and services, such as restaurants, transportation and utilities. All data was collected and is up to date as of Feb. 5, 2024.
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This article originally appeared on GOBankingRates.com: 15 Most Affordable Cities in the World To Live In
